Zca: 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.
What changed
Zca
NACE 69.209, Other tax advisory services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€160,373
2024 · €2,244+€158,129
Equity
€1.1m
2024 · €174,132+€907,210
Cash
€55,298
2024 · €43,569+€11,729
Balance sheet total
€5.7m
2024 · €4.6m+€1.1m
Largest movements
Assets
- Current investments +€700,000
new in 2025: €700,000
- Receivables within one year +€271,115
up €271,115 (+2820.8%), from €9,611 to €280,727
of which Trade receivables: +€271,115
- Tangible fixed assets +€100,987
up €100,987 (+2.3%), from €4.4m to €4.5m
of which Land and buildings: +€101,194
Equity and liabilities
- Profit (loss) carried forward +€848,259
up €848,259 (+3247.1%), from €26,124 to €874,383
- Other debts +€88,830
up €88,830 (+17.3%), from €512,111 to €600,941
Income statement
- Gross operating margin +€318,329
up €318,329 (+85.2%), from €373,825 to €692,154
- Depreciation +€173,732
up €173,732 (+109.0%), from €159,322 to €333,054
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.
Result 2024
€2,244
Gross operating margin
+€318,329
Staff costs
+€5,470
Depreciation
-€173,732
Other operating charges
-€1,343
Financial charges
+€3,711
Taxes
+€5,693
Result 2025
€160,373
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.
From operations
+€341,494
Investment
-€1.1m
Financing
+€810,822
Cash 2024
€43,569
From operations (derived)
+€341,494
Net result for the year
+€160,373
Depreciation
+€333,054
Receivables within one year
-€271,115
Trade debts
-€17,284
Tax, wage and social debts
+€34,699
Other debts
+€88,830
Accrued charges and deferred income
+€12,938
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€440,586
Current investments
-€700,000
Financing
+€810,822
Debts after one year
+€15,294
Current portion of long-term debt
+€48,690
Contributions, distributions and other
+€746,837
Cash 2025
€55,298
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,587,645 | €5,678,022 | +€1.1m | +23.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €4,534,465 | €4,641,998 | +€107,532 | +2.4% |
| Intangible fixed assets | 21 | €29,408 | €5,954 | -€23,454 | -79.8% |
| Tangible fixed assets | 22/27 | €4,393,257 | €4,494,244 | +€100,987 | +2.3% |
| Land and buildings | 22 | €4,393,049 | €4,494,244 | +€101,194 | +2.3% |
| Furniture and vehicles | 24 | €208 | €0 | -€208 | -100.0% |
| Financial fixed assets | 28 | €111,800 | €141,800 | +€30,000 | +26.8% |
| Current assets | 29/58 | €53,180 | €1,036,024 | +€982,844 | +1848.1% |
| Amounts receivable within one year | 40/41 | €9,611 | €280,727 | +€271,115 | +2820.8% |
| Trade receivables | 40 | €9,611 | €280,727 | +€271,115 | +2820.8% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Current investments | 50/53 | - | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €43,569 | €55,298 | +€11,729 | +26.9% |
| Total equity and liabilities | 10/49 | €4,587,645 | €5,678,022 | +€1.1m | +23.8% |
| Equity | 10/15 | €174,132 | €1,081,342 | +€907,210 | +521.0% |
| Contributions | 10/11 | €62,125 | €74,175 | +€12,050 | +19.4% |
| Capital | 10 | €62,125 | €74,175 | +€12,050 | +19.4% |
| Issued capital | 100 | €62,125 | €74,175 | +€12,050 | +19.4% |
| Reserves | 13 | €85,884 | €132,784 | +€46,900 | +54.6% |
| Non-distributable reserves | 130/1 | €6,213 | €7,418 | +€1,205 | +19.4% |
| Legal reserve | 130 | €6,213 | €7,418 | +€1,205 | +19.4% |
| Tax-exempt reserves | 132 | €13,769 | €13,769 | = | 0.0% |
| Distributable reserves | 133 | €65,902 | €111,598 | +€45,695 | +69.3% |
| Profit (loss) carried forward | 14 | €26,124 | €874,383 | +€848,259 | +3247.1% |
| Amounts payable | 17/49 | €4,413,513 | €4,596,680 | +€183,167 | +4.2% |
| Amounts payable after more than one year | 17 | €3,652,278 | €3,667,572 | +€15,294 | +0.4% |
| Financial debts | 170/4 | €3,652,278 | €3,667,572 | +€15,294 | +0.4% |
| Amounts payable within one year | 42/48 | €759,149 | €914,084 | +€154,935 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €160,794 | €209,484 | +€48,690 | +30.3% |
| Trade debts | 44 | €61,167 | €43,883 | -€17,284 | -28.3% |
| Suppliers | 440/4 | €61,167 | €43,883 | -€17,284 | -28.3% |
| Taxes, remuneration and social security | 45 | €25,078 | €59,776 | +€34,699 | +138.4% |
| Taxes | 450/3 | - | €32,355 | +€32,355 | |
| Remuneration and social security | 454/9 | €25,078 | €27,422 | +€2,344 | +9.3% |
| Other amounts payable | 47/48 | €512,111 | €600,941 | +€88,830 | +17.3% |
| Accrued charges and deferred income | 492/3 | €2,086 | €15,024 | +€12,938 | +620.2% |
| Remuneration, social security and pensions | 62 | €140,007 | €134,537 | -€5,470 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,322 | €333,054 | +€173,732 | +109.0% |
| Other operating charges | 640/8 | €13,454 | €14,797 | +€1,343 | +10.0% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €373,825 | €692,154 | +€318,329 | +85.2% |
| Operating profit (loss) | 9901 | €61,042 | €209,767 | +€148,724 | +243.6% |
| Financial charges | 65/66B | €43,933 | €40,221 | -€3,711 | -8.4% |
| Recurring financial charges | 65 | €31,623 | €40,221 | +€8,599 | +27.2% |
| Non-recurring financial charges | 66B | €12,310 | - | -€12,310 | |
| Profit (loss) for the period before taxes | 9903 | €17,109 | €169,545 | +€152,436 | +890.9% |
| Income taxes | 67/77 | €14,865 | €9,172 | -€5,693 | -38.3% |
| Profit (loss) for the period | 9904 | €2,244 | €160,373 | +€158,129 | +7046.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,244 | €160,373 | +€158,129 | +7046.6% |
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 30 September 2026 via checked.be.