ZD832: 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.
ZD832
Largest movements
- Cash +€66,702
up €66,702 (+146.8%), from €45,434 to €112,137
mainly Other debts (+€153,742) and Net result for the year (+€88,422)
- Tangible fixed assets -€26,216
down €26,216 (-34.0%), from €77,111 to €50,896
of which Furniture and vehicles: -€25,852
- Receivables within one year +€6,677
up €6,677 (+38979.6%), from €17 to €6,694
- Current investments +€4,000
up €4,000 (+2.6%), from €151,000 to €155,000
- Other debts +€153,742
up €153,742 (+525.6%), from €29,253 to €182,995
- Reserves -€81,578
down €81,578 (-47.8%), from €170,526 to €88,949
- Current portion of long-term debt -€26,293
down €26,293 (-100.0%), from €26,293 to €0
- Tax, wage and social debts +€10,347
up €10,347 (+25.4%), from €40,721 to €51,068
- Trade debts -€4,912
down €4,912 (-93.2%), from €5,268 to €356
- Gross operating margin +€76,912
up €76,912 (+126.9%), from €60,598 to €137,509
- Taxes +€16,942
up €16,942 (+196.2%), from €8,634 to €25,575
- Financial charges -€3,427
down €3,427 (-90.5%), from €3,785 to €358
- Other operating charges -€2,909
down €2,909 (-84.6%), from €3,437 to €528
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €274,562 | €325,868 | +€51,306 | +18.7% |
| Fixed assets | 21/28 | €77,111 | €50,896 | -€26,216 | -34.0% |
| Tangible fixed assets | 22/27 | €77,111 | €50,896 | -€26,216 | -34.0% |
| Land and buildings | 22 | €1,802 | €1,700 | -€102 | -5.7% |
| Furniture and vehicles | 24 | €73,094 | €47,242 | -€25,852 | -35.4% |
| Other tangible fixed assets | 26 | €2,215 | €1,954 | -€261 | -11.8% |
| Current assets | 29/58 | €197,451 | €274,972 | +€77,522 | +39.3% |
| Amounts receivable within one year | 40/41 | €17 | €6,694 | +€6,677 | +38979.6% |
| Other amounts receivable | 41 | €17 | €6,694 | +€6,677 | +38979.6% |
| Current investments | 50/53 | €151,000 | €155,000 | +€4,000 | +2.6% |
| Cash at bank and in hand | 54/58 | €45,434 | €112,137 | +€66,702 | +146.8% |
| Deferred charges and accrued income | 490/1 | €999 | €1,141 | +€142 | +14.2% |
| Total equity and liabilities | 10/49 | €274,562 | €325,868 | +€51,306 | +18.7% |
| Equity | 10/15 | €173,026 | €91,449 | -€81,578 | -47.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Outside capital | 11 | €2,500 | - | -€2,500 | |
| Other | 1109/19 | €2,500 | - | -€2,500 | |
| Reserves | 13 | €170,526 | €88,949 | -€81,578 | -47.8% |
| Distributable reserves | 133 | €170,526 | €88,949 | -€81,578 | -47.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €101,535 | €234,419 | +€132,884 | +130.9% |
| Amounts payable within one year | 42/48 | €101,535 | €234,419 | +€132,884 | +130.9% |
| Current portion of amounts payable after more than one year | 42 | €26,293 | €0 | -€26,293 | -100.0% |
| Trade debts | 44 | €5,268 | €356 | -€4,912 | -93.2% |
| Suppliers | 440/4 | €5,268 | €356 | -€4,912 | -93.2% |
| Taxes, remuneration and social security | 45 | €40,721 | €51,068 | +€10,347 | +25.4% |
| Taxes | 450/3 | €40,721 | €51,068 | +€10,347 | +25.4% |
| Other amounts payable | 47/48 | €29,253 | €182,995 | +€153,742 | +525.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,050 | €26,216 | +€166 | +0.6% |
| Other operating charges | 640/8 | €3,437 | €528 | -€2,909 | -84.6% |
| Gross operating margin | 9900 | €60,598 | €137,509 | +€76,912 | +126.9% |
| Operating profit (loss) | 9901 | €31,111 | €110,766 | +€79,654 | +256.0% |
| Financial income | 75/76B | €2,795 | €3,590 | +€795 | +28.5% |
| Recurring financial income | 75 | €2,795 | €3,590 | +€795 | +28.5% |
| Financial charges | 65/66B | €3,785 | €358 | -€3,427 | -90.5% |
| Recurring financial charges | 65 | €3,785 | €358 | -€3,427 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | €30,121 | €113,997 | +€83,877 | +278.5% |
| Income taxes | 67/77 | €8,634 | €25,575 | +€16,942 | +196.2% |
| Profit (loss) for the period | 9904 | €21,487 | €88,422 | +€66,935 | +311.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,487 | €88,422 | +€66,935 | +311.5% |
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 5 October 2026 via checked.be.