ZAZ VENTURES: what changed
Two financial 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.
ZAZ VENTURES
Largest movements
- Cash +€716,865
up €716,865 (+93.8%), from €764,199 to €1.5m
mainly Trade debts (+€858,971) and Receivables within one year (+€309,293)
- Receivables within one year -€309,293
down €309,293 (-35.1%), from €880,483 to €571,190
of which Trade receivables: -€294,404
- Trade debts +€858,971
up €858,971 (+109%), from €787,953 to €1.6m
- Other debts -€500,446
down €500,446 (-83.8%), from €596,962 to €96,516
- Reserves +€32,384
up €32,384 (+14.7%), from €220,464 to €252,848
of which Distributable reserves: +€34,244
- Staff costs +€37,407
up €37,407 (+17.5%), from €214,091 to €251,498
- Taxes -€8,721
down €8,721 (-31.7%), from €27,473 to €18,752
- Gross operating margin +€7,995
up €7,995 (+2.6%), from €311,439 to €319,435
- Financial charges -€3,874
down €3,874 (-34.1%), from €11,368 to €7,494
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.
Derived cash bridge
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 | €1,686,412 | €2,098,087 | +€411,676 | +24.4% |
| Fixed assets | 21/28 | €15,927 | €20,288 | +€4,362 | +27.4% |
| Tangible fixed assets | 22/27 | €7,202 | €11,564 | +€4,362 | +60.6% |
| Plant, machinery and equipment | 23 | €125 | €83 | -€42 | -33.3% |
| Furniture and vehicles | 24 | €7,077 | €11,481 | +€4,403 | +62.2% |
| Financial fixed assets | 28 | €8,725 | €8,725 | = | 0.0% |
| Current assets | 29/58 | €1,670,485 | €2,077,799 | +€407,314 | +24.4% |
| Amounts receivable within one year | 40/41 | €880,483 | €571,190 | -€309,293 | -35.1% |
| Trade receivables | 40 | €859,539 | €565,135 | -€294,404 | -34.3% |
| Other amounts receivable | 41 | €20,944 | €6,055 | -€14,889 | -71.1% |
| Cash at bank and in hand | 54/58 | €764,199 | €1,481,063 | +€716,865 | +93.8% |
| Deferred charges and accrued income | 490/1 | €25,804 | €25,546 | -€258 | -1.0% |
| Total equity and liabilities | 10/49 | €1,686,412 | €2,098,087 | +€411,676 | +24.4% |
| Equity | 10/15 | €239,064 | €273,308 | +€34,244 | +14.3% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €220,464 | €252,848 | +€32,384 | +14.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €218,604 | €252,848 | +€34,244 | +15.7% |
| Amounts payable | 17/49 | €1,447,348 | €1,824,779 | +€377,431 | +26.1% |
| Amounts payable within one year | 42/48 | €1,447,348 | €1,824,779 | +€377,431 | +26.1% |
| Trade debts | 44 | €787,953 | €1,646,925 | +€858,971 | +109% |
| Suppliers | 440/4 | €787,953 | €1,646,925 | +€858,971 | +109% |
| Taxes, remuneration and social security | 45 | €62,433 | €81,339 | +€18,906 | +30.3% |
| Taxes | 450/3 | €29,443 | €22,048 | -€7,395 | -25.1% |
| Remuneration and social security | 454/9 | €32,990 | €59,290 | +€26,301 | +79.7% |
| Other amounts payable | 47/48 | €596,962 | €96,516 | -€500,446 | -83.8% |
| Remuneration, social security and pensions | 62 | €214,091 | €251,498 | +€37,407 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,876 | €5,758 | +€1,882 | +48.6% |
| Other operating charges | 640/8 | €3,863 | €2,331 | -€1,532 | -39.7% |
| Gross operating margin | 9900 | €311,439 | €319,435 | +€7,995 | +2.6% |
| Operating profit (loss) | 9901 | €89,610 | €59,848 | -€29,762 | -33.2% |
| Financial income | 75/76B | €135 | €642 | +€508 | +377% |
| Recurring financial income | 75 | €135 | €642 | +€508 | +377% |
| Financial charges | 65/66B | €11,368 | €7,494 | -€3,874 | -34.1% |
| Recurring financial charges | 65 | €11,368 | €7,494 | -€3,874 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €78,377 | €52,996 | -€25,380 | -32.4% |
| Income taxes | 67/77 | €27,473 | €18,752 | -€8,721 | -31.7% |
| Profit (loss) for the period | 9904 | €50,904 | €34,244 | -€16,660 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,904 | €34,244 | -€16,660 | -32.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.