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
- Tangible fixed assets +€34,727
up €34,727 (+1,016%), from €3,417 to €38,144
of which Furniture and vehicles: +€32,969
- Cash +€21,082
up €21,082 (+26.9%), from €78,293 to €99,375
mainly Net result for the year (+€53,883) and Tax, wage and social debts (+€15,832)
- Receivables within one year +€13,329
new in 2025: €13,329
- Profit (loss) carried forward +€53,883
up €53,883 (+92.5%), from €58,267 to €112,151
- Tax, wage and social debts +€15,832
up €15,832 (+74.0%), from €21,391 to €37,223
of which Taxes: +€13,388
- Gross operating margin -€2,648
down €2,648 (-3.6%), from €73,476 to €70,828
- Depreciation +€2,496
up €2,496 (+695%), from €359 to €2,855
- Taxes -€1,082
down €1,082 (-7.4%), from €14,589 to €13,507
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 | €81,710 | €151,723 | +€70,013 | +85.7% |
| Fixed assets | 21/28 | €3,417 | €38,144 | +€34,727 | +1,016% |
| Tangible fixed assets | 22/27 | €3,417 | €38,144 | +€34,727 | +1,016% |
| Plant, machinery and equipment | 23 | - | €1,758 | +€1,758 | |
| Furniture and vehicles | 24 | €3,417 | €36,386 | +€32,969 | +965% |
| Current assets | 29/58 | €78,293 | €113,579 | +€35,286 | +45.1% |
| Amounts receivable within one year | 40/41 | - | €13,329 | +€13,329 | |
| Trade receivables | 40 | - | €13,329 | +€13,329 | |
| Cash at bank and in hand | 54/58 | €78,293 | €99,375 | +€21,082 | +26.9% |
| Deferred charges and accrued income | 490/1 | - | €875 | +€875 | |
| Total equity and liabilities | 10/49 | €81,710 | €151,723 | +€70,013 | +85.7% |
| Equity | 10/15 | €60,267 | €114,151 | +€53,883 | +89.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,267 | €112,151 | +€53,883 | +92.5% |
| Amounts payable | 17/49 | €21,442 | €37,572 | +€16,130 | +75.2% |
| Amounts payable within one year | 42/48 | €21,442 | €37,572 | +€16,130 | +75.2% |
| Trade debts | 44 | €52 | €349 | +€298 | +578% |
| Suppliers | 440/4 | €52 | €349 | +€298 | +578% |
| Taxes, remuneration and social security | 45 | €21,391 | €37,223 | +€15,832 | +74.0% |
| Taxes | 450/3 | €21,391 | €34,778 | +€13,388 | +62.6% |
| Remuneration and social security | 454/9 | - | €2,445 | +€2,445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €359 | €2,855 | +€2,496 | +695% |
| Other operating charges | 640/8 | €201 | €397 | +€196 | +97.7% |
| Non-recurring operating charges | 66A | - | €135 | +€135 | |
| Gross operating margin | 9900 | €73,476 | €70,828 | -€2,648 | -3.6% |
| Operating profit (loss) | 9901 | €72,916 | €67,441 | -€5,475 | -7.5% |
| Financial income | 75/76B | €0 | €3 | +€3 | +29,900% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +29,900% |
| Financial charges | 65/66B | €60 | €54 | -€6 | -10.0% |
| Recurring financial charges | 65 | €60 | €54 | -€6 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €72,856 | €67,390 | -€5,466 | -7.5% |
| Income taxes | 67/77 | €14,589 | €13,507 | -€1,082 | -7.4% |
| Profit (loss) for the period | 9904 | €58,267 | €53,883 | -€4,384 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,267 | €53,883 | -€4,384 | -7.5% |
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 16 October 2026 via checked.be.