Zeal: 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.
Zeal
Largest movements
- Cash +€43,466
up €43,466 (+47.8%), from €90,951 to €134,418
mainly Net result for the year (+€44,831) and Tax, wage and social debts (+€9,296)
- Stocks and contracts +€7,310
up €7,310 (+36.0%), from €20,306 to €27,616
- Receivables within one year +€6,243
up €6,243 (+65.0%), from €9,610 to €15,853
of which Trade receivables: +€6,231
- Deferred charges and accrued income -€2,028
down €2,028 (-69.0%), from €2,939 to €911
- Reserves +€44,831
up €44,831 (+44.3%), from €101,087 to €145,919
- Tax, wage and social debts +€9,296
up €9,296 (+236%), from €3,939 to €13,236
of which Taxes: +€7,138
- Trade debts +€4,900
up €4,900 (+1,698%), from €289 to €5,189
- Other debts -€3,567
down €3,567 (-69.1%), from €5,162 to €1,595
- Gross operating margin +€7,800
up €7,800 (+15.0%), from €52,155 to €59,955
- Taxes +€1,718
up €1,718 (+14.4%), from €11,939 to €13,657
- Depreciation -€881
down €881 (-51.1%), from €1,723 to €842
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 | €128,204 | €182,354 | +€54,150 | +42.2% |
| Fixed assets | 21/28 | €4,398 | €3,556 | -€842 | -19.1% |
| Tangible fixed assets | 22/27 | €4,398 | €3,556 | -€842 | -19.1% |
| Plant, machinery and equipment | 23 | €4,398 | €3,556 | -€842 | -19.1% |
| Current assets | 29/58 | €123,806 | €178,798 | +€54,991 | +44.4% |
| Stocks and contracts in progress | 3 | €20,306 | €27,616 | +€7,310 | +36.0% |
| Stocks | 30/36 | €20,306 | €27,616 | +€7,310 | +36.0% |
| Amounts receivable within one year | 40/41 | €9,610 | €15,853 | +€6,243 | +65.0% |
| Trade receivables | 40 | €8,586 | €14,817 | +€6,231 | +72.6% |
| Other amounts receivable | 41 | €1,024 | €1,036 | +€12 | +1.2% |
| Cash at bank and in hand | 54/58 | €90,951 | €134,418 | +€43,466 | +47.8% |
| Deferred charges and accrued income | 490/1 | €2,939 | €911 | -€2,028 | -69.0% |
| Total equity and liabilities | 10/49 | €128,204 | €182,354 | +€54,150 | +42.2% |
| Equity | 10/15 | €117,087 | €161,919 | +€44,831 | +38.3% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €101,087 | €145,919 | +€44,831 | +44.3% |
| Distributable reserves | 133 | €101,087 | €145,919 | +€44,831 | +44.3% |
| Amounts payable | 17/49 | €11,117 | €20,436 | +€9,318 | +83.8% |
| Amounts payable within one year | 42/48 | €9,540 | €20,370 | +€10,829 | +114% |
| Trade debts | 44 | €289 | €5,189 | +€4,900 | +1,698% |
| Suppliers | 440/4 | €289 | €5,189 | +€4,900 | +1,698% |
| Advances received on contracts in progress | 46 | €150 | €350 | +€200 | +133% |
| Taxes, remuneration and social security | 45 | €3,939 | €13,236 | +€9,296 | +236% |
| Taxes | 450/3 | €3,939 | €11,077 | +€7,138 | +181% |
| Remuneration and social security | 454/9 | - | €2,158 | +€2,158 | |
| Other amounts payable | 47/48 | €5,162 | €1,595 | -€3,567 | -69.1% |
| Accrued charges and deferred income | 492/3 | €1,577 | €66 | -€1,511 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,723 | €842 | -€881 | -51.1% |
| Other operating charges | 640/8 | €513 | €533 | +€20 | +3.9% |
| Gross operating margin | 9900 | €52,155 | €59,955 | +€7,800 | +15.0% |
| Operating profit (loss) | 9901 | €49,919 | €58,580 | +€8,661 | +17.4% |
| Financial income | 75/76B | €22 | €39 | +€18 | +80.8% |
| Recurring financial income | 75 | €22 | €39 | +€18 | +80.8% |
| Financial charges | 65/66B | €118 | €131 | +€13 | +11.5% |
| Recurring financial charges | 65 | €118 | €131 | +€13 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €49,823 | €58,488 | +€8,665 | +17.4% |
| Income taxes | 67/77 | €11,939 | €13,657 | +€1,718 | +14.4% |
| Profit (loss) for the period | 9904 | €37,884 | €44,831 | +€6,947 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,884 | €44,831 | +€6,947 | +18.3% |
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 15 October 2026 via checked.be.