ZAPPASS: 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.
ZAPPASS
Largest movements
- Intangible fixed assets +€111,212
up €111,212 (+7.0%), from €1.6m to €1.7m
- Receivables within one year +€70,627
up €70,627 (+216%), from €32,653 to €103,280
of which Other amounts receivable: +€35,499
- Financial fixed assets -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward -€539,065
down €539,065 (-55.3%), from -€974,800 to -€1.5m
- Trade debts +€388,513
up €388,513 (+160%), from €243,097 to €631,610
- Debts after one year +€180,560
up €180,560 (+28.8%), from €626,312 to €806,871
- Contributions +€154,167
up €154,167 (+9.7%), from €1.6m to €1.7m
- Investment grants -€26,995
down €26,995 (-8.3%), from €323,891 to €296,896
- Depreciation +€87,356
up €87,356 (+42.2%), from €207,164 to €294,520
- Gross operating margin +€30,727
up €30,727 (+26.5%), from -€116,053 to -€85,326
- Financial charges +€27,280
up €27,280 (+364%), from €7,504 to €34,784
- Staff costs -€2,602
no longer reported in 2025 (was €2,602)
- Financial income +€2,415
up €2,415 (+8.9%), from €27,161 to €29,576
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 | €1,827,805 | €1,963,985 | +€136,180 | +7.5% |
| Formation expenses | 20 | - | €2,892 | +€2,892 | |
| Fixed assets | 21/28 | €1,644,511 | €1,704,928 | +€60,417 | +3.7% |
| Intangible fixed assets | 21 | €1,592,319 | €1,703,531 | +€111,212 | +7.0% |
| Tangible fixed assets | 22/27 | €2,192 | €1,397 | -€795 | -36.3% |
| Plant, machinery and equipment | 23 | €1,273 | €650 | -€623 | -48.9% |
| Furniture and vehicles | 24 | €919 | €747 | -€172 | -18.7% |
| Financial fixed assets | 28 | €50,000 | - | -€50,000 | |
| Current assets | 29/58 | €183,294 | €256,165 | +€72,872 | +39.8% |
| Amounts receivable after more than one year | 29 | €113,606 | €120,652 | +€7,046 | +6.2% |
| Trade receivables | 290 | €113,606 | €120,652 | +€7,046 | +6.2% |
| Stocks and contracts in progress | 3 | €16,952 | €12,579 | -€4,373 | -25.8% |
| Stocks | 30/36 | €16,952 | €12,579 | -€4,373 | -25.8% |
| Amounts receivable within one year | 40/41 | €32,653 | €103,280 | +€70,627 | +216% |
| Trade receivables | 40 | €25,102 | €60,231 | +€35,129 | +140% |
| Other amounts receivable | 41 | €7,551 | €43,049 | +€35,499 | +470% |
| Cash at bank and in hand | 54/58 | €19,187 | €17,873 | -€1,315 | -6.9% |
| Deferred charges and accrued income | 490/1 | €896 | €1,781 | +€886 | +98.9% |
| Total equity and liabilities | 10/49 | €1,827,805 | €1,963,985 | +€136,180 | +7.5% |
| Equity | 10/15 | €931,393 | €519,500 | -€411,893 | -44.2% |
| Contributions | 10/11 | €1,582,303 | €1,736,470 | +€154,167 | +9.7% |
| Capital | 10 | €1,582,303 | €1,736,470 | +€154,167 | +9.7% |
| Issued capital | 100 | €1,582,303 | €1,736,470 | +€154,167 | +9.7% |
| Profit (loss) carried forward | 14 | -€974,800 | -€1,513,865 | -€539,065 | -55.3% |
| Investment grants | 15 | €323,891 | €296,896 | -€26,995 | -8.3% |
| Amounts payable | 17/49 | €896,411 | €1,444,485 | +€548,073 | +61.1% |
| Amounts payable after more than one year | 17 | €626,312 | €806,871 | +€180,560 | +28.8% |
| Financial debts | 170/4 | €626,312 | €806,871 | +€180,560 | +28.8% |
| Amounts payable within one year | 42/48 | €270,100 | €632,932 | +€362,832 | +134% |
| Trade debts | 44 | €243,097 | €631,610 | +€388,513 | +160% |
| Suppliers | 440/4 | €243,097 | €631,610 | +€388,513 | +160% |
| Other amounts payable | 47/48 | €27,002 | €1,322 | -€25,681 | -95.1% |
| Accrued charges and deferred income | 492/3 | - | €4,681 | +€4,681 | |
| Remuneration, social security and pensions | 62 | €2,602 | - | -€2,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,164 | €294,520 | +€87,356 | +42.2% |
| Other operating charges | 640/8 | €1,371 | €2,997 | +€1,626 | +119% |
| Non-recurring operating charges | 66A | - | €50,000 | +€50,000 | |
| Gross operating margin | 9900 | -€116,053 | -€85,326 | +€30,727 | +26.5% |
| Operating profit (loss) | 9901 | -€327,190 | -€432,843 | -€105,652 | -32.3% |
| Financial income | 75/76B | €27,161 | €29,576 | +€2,415 | +8.9% |
| Recurring financial income | 75 | €27,161 | €29,576 | +€2,415 | +8.9% |
| Financial charges | 65/66B | €7,504 | €34,784 | +€27,280 | +364% |
| Recurring financial charges | 65 | €7,504 | €34,784 | +€27,280 | +364% |
| Profit (loss) for the period before taxes | 9903 | -€307,533 | -€438,051 | -€130,518 | -42.4% |
| Profit (loss) for the period | 9904 | -€307,533 | -€438,051 | -€130,518 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€307,533 | -€438,051 | -€130,518 | -42.4% |
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 14 October 2026 via checked.be.