ZEN MANUFACTURING: 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 MANUFACTURING
Largest movements
- Receivables within one year -€60,875
down €60,875 (-84.7%), from €71,875 to €11,000
- Tangible fixed assets +€21,184
up €21,184 (+5.6%), from €378,896 to €400,080
- Debts after one year -€44,583
down €44,583 (-22.4%), from €199,000 to €154,417
- Other debts +€7,727
up €7,727 (+28.1%), from €27,453 to €35,180
- Reserves -€5,450
down €5,450 (-5.3%), from €103,550 to €98,100
- Current portion of long-term debt +€5,000
up €5,000 (+20.0%), from €25,000 to €30,000
- Depreciation +€1,494
up €1,494 (+16.2%), from €9,197 to €10,691
- Financial charges -€512
down €512 (-9.9%), from €5,184 to €4,672
- Gross operating margin -€305
down €305 (-2.1%), from €14,486 to €14,181
- Other operating charges -€213
down €213 (-8.3%), from €2,574 to €2,361
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 | €453,182 | €417,783 | -€35,399 | -7.8% |
| Fixed assets | 21/28 | €379,886 | €401,070 | +€21,184 | +5.6% |
| Tangible fixed assets | 22/27 | €378,896 | €400,080 | +€21,184 | +5.6% |
| Land and buildings | 22 | €378,896 | €400,080 | +€21,184 | +5.6% |
| Financial fixed assets | 28 | €990 | €990 | = | 0.0% |
| Current assets | 29/58 | €73,295 | €16,712 | -€56,583 | -77.2% |
| Amounts receivable within one year | 40/41 | €71,875 | €11,000 | -€60,875 | -84.7% |
| Other amounts receivable | 41 | €71,875 | €11,000 | -€60,875 | -84.7% |
| Cash at bank and in hand | 54/58 | €1,420 | €5,712 | +€4,292 | +302% |
| Total equity and liabilities | 10/49 | €453,182 | €417,783 | -€35,399 | -7.8% |
| Equity | 10/15 | €166,311 | €164,632 | -€1,679 | -1.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €103,550 | €98,100 | -€5,450 | -5.3% |
| Tax-exempt reserves | 132 | €103,550 | €98,100 | -€5,450 | -5.3% |
| Profit (loss) carried forward | 14 | €1,261 | €5,032 | +€3,771 | +299% |
| Provisions and deferred taxes | 16 | €35,418 | €33,554 | -€1,864 | -5.3% |
| Deferred taxes | 168 | €35,418 | €33,554 | -€1,864 | -5.3% |
| Amounts payable | 17/49 | €251,453 | €219,597 | -€31,856 | -12.7% |
| Amounts payable after more than one year | 17 | €199,000 | €154,417 | -€44,583 | -22.4% |
| Financial debts | 170/4 | €199,000 | €154,417 | -€44,583 | -22.4% |
| Amounts payable within one year | 42/48 | €52,453 | €65,180 | +€12,727 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €30,000 | +€5,000 | +20.0% |
| Other amounts payable | 47/48 | €27,453 | €35,180 | +€7,727 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,197 | €10,691 | +€1,494 | +16.2% |
| Other operating charges | 640/8 | €2,574 | €2,361 | -€213 | -8.3% |
| Gross operating margin | 9900 | €14,486 | €14,181 | -€305 | -2.1% |
| Operating profit (loss) | 9901 | €2,714 | €1,129 | -€1,586 | -58.4% |
| Financial charges | 65/66B | €5,184 | €4,672 | -€512 | -9.9% |
| Recurring financial charges | 65 | €5,184 | €4,672 | -€512 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,470 | -€3,543 | -€1,073 | -43.5% |
| Transfer from deferred taxes | 780 | €1,864 | €1,864 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€605 | -€1,679 | -€1,073 | -177% |
| Transfer from tax-exempt reserves | 789 | €5,450 | €5,450 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,845 | €3,771 | -€1,073 | -22.2% |
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 20 October 2026 via checked.be.