Zazou: 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.
Zazou
Largest movements
- Stocks and contracts +€230,908
up €230,908 (+101%), from €227,595 to €458,503
- Receivables after one year -€203,100
no longer reported in 2025 (was €203,100)
- Cash +€13,574
up €13,574 (+68.1%), from €19,919 to €33,493
mainly Other debts (+€296,861) and Receivables after one year (+€203,100)
- Other debts +€296,861
up €296,861 (+4,073%), from €7,289 to €304,150
- Short-term financial debts -€240,000
down €240,000 (-48.0%), from €500,000 to €260,000
- Profit (loss) carried forward -€17,953
down €17,953 (-41.5%), from -€43,277 to -€61,230
- Financial income +€8,460
up €8,460 (+236%), from €3,580 to €12,039
- Financial charges +€6,971
up €6,971 (+55.1%), from €12,656 to €19,627
- Gross operating margin -€2,511
down €2,511 (-49.6%), from -€5,057 to -€7,568
- Other operating charges +€1,547
up €1,547 (+344%), from €449 to €1,997
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 | €482,813 | €525,395 | +€42,582 | +8.8% |
| Fixed assets | 21/28 | €1,199 | €399 | -€800 | -66.7% |
| Tangible fixed assets | 22/27 | €1,199 | €399 | -€800 | -66.7% |
| Plant, machinery and equipment | 23 | €1,199 | €399 | -€800 | -66.7% |
| Current assets | 29/58 | €481,615 | €524,997 | +€43,382 | +9.0% |
| Amounts receivable after more than one year | 29 | €203,100 | - | -€203,100 | |
| Trade receivables | 290 | €203,100 | - | -€203,100 | |
| Stocks and contracts in progress | 3 | €227,595 | €458,503 | +€230,908 | +101% |
| Stocks | 30/36 | €227,595 | €458,503 | +€230,908 | +101% |
| Amounts receivable within one year | 40/41 | €31,000 | €33,000 | +€2,000 | +6.5% |
| Other amounts receivable | 41 | €31,000 | €33,000 | +€2,000 | +6.5% |
| Cash at bank and in hand | 54/58 | €19,919 | €33,493 | +€13,574 | +68.1% |
| Total equity and liabilities | 10/49 | €482,813 | €525,395 | +€42,582 | +8.8% |
| Equity | 10/15 | -€24,677 | -€42,630 | -€17,953 | -72.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,277 | -€61,230 | -€17,953 | -41.5% |
| Amounts payable | 17/49 | €507,490 | €568,025 | +€60,535 | +11.9% |
| Amounts payable within one year | 42/48 | €507,490 | €568,025 | +€60,535 | +11.9% |
| Financial debts | 43 | €500,000 | €260,000 | -€240,000 | -48.0% |
| Credit institutions | 430/8 | €500,000 | €260,000 | -€240,000 | -48.0% |
| Trade debts | 44 | €202 | €3,876 | +€3,674 | +1,823% |
| Suppliers | 440/4 | €202 | €3,876 | +€3,674 | +1,823% |
| Other amounts payable | 47/48 | €7,289 | €304,150 | +€296,861 | +4,073% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €800 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €1,997 | +€1,547 | +344% |
| Gross operating margin | 9900 | -€5,057 | -€7,568 | -€2,511 | -49.6% |
| Operating profit (loss) | 9901 | -€6,307 | -€10,365 | -€4,058 | -64.3% |
| Financial income | 75/76B | €3,580 | €12,039 | +€8,460 | +236% |
| Recurring financial income | 75 | €3,580 | €12,039 | +€8,460 | +236% |
| Financial charges | 65/66B | €12,656 | €19,627 | +€6,971 | +55.1% |
| Recurring financial charges | 65 | €12,656 | €19,627 | +€6,971 | +55.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,383 | -€17,953 | -€2,570 | -16.7% |
| Profit (loss) for the period | 9904 | -€15,383 | -€17,953 | -€2,570 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,383 | -€17,953 | -€2,570 | -16.7% |
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 25 October 2026 via checked.be.