ZASCO: 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.
ZASCO
Largest movements
- Cash -€199,906
down €199,906 (-19.0%), from €1.1m to €851,761
mainly Trade debts (-€324,186) and Other debts (-€178,000)
- Stocks and contracts -€80,302
down €80,302 (-10.2%), from €787,386 to €707,084
- Receivables within one year +€74,842
up €74,842 (+33.5%), from €223,249 to €298,090
of which Trade receivables: +€110,977
- Tangible fixed assets -€34,053
down €34,053 (-14.5%), from €235,390 to €201,337
of which Furniture and vehicles: -€29,136
- Trade debts -€324,186
down €324,186 (-59.4%), from €546,053 to €221,868
- Profit (loss) carried forward +€266,497
up €266,497 (+37.1%), from €719,091 to €985,589
- Other debts -€178,000
down €178,000 (-100.0%), from €178,000 to €0
- Staff costs +€34,448
up €34,448 (+24.0%), from €143,394 to €177,841
- Other operating charges -€21,332
down €21,332 (-44.7%), from €47,769 to €26,437
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 | €2,311,445 | €2,075,643 | -€235,802 | -10.2% |
| Fixed assets | 21/28 | €235,390 | €201,337 | -€34,053 | -14.5% |
| Tangible fixed assets | 22/27 | €235,390 | €201,337 | -€34,053 | -14.5% |
| Land and buildings | 22 | €146,390 | €144,582 | -€1,808 | -1.2% |
| Plant, machinery and equipment | 23 | €18,687 | €15,577 | -€3,109 | -16.6% |
| Furniture and vehicles | 24 | €70,314 | €41,178 | -€29,136 | -41.4% |
| Current assets | 29/58 | €2,076,055 | €1,874,306 | -€201,749 | -9.7% |
| Stocks and contracts in progress | 3 | €787,386 | €707,084 | -€80,302 | -10.2% |
| Stocks | 30/36 | €787,386 | €707,084 | -€80,302 | -10.2% |
| Amounts receivable within one year | 40/41 | €223,249 | €298,090 | +€74,842 | +33.5% |
| Trade receivables | 40 | €186,989 | €297,965 | +€110,977 | +59.3% |
| Other amounts receivable | 41 | €36,260 | €125 | -€36,135 | -99.7% |
| Cash at bank and in hand | 54/58 | €1,051,666 | €851,761 | -€199,906 | -19.0% |
| Deferred charges and accrued income | 490/1 | €13,753 | €17,371 | +€3,618 | +26.3% |
| Total equity and liabilities | 10/49 | €2,311,445 | €2,075,643 | -€235,802 | -10.2% |
| Equity | 10/15 | €1,495,128 | €1,761,625 | +€266,497 | +17.8% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €726,458 | €726,458 | = | 0.0% |
| Non-distributable reserves | 130/1 | €85,958 | €85,958 | = | 0.0% |
| Reserves not available under the articles | 1311 | €85,958 | €85,958 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €603,000 | €603,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €719,091 | €985,589 | +€266,497 | +37.1% |
| Amounts payable | 17/49 | €816,317 | €314,018 | -€502,299 | -61.5% |
| Amounts payable within one year | 42/48 | €814,194 | €310,189 | -€504,006 | -61.9% |
| Trade debts | 44 | €546,053 | €221,868 | -€324,186 | -59.4% |
| Suppliers | 440/4 | €546,053 | €221,868 | -€324,186 | -59.4% |
| Taxes, remuneration and social security | 45 | €90,141 | €88,321 | -€1,820 | -2.0% |
| Taxes | 450/3 | €62,472 | €67,237 | +€4,765 | +7.6% |
| Remuneration and social security | 454/9 | €27,669 | €21,083 | -€6,585 | -23.8% |
| Other amounts payable | 47/48 | €178,000 | €0 | -€178,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,123 | €3,829 | +€1,707 | +80.4% |
| Remuneration, social security and pensions | 62 | €143,394 | €177,841 | +€34,448 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,263 | €21,051 | -€5,212 | -19.8% |
| Other operating charges | 640/8 | €47,769 | €26,437 | -€21,332 | -44.7% |
| Gross operating margin | 9900 | €602,005 | €596,216 | -€5,789 | -1.0% |
| Operating profit (loss) | 9901 | €384,579 | €370,886 | -€13,693 | -3.6% |
| Financial income | 75/76B | €4,660 | €5,050 | +€390 | +8.4% |
| Recurring financial income | 75 | €4,660 | €5,050 | +€390 | +8.4% |
| Financial charges | 65/66B | €20,878 | €19,080 | -€1,798 | -8.6% |
| Recurring financial charges | 65 | €20,878 | €19,080 | -€1,798 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €368,361 | €356,857 | -€11,504 | -3.1% |
| Income taxes | 67/77 | €95,083 | €90,359 | -€4,724 | -5.0% |
| Profit (loss) for the period | 9904 | €273,278 | €266,497 | -€6,780 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €273,278 | €266,497 | -€6,780 | -2.5% |
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 9 October 2026 via checked.be.