ZEGO: 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.
ZEGO
Largest movements
- Receivables within one year -€23,231
down €23,231 (-86.7%), from €26,800 to €3,569
of which Trade receivables: -€25,418
- Cash +€22,649
up €22,649 (+153%), from €14,828 to €37,477
mainly Receivables within one year (+€23,231) and Depreciation (+€6,998)
- Tangible fixed assets -€6,998
down €6,998 (-24.2%), from €28,971 to €21,972
- Deferred charges and accrued income +€1,192
up €1,192 (+88.3%), from €1,350 to €2,542
- Tax, wage and social debts -€6,744
no longer reported in 2025 (was €6,744)
- Profit (loss) carried forward +€5,305
up €5,305 (+7.2%), from -€73,894 to -€68,589
- Debts after one year -€4,849
down €4,849 (-22.4%), from €21,675 to €16,826
- Trade debts -€2,124
down €2,124 (-51.5%), from €4,122 to €1,998
- Other debts +€1,293
up €1,293 (+13.9%), from €9,283 to €10,576
- Turnover +€41,666
up €41,666 (+23.7%), from €175,443 to €217,109
- Purchases and services +€34,421
up €34,421 (+20.4%), from €168,463 to €202,884
- Gross operating margin -€4,687
down €4,687 (-22.8%), from €20,562 to €15,875
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 | €72,348 | €65,960 | -€6,389 | -8.8% |
| Fixed assets | 21/28 | €29,371 | €22,372 | -€6,998 | -23.8% |
| Tangible fixed assets | 22/27 | €28,971 | €21,972 | -€6,998 | -24.2% |
| Leasing and similar rights | 25 | €28,971 | €21,972 | -€6,998 | -24.2% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €42,978 | €43,587 | +€610 | +1.4% |
| Amounts receivable within one year | 40/41 | €26,800 | €3,569 | -€23,231 | -86.7% |
| Trade receivables | 40 | €26,800 | €1,382 | -€25,418 | -94.8% |
| Other amounts receivable | 41 | - | €2,187 | +€2,187 | |
| Cash at bank and in hand | 54/58 | €14,828 | €37,477 | +€22,649 | +153% |
| Deferred charges and accrued income | 490/1 | €1,350 | €2,542 | +€1,192 | +88.3% |
| Total equity and liabilities | 10/49 | €72,348 | €65,960 | -€6,389 | -8.8% |
| Equity | 10/15 | €26,106 | €31,411 | +€5,305 | +20.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,894 | -€68,589 | +€5,305 | +7.2% |
| Amounts payable | 17/49 | €46,243 | €34,549 | -€11,694 | -25.3% |
| Amounts payable after more than one year | 17 | €21,675 | €16,826 | -€4,849 | -22.4% |
| Financial debts | 170/4 | €21,675 | €16,826 | -€4,849 | -22.4% |
| Amounts payable within one year | 42/48 | €24,567 | €17,423 | -€7,144 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €4,418 | €4,849 | +€431 | +9.8% |
| Trade debts | 44 | €4,122 | €1,998 | -€2,124 | -51.5% |
| Suppliers | 440/4 | €4,122 | €1,998 | -€2,124 | -51.5% |
| Taxes, remuneration and social security | 45 | €6,744 | - | -€6,744 | |
| Taxes | 450/3 | €6,744 | - | -€6,744 | |
| Other amounts payable | 47/48 | €9,283 | €10,576 | +€1,293 | +13.9% |
| Accrued charges and deferred income | 492/3 | - | €300 | +€300 | |
| Turnover | 70 | €175,443 | €217,109 | +€41,666 | +23.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €168,463 | €202,884 | +€34,421 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,020 | €6,998 | +€978 | +16.2% |
| Other operating charges | 640/8 | €417 | €697 | +€280 | +67.0% |
| Non-recurring operating charges | 66A | - | €306 | +€306 | |
| Gross operating margin | 9900 | €20,562 | €15,875 | -€4,687 | -22.8% |
| Operating profit (loss) | 9901 | €14,124 | €7,873 | -€6,251 | -44.3% |
| Financial charges | 65/66B | €2,580 | €2,568 | -€11 | -0.4% |
| Recurring financial charges | 65 | €2,580 | €2,568 | -€11 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €11,545 | €5,305 | -€6,240 | -54.0% |
| Profit (loss) for the period | 9904 | €11,545 | €5,305 | -€6,240 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,545 | €5,305 | -€6,240 | -54.0% |
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 21 October 2026 via checked.be.