ZAXS: 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.
ZAXS
Largest movements
- Receivables after one year +€50,000
up €50,000 (+7.6%), from €655,000 to €705,000
- Other debts +€138,593
up €138,593 (+70.2%), from €197,566 to €336,159
- Reserves -€135,361
down €135,361 (-13.5%), from €1.0m to €867,041
- Profit (loss) carried forward +€76,679
up €76,679 (+45.6%), from €168,071 to €244,750
- Taxes -€12,070
down €12,070 (-31.1%), from €38,786 to €26,716
- Depreciation +€9,573
up €9,573 (+5598.2%), from €171 to €9,744
- Financial income -€3,291
down €3,291 (-28.3%), from €11,633 to €8,342
- Gross operating margin -€2,821
down €2,821 (-2.3%), from €125,057 to €122,236
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 | €1,483,351 | €1,554,594 | +€71,243 | +4.8% |
| Fixed assets | 21/28 | €748,634 | €753,802 | +€5,168 | +0.7% |
| Tangible fixed assets | 22/27 | €48,564 | €38,820 | -€9,744 | -20.1% |
| Leasing and similar rights | 25 | €48,564 | €38,820 | -€9,744 | -20.1% |
| Financial fixed assets | 28 | €700,070 | €714,982 | +€14,912 | +2.1% |
| Current assets | 29/58 | €734,717 | €800,792 | +€66,075 | +9.0% |
| Amounts receivable after more than one year | 29 | €655,000 | €705,000 | +€50,000 | +7.6% |
| Other amounts receivable | 291 | €655,000 | €705,000 | +€50,000 | +7.6% |
| Amounts receivable within one year | 40/41 | €34,912 | €39,227 | +€4,315 | +12.4% |
| Trade receivables | 40 | €34,319 | €33,472 | -€847 | -2.5% |
| Other amounts receivable | 41 | €593 | €5,755 | +€5,162 | +870.5% |
| Cash at bank and in hand | 54/58 | €43,646 | €54,160 | +€10,514 | +24.1% |
| Deferred charges and accrued income | 490/1 | €1,159 | €2,405 | +€1,246 | +107.5% |
| Total equity and liabilities | 10/49 | €1,483,351 | €1,554,594 | +€71,243 | +4.8% |
| Equity | 10/15 | €1,190,878 | €1,132,196 | -€58,682 | -4.9% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €1,002,402 | €867,041 | -€135,361 | -13.5% |
| Distributable reserves | 133 | €1,002,402 | €867,041 | -€135,361 | -13.5% |
| Profit (loss) carried forward | 14 | €168,071 | €244,750 | +€76,679 | +45.6% |
| Amounts payable | 17/49 | €292,473 | €422,398 | +€129,925 | +44.4% |
| Amounts payable after more than one year | 17 | €48,722 | €42,883 | -€5,839 | -12.0% |
| Financial debts | 170/4 | €48,722 | €42,883 | -€5,839 | -12.0% |
| Amounts payable within one year | 42/48 | €243,751 | €379,515 | +€135,764 | +55.7% |
| Trade debts | 44 | €12,817 | €22,861 | +€10,044 | +78.4% |
| Suppliers | 440/4 | €12,817 | €22,861 | +€10,044 | +78.4% |
| Taxes, remuneration and social security | 45 | €33,368 | €20,495 | -€12,873 | -38.6% |
| Taxes | 450/3 | €33,368 | €17,503 | -€15,865 | -47.5% |
| Remuneration and social security | 454/9 | - | €2,992 | +€2,992 | |
| Other amounts payable | 47/48 | €197,566 | €336,159 | +€138,593 | +70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171 | €9,744 | +€9,573 | +5598.2% |
| Other operating charges | 640/8 | €1,519 | €1,509 | -€10 | -0.7% |
| Gross operating margin | 9900 | €125,057 | €122,236 | -€2,821 | -2.3% |
| Operating profit (loss) | 9901 | €123,367 | €110,983 | -€12,384 | -10.0% |
| Financial income | 75/76B | €11,633 | €8,342 | -€3,291 | -28.3% |
| Recurring financial income | 75 | €11,633 | €8,342 | -€3,291 | -28.3% |
| Financial charges | 65/66B | €16,250 | €15,930 | -€320 | -2.0% |
| Recurring financial charges | 65 | €16,250 | €15,930 | -€320 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €118,750 | €103,395 | -€15,355 | -12.9% |
| Income taxes | 67/77 | €38,786 | €26,716 | -€12,070 | -31.1% |
| Profit (loss) for the period | 9904 | €79,964 | €76,679 | -€3,285 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,964 | €76,679 | -€3,285 | -4.1% |
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 1 October 2026 via checked.be.