ZENCO: 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.
ZENCO
Largest movements
- Receivables within one year -€39,465
down €39,465 (-57.2%), from €68,955 to €29,490
of which Other amounts receivable: -€42,708
- Cash +€23,897
up €23,897 (+323.0%), from €7,399 to €31,297
mainly Receivables within one year (+€39,465) and Deferred charges and accrued income (+€3,452)
- Deferred charges and accrued income -€3,452
down €3,452 (-57.8%), from €5,971 to €2,519
- Profit (loss) carried forward -€16,580
down €16,580, from €8,314 to -€8,265
- Tax, wage and social debts -€1,824
down €1,824 (-83.6%), from €2,182 to €358
of which Taxes: -€991
- Taxes +€4,871
up €4,871, from €0 to €4,871
- Gross operating margin -€4,407
down €4,407 (-111.1%), from -€3,967 to -€8,374
- Financial income -€3,120
down €3,120 (-78.6%), from €3,972 to €852
- Other operating charges +€1,334
up €1,334 (+76.2%), from €1,751 to €3,085
- Financial charges -€493
down €493 (-49.8%), from €990 to €497
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 | €93,309 | €73,685 | -€19,624 | -21.0% |
| Fixed assets | 21/28 | €10,983 | €10,380 | -€603 | -5.5% |
| Tangible fixed assets | 22/27 | €10,901 | €10,297 | -€603 | -5.5% |
| Plant, machinery and equipment | 23 | €10,901 | €10,297 | -€603 | -5.5% |
| Financial fixed assets | 28 | €82 | €82 | = | 0.0% |
| Current assets | 29/58 | €82,326 | €63,306 | -€19,020 | -23.1% |
| Amounts receivable within one year | 40/41 | €68,955 | €29,490 | -€39,465 | -57.2% |
| Trade receivables | 40 | €18,536 | €21,779 | +€3,243 | +17.5% |
| Other amounts receivable | 41 | €50,419 | €7,711 | -€42,708 | -84.7% |
| Current investments | 50/53 | €1 | - | -€1 | |
| Cash at bank and in hand | 54/58 | €7,399 | €31,297 | +€23,897 | +323.0% |
| Deferred charges and accrued income | 490/1 | €5,971 | €2,519 | -€3,452 | -57.8% |
| Total equity and liabilities | 10/49 | €93,309 | €73,685 | -€19,624 | -21.0% |
| Equity | 10/15 | €87,881 | €71,302 | -€16,580 | -18.9% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €17,067 | €17,067 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €10,817 | €10,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,314 | -€8,265 | -€16,580 | |
| Amounts payable | 17/49 | €5,428 | €2,384 | -€3,044 | -56.1% |
| Amounts payable within one year | 42/48 | €4,813 | €2,384 | -€2,429 | -50.5% |
| Trade debts | 44 | €2,630 | €2,025 | -€605 | -23.0% |
| Suppliers | 440/4 | €2,630 | €2,025 | -€605 | -23.0% |
| Taxes, remuneration and social security | 45 | €2,182 | €358 | -€1,824 | -83.6% |
| Taxes | 450/3 | €1,349 | €358 | -€991 | -73.4% |
| Remuneration and social security | 454/9 | €833 | €0 | -€833 | -100.0% |
| Accrued charges and deferred income | 492/3 | €615 | €0 | -€615 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €603 | €603 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,751 | €3,085 | +€1,334 | +76.2% |
| Gross operating margin | 9900 | -€3,967 | -€8,374 | -€4,407 | -111.1% |
| Operating profit (loss) | 9901 | -€6,321 | -€12,063 | -€5,742 | -90.8% |
| Financial income | 75/76B | €3,972 | €852 | -€3,120 | -78.6% |
| Recurring financial income | 75 | €3,972 | €852 | -€3,120 | -78.6% |
| Financial charges | 65/66B | €990 | €497 | -€493 | -49.8% |
| Recurring financial charges | 65 | €990 | €497 | -€493 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,339 | -€11,709 | -€8,369 | -250.6% |
| Income taxes | 67/77 | €0 | €4,871 | +€4,871 | |
| Profit (loss) for the period | 9904 | -€3,339 | -€16,580 | -€13,240 | -396.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,339 | -€16,580 | -€13,240 | -396.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.