Zen Creation: what changed
Two fiscal 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 Creation
Largest movements
- Receivables within one year -€20,854
down €20,854 (-53.1%), from €39,277 to €18,423
of which Trade receivables: -€15,710
- Stocks and contracts -€14,923
down €14,923 (-23.4%), from €63,796 to €48,873
- Intangible fixed assets -€7,000
down €7,000 (-28.9%), from €24,241 to €17,241
- Tangible fixed assets -€3,765
down €3,765 (-8.8%), from €42,929 to €39,164
- Trade debts -€43,645
down €43,645 (-81.3%), from €53,657 to €10,012
- Debts after one year -€8,954
down €8,954 (-14.6%), from €61,217 to €52,263
- Tax, wage and social debts +€7,160
up €7,160 (+126.0%), from €5,684 to €12,843
of which Taxes: +€7,160
- Profit (loss) carried forward -€6,528
down €6,528 (-17.3%), from €37,792 to €31,264
- Short-term financial debts +€3,473
up €3,473 (+104.7%), from €3,318 to €6,791
- Gross operating margin -€7,790
down €7,790 (-34.7%), from €22,440 to €14,650
- Taxes -€3,733
down €3,733 (-100.0%), from €3,733 to €0
- Financial income -€1,761
down €1,761 (-60.7%), from €2,898 to €1,138
- Financial charges +€1,543
up €1,543 (+28.9%), from €5,331 to €6,874
- Staff costs -€328
down €328, from €313 to -€15
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.
Cash bridge derived
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 | €174,206 | €126,127 | -€48,079 | -27.6% |
| Fixed assets | 21/28 | €67,170 | €56,405 | -€10,765 | -16.0% |
| Intangible fixed assets | 21 | €24,241 | €17,241 | -€7,000 | -28.9% |
| Tangible fixed assets | 22/27 | €42,929 | €39,164 | -€3,765 | -8.8% |
| Plant, machinery and equipment | 23 | €42,929 | €39,164 | -€3,765 | -8.8% |
| Current assets | 29/58 | €107,036 | €69,722 | -€37,314 | -34.9% |
| Stocks and contracts in progress | 3 | €63,796 | €48,873 | -€14,923 | -23.4% |
| Stocks | 30/36 | €63,796 | €48,873 | -€14,923 | -23.4% |
| Amounts receivable within one year | 40/41 | €39,277 | €18,423 | -€20,854 | -53.1% |
| Trade receivables | 40 | €15,825 | €115 | -€15,710 | -99.3% |
| Other amounts receivable | 41 | €23,452 | €18,308 | -€5,144 | -21.9% |
| Cash at bank and in hand | 54/58 | €949 | €204 | -€746 | -78.6% |
| Deferred charges and accrued income | 490/1 | €3,014 | €2,222 | -€792 | -26.3% |
| Total equity and liabilities | 10/49 | €174,206 | €126,127 | -€48,079 | -27.6% |
| Equity | 10/15 | €41,792 | €35,264 | -€6,528 | -15.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,792 | €31,264 | -€6,528 | -17.3% |
| Amounts payable | 17/49 | €132,414 | €90,863 | -€41,551 | -31.4% |
| Amounts payable after more than one year | 17 | €61,217 | €52,263 | -€8,954 | -14.6% |
| Financial debts | 170/4 | €61,217 | €52,263 | -€8,954 | -14.6% |
| Amounts payable within one year | 42/48 | €71,197 | €38,601 | -€32,597 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €8,493 | €8,954 | +€461 | +5.4% |
| Financial debts | 43 | €3,318 | €6,791 | +€3,473 | +104.7% |
| Credit institutions | 430/8 | €3,318 | €6,791 | +€3,473 | +104.7% |
| Trade debts | 44 | €53,657 | €10,012 | -€43,645 | -81.3% |
| Suppliers | 440/4 | €53,657 | €10,012 | -€43,645 | -81.3% |
| Taxes, remuneration and social security | 45 | €5,684 | €12,843 | +€7,160 | +126.0% |
| Taxes | 450/3 | €5,684 | €12,843 | +€7,160 | +126.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €45 | - | -€45 | |
| Remuneration, social security and pensions | 62 | €313 | -€15 | -€328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,814 | €12,992 | +€178 | +1.4% |
| Other operating charges | 640/8 | €2,520 | €2,252 | -€267 | -10.6% |
| Gross operating margin | 9900 | €22,440 | €14,650 | -€7,790 | -34.7% |
| Operating profit (loss) | 9901 | €6,793 | -€579 | -€7,372 | |
| Financial income | 75/76B | €2,898 | €1,138 | -€1,761 | -60.7% |
| Recurring financial income | 75 | €2,898 | €1,138 | -€1,761 | -60.7% |
| Financial charges | 65/66B | €5,331 | €6,874 | +€1,543 | +28.9% |
| Recurring financial charges | 65 | €5,331 | €6,874 | +€1,543 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €4,360 | -€6,316 | -€10,676 | |
| Income taxes | 67/77 | €3,733 | €0 | -€3,733 | -100.0% |
| Profit (loss) for the period | 9904 | €627 | -€6,316 | -€6,943 | |
| Profit (loss) for the period to be appropriated | 9905 | €627 | -€6,316 | -€6,943 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.