ZEDD: what changed
Two fiscal 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.
ZEDD
Largest movements
- Cash -€89,345
down €89,345 (-99.0%), from €90,239 to €894
mainly Receivables within one year (-€74,975) and Trade debts (-€19,547)
- Receivables within one year +€74,975
up €74,975 (+37.8%), from €198,167 to €273,143
of which Trade receivables: +€66,398
- Stocks and contracts +€12,503
up €12,503 (+1883.0%), from €664 to €13,167
- Tangible fixed assets -€7,047
down €7,047 (-27.3%), from €25,848 to €18,801
- Trade debts -€19,547
down €19,547 (-26.6%), from €73,468 to €53,921
- Tax, wage and social debts +€14,830
up €14,830 (+122.3%), from €12,127 to €26,957
of which Remuneration and social security: +€10,799
- Advances received -€6,150
down €6,150 (-100.0%), from €6,150 to €0
- Gross operating margin +€103,887
up €103,887 (+119.1%), from €87,203 to €191,090
- Staff costs +€102,228
up €102,228 (+145.1%), from €70,438 to €172,665
- Financial income -€4,998
down €4,998 (-96.5%), from €5,177 to €180
- Taxes +€4,107
up €4,107 (+53130.0%), from €8 to €4,115
- Financial charges -€4,040
down €4,040 (-51.4%), from €7,864 to €3,824
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.
Cash bridge derived
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 | €316,828 | €308,778 | -€8,050 | -2.5% |
| Fixed assets | 21/28 | €25,848 | €18,801 | -€7,047 | -27.3% |
| Tangible fixed assets | 22/27 | €25,848 | €18,801 | -€7,047 | -27.3% |
| Furniture and vehicles | 24 | €25,848 | €18,801 | -€7,047 | -27.3% |
| Current assets | 29/58 | €290,980 | €289,977 | -€1,002 | -0.3% |
| Stocks and contracts in progress | 3 | €664 | €13,167 | +€12,503 | +1883.0% |
| Stocks | 30/36 | €664 | €13,167 | +€12,503 | +1883.0% |
| Amounts receivable within one year | 40/41 | €198,167 | €273,143 | +€74,975 | +37.8% |
| Trade receivables | 40 | €183,167 | €249,565 | +€66,398 | +36.2% |
| Other amounts receivable | 41 | €15,001 | €23,578 | +€8,577 | +57.2% |
| Cash at bank and in hand | 54/58 | €90,239 | €894 | -€89,345 | -99.0% |
| Deferred charges and accrued income | 490/1 | €1,910 | €2,774 | +€865 | +45.3% |
| Total equity and liabilities | 10/49 | €316,828 | €308,778 | -€8,050 | -2.5% |
| Equity | 10/15 | €224,728 | €227,369 | +€2,640 | +1.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €162,728 | €165,369 | +€2,640 | +1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €156,528 | €159,169 | +€2,640 | +1.7% |
| Amounts payable | 17/49 | €92,099 | €81,410 | -€10,690 | -11.6% |
| Amounts payable within one year | 42/48 | €92,099 | €81,410 | -€10,690 | -11.6% |
| Trade debts | 44 | €73,468 | €53,921 | -€19,547 | -26.6% |
| Suppliers | 440/4 | €73,468 | €53,921 | -€19,547 | -26.6% |
| Advances received on contracts in progress | 46 | €6,150 | €0 | -€6,150 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,127 | €26,957 | +€14,830 | +122.3% |
| Taxes | 450/3 | €3,695 | €7,726 | +€4,031 | +109.1% |
| Remuneration and social security | 454/9 | €8,432 | €19,231 | +€10,799 | +128.1% |
| Other amounts payable | 47/48 | €354 | €531 | +€177 | +50.0% |
| Remuneration, social security and pensions | 62 | €70,438 | €172,665 | +€102,228 | +145.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,798 | €7,047 | +€250 | +3.7% |
| Other operating charges | 640/8 | €1,976 | €978 | -€998 | -50.5% |
| Gross operating margin | 9900 | €87,203 | €191,090 | +€103,887 | +119.1% |
| Operating profit (loss) | 9901 | €7,992 | €10,400 | +€2,408 | +30.1% |
| Financial income | 75/76B | €5,177 | €180 | -€4,998 | -96.5% |
| Recurring financial income | 75 | €5,177 | €180 | -€4,998 | -96.5% |
| Financial charges | 65/66B | €7,864 | €3,824 | -€4,040 | -51.4% |
| Recurring financial charges | 65 | €7,864 | €3,824 | -€4,040 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €5,305 | €6,755 | +€1,450 | +27.3% |
| Income taxes | 67/77 | €8 | €4,115 | +€4,107 | +53130.0% |
| Profit (loss) for the period | 9904 | €5,297 | €2,640 | -€2,657 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,297 | €2,640 | -€2,657 | -50.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.