ZENACARS: 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.
ZENACARS
Largest movements
- Receivables within one year +€17,368
up €17,368 (+41.5%), from €41,831 to €59,200
of which Trade receivables: +€48,062
- Tangible fixed assets +€16,688
up €16,688 (+147.0%), from €11,356 to €28,044
of which Land and buildings: +€16,898
- Stocks and contracts -€13,285
no longer reported in 2025 (was €13,285)
- Cash -€10,977
down €10,977 (-10.6%), from €103,634 to €92,657
mainly Investment in fixed assets (net) (-€20,359) and Receivables within one year (-€17,368)
- Other debts +€31,840
up €31,840 (+318.4%), from €10,000 to €41,840
- Tax, wage and social debts -€17,363
down €17,363 (-38.4%), from €45,159 to €27,796
of which Taxes: -€14,674
- Trade debts -€6,683
down €6,683 (-52.4%), from €12,750 to €6,067
- Gross operating margin -€18,555
down €18,555 (-16.4%), from €113,291 to €94,736
- Staff costs +€10,709
up €10,709 (+14.1%), from €75,902 to €86,611
- Taxes -€6,101
down €6,101 (-92.8%), from €6,572 to €471
- Other operating charges +€1,851
up €1,851 (+250.3%), from €739 to €2,590
- Depreciation +€1,334
up €1,334 (+57.1%), from €2,337 to €3,671
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 | €171,063 | €180,113 | +€9,050 | +5.3% |
| Fixed assets | 21/28 | €11,356 | €28,044 | +€16,688 | +147.0% |
| Tangible fixed assets | 22/27 | €11,356 | €28,044 | +€16,688 | +147.0% |
| Land and buildings | 22 | - | €16,898 | +€16,898 | |
| Plant, machinery and equipment | 23 | €11,356 | €10,294 | -€1,063 | -9.4% |
| Furniture and vehicles | 24 | - | €853 | +€853 | |
| Current assets | 29/58 | €159,707 | €152,068 | -€7,638 | -4.8% |
| Stocks and contracts in progress | 3 | €13,285 | - | -€13,285 | |
| Stocks | 30/36 | €13,285 | - | -€13,285 | |
| Amounts receivable within one year | 40/41 | €41,831 | €59,200 | +€17,368 | +41.5% |
| Trade receivables | 40 | €11,137 | €59,200 | +€48,062 | +431.5% |
| Other amounts receivable | 41 | €30,694 | - | -€30,694 | |
| Cash at bank and in hand | 54/58 | €103,634 | €92,657 | -€10,977 | -10.6% |
| Deferred charges and accrued income | 490/1 | €956 | €211 | -€745 | -77.9% |
| Total equity and liabilities | 10/49 | €171,063 | €180,113 | +€9,050 | +5.3% |
| Equity | 10/15 | €102,153 | €103,410 | +€1,256 | +1.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €62,153 | €63,410 | +€1,256 | +2.0% |
| Distributable reserves | 133 | €62,153 | €63,410 | +€1,256 | +2.0% |
| Amounts payable | 17/49 | €68,909 | €76,703 | +€7,794 | +11.3% |
| Amounts payable within one year | 42/48 | €67,909 | €75,703 | +€7,794 | +11.5% |
| Trade debts | 44 | €12,750 | €6,067 | -€6,683 | -52.4% |
| Suppliers | 440/4 | €12,750 | €6,067 | -€6,683 | -52.4% |
| Taxes, remuneration and social security | 45 | €45,159 | €27,796 | -€17,363 | -38.4% |
| Taxes | 450/3 | €29,841 | €15,166 | -€14,674 | -49.2% |
| Remuneration and social security | 454/9 | €15,318 | €12,630 | -€2,688 | -17.6% |
| Other amounts payable | 47/48 | €10,000 | €41,840 | +€31,840 | +318.4% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €75,902 | €86,611 | +€10,709 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,337 | €3,671 | +€1,334 | +57.1% |
| Other operating charges | 640/8 | €739 | €2,590 | +€1,851 | +250.3% |
| Gross operating margin | 9900 | €113,291 | €94,736 | -€18,555 | -16.4% |
| Operating profit (loss) | 9901 | €34,313 | €1,864 | -€32,449 | -94.6% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €63 | €137 | +€74 | +116.6% |
| Recurring financial charges | 65 | €63 | €137 | +€74 | +116.6% |
| Profit (loss) for the period before taxes | 9903 | €34,251 | €1,727 | -€32,524 | -95.0% |
| Income taxes | 67/77 | €6,572 | €471 | -€6,101 | -92.8% |
| Profit (loss) for the period | 9904 | €27,679 | €1,256 | -€26,423 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,679 | €1,256 | -€26,423 | -95.5% |
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 29 September 2026 via checked.be.