ZECCTWO: 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.
ZECCTWO
Largest movements
- Cash -€15,473
down €15,473 (-60.1%), from €25,740 to €10,267
mainly Debts after one year (-€20,158) and Trade debts (-€15,575)
- Receivables within one year +€8,753
up €8,753 (+15.4%), from €56,862 to €65,615
of which Trade receivables: +€7,354
- Deferred charges and accrued income -€3,562
down €3,562 (-93.9%), from €3,795 to €233
- Tangible fixed assets -€2,741
down €2,741 (-1.7%), from €158,758 to €156,017
of which Furniture and vehicles: -€3,456
- Debts after one year -€20,158
down €20,158 (-18.9%), from €106,564 to €86,407
- Trade debts -€15,575
down €15,575 (-84.6%), from €18,401 to €2,826
- Tax, wage and social debts +€12,012
up €12,012 (+454%), from €2,645 to €14,657
of which Taxes: +€6,259
- Profit (loss) carried forward +€10,082
up €10,082 (+12.0%), from €83,843 to €93,925
- Staff costs -€19,766
down €19,766 (-38.4%), from €51,517 to €31,751
- Gross operating margin -€11,512
down €11,512 (-16.1%), from €71,564 to €60,052
- Taxes +€4,401
up €4,401 (+331%), from €1,331 to €5,732
- Other operating charges +€1,823
up €1,823 (+113%), from €1,608 to €3,431
- Depreciation +€1,797
up €1,797 (+75.1%), from €2,393 to €4,190
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 | €245,555 | €232,531 | -€13,024 | -5.3% |
| Fixed assets | 21/28 | €159,158 | €156,417 | -€2,741 | -1.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €158,758 | €156,017 | -€2,741 | -1.7% |
| Land and buildings | 22 | €148,501 | €148,501 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,082 | €1,797 | +€715 | +66.1% |
| Furniture and vehicles | 24 | €9,175 | €5,719 | -€3,456 | -37.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €86,397 | €76,114 | -€10,283 | -11.9% |
| Amounts receivable within one year | 40/41 | €56,862 | €65,615 | +€8,753 | +15.4% |
| Trade receivables | 40 | €35,987 | €43,341 | +€7,354 | +20.4% |
| Other amounts receivable | 41 | €20,876 | €22,274 | +€1,398 | +6.7% |
| Cash at bank and in hand | 54/58 | €25,740 | €10,267 | -€15,473 | -60.1% |
| Deferred charges and accrued income | 490/1 | €3,795 | €233 | -€3,562 | -93.9% |
| Total equity and liabilities | 10/49 | €245,555 | €232,531 | -€13,024 | -5.3% |
| Equity | 10/15 | €98,403 | €108,485 | +€10,082 | +10.2% |
| Contributions | 10/11 | €12,700 | €12,700 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,843 | €93,925 | +€10,082 | +12.0% |
| Amounts payable | 17/49 | €147,153 | €124,047 | -€23,106 | -15.7% |
| Amounts payable after more than one year | 17 | €106,564 | €86,407 | -€20,158 | -18.9% |
| Financial debts | 170/4 | €106,564 | €86,407 | -€20,158 | -18.9% |
| Amounts payable within one year | 42/48 | €40,588 | €37,640 | -€2,948 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €19,543 | €20,158 | +€615 | +3.1% |
| Trade debts | 44 | €18,401 | €2,826 | -€15,575 | -84.6% |
| Suppliers | 440/4 | €18,401 | €2,826 | -€15,575 | -84.6% |
| Taxes, remuneration and social security | 45 | €2,645 | €14,657 | +€12,012 | +454% |
| Taxes | 450/3 | €1,357 | €7,616 | +€6,259 | +461% |
| Remuneration and social security | 454/9 | €1,288 | €7,041 | +€5,753 | +447% |
| Remuneration, social security and pensions | 62 | €51,517 | €31,751 | -€19,766 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,393 | €4,190 | +€1,797 | +75.1% |
| Other operating charges | 640/8 | €1,608 | €3,431 | +€1,823 | +113% |
| Non-recurring operating charges | 66A | €4,991 | - | -€4,991 | |
| Gross operating margin | 9900 | €71,564 | €60,052 | -€11,512 | -16.1% |
| Operating profit (loss) | 9901 | €11,055 | €20,680 | +€9,625 | +87.1% |
| Financial income | 75/76B | €1,198 | €1,116 | -€82 | -6.9% |
| Recurring financial income | 75 | €1,198 | €1,116 | -€82 | -6.9% |
| Financial charges | 65/66B | €7,751 | €5,982 | -€1,769 | -22.8% |
| Recurring financial charges | 65 | €7,751 | €5,982 | -€1,769 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €4,502 | €15,814 | +€11,312 | +251% |
| Income taxes | 67/77 | €1,331 | €5,732 | +€4,401 | +331% |
| Profit (loss) for the period | 9904 | €3,171 | €10,082 | +€6,911 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €3,171 | €10,082 | +€6,911 | +218% |
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 28 October 2026 via checked.be.