ZEN TRANS: 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 TRANS
Largest movements
- Cash +€53,338
up €53,338 (+294.1%), from €18,137 to €71,475
mainly Net result for the year (+€42,731) and Deferred charges and accrued income (+€33,341)
- Deferred charges and accrued income -€33,341
no longer reported in 2025 (was €33,341)
- Receivables within one year -€3,593
down €3,593 (-3.6%), from €100,072 to €96,480
of which Other amounts receivable: -€15,610
- Intangible fixed assets -€2,400
no longer reported in 2025 (was €2,400)
- Trade debts -€58,487
no longer reported in 2025 (was €58,487)
- Reserves +€40,000
new in 2025: €40,000
- Tax, wage and social debts +€23,314
up €23,314 (+51.3%), from €45,429 to €68,743
of which Taxes: +€41,197
- Other debts +€7,162
up €7,162 (+299.5%), from €2,391 to €9,552
- Profit (loss) carried forward +€2,731
up €2,731 (+3.1%), from €87,839 to €90,570
- Staff costs -€15,440
down €15,440 (-5.1%), from €300,564 to €285,125
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 | €218,065 | €232,734 | +€14,668 | +6.7% |
| Fixed assets | 21/28 | €66,515 | €64,779 | -€1,736 | -2.6% |
| Intangible fixed assets | 21 | €2,400 | - | -€2,400 | |
| Tangible fixed assets | 22/27 | €39,890 | €40,554 | +€664 | +1.7% |
| Furniture and vehicles | 24 | €27,271 | €18,234 | -€9,037 | -33.1% |
| Other tangible fixed assets | 26 | €12,619 | €22,320 | +€9,701 | +76.9% |
| Financial fixed assets | 28 | €24,225 | €24,225 | = | 0.0% |
| Current assets | 29/58 | €151,550 | €167,955 | +€16,405 | +10.8% |
| Amounts receivable within one year | 40/41 | €100,072 | €96,480 | -€3,593 | -3.6% |
| Trade receivables | 40 | €80,107 | €92,124 | +€12,017 | +15.0% |
| Other amounts receivable | 41 | €19,965 | €4,355 | -€15,610 | -78.2% |
| Cash at bank and in hand | 54/58 | €18,137 | €71,475 | +€53,338 | +294.1% |
| Deferred charges and accrued income | 490/1 | €33,341 | - | -€33,341 | |
| Total equity and liabilities | 10/49 | €218,065 | €232,734 | +€14,668 | +6.7% |
| Equity | 10/15 | €108,299 | €151,030 | +€42,731 | +39.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | - | €40,000 | +€40,000 | |
| Distributable reserves | 133 | - | €40,000 | +€40,000 | |
| Profit (loss) carried forward | 14 | €87,839 | €90,570 | +€2,731 | +3.1% |
| Amounts payable | 17/49 | €109,767 | €81,704 | -€28,063 | -25.6% |
| Amounts payable within one year | 42/48 | €109,767 | €81,704 | -€28,063 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €3,459 | €3,409 | -€51 | -1.5% |
| Trade debts | 44 | €58,487 | - | -€58,487 | |
| Suppliers | 440/4 | €58,487 | - | -€58,487 | |
| Taxes, remuneration and social security | 45 | €45,429 | €68,743 | +€23,314 | +51.3% |
| Taxes | 450/3 | €20,773 | €61,970 | +€41,197 | +198.3% |
| Remuneration and social security | 454/9 | €24,656 | €6,773 | -€17,883 | -72.5% |
| Other amounts payable | 47/48 | €2,391 | €9,552 | +€7,162 | +299.5% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €300,564 | €285,125 | -€15,440 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,699 | €22,359 | +€1,660 | +8.0% |
| Other operating charges | 640/8 | €90,748 | €91,495 | +€746 | +0.8% |
| Non-recurring operating charges | 66A | €18,000 | - | -€18,000 | |
| Gross operating margin | 9900 | €453,202 | €450,597 | -€2,605 | -0.6% |
| Operating profit (loss) | 9901 | €23,191 | €51,619 | +€28,428 | +122.6% |
| Financial income | 75/76B | €0 | €1,866 | +€1,866 | +933070.0% |
| Recurring financial income | 75 | €0 | €1,866 | +€1,866 | +933070.0% |
| Financial charges | 65/66B | €2,805 | €2,376 | -€429 | -15.3% |
| Recurring financial charges | 65 | €2,805 | €2,376 | -€429 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €20,386 | €51,110 | +€30,723 | +150.7% |
| Income taxes | 67/77 | €10,084 | €8,379 | -€1,706 | -16.9% |
| Profit (loss) for the period | 9904 | €10,302 | €42,731 | +€32,429 | +314.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,302 | €42,731 | +€32,429 | +314.8% |
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 7 October 2026 via checked.be.