ZDR&CO: 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.
ZDR&CO
Largest movements
- Receivables within one year -€14,377
down €14,377 (-74.7%), from €19,234 to €4,858
of which Trade receivables: -€13,398
- Tangible fixed assets +€1,071
new in 2025: €1,071
- Cash -€308
down €308 (-5.9%), from €5,215 to €4,907
mainly Net result for the year (-€14,043) and Trade debts (-€4,729)
- Profit (loss) carried forward -€14,043
new in 2025: -€14,043
- Other debts +€5,707
new in 2025: €5,707
- Trade debts -€4,729
down €4,729 (-91.6%), from €5,162 to €434
- Tax, wage and social debts -€490
down €490 (-20.5%), from €2,390 to €1,900
of which Taxes: -€590
- Gross operating margin -€22,825
down €22,825, from €10,863 to -€11,963
- Taxes -€1,861
no longer reported in 2025 (was €1,861)
- Depreciation +€357
new in 2025: €357
- Financial income +€322
new in 2025: €322
- Financial charges -€120
down €120 (-12.5%), from €959 to €839
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 | €26,113 | €12,509 | -€13,604 | -52.1% |
| Fixed assets | 21/28 | - | €1,071 | +€1,071 | |
| Tangible fixed assets | 22/27 | - | €1,071 | +€1,071 | |
| Plant, machinery and equipment | 23 | - | €1,071 | +€1,071 | |
| Current assets | 29/58 | €26,113 | €11,438 | -€14,674 | -56.2% |
| Amounts receivable within one year | 40/41 | €19,234 | €4,858 | -€14,377 | -74.7% |
| Trade receivables | 40 | €16,046 | €2,648 | -€13,398 | -83.5% |
| Other amounts receivable | 41 | €3,188 | €2,210 | -€978 | -30.7% |
| Cash at bank and in hand | 54/58 | €5,215 | €4,907 | -€308 | -5.9% |
| Deferred charges and accrued income | 490/1 | €1,663 | €1,673 | +€10 | +0.6% |
| Total equity and liabilities | 10/49 | €26,113 | €12,509 | -€13,604 | -52.1% |
| Equity | 10/15 | €18,511 | €4,468 | -€14,043 | -75.9% |
| Contributions | 10/11 | €1,400 | €1,400 | = | 0.0% |
| Reserves | 13 | €17,111 | €17,111 | = | 0.0% |
| Distributable reserves | 133 | €17,111 | €17,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€14,043 | -€14,043 | |
| Amounts payable | 17/49 | €7,602 | €8,041 | +€439 | +5.8% |
| Amounts payable within one year | 42/48 | €7,552 | €8,041 | +€489 | +6.5% |
| Trade debts | 44 | €5,162 | €434 | -€4,729 | -91.6% |
| Suppliers | 440/4 | €5,162 | €434 | -€4,729 | -91.6% |
| Taxes, remuneration and social security | 45 | €2,390 | €1,900 | -€490 | -20.5% |
| Taxes | 450/3 | €890 | €300 | -€590 | -66.3% |
| Remuneration and social security | 454/9 | €1,500 | €1,600 | +€100 | +6.7% |
| Other amounts payable | 47/48 | - | €5,707 | +€5,707 | |
| Accrued charges and deferred income | 492/3 | €50 | - | -€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €357 | +€357 | |
| Other operating charges | 640/8 | €1,134 | €1,206 | +€72 | +6.3% |
| Gross operating margin | 9900 | €10,863 | -€11,963 | -€22,825 | |
| Operating profit (loss) | 9901 | €9,729 | -€13,526 | -€23,255 | |
| Financial income | 75/76B | - | €322 | +€322 | |
| Recurring financial income | 75 | - | €322 | +€322 | |
| Financial charges | 65/66B | €959 | €839 | -€120 | -12.5% |
| Recurring financial charges | 65 | €959 | €839 | -€120 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €8,770 | -€14,043 | -€22,813 | |
| Income taxes | 67/77 | €1,861 | - | -€1,861 | |
| Profit (loss) for the period | 9904 | €6,910 | -€14,043 | -€20,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,910 | -€14,043 | -€20,952 |
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 26 October 2026 via checked.be.