ZENDEN: 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.
ZENDEN
Largest movements
- Receivables within one year -€191,340
down €191,340 (-80.4%), from €238,054 to €46,714
of which Other amounts receivable: -€170,033
- Current investments +€43,694
up €43,694 (+20.3%), from €215,000 to €258,694
- Cash +€27,726
up €27,726 (+84.3%), from €32,894 to €60,619
mainly Net result for the year (+€406,558) and Receivables within one year (+€191,340)
- Deferred charges and accrued income +€20,874
up €20,874 (+883%), from €2,365 to €23,239
- Tangible fixed assets -€16,318
down €16,318 (-24.9%), from €65,550 to €49,233
of which Furniture and vehicles: -€16,156
- Other debts -€124,585
down €124,585 (-23.5%), from €531,000 to €406,415
- Tax, wage and social debts +€12,001
new in 2025: €12,001
- Accrued charges and deferred income -€8,180
down €8,180 (-77.6%), from €10,541 to €2,361
- Profit (loss) carried forward +€6,558
up €6,558 (+1,331%), from €493 to €7,051
- Gross operating margin -€19,709
down €19,709 (-3.4%), from €571,985 to €552,276
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 | €553,863 | €438,499 | -€115,364 | -20.8% |
| Fixed assets | 21/28 | €65,550 | €49,233 | -€16,318 | -24.9% |
| Tangible fixed assets | 22/27 | €65,550 | €49,233 | -€16,318 | -24.9% |
| Plant, machinery and equipment | 23 | €620 | €458 | -€162 | -26.1% |
| Furniture and vehicles | 24 | €64,931 | €48,775 | -€16,156 | -24.9% |
| Current assets | 29/58 | €488,312 | €389,266 | -€99,046 | -20.3% |
| Amounts receivable within one year | 40/41 | €238,054 | €46,714 | -€191,340 | -80.4% |
| Trade receivables | 40 | €62,916 | €41,609 | -€21,307 | -33.9% |
| Other amounts receivable | 41 | €175,138 | €5,105 | -€170,033 | -97.1% |
| Current investments | 50/53 | €215,000 | €258,694 | +€43,694 | +20.3% |
| Cash at bank and in hand | 54/58 | €32,894 | €60,619 | +€27,726 | +84.3% |
| Deferred charges and accrued income | 490/1 | €2,365 | €23,239 | +€20,874 | +883% |
| Total equity and liabilities | 10/49 | €553,863 | €438,499 | -€115,364 | -20.8% |
| Equity | 10/15 | €2,693 | €9,251 | +€6,558 | +244% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €493 | €7,051 | +€6,558 | +1,331% |
| Amounts payable | 17/49 | €551,170 | €429,248 | -€121,922 | -22.1% |
| Amounts payable within one year | 42/48 | €540,629 | €426,887 | -€113,742 | -21.0% |
| Trade debts | 44 | €9,629 | €8,471 | -€1,158 | -12.0% |
| Suppliers | 440/4 | €9,629 | €8,471 | -€1,158 | -12.0% |
| Taxes, remuneration and social security | 45 | - | €12,001 | +€12,001 | |
| Taxes | 450/3 | - | €12,001 | +€12,001 | |
| Other amounts payable | 47/48 | €531,000 | €406,415 | -€124,585 | -23.5% |
| Accrued charges and deferred income | 492/3 | €10,541 | €2,361 | -€8,180 | -77.6% |
| Non-recurring operating income | 76A | €6,618 | - | -€6,618 | |
| Remuneration, social security and pensions | 62 | €1,658 | €1,658 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,018 | €16,969 | -€49 | -0.3% |
| Other operating charges | 640/8 | €716 | €715 | -€2 | -0.2% |
| Gross operating margin | 9900 | €571,985 | €552,276 | -€19,709 | -3.4% |
| Operating profit (loss) | 9901 | €552,592 | €532,934 | -€19,658 | -3.6% |
| Financial income | 75/76B | €6 | €3,694 | +€3,689 | +64,712% |
| Recurring financial income | 75 | €6 | €3,694 | +€3,689 | +64,712% |
| Financial charges | 65/66B | €175 | €175 | +€0 | +0.1% |
| Recurring financial charges | 65 | €175 | €175 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €552,423 | €536,453 | -€15,970 | -2.9% |
| Income taxes | 67/77 | €132,837 | €129,895 | -€2,942 | -2.2% |
| Profit (loss) for the period | 9904 | €419,586 | €406,558 | -€13,028 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €419,586 | €406,558 | -€13,028 | -3.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.