ZenCat: 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.
ZenCat
Largest movements
- Current investments +€2.2m
new in 2026: €2.2m
- Cash -€48,828
down €48,828 (-70.3%), from €69,462 to €20,634
mainly Current investments (-€2.2m) and Contributions, distributions and other (-€900,000)
- Reserves +€1.7m
up €1.7m (+346%), from €492,209 to €2.2m
- Other debts +€450,000
up €450,000, from €0 to €450,000
- Financial income +€2.2m
up €2.2m (+550%), from €400,000 to €2.6m
- Gross operating margin -€53,140
down €53,140 (-85.9%), from €61,875 to €8,735
- Taxes -€14,547
down €14,547 (-87.3%), from €16,662 to €2,115
- Financial charges +€1,651
up €1,651 (+4,228%), from €39 to €1,690
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €609,495 | €2,749,480 | +€2.1m | +351% |
| Fixed assets | 21/28 | €500,000 | €500,000 | = | 0.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €109,495 | €2,249,480 | +€2.1m | +1,954% |
| Amounts receivable within one year | 40/41 | €40,033 | €29,360 | -€10,673 | -26.7% |
| Trade receivables | 40 | - | €29,360 | +€29,360 | |
| Other amounts receivable | 41 | €40,033 | €0 | -€40,033 | -100% |
| Current investments | 50/53 | - | €2,199,485 | +€2.2m | |
| Cash at bank and in hand | 54/58 | €69,462 | €20,634 | -€48,828 | -70.3% |
| Total equity and liabilities | 10/49 | €609,495 | €2,749,480 | +€2.1m | +351% |
| Equity | 10/15 | €592,209 | €2,296,445 | +€1.7m | +288% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €492,209 | €2,196,445 | +€1.7m | +346% |
| Distributable reserves | 133 | €492,209 | €2,196,445 | +€1.7m | +346% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,286 | €453,034 | +€435,748 | +2,521% |
| Amounts payable within one year | 42/48 | €17,286 | €453,034 | +€435,748 | +2,521% |
| Trade debts | 44 | €286 | €444 | +€158 | +55.1% |
| Suppliers | 440/4 | €286 | €444 | +€158 | +55.1% |
| Taxes, remuneration and social security | 45 | €17,000 | €2,590 | -€14,410 | -84.8% |
| Taxes | 450/3 | €17,000 | €2,590 | -€14,410 | -84.8% |
| Other amounts payable | 47/48 | €0 | €450,000 | +€450,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Gross operating margin | 9900 | €61,875 | €8,735 | -€53,140 | -85.9% |
| Operating profit (loss) | 9901 | €61,197 | €8,041 | -€53,156 | -86.9% |
| Financial income | 75/76B | €400,000 | €2,600,000 | +€2.2m | +550% |
| Recurring financial income | 75 | €400,000 | €2,600,000 | +€2.2m | +550% |
| Financial charges | 65/66B | €39 | €1,690 | +€1,651 | +4,228% |
| Recurring financial charges | 65 | €39 | €1,690 | +€1,651 | +4,228% |
| Profit (loss) for the period before taxes | 9903 | €461,158 | €2,606,351 | +€2.1m | +465% |
| Income taxes | 67/77 | €16,662 | €2,115 | -€14,547 | -87.3% |
| Profit (loss) for the period | 9904 | €444,496 | €2,604,236 | +€2.2m | +486% |
| Profit (loss) for the period to be appropriated | 9905 | €444,496 | €2,604,236 | +€2.2m | +486% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.