ZENDIEL: 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.
ZENDIEL
Largest movements
- Receivables within one year -€280,547
down €280,547 (-89.5%), from €313,569 to €33,023
of which Trade receivables: -€264,806
- Cash +€224,955
up €224,955 (+49.9%), from €451,191 to €676,146
mainly Receivables within one year (+€280,547) and Other debts (+€87,777)
- Trade debts -€139,360
down €139,360 (-84.8%), from €164,281 to €24,920
- Other debts +€87,777
up €87,777 (+54.0%), from €162,628 to €250,406
- Debts after one year -€19,573
down €19,573 (-2.7%), from €722,248 to €702,676
- Gross operating margin -€551,144
down €551,144 (-86.2%), from €639,218 to €88,074
- Taxes -€157,366
down €157,366 (-98.7%), from €159,478 to €2,112
- Depreciation -€51,293
down €51,293 (-67.4%), from €76,057 to €24,764
- Other operating charges -€28,339
down €28,339 (-78.1%), from €36,307 to €7,968
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 | €1,679,495 | €1,613,422 | -€66,073 | -3.9% |
| Fixed assets | 21/28 | €914,734 | €901,866 | -€12,868 | -1.4% |
| Tangible fixed assets | 22/27 | €706,106 | €693,238 | -€12,868 | -1.8% |
| Land and buildings | 22 | €706,106 | €682,640 | -€23,466 | -3.3% |
| Plant, machinery and equipment | 23 | - | €10,598 | +€10,598 | |
| Financial fixed assets | 28 | €208,628 | €208,628 | = | 0.0% |
| Current assets | 29/58 | €764,760 | €711,556 | -€53,205 | -7.0% |
| Amounts receivable within one year | 40/41 | €313,569 | €33,023 | -€280,547 | -89.5% |
| Trade receivables | 40 | €291,278 | €26,472 | -€264,806 | -90.9% |
| Other amounts receivable | 41 | €22,291 | €6,551 | -€15,740 | -70.6% |
| Cash at bank and in hand | 54/58 | €451,191 | €676,146 | +€224,955 | +49.9% |
| Deferred charges and accrued income | 490/1 | - | €2,387 | +€2,387 | |
| Total equity and liabilities | 10/49 | €1,679,495 | €1,613,422 | -€66,073 | -3.9% |
| Equity | 10/15 | €486,761 | €492,280 | +€5,519 | +1.1% |
| Contributions | 10/11 | €243,600 | €243,600 | = | 0.0% |
| Reserves | 13 | €243,161 | €248,680 | +€5,519 | +2.3% |
| Non-distributable reserves | 130/1 | €6,284 | €6,284 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,284 | €6,284 | = | 0.0% |
| Distributable reserves | 133 | €236,877 | €242,396 | +€5,519 | +2.3% |
| Amounts payable | 17/49 | €1,192,734 | €1,121,142 | -€71,592 | -6.0% |
| Amounts payable after more than one year | 17 | €722,248 | €702,676 | -€19,573 | -2.7% |
| Financial debts | 170/4 | €722,248 | €702,676 | -€19,573 | -2.7% |
| Amounts payable within one year | 42/48 | €470,485 | €418,466 | -€52,019 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €18,800 | €19,573 | +€773 | +4.1% |
| Trade debts | 44 | €164,281 | €24,920 | -€139,360 | -84.8% |
| Suppliers | 440/4 | €164,281 | €24,920 | -€139,360 | -84.8% |
| Taxes, remuneration and social security | 45 | €124,776 | €123,567 | -€1,209 | -1.0% |
| Taxes | 450/3 | €122,205 | €119,393 | -€2,812 | -2.3% |
| Remuneration and social security | 454/9 | €2,571 | €4,174 | +€1,603 | +62.3% |
| Other amounts payable | 47/48 | €162,628 | €250,406 | +€87,777 | +54.0% |
| Remuneration, social security and pensions | 62 | €32,703 | €34,151 | +€1,449 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,057 | €24,764 | -€51,293 | -67.4% |
| Other operating charges | 640/8 | €36,307 | €7,968 | -€28,339 | -78.1% |
| Gross operating margin | 9900 | €639,218 | €88,074 | -€551,144 | -86.2% |
| Operating profit (loss) | 9901 | €494,151 | €21,191 | -€472,960 | -95.7% |
| Financial charges | 65/66B | €18,998 | €13,559 | -€5,438 | -28.6% |
| Recurring financial charges | 65 | €18,998 | €13,559 | -€5,438 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €475,153 | €7,631 | -€467,522 | -98.4% |
| Income taxes | 67/77 | €159,478 | €2,112 | -€157,366 | -98.7% |
| Profit (loss) for the period | 9904 | €315,675 | €5,519 | -€310,156 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €315,675 | €5,519 | -€310,156 | -98.3% |
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 13 October 2026 via checked.be.