ZEN-TRADING: what changed
ZEN-TRADING
Largest movements
- Receivables within one year -€903
down €903 (-8.3%), from €10,855 to €9,952
of which Trade receivables: -€1,462
- Cash +€749
up €749 (+35.6%), from €2,104 to €2,853
mainly Other debts (+€1,990) and Receivables within one year (+€903)
- Tangible fixed assets -€276
down €276 (-14.3%), from €1,920 to €1,645
of which Land and buildings: -€723
- Profit (loss) carried forward -€3,245
down €3,245 (-8.3%), from -€39,056 to -€42,301
- Other debts +€1,990
up €1,990 (+41.3%), from €4,820 to €6,810
- Trade debts +€825
up €825 (+175%), from €470 to €1,295
- Gross operating margin +€2,906
up €2,906 (+63.7%), from -€4,562 to -€1,656
- Depreciation +€100
up €100 (+13.8%), from €723 to €823
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,879 | €14,450 | -€430 | -2.9% |
| Fixed assets | 21/28 | €1,920 | €1,645 | -€276 | -14.3% |
| Tangible fixed assets | 22/27 | €1,920 | €1,645 | -€276 | -14.3% |
| Land and buildings | 22 | €1,920 | €1,198 | -€723 | -37.6% |
| Furniture and vehicles | 24 | - | €447 | +€447 | |
| Current assets | 29/58 | €12,959 | €12,805 | -€154 | -1.2% |
| Amounts receivable within one year | 40/41 | €10,855 | €9,952 | -€903 | -8.3% |
| Trade receivables | 40 | €10,594 | €9,132 | -€1,462 | -13.8% |
| Other amounts receivable | 41 | €262 | €820 | +€558 | +213% |
| Cash at bank and in hand | 54/58 | €2,104 | €2,853 | +€749 | +35.6% |
| Total equity and liabilities | 10/49 | €14,879 | €14,450 | -€430 | -2.9% |
| Equity | 10/15 | €9,589 | €6,345 | -€3,245 | -33.8% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €45 | €45 | = | 0.0% |
| Tax-exempt reserves | 132 | €45 | €45 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,056 | -€42,301 | -€3,245 | -8.3% |
| Amounts payable | 17/49 | €5,290 | €8,105 | +€2,815 | +53.2% |
| Amounts payable within one year | 42/48 | €5,290 | €8,105 | +€2,815 | +53.2% |
| Trade debts | 44 | €470 | €1,295 | +€825 | +175% |
| Suppliers | 440/4 | €470 | €1,295 | +€825 | +175% |
| Other amounts payable | 47/48 | €4,820 | €6,810 | +€1,990 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €723 | €823 | +€100 | +13.8% |
| Other operating charges | 640/8 | €660 | €676 | +€16 | +2.4% |
| Gross operating margin | 9900 | -€4,562 | -€1,656 | +€2,906 | +63.7% |
| Operating profit (loss) | 9901 | -€5,945 | -€3,155 | +€2,791 | +46.9% |
| Financial charges | 65/66B | €100 | €90 | -€10 | -9.6% |
| Recurring financial charges | 65 | €100 | €90 | -€10 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,045 | -€3,245 | +€2,800 | +46.3% |
| Profit (loss) for the period | 9904 | -€6,045 | -€3,245 | +€2,800 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,045 | -€3,245 | +€2,800 | +46.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.