ZAVA: 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.
ZAVA
Largest movements
- Receivables within one year +€21,472
up €21,472 (+48.6%), from €44,145 to €65,617
of which Trade receivables: +€20,570
- Cash -€20,750
down €20,750 (-36.6%), from €56,622 to €35,872
mainly Receivables within one year (-€21,472) and Other debts (-€2,204)
- Reserves +€2,925
up €2,925 (+3.5%), from €82,506 to €85,431
- Other debts -€2,204
down €2,204 (-37.0%), from €5,961 to €3,757
- Gross operating margin -€19,985
down €19,985 (-67.3%), from €29,714 to €9,729
- Taxes -€5,902
down €5,902 (-77.4%), from €7,625 to €1,723
- Financial charges +€851
up €851 (+63.4%), from €1,343 to €2,195
- Depreciation +€458
up €458 (+330.6%), from €139 to €597
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 | €103,612 | €103,738 | +€125 | +0.1% |
| Fixed assets | 21/28 | €2,845 | €2,248 | -€597 | -21.0% |
| Tangible fixed assets | 22/27 | €2,845 | €2,248 | -€597 | -21.0% |
| Plant, machinery and equipment | 23 | €2,845 | €2,248 | -€597 | -21.0% |
| Current assets | 29/58 | €100,768 | €101,490 | +€722 | +0.7% |
| Amounts receivable within one year | 40/41 | €44,145 | €65,617 | +€21,472 | +48.6% |
| Trade receivables | 40 | €8,470 | €29,040 | +€20,570 | +242.9% |
| Other amounts receivable | 41 | €35,675 | €36,577 | +€902 | +2.5% |
| Cash at bank and in hand | 54/58 | €56,622 | €35,872 | -€20,750 | -36.6% |
| Total equity and liabilities | 10/49 | €103,612 | €103,738 | +€125 | +0.1% |
| Equity | 10/15 | €87,506 | €90,431 | +€2,925 | +3.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €82,506 | €85,431 | +€2,925 | +3.5% |
| Distributable reserves | 133 | €82,506 | €85,431 | +€2,925 | +3.5% |
| Amounts payable | 17/49 | €16,106 | €13,307 | -€2,800 | -17.4% |
| Amounts payable within one year | 42/48 | €16,106 | €13,307 | -€2,800 | -17.4% |
| Trade debts | 44 | €1,074 | €1,172 | +€97 | +9.1% |
| Suppliers | 440/4 | €1,074 | €1,172 | +€97 | +9.1% |
| Taxes, remuneration and social security | 45 | €9,071 | €8,378 | -€693 | -7.6% |
| Taxes | 450/3 | €6,461 | €5,768 | -€693 | -10.7% |
| Remuneration and social security | 454/9 | €2,610 | €2,610 | = | 0.0% |
| Other amounts payable | 47/48 | €5,961 | €3,757 | -€2,204 | -37.0% |
| Remuneration, social security and pensions | 62 | €1,770 | €1,770 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139 | €597 | +€458 | +330.6% |
| Other operating charges | 640/8 | €566 | €520 | -€46 | -8.1% |
| Gross operating margin | 9900 | €29,714 | €9,729 | -€19,985 | -67.3% |
| Operating profit (loss) | 9901 | €27,239 | €6,842 | -€20,397 | -74.9% |
| Financial charges | 65/66B | €1,343 | €2,195 | +€851 | +63.4% |
| Recurring financial charges | 65 | €1,343 | €2,195 | +€851 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €25,896 | €4,648 | -€21,248 | -82.1% |
| Income taxes | 67/77 | €7,625 | €1,723 | -€5,902 | -77.4% |
| Profit (loss) for the period | 9904 | €18,271 | €2,925 | -€15,346 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,271 | €2,925 | -€15,346 | -84.0% |
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 2 October 2026 via checked.be.