ZENDACO: 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.
ZENDACO
Largest movements
- Tangible fixed assets +€80,216
up €80,216 (+18.9%), from €424,711 to €504,927
of which Land and buildings: +€137,289
- Deferred charges and accrued income -€79,226
no longer reported in 2025 (was €79,226)
- Other debts +€254,964
new in 2025: €254,964
- Short-term financial debts -€238,256
down €238,256 (-100%), from €238,256 to €0
of which Other loans: -€238,224
- Debts after one year -€33,145
down €33,145 (-12.4%), from €266,938 to €233,793
- Current portion of long-term debt +€17,280
new in 2025: €17,280
- Financial charges -€650
no longer reported in 2025 (was €650)
- Gross operating margin -€356
down €356 (-56.6%), from €629 to €273
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 | €505,264 | €506,379 | +€1,115 | +0.2% |
| Formation expenses | 20 | - | €1,327 | +€1,327 | |
| Fixed assets | 21/28 | €424,711 | €504,927 | +€80,216 | +18.9% |
| Tangible fixed assets | 22/27 | €424,711 | €504,927 | +€80,216 | +18.9% |
| Land and buildings | 22 | €281,211 | €418,500 | +€137,289 | +48.8% |
| Plant, machinery and equipment | 23 | €143,500 | - | -€143,500 | |
| Assets under construction and advance payments | 27 | - | €86,427 | +€86,427 | |
| Current assets | 29/58 | €80,553 | €125 | -€80,428 | -99.8% |
| Amounts receivable within one year | 40/41 | €1,327 | €123 | -€1,204 | -90.7% |
| Other amounts receivable | 41 | €1,327 | €123 | -€1,204 | -90.7% |
| Cash at bank and in hand | 54/58 | - | €2 | +€2 | |
| Deferred charges and accrued income | 490/1 | €79,226 | - | -€79,226 | |
| Total equity and liabilities | 10/49 | €505,264 | €506,379 | +€1,115 | +0.2% |
| Equity | 10/15 | €70 | €343 | +€273 | +390% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | €2,500 | - | -€2,500 | |
| Issued capital | 100 | €2,500 | - | -€2,500 | |
| Profit (loss) carried forward | 14 | -€2,430 | -€2,157 | +€273 | +11.2% |
| Amounts payable | 17/49 | €505,194 | €506,036 | +€842 | +0.2% |
| Amounts payable after more than one year | 17 | €266,938 | €233,793 | -€33,145 | -12.4% |
| Financial debts | 170/4 | €266,938 | €233,793 | -€33,145 | -12.4% |
| Amounts payable within one year | 42/48 | €238,256 | €272,243 | +€33,987 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | - | €17,280 | +€17,280 | |
| Financial debts | 43 | €238,256 | €0 | -€238,256 | -100% |
| Credit institutions | 430/8 | €32 | €0 | -€32 | -100% |
| Other loans | 439 | €238,224 | - | -€238,224 | |
| Other amounts payable | 47/48 | - | €254,964 | +€254,964 | |
| Gross operating margin | 9900 | €629 | €273 | -€356 | -56.6% |
| Operating profit (loss) | 9901 | €629 | €273 | -€356 | -56.6% |
| Financial charges | 65/66B | €650 | - | -€650 | |
| Recurring financial charges | 65 | €650 | - | -€650 | |
| Profit (loss) for the period before taxes | 9903 | -€21 | €273 | +€294 | |
| Profit (loss) for the period | 9904 | -€21 | €273 | +€294 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21 | €273 | +€294 |
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 18 October 2026 via checked.be.