ZELOS EVENTS: 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.
ZELOS EVENTS
Largest movements
- Cash +€67,186
up €67,186 (+185%), from €36,307 to €103,493
mainly Receivables within one year (+€30,954) and Trade debts (+€25,986)
- Receivables within one year -€30,954
down €30,954 (-47.9%), from €64,568 to €33,614
of which Other amounts receivable: -€49,473
- Deferred charges and accrued income -€16,855
no longer reported in 2025 (was €16,855)
- Trade debts +€25,986
up €25,986 (+25.5%), from €101,974 to €127,960
- Accrued charges and deferred income +€20,664
up €20,664 (+21,070%), from €98 to €20,762
- Other debts -€20,564
down €20,564 (-63.1%), from €32,564 to €12,000
- Debts after one year -€10,000
no longer reported in 2025 (was €10,000)
- Financial income -€234,994
no longer reported in 2025 (was €234,994)
- Depreciation -€15,676
down €15,676 (-74.1%), from €21,155 to €5,478
- Gross operating margin -€11,215
down €11,215 (-76.3%), from €14,694 to €3,479
- Financial charges -€9,168
down €9,168 (-93.9%), from €9,765 to €597
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 | €509,978 | €523,876 | +€13,898 | +2.7% |
| Fixed assets | 21/28 | €392,248 | €386,770 | -€5,478 | -1.4% |
| Intangible fixed assets | 21 | €3,333 | - | -€3,333 | |
| Tangible fixed assets | 22/27 | €6,142 | €3,998 | -€2,145 | -34.9% |
| Furniture and vehicles | 24 | €6,142 | €3,998 | -€2,145 | -34.9% |
| Financial fixed assets | 28 | €382,772 | €382,772 | = | 0.0% |
| Current assets | 29/58 | €117,730 | €137,106 | +€19,376 | +16.5% |
| Amounts receivable within one year | 40/41 | €64,568 | €33,614 | -€30,954 | -47.9% |
| Trade receivables | 40 | €14,401 | €32,920 | +€18,519 | +129% |
| Other amounts receivable | 41 | €50,167 | €694 | -€49,473 | -98.6% |
| Cash at bank and in hand | 54/58 | €36,307 | €103,493 | +€67,186 | +185% |
| Deferred charges and accrued income | 490/1 | €16,855 | - | -€16,855 | |
| Total equity and liabilities | 10/49 | €509,978 | €523,876 | +€13,898 | +2.7% |
| Equity | 10/15 | €365,341 | €362,014 | -€3,327 | -0.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,659 | -€37,986 | -€3,327 | -9.6% |
| Amounts payable | 17/49 | €144,637 | €161,862 | +€17,225 | +11.9% |
| Amounts payable after more than one year | 17 | €10,000 | - | -€10,000 | |
| Other amounts payable | 178/9 | €10,000 | - | -€10,000 | |
| Amounts payable within one year | 42/48 | €134,539 | €141,100 | +€6,561 | +4.9% |
| Trade debts | 44 | €101,974 | €127,960 | +€25,986 | +25.5% |
| Suppliers | 440/4 | €101,974 | €127,960 | +€25,986 | +25.5% |
| Advances received on contracts in progress | 46 | - | €1,140 | +€1,140 | |
| Other amounts payable | 47/48 | €32,564 | €12,000 | -€20,564 | -63.1% |
| Accrued charges and deferred income | 492/3 | €98 | €20,762 | +€20,664 | +21,070% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,155 | €5,478 | -€15,676 | -74.1% |
| Other operating charges | 640/8 | €702 | €730 | +€28 | +4.0% |
| Gross operating margin | 9900 | €14,694 | €3,479 | -€11,215 | -76.3% |
| Operating profit (loss) | 9901 | -€7,163 | -€2,730 | +€4,433 | +61.9% |
| Financial income | 75/76B | €234,994 | - | -€234,994 | |
| Recurring financial income | 75 | €234,994 | - | -€234,994 | |
| Financial charges | 65/66B | €9,765 | €597 | -€9,168 | -93.9% |
| Recurring financial charges | 65 | €9,765 | €597 | -€9,168 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €218,066 | -€3,327 | -€221,392 | |
| Profit (loss) for the period | 9904 | €218,066 | -€3,327 | -€221,392 | |
| Profit (loss) for the period to be appropriated | 9905 | €218,066 | -€3,327 | -€221,392 |
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 14 October 2026 via checked.be.