ZCM: what changed
ZCM
Largest movements
- Receivables within one year -€21,553
down €21,553 (-69.5%), from €30,994 to €9,441
of which Other amounts receivable: -€21,519
- Cash +€12,051
up €12,051 (+438%), from €2,754 to €14,806
mainly Receivables within one year (+€21,553) and Net result for the year (+€13,463)
- Tangible fixed assets +€4,252
up €4,252 (+390%), from €1,091 to €5,342
- Tax, wage and social debts -€14,161
down €14,161 (-55.0%), from €25,729 to €11,568
- Reserves +€13,463
up €13,463 (+42.5%), from €31,660 to €45,123
- Trade debts -€4,246
down €4,246 (-82.9%), from €5,124 to €878
- Gross operating margin +€6,133
up €6,133 (+41.4%), from €14,809 to €20,942
- Taxes +€2,540
up €2,540 (+67.8%), from €3,747 to €6,287
- Other operating charges -€1,404
down €1,404 (-60.5%), from €2,319 to €915
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 | €65,013 | €60,069 | -€4,945 | -7.6% |
| Fixed assets | 21/28 | €1,091 | €5,342 | +€4,252 | +390% |
| Tangible fixed assets | 22/27 | €1,091 | €5,342 | +€4,252 | +390% |
| Furniture and vehicles | 24 | €1,091 | €5,342 | +€4,252 | +390% |
| Current assets | 29/58 | €63,923 | €54,726 | -€9,197 | -14.4% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,994 | €9,441 | -€21,553 | -69.5% |
| Trade receivables | 40 | €4,681 | €4,647 | -€34 | -0.7% |
| Other amounts receivable | 41 | €26,312 | €4,793 | -€21,519 | -81.8% |
| Cash at bank and in hand | 54/58 | €2,754 | €14,806 | +€12,051 | +438% |
| Deferred charges and accrued income | 490/1 | €175 | €480 | +€305 | +175% |
| Total equity and liabilities | 10/49 | €65,013 | €60,069 | -€4,945 | -7.6% |
| Equity | 10/15 | €34,160 | €47,623 | +€13,463 | +39.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €31,660 | €45,123 | +€13,463 | +42.5% |
| Distributable reserves | 133 | €31,660 | €45,123 | +€13,463 | +42.5% |
| Amounts payable | 17/49 | €30,853 | €12,445 | -€18,408 | -59.7% |
| Amounts payable within one year | 42/48 | €30,853 | €12,445 | -€18,408 | -59.7% |
| Trade debts | 44 | €5,124 | €878 | -€4,246 | -82.9% |
| Suppliers | 440/4 | €5,124 | €878 | -€4,246 | -82.9% |
| Taxes, remuneration and social security | 45 | €25,729 | €11,568 | -€14,161 | -55.0% |
| Taxes | 450/3 | €25,729 | €11,568 | -€14,161 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,237 | €1,356 | +€119 | +9.6% |
| Other operating charges | 640/8 | €2,319 | €915 | -€1,404 | -60.5% |
| Gross operating margin | 9900 | €14,809 | €20,942 | +€6,133 | +41.4% |
| Operating profit (loss) | 9901 | €11,253 | €18,671 | +€7,419 | +65.9% |
| Financial income | 75/76B | €1,870 | €1,701 | -€169 | -9.1% |
| Recurring financial income | 75 | €1,870 | €1,701 | -€169 | -9.1% |
| Financial charges | 65/66B | €831 | €622 | -€209 | -25.1% |
| Recurring financial charges | 65 | €831 | €622 | -€209 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €12,292 | €19,750 | +€7,458 | +60.7% |
| Income taxes | 67/77 | €3,747 | €6,287 | +€2,540 | +67.8% |
| Profit (loss) for the period | 9904 | €8,545 | €13,463 | +€4,918 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,545 | €13,463 | +€4,918 | +57.5% |
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 4 November 2026 via checked.be.