ZANKO: 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.
ZANKO
Largest movements
- Cash +€57,645
up €57,645 (+63.9%), from €90,264 to €147,909
mainly Net result for the year (+€56,578) and Depreciation (+€13,313)
- Tangible fixed assets +€5,800
up €5,800 (+19.1%), from €30,400 to €36,199
of which Furniture and vehicles: +€14,919
- Receivables within one year +€4,200
up €4,200 (+18.0%), from €23,297 to €27,497
of which Trade receivables: +€4,200
- Reserves +€56,578
up €56,578 (+66.6%), from €85,006 to €141,584
- Tax, wage and social debts +€12,554
up €12,554 (+63.0%), from €19,932 to €32,486
of which Taxes: +€12,554
- Current portion of long-term debt +€9,017
up €9,017 (+104%), from €8,636 to €17,653
- Debts after one year -€7,585
down €7,585 (-37.6%), from €20,157 to €12,572
- Other debts -€2,327
down €2,327 (-32.1%), from €7,256 to €4,929
- Gross operating margin +€11,849
up €11,849 (+15.3%), from €77,358 to €89,207
- Depreciation +€3,376
up €3,376 (+34.0%), from €9,937 to €13,313
- Taxes +€1,861
up €1,861 (+13.5%), from €13,739 to €15,599
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 | €144,471 | €212,726 | +€68,255 | +47.2% |
| Fixed assets | 21/28 | €30,400 | €36,199 | +€5,800 | +19.1% |
| Tangible fixed assets | 22/27 | €30,400 | €36,199 | +€5,800 | +19.1% |
| Plant, machinery and equipment | 23 | €1,473 | €1,077 | -€397 | -26.9% |
| Furniture and vehicles | 24 | €1,134 | €16,053 | +€14,919 | +1,316% |
| Leasing and similar rights | 25 | €27,793 | €19,070 | -€8,723 | -31.4% |
| Current assets | 29/58 | €114,072 | €176,527 | +€62,455 | +54.8% |
| Amounts receivable within one year | 40/41 | €23,297 | €27,497 | +€4,200 | +18.0% |
| Trade receivables | 40 | €23,297 | €27,497 | +€4,200 | +18.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €90,264 | €147,909 | +€57,645 | +63.9% |
| Deferred charges and accrued income | 490/1 | €511 | €1,120 | +€610 | +119% |
| Total equity and liabilities | 10/49 | €144,471 | €212,726 | +€68,255 | +47.2% |
| Equity | 10/15 | €88,006 | €144,584 | +€56,578 | +64.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €85,006 | €141,584 | +€56,578 | +66.6% |
| Distributable reserves | 133 | €85,006 | €141,584 | +€56,578 | +66.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,465 | €68,142 | +€11,677 | +20.7% |
| Amounts payable after more than one year | 17 | €20,157 | €12,572 | -€7,585 | -37.6% |
| Financial debts | 170/4 | €20,157 | €12,572 | -€7,585 | -37.6% |
| Amounts payable within one year | 42/48 | €36,308 | €55,569 | +€19,261 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €8,636 | €17,653 | +€9,017 | +104% |
| Financial debts | 43 | €116 | €90 | -€26 | -22.0% |
| Credit institutions | 430/8 | €116 | €90 | -€26 | -22.0% |
| Trade debts | 44 | €369 | €412 | +€43 | +11.8% |
| Suppliers | 440/4 | €369 | €412 | +€43 | +11.8% |
| Taxes, remuneration and social security | 45 | €19,932 | €32,486 | +€12,554 | +63.0% |
| Taxes | 450/3 | €19,772 | €32,326 | +€12,554 | +63.5% |
| Remuneration and social security | 454/9 | €160 | €160 | = | 0.0% |
| Other amounts payable | 47/48 | €7,256 | €4,929 | -€2,327 | -32.1% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,937 | €13,313 | +€3,376 | +34.0% |
| Other operating charges | 640/8 | €991 | €1,809 | +€817 | +82.4% |
| Gross operating margin | 9900 | €77,358 | €89,207 | +€11,849 | +15.3% |
| Operating profit (loss) | 9901 | €66,180 | €74,086 | +€7,905 | +11.9% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €1,835 | €1,908 | +€73 | +4.0% |
| Recurring financial charges | 65 | €1,835 | €1,908 | +€73 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €64,348 | €72,178 | +€7,829 | +12.2% |
| Income taxes | 67/77 | €13,739 | €15,599 | +€1,861 | +13.5% |
| Profit (loss) for the period | 9904 | €50,609 | €56,578 | +€5,969 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,609 | €56,578 | +€5,969 | +11.8% |
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 16 October 2026 via checked.be.