ZAPPWARE: what changed
Two fiscal 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.
ZAPPWARE
Largest movements
- Receivables within one year +€1.9m
up €1.9m (+59.0%), from €3.2m to €5.1m
of which Trade receivables: +€1.9m
- Intangible fixed assets -€1.1m
down €1.1m (-27.1%), from €4.1m to €3.0m
- Cash -€331,767
down €331,767 (-49.2%), from €674,378 to €342,611
mainly Receivables within one year (-€1.9m) and Investment in fixed assets (net) (-€1.8m)
- Trade debts -€554,565
down €554,565 (-32.6%), from €1.7m to €1.1m
- Debts after one year +€347,901
up €347,901 (+119.3%), from €291,667 to €639,567
- Accrued charges and deferred income +€335,382
up €335,382 (+81.3%), from €412,336 to €747,718
- Current portion of long-term debt +€141,370
up €141,370 (+277.8%), from €50,889 to €192,259
- Tax, wage and social debts +€123,268
up €123,268 (+25.7%), from €479,116 to €602,385
of which Taxes: +€202,727
- Gross operating margin -€1.1m
down €1.1m (-14.0%), from €7.7m to €6.6m
- Depreciation -€867,850
down €867,850 (-23.0%), from €3.8m to €2.9m
- Staff costs -€278,334
down €278,334 (-7.9%), from €3.5m to €3.2m
- Other operating charges +€114,698
up €114,698 (+473.4%), from €24,231 to €138,928
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 | €8,031,520 | €8,485,542 | +€454,022 | +5.7% |
| Fixed assets | 21/28 | €4,113,735 | €3,020,011 | -€1.1m | -26.6% |
| Intangible fixed assets | 21 | €4,068,570 | €2,965,398 | -€1.1m | -27.1% |
| Tangible fixed assets | 22/27 | €45,164 | €54,613 | +€9,449 | +20.9% |
| Plant, machinery and equipment | 23 | €18,178 | €39,756 | +€21,578 | +118.7% |
| Furniture and vehicles | 24 | €26,569 | €14,856 | -€11,712 | -44.1% |
| Leasing and similar rights | 25 | €417 | - | -€417 | |
| Current assets | 29/58 | €3,917,785 | €5,465,531 | +€1.5m | +39.5% |
| Amounts receivable within one year | 40/41 | €3,188,838 | €5,070,801 | +€1.9m | +59.0% |
| Trade receivables | 40 | €3,143,704 | €5,021,878 | +€1.9m | +59.7% |
| Other amounts receivable | 41 | €45,134 | €48,923 | +€3,789 | +8.4% |
| Cash at bank and in hand | 54/58 | €674,378 | €342,611 | -€331,767 | -49.2% |
| Deferred charges and accrued income | 490/1 | €54,569 | €52,118 | -€2,451 | -4.5% |
| Total equity and liabilities | 10/49 | €8,031,520 | €8,485,542 | +€454,022 | +5.7% |
| Equity | 10/15 | €2,654,223 | €2,759,547 | +€105,324 | +4.0% |
| Contributions | 10/11 | €2,919,003 | €2,919,003 | = | 0.0% |
| Capital | 10 | €2,919,003 | €2,919,003 | = | 0.0% |
| Issued capital | 100 | €2,919,003 | €2,919,003 | = | 0.0% |
| Reserves | 13 | €48,021 | €48,021 | = | 0.0% |
| Non-distributable reserves | 130/1 | €48,021 | €48,021 | = | 0.0% |
| Legal reserve | 130 | €48,021 | €48,021 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€312,802 | -€207,478 | +€105,324 | +33.7% |
| Provisions and deferred taxes | 16 | €4,227 | €4,227 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,227 | €4,227 | = | 0.0% |
| Pensions and similar obligations | 160 | €4,227 | €4,227 | = | 0.0% |
| Amounts payable | 17/49 | €5,373,071 | €5,721,769 | +€348,698 | +6.5% |
| Amounts payable after more than one year | 17 | €291,667 | €639,567 | +€347,901 | +119.3% |
| Financial debts | 170/4 | €291,667 | €639,567 | +€347,901 | +119.3% |
| Amounts payable within one year | 42/48 | €4,669,068 | €4,334,483 | -€334,585 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €50,889 | €192,259 | +€141,370 | +277.8% |
| Financial debts | 43 | €2,419,831 | €2,394,289 | -€25,541 | -1.1% |
| Credit institutions | 430/8 | €2,419,831 | €2,394,289 | -€25,541 | -1.1% |
| Trade debts | 44 | €1,700,116 | €1,145,551 | -€554,565 | -32.6% |
| Suppliers | 440/4 | €1,700,116 | €1,145,551 | -€554,565 | -32.6% |
| Taxes, remuneration and social security | 45 | €479,116 | €602,385 | +€123,268 | +25.7% |
| Taxes | 450/3 | €14,907 | €217,634 | +€202,727 | +1359.9% |
| Remuneration and social security | 454/9 | €464,209 | €384,751 | -€79,458 | -17.1% |
| Other amounts payable | 47/48 | €19,117 | - | -€19,117 | |
| Accrued charges and deferred income | 492/3 | €412,336 | €747,718 | +€335,382 | +81.3% |
| Remuneration, social security and pensions | 62 | €3,524,947 | €3,246,613 | -€278,334 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,780,269 | €2,912,419 | -€867,850 | -23.0% |
| Other operating charges | 640/8 | €24,231 | €138,928 | +€114,698 | +473.4% |
| Gross operating margin | 9900 | €7,662,606 | €6,590,065 | -€1.1m | -14.0% |
| Operating profit (loss) | 9901 | €333,159 | €292,105 | -€41,054 | -12.3% |
| Financial income | 75/76B | €4,538 | €3,212 | -€1,326 | -29.2% |
| Recurring financial income | 75 | €4,538 | €3,212 | -€1,326 | -29.2% |
| Financial charges | 65/66B | €148,199 | €181,964 | +€33,764 | +22.8% |
| Recurring financial charges | 65 | €148,199 | €181,964 | +€33,764 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €189,498 | €113,353 | -€76,145 | -40.2% |
| Income taxes | 67/77 | €10,071 | €8,029 | -€2,042 | -20.3% |
| Profit (loss) for the period | 9904 | €179,427 | €105,324 | -€74,103 | -41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €179,427 | €105,324 | -€74,103 | -41.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.