ZeKo Projects: what changed
ZeKo Projects
Largest movements
- Deferred charges and accrued income +€52,970
up €52,970 (+4,637%), from €1,142 to €54,112
- Receivables within one year -€20,290
down €20,290 (-49.6%), from €40,926 to €20,635
of which Trade receivables: -€28,907
- Cash +€6,908
up €6,908 (+96.1%), from €7,186 to €14,094
mainly Accrued charges and deferred income (+€59,828) and Trade debts (+€23,368)
- Tangible fixed assets +€6,003
up €6,003 (+75.8%), from €7,916 to €13,919
of which Other tangible fixed assets: +€12,688
- Intangible fixed assets +€1,453
new in 2025: €1,453
- Accrued charges and deferred income +€59,828
up €59,828 (+34,802%), from €172 to €60,000
- Reserves -€29,665
down €29,665 (-92.0%), from €32,255 to €2,589
- Trade debts +€23,368
up €23,368 (+400%), from €5,840 to €29,208
- Debts after one year -€4,790
down €4,790 (-85.4%), from €5,610 to €821
- Tax, wage and social debts -€1,921
down €1,921 (-23.9%), from €8,027 to €6,107
- Gross operating margin -€55,207
down €55,207, from €33,768 to -€21,439
- Taxes -€6,002
down €6,002 (-100%), from €6,002 to €0
- Other operating charges -€548
down €548 (-42.5%), from €1,289 to €741
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,470 | €106,514 | +€47,044 | +79.1% |
| Fixed assets | 21/28 | €10,216 | €17,672 | +€7,456 | +73.0% |
| Intangible fixed assets | 21 | - | €1,453 | +€1,453 | |
| Tangible fixed assets | 22/27 | €7,916 | €13,919 | +€6,003 | +75.8% |
| Furniture and vehicles | 24 | €7,916 | €1,231 | -€6,685 | -84.5% |
| Other tangible fixed assets | 26 | - | €12,688 | +€12,688 | |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €49,254 | €88,842 | +€39,588 | +80.4% |
| Amounts receivable within one year | 40/41 | €40,926 | €20,635 | -€20,290 | -49.6% |
| Trade receivables | 40 | €39,706 | €10,800 | -€28,907 | -72.8% |
| Other amounts receivable | 41 | €1,219 | €9,836 | +€8,616 | +707% |
| Cash at bank and in hand | 54/58 | €7,186 | €14,094 | +€6,908 | +96.1% |
| Deferred charges and accrued income | 490/1 | €1,142 | €54,112 | +€52,970 | +4,637% |
| Total equity and liabilities | 10/49 | €59,470 | €106,514 | +€47,044 | +79.1% |
| Equity | 10/15 | €35,255 | €5,589 | -€29,665 | -84.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,255 | €2,589 | -€29,665 | -92.0% |
| Distributable reserves | 133 | €32,255 | €2,589 | -€29,665 | -92.0% |
| Amounts payable | 17/49 | €24,215 | €100,925 | +€76,710 | +317% |
| Amounts payable after more than one year | 17 | €5,610 | €821 | -€4,790 | -85.4% |
| Financial debts | 170/4 | €5,610 | €821 | -€4,790 | -85.4% |
| Amounts payable within one year | 42/48 | €18,433 | €40,104 | +€21,671 | +118% |
| Current portion of amounts payable after more than one year | 42 | €4,566 | €4,790 | +€224 | +4.9% |
| Trade debts | 44 | €5,840 | €29,208 | +€23,368 | +400% |
| Suppliers | 440/4 | €5,840 | €29,208 | +€23,368 | +400% |
| Taxes, remuneration and social security | 45 | €8,027 | €6,107 | -€1,921 | -23.9% |
| Taxes | 450/3 | €8,027 | €6,107 | -€1,921 | -23.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €172 | €60,000 | +€59,828 | +34,802% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,685 | €6,996 | +€311 | +4.6% |
| Other operating charges | 640/8 | €1,289 | €741 | -€548 | -42.5% |
| Gross operating margin | 9900 | €33,768 | -€21,439 | -€55,207 | |
| Operating profit (loss) | 9901 | €25,794 | -€29,176 | -€54,970 | |
| Financial income | 75/76B | €11 | €53 | +€43 | +405% |
| Recurring financial income | 75 | €11 | €53 | +€43 | +405% |
| Financial charges | 65/66B | €870 | €543 | -€327 | -37.6% |
| Recurring financial charges | 65 | €870 | €543 | -€327 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €24,935 | -€29,665 | -€54,600 | |
| Income taxes | 67/77 | €6,002 | €0 | -€6,002 | -100% |
| Profit (loss) for the period | 9904 | €18,933 | -€29,665 | -€48,598 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,933 | -€29,665 | -€48,598 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.