ZEDdaken: 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.
ZEDdaken
Largest movements
- Deferred charges and accrued income -€248,903
down €248,903 (-100.0%), from €248,903 to €0
- Receivables within one year +€38,322
up €38,322 (+7.3%), from €522,504 to €560,826
of which Trade receivables: +€141,640
- Cash +€24,526
up €24,526 (+195.3%), from €12,555 to €37,081
mainly Deferred charges and accrued income (+€248,903) and Short-term financial debts (+€150,000)
- Stocks and contracts -€20,000
down €20,000 (-65.4%), from €30,589 to €10,589
- Current portion of long-term debt -€150,000
no longer reported in 2025 (was €150,000)
- Short-term financial debts +€150,000
new in 2025: €150,000
- Trade debts -€141,836
down €141,836 (-37.2%), from €380,955 to €239,120
- Advances received -€106,462
down €106,462 (-100.0%), from €106,462 to €0
- Tax, wage and social debts +€39,174
up €39,174 (+2160.1%), from €1,814 to €40,988
of which Taxes: +€30,124
- Gross operating margin -€73,499
down €73,499 (-25.5%), from €288,187 to €214,688
- Staff costs -€18,504
down €18,504 (-8.5%), from €216,605 to €198,101
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 | €816,222 | €609,615 | -€206,607 | -25.3% |
| Fixed assets | 21/28 | €1,670 | €1,118 | -€552 | -33.1% |
| Tangible fixed assets | 22/27 | €1,470 | €918 | -€552 | -37.6% |
| Furniture and vehicles | 24 | €1,470 | €918 | -€552 | -37.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €814,552 | €608,497 | -€206,055 | -25.3% |
| Stocks and contracts in progress | 3 | €30,589 | €10,589 | -€20,000 | -65.4% |
| Stocks | 30/36 | €30,589 | €10,589 | -€20,000 | -65.4% |
| Amounts receivable within one year | 40/41 | €522,504 | €560,826 | +€38,322 | +7.3% |
| Trade receivables | 40 | €30,755 | €172,394 | +€141,640 | +460.5% |
| Other amounts receivable | 41 | €491,750 | €388,432 | -€103,318 | -21.0% |
| Cash at bank and in hand | 54/58 | €12,555 | €37,081 | +€24,526 | +195.3% |
| Deferred charges and accrued income | 490/1 | €248,903 | €0 | -€248,903 | -100.0% |
| Total equity and liabilities | 10/49 | €816,222 | €609,615 | -€206,607 | -25.3% |
| Equity | 10/15 | €176,991 | €179,507 | +€2,517 | +1.4% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €94,000 | €94,000 | = | 0.0% |
| Distributable reserves | 133 | €94,000 | €94,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,009 | €507 | +€2,517 | |
| Amounts payable | 17/49 | €639,231 | €430,108 | -€209,123 | -32.7% |
| Amounts payable within one year | 42/48 | €639,231 | €430,108 | -€209,123 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | - | -€150,000 | |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €380,955 | €239,120 | -€141,836 | -37.2% |
| Suppliers | 440/4 | €380,955 | €239,120 | -€141,836 | -37.2% |
| Advances received on contracts in progress | 46 | €106,462 | €0 | -€106,462 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,814 | €40,988 | +€39,174 | +2160.1% |
| Taxes | 450/3 | €1,814 | €31,937 | +€30,124 | +1661.0% |
| Remuneration and social security | 454/9 | - | €9,050 | +€9,050 | |
| Remuneration, social security and pensions | 62 | €216,605 | €198,101 | -€18,504 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €552 | €552 | = | 0.0% |
| Other operating charges | 640/8 | €3,884 | €2,311 | -€1,574 | -40.5% |
| Gross operating margin | 9900 | €288,187 | €214,688 | -€73,499 | -25.5% |
| Operating profit (loss) | 9901 | €67,146 | €13,724 | -€53,422 | -79.6% |
| Financial income | 75/76B | €124 | €2 | -€122 | -98.5% |
| Recurring financial income | 75 | €124 | €2 | -€122 | -98.5% |
| Financial charges | 65/66B | €10,030 | €9,438 | -€592 | -5.9% |
| Recurring financial charges | 65 | €10,030 | €9,438 | -€592 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €57,240 | €4,287 | -€52,952 | -92.5% |
| Income taxes | 67/77 | €1,726 | €1,771 | +€45 | +2.6% |
| Profit (loss) for the period | 9904 | €55,514 | €2,517 | -€52,997 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,514 | €2,517 | -€52,997 | -95.5% |
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 11 October 2026 via checked.be.