ZENCON: 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.
ZENCON
Largest movements
- Tangible fixed assets +€29,845
up €29,845 (+295.1%), from €10,113 to €39,958
of which Furniture and vehicles: +€29,744
- Cash -€6,266
down €6,266 (-3.1%), from €203,035 to €196,769
mainly Investment in fixed assets (net) (-€49,639) and Contributions, distributions and other (-€5,166)
- Reserves +€23,615
up €23,615 (+11.8%), from €199,796 to €223,412
- Tax, wage and social debts -€4,972
down €4,972 (-40.5%), from €12,267 to €7,295
- Other debts +€3,609
up €3,609 (+72.7%), from €4,963 to €8,572
- Gross operating margin -€21,941
down €21,941 (-26.3%), from €83,276 to €61,335
- Taxes -€9,629
down €9,629 (-46.6%), from €20,653 to €11,024
- Depreciation +€9,424
up €9,424 (+90.9%), from €10,369 to €19,793
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 | €239,183 | €262,038 | +€22,855 | +9.6% |
| Fixed assets | 21/28 | €10,113 | €39,958 | +€29,845 | +295.1% |
| Tangible fixed assets | 22/27 | €10,113 | €39,958 | +€29,845 | +295.1% |
| Plant, machinery and equipment | 23 | €1,087 | €427 | -€660 | -60.7% |
| Furniture and vehicles | 24 | €9,026 | €38,770 | +€29,744 | +329.5% |
| Other tangible fixed assets | 26 | - | €761 | +€761 | |
| Current assets | 29/58 | €229,070 | €222,080 | -€6,990 | -3.1% |
| Stocks and contracts in progress | 3 | €1,270 | €1,270 | = | 0.0% |
| Stocks | 30/36 | €1,270 | €1,270 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,765 | €22,181 | -€1,584 | -6.7% |
| Trade receivables | 40 | €14,091 | €12,676 | -€1,414 | -10.0% |
| Other amounts receivable | 41 | €9,674 | €9,505 | -€169 | -1.8% |
| Cash at bank and in hand | 54/58 | €203,035 | €196,769 | -€6,266 | -3.1% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,860 | +€860 | +86.0% |
| Total equity and liabilities | 10/49 | €239,183 | €262,038 | +€22,855 | +9.6% |
| Equity | 10/15 | €218,396 | €242,012 | +€23,615 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €199,796 | €223,412 | +€23,615 | +11.8% |
| Distributable reserves | 133 | €199,796 | €223,412 | +€23,615 | +11.8% |
| Amounts payable | 17/49 | €20,787 | €20,027 | -€760 | -3.7% |
| Amounts payable within one year | 42/48 | €19,877 | €18,319 | -€1,559 | -7.8% |
| Trade debts | 44 | €2,648 | €2,452 | -€196 | -7.4% |
| Suppliers | 440/4 | €2,648 | €2,452 | -€196 | -7.4% |
| Taxes, remuneration and social security | 45 | €12,267 | €7,295 | -€4,972 | -40.5% |
| Taxes | 450/3 | €12,267 | €7,295 | -€4,972 | -40.5% |
| Other amounts payable | 47/48 | €4,963 | €8,572 | +€3,609 | +72.7% |
| Accrued charges and deferred income | 492/3 | €910 | €1,708 | +€798 | +87.8% |
| Non-recurring operating income | 76A | €200 | €7,492 | +€7,292 | +3646.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,369 | €19,793 | +€9,424 | +90.9% |
| Other operating charges | 640/8 | €1,799 | €1,526 | -€272 | -15.1% |
| Gross operating margin | 9900 | €83,276 | €61,335 | -€21,941 | -26.3% |
| Operating profit (loss) | 9901 | €71,108 | €40,015 | -€31,093 | -43.7% |
| Financial income | 75/76B | €29 | - | -€29 | |
| Recurring financial income | 75 | €29 | - | -€29 | |
| Financial charges | 65/66B | €120 | €210 | +€90 | +74.8% |
| Recurring financial charges | 65 | €120 | €210 | +€90 | +74.8% |
| Profit (loss) for the period before taxes | 9903 | €71,017 | €39,805 | -€31,212 | -43.9% |
| Income taxes | 67/77 | €20,653 | €11,024 | -€9,629 | -46.6% |
| Profit (loss) for the period | 9904 | €50,364 | €28,781 | -€21,583 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,364 | €28,781 | -€21,583 | -42.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.