ZAYAN BUSINESS: what changed
ZAYAN BUSINESS
Largest movements
- Receivables within one year +€110,685
up €110,685 (+115%), from €96,103 to €206,788
of which Trade receivables: +€108,265
- Cash -€4,707
down €4,707 (-34.6%), from €13,592 to €8,885
mainly Receivables within one year (-€110,685) and Net result for the year (-€26,192)
- Stocks and contracts -€3,000
down €3,000 (-8.5%), from €35,500 to €32,500
- Trade debts +€116,488
up €116,488 (+243%), from €47,865 to €164,353
- Profit (loss) carried forward -€26,192
down €26,192 (-33.0%), from €79,270 to €53,078
- Tax, wage and social debts +€10,015
up €10,015 (+73.0%), from €13,719 to €23,733
of which Taxes: +€8,793
- Staff costs +€40,278
up €40,278 (+22.2%), from €181,698 to €221,976
- Gross operating margin +€30,911
up €30,911 (+16.8%), from €184,285 to €215,196
- Financial income +€13,800
new in 2025: €13,800
- Other operating charges +€13,758
up €13,758 (+118%), from €11,635 to €25,393
- Financial charges +€2,578
up €2,578 (+92.4%), from €2,790 to €5,367
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €161,314 | €261,624 | +€100,310 | +62.2% |
| Fixed assets | 21/28 | €14,690 | €13,451 | -€1,240 | -8.4% |
| Intangible fixed assets | 21 | €10,016 | €8,776 | -€1,240 | -12.4% |
| Financial fixed assets | 28 | €4,674 | €4,674 | = | 0.0% |
| Current assets | 29/58 | €146,624 | €248,173 | +€101,550 | +69.3% |
| Stocks and contracts in progress | 3 | €35,500 | €32,500 | -€3,000 | -8.5% |
| Stocks | 30/36 | €35,500 | €32,500 | -€3,000 | -8.5% |
| Amounts receivable within one year | 40/41 | €96,103 | €206,788 | +€110,685 | +115% |
| Trade receivables | 40 | €36,055 | €144,320 | +€108,265 | +300% |
| Other amounts receivable | 41 | €60,048 | €62,468 | +€2,420 | +4.0% |
| Cash at bank and in hand | 54/58 | €13,592 | €8,885 | -€4,707 | -34.6% |
| Deferred charges and accrued income | 490/1 | €1,428 | - | -€1,428 | |
| Total equity and liabilities | 10/49 | €161,314 | €261,624 | +€100,310 | +62.2% |
| Equity | 10/15 | €99,730 | €73,538 | -€26,192 | -26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,270 | €53,078 | -€26,192 | -33.0% |
| Amounts payable | 17/49 | €61,584 | €188,086 | +€126,502 | +205% |
| Amounts payable within one year | 42/48 | €61,584 | €188,086 | +€126,502 | +205% |
| Trade debts | 44 | €47,865 | €164,353 | +€116,488 | +243% |
| Suppliers | 440/4 | €47,865 | €164,353 | +€116,488 | +243% |
| Taxes, remuneration and social security | 45 | €13,719 | €23,733 | +€10,015 | +73.0% |
| Taxes | 450/3 | €1,778 | €10,571 | +€8,793 | +495% |
| Remuneration and social security | 454/9 | €11,941 | €13,163 | +€1,222 | +10.2% |
| Non-recurring operating income | 76A | €90 | €107 | +€17 | +18.4% |
| Remuneration, social security and pensions | 62 | €181,698 | €221,976 | +€40,278 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,240 | €1,240 | -€1,000 | -44.6% |
| Other operating charges | 640/8 | €11,635 | €25,393 | +€13,758 | +118% |
| Non-recurring operating charges | 66A | -€1,368 | €1,212 | +€2,580 | |
| Gross operating margin | 9900 | €184,285 | €215,196 | +€30,911 | +16.8% |
| Operating profit (loss) | 9901 | -€9,920 | -€34,625 | -€24,705 | -249% |
| Financial income | 75/76B | - | €13,800 | +€13,800 | |
| Recurring financial income | 75 | - | €13,800 | +€13,800 | |
| Financial charges | 65/66B | €2,790 | €5,367 | +€2,578 | +92.4% |
| Recurring financial charges | 65 | €2,790 | €5,367 | +€2,578 | +92.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,710 | -€26,192 | -€13,483 | -106% |
| Profit (loss) for the period | 9904 | -€12,710 | -€26,192 | -€13,483 | -106% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,710 | -€26,192 | -€13,483 | -106% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.