ZEN: 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.
ZEN
Largest movements
- Receivables within one year -€6,342
down €6,342 (-13.1%), from €48,311 to €41,970
of which Trade receivables: -€4,155
- Cash -€3,514
down €3,514 (-100%), from €3,514 to €0
mainly Trade debts (-€7,919) and Other debts (-€2,486)
- Tangible fixed assets -€2,664
down €2,664 (-18.9%), from €14,089 to €11,425
of which Furniture and vehicles: -€5,162
- Trade debts -€7,919
down €7,919 (-53.0%), from €14,940 to €7,021
- Other debts -€2,486
down €2,486 (-8.3%), from €30,050 to €27,565
- Profit (loss) carried forward -€2,363
down €2,363 (-22.4%), from €10,536 to €8,173
- Tax, wage and social debts -€1,584
down €1,584 (-21.9%), from €7,243 to €5,659
of which Taxes: -€1,584
- Short-term financial debts +€1,215
up €1,215 (+26.2%), from €4,645 to €5,861
- Gross operating margin -€6,848
down €6,848 (-49.0%), from €13,984 to €7,136
- Financial charges +€2,150
up €2,150 (+185%), from €1,162 to €3,311
- Depreciation -€1,621
down €1,621 (-28.2%), from €5,747 to €4,126
- Taxes -€1,584
down €1,584 (-74.6%), from €2,123 to €539
- Other operating charges +€677
up €677 (+80.1%), from €845 to €1,523
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 | €75,465 | €62,329 | -€13,136 | -17.4% |
| Fixed assets | 21/28 | €14,089 | €11,425 | -€2,664 | -18.9% |
| Tangible fixed assets | 22/27 | €14,089 | €11,425 | -€2,664 | -18.9% |
| Plant, machinery and equipment | 23 | €1,580 | €4,078 | +€2,498 | +158% |
| Furniture and vehicles | 24 | €12,508 | €7,347 | -€5,162 | -41.3% |
| Current assets | 29/58 | €61,376 | €50,904 | -€10,473 | -17.1% |
| Stocks and contracts in progress | 3 | €1,301 | €1,301 | = | 0.0% |
| Stocks | 30/36 | €1,301 | €1,301 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,311 | €41,970 | -€6,342 | -13.1% |
| Trade receivables | 40 | €42,334 | €38,179 | -€4,155 | -9.8% |
| Other amounts receivable | 41 | €5,977 | €3,791 | -€2,186 | -36.6% |
| Cash at bank and in hand | 54/58 | €3,514 | €0 | -€3,514 | -100% |
| Deferred charges and accrued income | 490/1 | €8,250 | €7,633 | -€617 | -7.5% |
| Total equity and liabilities | 10/49 | €75,465 | €62,329 | -€13,136 | -17.4% |
| Equity | 10/15 | €18,586 | €16,223 | -€2,363 | -12.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,850 | €1,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,850 | €1,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,536 | €8,173 | -€2,363 | -22.4% |
| Amounts payable | 17/49 | €56,879 | €46,105 | -€10,773 | -18.9% |
| Amounts payable within one year | 42/48 | €56,879 | €46,105 | -€10,773 | -18.9% |
| Financial debts | 43 | €4,645 | €5,861 | +€1,215 | +26.2% |
| Credit institutions | 430/8 | €4,645 | €5,861 | +€1,215 | +26.2% |
| Trade debts | 44 | €14,940 | €7,021 | -€7,919 | -53.0% |
| Suppliers | 440/4 | €14,940 | €7,021 | -€7,919 | -53.0% |
| Taxes, remuneration and social security | 45 | €7,243 | €5,659 | -€1,584 | -21.9% |
| Taxes | 450/3 | €2,123 | €539 | -€1,584 | -74.6% |
| Remuneration and social security | 454/9 | €5,121 | €5,121 | = | 0.0% |
| Other amounts payable | 47/48 | €30,050 | €27,565 | -€2,486 | -8.3% |
| Non-recurring operating income | 76A | - | €5,545 | +€5,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,747 | €4,126 | -€1,621 | -28.2% |
| Other operating charges | 640/8 | €845 | €1,523 | +€677 | +80.1% |
| Gross operating margin | 9900 | €13,984 | €7,136 | -€6,848 | -49.0% |
| Operating profit (loss) | 9901 | €7,392 | €1,487 | -€5,905 | -79.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,162 | €3,311 | +€2,150 | +185% |
| Recurring financial charges | 65 | €1,162 | €3,311 | +€2,150 | +185% |
| Profit (loss) for the period before taxes | 9903 | €6,230 | -€1,825 | -€8,054 | |
| Income taxes | 67/77 | €2,123 | €539 | -€1,584 | -74.6% |
| Profit (loss) for the period | 9904 | €4,107 | -€2,363 | -€6,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,107 | -€2,363 | -€6,470 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.