Zenbuilt: 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.
Zenbuilt
Largest movements
- Cash -€403,225
down €403,225 (-78.9%), from €511,123 to €107,898
mainly Receivables within one year (-€400,804) and Short-term financial debts (-€292,497)
- Receivables within one year +€400,804
up €400,804 (+107%), from €375,560 to €776,363
of which Other amounts receivable: +€254,941
- Stocks and contracts -€345,586
down €345,586 (-32.9%), from €1.1m to €704,992
- Tangible fixed assets +€42,267
up €42,267 (+299%), from €14,136 to €56,403
of which Furniture and vehicles: +€36,358
- Short-term financial debts -€292,497
down €292,497 (-44.7%), from €654,488 to €361,991
- Other debts -€184,454
down €184,454 (-16.0%), from €1.2m to €969,705
- Trade debts +€94,454
up €94,454 (+144%), from €65,373 to €159,826
- Profit (loss) carried forward +€39,942
up €39,942, from -€22,726 to €17,216
- Tax, wage and social debts +€32,408
up €32,408 (+146%), from €22,146 to €54,555
of which Taxes: +€26,457
- Gross operating margin +€249,193
up €249,193, from -€27,944 to €221,249
- Financial charges +€93,903
up €93,903 (+173%), from €54,403 to €148,305
- Financial income -€53,783
down €53,783 (-68.1%), from €78,990 to €25,206
- Staff costs +€27,794
new in 2025: €27,794
- Depreciation +€8,863
up €8,863 (+366%), from €2,421 to €11,284
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 | €2,015,104 | €1,715,495 | -€299,610 | -14.9% |
| Fixed assets | 21/28 | €39,386 | €82,403 | +€43,017 | +109% |
| Tangible fixed assets | 22/27 | €14,136 | €56,403 | +€42,267 | +299% |
| Plant, machinery and equipment | 23 | €2,227 | €8,136 | +€5,909 | +265% |
| Furniture and vehicles | 24 | €11,909 | €48,268 | +€36,358 | +305% |
| Financial fixed assets | 28 | €25,250 | €26,000 | +€750 | +3.0% |
| Current assets | 29/58 | €1,975,719 | €1,633,092 | -€342,627 | -17.3% |
| Stocks and contracts in progress | 3 | €1,050,579 | €704,992 | -€345,586 | -32.9% |
| Stocks | 30/36 | €1,050,579 | €704,992 | -€345,586 | -32.9% |
| Amounts receivable within one year | 40/41 | €375,560 | €776,363 | +€400,804 | +107% |
| Trade receivables | 40 | €44,404 | €190,267 | +€145,863 | +328% |
| Other amounts receivable | 41 | €331,156 | €586,097 | +€254,941 | +77.0% |
| Cash at bank and in hand | 54/58 | €511,123 | €107,898 | -€403,225 | -78.9% |
| Deferred charges and accrued income | 490/1 | €38,458 | €43,839 | +€5,381 | +14.0% |
| Total equity and liabilities | 10/49 | €2,015,104 | €1,715,495 | -€299,610 | -14.9% |
| Equity | 10/15 | €23,734 | €63,676 | +€39,942 | +168% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,860 | €27,860 | = | 0.0% |
| Distributable reserves | 133 | €27,860 | €27,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,726 | €17,216 | +€39,942 | |
| Amounts payable | 17/49 | €1,991,371 | €1,651,819 | -€339,551 | -17.1% |
| Amounts payable after more than one year | 17 | - | €28,613 | +€28,613 | |
| Financial debts | 170/4 | - | €28,613 | +€28,613 | |
| Amounts payable within one year | 42/48 | €1,896,166 | €1,553,960 | -€342,206 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | - | €7,883 | +€7,883 | |
| Financial debts | 43 | €654,488 | €361,991 | -€292,497 | -44.7% |
| Credit institutions | 430/8 | €654,488 | €361,991 | -€292,497 | -44.7% |
| Trade debts | 44 | €65,373 | €159,826 | +€94,454 | +144% |
| Suppliers | 440/4 | €65,373 | €159,826 | +€94,454 | +144% |
| Taxes, remuneration and social security | 45 | €22,146 | €54,555 | +€32,408 | +146% |
| Taxes | 450/3 | €22,146 | €48,603 | +€26,457 | +119% |
| Remuneration and social security | 454/9 | - | €5,952 | +€5,952 | |
| Other amounts payable | 47/48 | €1,154,159 | €969,705 | -€184,454 | -16.0% |
| Accrued charges and deferred income | 492/3 | €95,204 | €69,246 | -€25,959 | -27.3% |
| Non-recurring operating income | 76A | €1,900 | €0 | -€1,900 | -100% |
| Remuneration, social security and pensions | 62 | - | €27,794 | +€27,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,421 | €11,284 | +€8,863 | +366% |
| Other operating charges | 640/8 | €15,137 | €12,058 | -€3,079 | -20.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€27,944 | €221,249 | +€249,193 | |
| Operating profit (loss) | 9901 | -€45,503 | €170,113 | +€215,615 | |
| Financial income | 75/76B | €78,990 | €25,206 | -€53,783 | -68.1% |
| Recurring financial income | 75 | €78,990 | €25,206 | -€53,783 | -68.1% |
| Financial charges | 65/66B | €54,403 | €148,305 | +€93,903 | +173% |
| Recurring financial charges | 65 | €54,403 | €148,305 | +€93,903 | +173% |
| Profit (loss) for the period before taxes | 9903 | -€20,916 | €47,014 | +€67,930 | |
| Income taxes | 67/77 | €171 | €7,072 | +€6,901 | +4,036% |
| Profit (loss) for the period | 9904 | -€21,087 | €39,942 | +€61,029 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,087 | €39,942 | +€61,029 |
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 30 October 2026 via checked.be.