ZAPPA: 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.
ZAPPA
Largest movements
- Cash -€16,989
down €16,989 (-29.1%), from €58,301 to €41,312
mainly Investment in fixed assets (net) (-€26,777) and Debts after one year (-€14,857)
- Tangible fixed assets +€9,507
up €9,507 (+2.7%), from €355,459 to €364,965
of which Furniture and vehicles: +€11,044
- Debts after one year -€14,857
down €14,857 (-4.4%), from €337,273 to €322,416
- Reserves +€8,500
up €8,500 (+16.9%), from €50,300 to €58,800
- Tax, wage and social debts -€6,092
down €6,092 (-39.3%), from €15,504 to €9,412
- Gross operating margin -€39,581
down €39,581 (-49.2%), from €80,497 to €40,916
- Other operating charges -€15,192
down €15,192 (-95.9%), from €15,842 to €650
- Depreciation -€5,351
down €5,351 (-22.1%), from €24,189 to €18,839
- Financial charges -€1,155
down €1,155 (-12.4%), from €9,330 to €8,175
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.
Cash bridge derived
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 | €439,471 | €427,288 | -€12,183 | -2.8% |
| Fixed assets | 21/28 | €357,027 | €364,965 | +€7,938 | +2.2% |
| Intangible fixed assets | 21 | €1,568 | - | -€1,568 | |
| Tangible fixed assets | 22/27 | €355,459 | €364,965 | +€9,507 | +2.7% |
| Land and buildings | 22 | €352,061 | €350,524 | -€1,537 | -0.4% |
| Furniture and vehicles | 24 | €3,398 | €14,442 | +€11,044 | +325.0% |
| Current assets | 29/58 | €82,444 | €62,323 | -€20,122 | -24.4% |
| Amounts receivable within one year | 40/41 | €23,902 | €20,745 | -€3,157 | -13.2% |
| Trade receivables | 40 | €20,463 | €5,745 | -€14,718 | -71.9% |
| Other amounts receivable | 41 | €3,439 | €15,000 | +€11,561 | +336.2% |
| Cash at bank and in hand | 54/58 | €58,301 | €41,312 | -€16,989 | -29.1% |
| Deferred charges and accrued income | 490/1 | €242 | €266 | +€24 | +9.9% |
| Total equity and liabilities | 10/49 | €439,471 | €427,288 | -€12,183 | -2.8% |
| Equity | 10/15 | €53,995 | €62,886 | +€8,891 | +16.5% |
| Contributions | 10/11 | €2,725 | €2,725 | = | 0.0% |
| Reserves | 13 | €50,300 | €58,800 | +€8,500 | +16.9% |
| Distributable reserves | 133 | €50,300 | €58,800 | +€8,500 | +16.9% |
| Profit (loss) carried forward | 14 | €970 | €1,361 | +€391 | +40.3% |
| Amounts payable | 17/49 | €385,476 | €364,402 | -€21,074 | -5.5% |
| Amounts payable after more than one year | 17 | €337,273 | €322,416 | -€14,857 | -4.4% |
| Financial debts | 170/4 | €337,273 | €322,416 | -€14,857 | -4.4% |
| Amounts payable within one year | 42/48 | €45,823 | €39,244 | -€6,579 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €22,212 | €24,661 | +€2,450 | +11.0% |
| Trade debts | 44 | €2,495 | - | -€2,495 | |
| Suppliers | 440/4 | €2,495 | - | -€2,495 | |
| Taxes, remuneration and social security | 45 | €15,504 | €9,412 | -€6,092 | -39.3% |
| Taxes | 450/3 | €15,504 | €9,412 | -€6,092 | -39.3% |
| Other amounts payable | 47/48 | €5,613 | €5,170 | -€442 | -7.9% |
| Accrued charges and deferred income | 492/3 | €2,381 | €2,742 | +€362 | +15.2% |
| Non-recurring operating income | 76A | €28,718 | - | -€28,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,189 | €18,839 | -€5,351 | -22.1% |
| Other operating charges | 640/8 | €15,842 | €650 | -€15,192 | -95.9% |
| Non-recurring operating charges | 66A | €1,155 | - | -€1,155 | |
| Gross operating margin | 9900 | €80,497 | €40,916 | -€39,581 | -49.2% |
| Operating profit (loss) | 9901 | €39,310 | €21,427 | -€17,883 | -45.5% |
| Financial income | 75/76B | €387 | €208 | -€179 | -46.2% |
| Recurring financial income | 75 | €387 | €208 | -€179 | -46.2% |
| Financial charges | 65/66B | €9,330 | €8,175 | -€1,155 | -12.4% |
| Recurring financial charges | 65 | €9,330 | €8,175 | -€1,155 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €30,367 | €13,460 | -€16,907 | -55.7% |
| Income taxes | 67/77 | €5,197 | €4,569 | -€628 | -12.1% |
| Profit (loss) for the period | 9904 | €25,170 | €8,891 | -€16,279 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,170 | €8,891 | -€16,279 | -64.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.