ZANAKA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ZANAKA
Largest movements
- Receivables within one year -€32,828
down €32,828 (-48.9%), from €67,198 to €34,370
of which Other amounts receivable: -€34,729
- Deferred charges and accrued income +€21,664
new in 2025: €21,664
- Cash -€17,799
down €17,799 (-45.5%), from €39,089 to €21,290
mainly Net result for the year (-€82,855) and Deferred charges and accrued income (-€21,664)
- Stocks and contracts -€15,407
down €15,407 (-20.6%), from €74,843 to €59,436
- Tangible fixed assets +€13,023
up €13,023 (+41.6%), from €31,330 to €44,353
of which Land and buildings: +€13,751
- Profit (loss) carried forward -€82,855
down €82,855 (-186%), from -€44,446 to -€127,301
- Trade debts +€56,959
up €56,959 (+48.9%), from €116,579 to €173,538
- Debts after one year -€10,304
no longer reported in 2025 (was €10,304)
- Tax, wage and social debts +€4,700
up €4,700 (+16.6%), from €28,318 to €33,018
of which Remuneration and social security: +€7,080
- Gross operating margin -€65,221
down €65,221 (-48.4%), from €134,657 to €69,435
- Staff costs +€9,471
up €9,471 (+8.2%), from €114,885 to €124,356
- Other operating charges +€4,477
up €4,477 (+38.7%), from €11,580 to €16,057
- Financial charges +€1,471
up €1,471 (+43.6%), from €3,378 to €4,849
- Depreciation +€1,352
up €1,352 (+23.8%), from €5,681 to €7,033
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,459 | €201,113 | -€31,347 | -13.5% |
| Fixed assets | 21/28 | €51,330 | €64,353 | +€13,023 | +25.4% |
| Tangible fixed assets | 22/27 | €31,330 | €44,353 | +€13,023 | +41.6% |
| Land and buildings | 22 | €27,617 | €41,368 | +€13,751 | +49.8% |
| Plant, machinery and equipment | 23 | €2,522 | €1,956 | -€565 | -22.4% |
| Furniture and vehicles | 24 | €1,192 | €1,029 | -€163 | -13.7% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €181,129 | €136,760 | -€44,369 | -24.5% |
| Stocks and contracts in progress | 3 | €74,843 | €59,436 | -€15,407 | -20.6% |
| Stocks | 30/36 | €74,843 | €59,436 | -€15,407 | -20.6% |
| Amounts receivable within one year | 40/41 | €67,198 | €34,370 | -€32,828 | -48.9% |
| Trade receivables | 40 | €17,780 | €19,681 | +€1,901 | +10.7% |
| Other amounts receivable | 41 | €49,418 | €14,689 | -€34,729 | -70.3% |
| Cash at bank and in hand | 54/58 | €39,089 | €21,290 | -€17,799 | -45.5% |
| Deferred charges and accrued income | 490/1 | - | €21,664 | +€21,664 | |
| Total equity and liabilities | 10/49 | €232,459 | €201,113 | -€31,347 | -13.5% |
| Equity | 10/15 | €67,095 | -€15,760 | -€82,855 | |
| Contributions | 10/11 | €21,541 | €21,541 | = | 0.0% |
| Reserves | 13 | €90,000 | €90,000 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,446 | -€127,301 | -€82,855 | -186% |
| Amounts payable | 17/49 | €165,364 | €216,873 | +€51,509 | +31.1% |
| Amounts payable after more than one year | 17 | €10,304 | - | -€10,304 | |
| Financial debts | 170/4 | €10,304 | - | -€10,304 | |
| Amounts payable within one year | 42/48 | €155,060 | €216,873 | +€61,813 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €10,150 | €10,304 | +€154 | +1.5% |
| Trade debts | 44 | €116,579 | €173,538 | +€56,959 | +48.9% |
| Suppliers | 440/4 | €116,579 | €173,538 | +€56,959 | +48.9% |
| Taxes, remuneration and social security | 45 | €28,318 | €33,018 | +€4,700 | +16.6% |
| Taxes | 450/3 | €23,086 | €20,706 | -€2,380 | -10.3% |
| Remuneration and social security | 454/9 | €5,232 | €12,312 | +€7,080 | +135% |
| Other amounts payable | 47/48 | €13 | €13 | = | 0.0% |
| Non-recurring operating income | 76A | - | €648 | +€648 | |
| Remuneration, social security and pensions | 62 | €114,885 | €124,356 | +€9,471 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,681 | €7,033 | +€1,352 | +23.8% |
| Other operating charges | 640/8 | €11,580 | €16,057 | +€4,477 | +38.7% |
| Gross operating margin | 9900 | €134,657 | €69,435 | -€65,221 | -48.4% |
| Operating profit (loss) | 9901 | €2,511 | -€78,010 | -€80,521 | |
| Financial income | 75/76B | €125 | €3 | -€122 | -97.3% |
| Recurring financial income | 75 | €125 | €3 | -€122 | -97.3% |
| Financial charges | 65/66B | €3,378 | €4,849 | +€1,471 | +43.6% |
| Recurring financial charges | 65 | €3,378 | €4,849 | +€1,471 | +43.6% |
| Profit (loss) for the period before taxes | 9903 | -€742 | -€82,855 | -€82,114 | -11,070% |
| Income taxes | 67/77 | €41 | - | -€41 | |
| Profit (loss) for the period | 9904 | -€782 | -€82,855 | -€82,073 | -10,490% |
| Profit (loss) for the period to be appropriated | 9905 | -€782 | -€82,855 | -€82,073 | -10,490% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.