ZDS & TMC: 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.
ZDS & TMC
Largest movements
- Receivables within one year +€30,423
up €30,423 (+83.7%), from €36,333 to €66,756
of which Trade receivables: +€28,856
- Cash +€5,466
up €5,466 (+227%), from €2,410 to €7,876
mainly Net result for the year (+€16,883) and Tax, wage and social debts (+€12,334)
- Reserves +€21,770
new in 2025: €21,770
- Tax, wage and social debts +€12,334
up €12,334 (+511%), from €2,416 to €14,750
of which Taxes: +€6,872
- Trade debts +€7,363
up €7,363 (+25.3%), from €29,080 to €36,443
- Profit (loss) carried forward -€4,887
no longer reported in 2025 (was €4,887)
- Gross operating margin +€50,392
up €50,392 (+505%), from €9,974 to €60,366
- Staff costs +€35,921
up €35,921 (+1,497%), from €2,400 to €38,321
- Taxes +€2,953
up €2,953 (+231%), from €1,280 to €4,233
- Other operating charges -€770
down €770 (-57.2%), from €1,347 to €577
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 | €39,724 | €76,180 | +€36,456 | +91.8% |
| Current assets | 29/58 | €39,724 | €76,180 | +€36,456 | +91.8% |
| Amounts receivable within one year | 40/41 | €36,333 | €66,756 | +€30,423 | +83.7% |
| Trade receivables | 40 | €35,810 | €64,666 | +€28,856 | +80.6% |
| Other amounts receivable | 41 | €523 | €2,090 | +€1,567 | +299% |
| Cash at bank and in hand | 54/58 | €2,410 | €7,876 | +€5,466 | +227% |
| Deferred charges and accrued income | 490/1 | €981 | €1,548 | +€567 | +57.9% |
| Total equity and liabilities | 10/49 | €39,724 | €76,180 | +€36,456 | +91.8% |
| Equity | 10/15 | €7,887 | €24,770 | +€16,883 | +214% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €21,770 | +€21,770 | |
| Distributable reserves | 133 | - | €21,770 | +€21,770 | |
| Profit (loss) carried forward | 14 | €4,887 | - | -€4,887 | |
| Amounts payable | 17/49 | €31,837 | €51,410 | +€19,573 | +61.5% |
| Amounts payable within one year | 42/48 | €31,837 | €51,410 | +€19,573 | +61.5% |
| Trade debts | 44 | €29,080 | €36,443 | +€7,363 | +25.3% |
| Suppliers | 440/4 | €29,080 | €36,443 | +€7,363 | +25.3% |
| Taxes, remuneration and social security | 45 | €2,416 | €14,750 | +€12,334 | +511% |
| Taxes | 450/3 | €2,416 | €9,288 | +€6,872 | +284% |
| Remuneration and social security | 454/9 | - | €5,462 | +€5,462 | |
| Other amounts payable | 47/48 | €341 | €217 | -€124 | -36.4% |
| Remuneration, social security and pensions | 62 | €2,400 | €38,321 | +€35,921 | +1,497% |
| Other operating charges | 640/8 | €1,347 | €577 | -€770 | -57.2% |
| Gross operating margin | 9900 | €9,974 | €60,366 | +€50,392 | +505% |
| Operating profit (loss) | 9901 | €6,226 | €21,468 | +€15,242 | +245% |
| Financial income | 75/76B | €0 | €82 | +€82 | +136,450% |
| Recurring financial income | 75 | €0 | €82 | +€82 | +136,450% |
| Financial charges | 65/66B | €59 | €434 | +€375 | +634% |
| Recurring financial charges | 65 | €59 | €434 | +€375 | +634% |
| Profit (loss) for the period before taxes | 9903 | €6,167 | €21,116 | +€14,949 | +242% |
| Income taxes | 67/77 | €1,280 | €4,233 | +€2,953 | +231% |
| Profit (loss) for the period | 9904 | €4,887 | €16,883 | +€11,996 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €4,887 | €16,883 | +€11,996 | +245% |
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 14 October 2026 via checked.be.