ZEDES: 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.
ZEDES
Largest movements
- Cash -€3,844
down €3,844 (-94.6%), from €4,063 to €219
mainly Tax, wage and social debts (-€4,389) and Other debts (-€2,333)
- Stocks and contracts -€500
down €500 (-13.9%), from €3,593 to €3,093
- Tax, wage and social debts -€4,389
down €4,389 (-83.0%), from €5,290 to €901
- Other debts -€2,333
down €2,333 (-25.8%), from €9,038 to €6,704
- Trade debts +€1,780
up €1,780 (+182%), from €978 to €2,758
- Profit (loss) carried forward +€535
up €535 (+2.5%), from -€21,187 to -€20,652
- Gross operating margin -€6,384
down €6,384 (-81.7%), from €7,816 to €1,431
- Other operating charges +€640
new in 2025: €640
- Financial charges -€230
down €230 (-53.4%), from €430 to €200
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 | €13,119 | €8,712 | -€4,407 | -33.6% |
| Fixed assets | 21/28 | €5,400 | €5,400 | = | 0.0% |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €7,719 | €3,312 | -€4,407 | -57.1% |
| Stocks and contracts in progress | 3 | €3,593 | €3,093 | -€500 | -13.9% |
| Stocks | 30/36 | €3,593 | €3,093 | -€500 | -13.9% |
| Amounts receivable within one year | 40/41 | €63 | - | -€63 | |
| Trade receivables | 40 | €63 | - | -€63 | |
| Cash at bank and in hand | 54/58 | €4,063 | €219 | -€3,844 | -94.6% |
| Total equity and liabilities | 10/49 | €13,119 | €8,712 | -€4,407 | -33.6% |
| Equity | 10/15 | -€2,187 | -€1,652 | +€535 | +24.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,187 | -€20,652 | +€535 | +2.5% |
| Amounts payable | 17/49 | €15,306 | €10,364 | -€4,942 | -32.3% |
| Amounts payable within one year | 42/48 | €15,306 | €10,364 | -€4,942 | -32.3% |
| Trade debts | 44 | €978 | €2,758 | +€1,780 | +182% |
| Suppliers | 440/4 | €978 | €2,758 | +€1,780 | +182% |
| Taxes, remuneration and social security | 45 | €5,290 | €901 | -€4,389 | -83.0% |
| Taxes | 450/3 | €5,290 | €901 | -€4,389 | -83.0% |
| Other amounts payable | 47/48 | €9,038 | €6,704 | -€2,333 | -25.8% |
| Other operating charges | 640/8 | - | €640 | +€640 | |
| Non-recurring operating charges | 66A | €504 | €56 | -€448 | -88.9% |
| Gross operating margin | 9900 | €7,816 | €1,431 | -€6,384 | -81.7% |
| Operating profit (loss) | 9901 | €7,312 | €736 | -€6,576 | -89.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €430 | €200 | -€230 | -53.4% |
| Recurring financial charges | 65 | €430 | €200 | -€230 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €6,882 | €535 | -€6,347 | -92.2% |
| Profit (loss) for the period | 9904 | €6,882 | €535 | -€6,347 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,882 | €535 | -€6,347 | -92.2% |
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.