ZEMTEC: what changed
ZEMTEC
Largest movements
- Cash +€13,287
up €13,287 (+48.2%), from €27,565 to €40,852
mainly Net result for the year (+€51,071) and Depreciation (+€16,056)
- Tangible fixed assets -€7,776
down €7,776 (-12.7%), from €61,338 to €53,561
of which Furniture and vehicles: -€7,988
- Receivables within one year -€7,109
down €7,109 (-21.2%), from €33,541 to €26,433
of which Other amounts receivable: -€14,891
- Other debts +€10,344
up €10,344 (+24.0%), from €43,048 to €53,392
- Debts after one year -€5,968
down €5,968 (-24.1%), from €24,797 to €18,829
- Short-term financial debts -€3,926
no longer reported in 2025 (was €3,926)
- Trade debts -€1,240
down €1,240 (-45.1%), from €2,751 to €1,511
- Financial income -€22,570
down €22,570 (-96.0%), from €23,502 to €932
of which Non-recurring financial income: -€22,957
- Depreciation +€10,332
up €10,332 (+181%), from €5,724 to €16,056
- Taxes -€7,893
down €7,893 (-30.9%), from €25,538 to €17,645
- Gross operating margin +€4,711
up €4,711 (+5.8%), from €81,140 to €85,851
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 | €122,602 | €121,101 | -€1,502 | -1.2% |
| Formation expenses | 20 | €151 | - | -€151 | |
| Fixed assets | 21/28 | €61,338 | €53,561 | -€7,776 | -12.7% |
| Tangible fixed assets | 22/27 | €61,338 | €53,561 | -€7,776 | -12.7% |
| Plant, machinery and equipment | 23 | €7,440 | €7,652 | +€212 | +2.8% |
| Furniture and vehicles | 24 | €53,897 | €45,909 | -€7,988 | -14.8% |
| Current assets | 29/58 | €61,114 | €67,539 | +€6,426 | +10.5% |
| Amounts receivable within one year | 40/41 | €33,541 | €26,433 | -€7,109 | -21.2% |
| Trade receivables | 40 | €17,480 | €25,262 | +€7,783 | +44.5% |
| Other amounts receivable | 41 | €16,062 | €1,170 | -€14,891 | -92.7% |
| Cash at bank and in hand | 54/58 | €27,565 | €40,852 | +€13,287 | +48.2% |
| Deferred charges and accrued income | 490/1 | €7 | €255 | +€248 | +3,405% |
| Total equity and liabilities | 10/49 | €122,602 | €121,101 | -€1,502 | -1.2% |
| Equity | 10/15 | €29,837 | €29,909 | +€71 | +0.2% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237 | €309 | +€71 | +30.1% |
| Amounts payable | 17/49 | €92,765 | €91,192 | -€1,573 | -1.7% |
| Amounts payable after more than one year | 17 | €24,797 | €18,829 | -€5,968 | -24.1% |
| Financial debts | 170/4 | €24,797 | €18,829 | -€5,968 | -24.1% |
| Amounts payable within one year | 42/48 | €67,968 | €72,274 | +€4,306 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €5,735 | €5,968 | +€233 | +4.1% |
| Financial debts | 43 | €3,926 | - | -€3,926 | |
| Credit institutions | 430/8 | €3,926 | - | -€3,926 | |
| Trade debts | 44 | €2,751 | €1,511 | -€1,240 | -45.1% |
| Suppliers | 440/4 | €2,751 | €1,511 | -€1,240 | -45.1% |
| Taxes, remuneration and social security | 45 | €12,507 | €11,402 | -€1,105 | -8.8% |
| Taxes | 450/3 | €12,507 | €11,402 | -€1,105 | -8.8% |
| Other amounts payable | 47/48 | €43,048 | €53,392 | +€10,344 | +24.0% |
| Accrued charges and deferred income | 492/3 | - | €89 | +€89 | |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,724 | €16,056 | +€10,332 | +181% |
| Gross operating margin | 9900 | €81,140 | €85,851 | +€4,711 | +5.8% |
| Operating profit (loss) | 9901 | €75,029 | €69,395 | -€5,634 | -7.5% |
| Financial income | 75/76B | €23,502 | €932 | -€22,570 | -96.0% |
| Recurring financial income | 75 | €11 | €398 | +€387 | +3,639% |
| Non-recurring financial income | 76B | €23,492 | €534 | -€22,957 | -97.7% |
| Financial charges | 65/66B | €836 | €1,611 | +€775 | +92.8% |
| Recurring financial charges | 65 | €796 | €1,611 | +€815 | +102% |
| Non-recurring financial charges | 66B | €40 | - | -€40 | |
| Profit (loss) for the period before taxes | 9903 | €97,696 | €68,717 | -€28,979 | -29.7% |
| Income taxes | 67/77 | €25,538 | €17,645 | -€7,893 | -30.9% |
| Profit (loss) for the period | 9904 | €72,158 | €51,071 | -€21,086 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,158 | €51,071 | -€21,086 | -29.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.