ZEMOG FINANCES: 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.
ZEMOG FINANCES
Largest movements
- Intangible fixed assets -€78,000
down €78,000 (-33.1%), from €235,923 to €157,923
- Cash +€71,697
up €71,697 (+45.1%), from €158,986 to €230,683
mainly Depreciation (+€83,156) and Net result for the year (+€50,097)
- Tangible fixed assets +€19,827
up €19,827 (+142%), from €13,940 to €33,767
of which Furniture and vehicles: +€19,051
- Profit (loss) carried forward +€48,197
up €48,197 (+130%), from €36,980 to €85,177
- Debts after one year -€35,609
down €35,609 (-12.4%), from €288,153 to €252,543
- Trade debts +€7,967
up €7,967 (+65.1%), from €12,236 to €20,203
- Other debts -€5,000
down €5,000 (-72.5%), from €6,900 to €1,900
- Gross operating margin +€19,809
up €19,809 (+7.2%), from €274,777 to €294,585
- Staff costs +€7,192
up €7,192 (+5.7%), from €125,972 to €133,164
- Financial income +€5,595
up €5,595 (+18,896%), from €30 to €5,625
- Other operating charges +€3,922
up €3,922 (+589%), from €666 to €4,588
- Depreciation +€3,836
up €3,836 (+4.8%), from €79,320 to €83,156
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 | €452,903 | €471,259 | +€18,356 | +4.1% |
| Fixed assets | 21/28 | €249,863 | €191,690 | -€58,173 | -23.3% |
| Intangible fixed assets | 21 | €235,923 | €157,923 | -€78,000 | -33.1% |
| Tangible fixed assets | 22/27 | €13,940 | €33,767 | +€19,827 | +142% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €9,976 | €29,027 | +€19,051 | +191% |
| Other tangible fixed assets | 26 | €3,963 | €4,740 | +€777 | +19.6% |
| Current assets | 29/58 | €203,040 | €279,569 | +€76,529 | +37.7% |
| Amounts receivable within one year | 40/41 | €1,240 | €2,099 | +€859 | +69.2% |
| Trade receivables | 40 | €1,240 | €0 | -€1,240 | -100% |
| Other amounts receivable | 41 | - | €2,099 | +€2,099 | |
| Cash at bank and in hand | 54/58 | €158,986 | €230,683 | +€71,697 | +45.1% |
| Deferred charges and accrued income | 490/1 | €42,813 | €46,787 | +€3,974 | +9.3% |
| Total equity and liabilities | 10/49 | €452,903 | €471,259 | +€18,356 | +4.1% |
| Equity | 10/15 | €96,980 | €145,177 | +€48,197 | +49.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,980 | €85,177 | +€48,197 | +130% |
| Amounts payable | 17/49 | €355,922 | €326,082 | -€29,840 | -8.4% |
| Amounts payable after more than one year | 17 | €288,153 | €252,543 | -€35,609 | -12.4% |
| Financial debts | 170/4 | €288,153 | €252,543 | -€35,609 | -12.4% |
| Amounts payable within one year | 42/48 | €66,751 | €72,724 | +€5,973 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €34,407 | €35,609 | +€1,202 | +3.5% |
| Trade debts | 44 | €12,236 | €20,203 | +€7,967 | +65.1% |
| Suppliers | 440/4 | €12,236 | €20,203 | +€7,967 | +65.1% |
| Taxes, remuneration and social security | 45 | €13,208 | €15,011 | +€1,803 | +13.7% |
| Taxes | 450/3 | €89 | €0 | -€89 | -100% |
| Remuneration and social security | 454/9 | €13,120 | €15,011 | +€1,892 | +14.4% |
| Other amounts payable | 47/48 | €6,900 | €1,900 | -€5,000 | -72.5% |
| Accrued charges and deferred income | 492/3 | €1,019 | €815 | -€204 | -20.0% |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | €125,972 | €133,164 | +€7,192 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,320 | €83,156 | +€3,836 | +4.8% |
| Other operating charges | 640/8 | €666 | €4,588 | +€3,922 | +589% |
| Non-recurring operating charges | 66A | €1 | €0 | -€1 | -93.2% |
| Gross operating margin | 9900 | €274,777 | €294,585 | +€19,809 | +7.2% |
| Operating profit (loss) | 9901 | €68,818 | €73,678 | +€4,861 | +7.1% |
| Financial income | 75/76B | €30 | €5,625 | +€5,595 | +18,896% |
| Recurring financial income | 75 | €30 | €5,625 | +€5,595 | +18,896% |
| Financial charges | 65/66B | €11,785 | €10,608 | -€1,176 | -10.0% |
| Recurring financial charges | 65 | €11,785 | €10,608 | -€1,176 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €57,062 | €68,694 | +€11,632 | +20.4% |
| Income taxes | 67/77 | €15,089 | €18,598 | +€3,509 | +23.3% |
| Profit (loss) for the period | 9904 | €41,974 | €50,097 | +€8,123 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,974 | €50,097 | +€8,123 | +19.4% |
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 27 October 2026 via checked.be.