zendzend: 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.
zendzend
Largest movements
- Deferred charges and accrued income +€224,186
up €224,186 (+1318.7%), from €17,000 to €241,186
- Financial fixed assets +€153,418
new in 2025: €153,418
- Receivables within one year -€93,207
down €93,207 (-31.2%), from €299,141 to €205,933
of which Trade receivables: -€123,023
- Cash -€81,475
down €81,475 (-82.0%), from €99,408 to €17,934
mainly Deferred charges and accrued income (-€224,186) and Investment in fixed assets (net) (-€205,286)
- Intangible fixed assets +€39,016
new in 2025: €39,016
- Accrued charges and deferred income +€234,807
up €234,807 (+34050.8%), from €690 to €235,497
- Tax, wage and social debts -€81,456
down €81,456 (-80.6%), from €101,048 to €19,592
of which Taxes: -€87,022
- Debts after one year +€51,257
new in 2025: €51,257
- Current portion of long-term debt +€14,109
up €14,109 (+47.0%), from €30,000 to €44,109
- Reserves +€13,497
up €13,497 (+4.8%), from €280,878 to €294,376
- Gross operating margin -€96,934
down €96,934 (-40.0%), from €242,315 to €145,380
- Staff costs -€34,100
down €34,100 (-24.5%), from €139,248 to €105,147
- Taxes -€15,214
down €15,214 (-97.8%), from €15,561 to €347
- Depreciation +€4,825
up €4,825 (+43.6%), from €11,071 to €15,896
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 | €471,352 | €703,601 | +€232,249 | +49.3% |
| Fixed assets | 21/28 | €25,804 | €215,194 | +€189,390 | +734.0% |
| Intangible fixed assets | 21 | - | €39,016 | +€39,016 | |
| Tangible fixed assets | 22/27 | €25,804 | €22,760 | -€3,044 | -11.8% |
| Plant, machinery and equipment | 23 | €21,249 | €17,917 | -€3,332 | -15.7% |
| Furniture and vehicles | 24 | €824 | €2,004 | +€1,181 | +143.3% |
| Other tangible fixed assets | 26 | €3,731 | €2,838 | -€892 | -23.9% |
| Financial fixed assets | 28 | - | €153,418 | +€153,418 | |
| Current assets | 29/58 | €445,549 | €488,408 | +€42,859 | +9.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €5,000 | -€25,000 | -83.3% |
| Other amounts receivable | 291 | €30,000 | €5,000 | -€25,000 | -83.3% |
| Amounts receivable within one year | 40/41 | €299,141 | €205,933 | -€93,207 | -31.2% |
| Trade receivables | 40 | €264,262 | €141,239 | -€123,023 | -46.6% |
| Other amounts receivable | 41 | €34,878 | €64,694 | +€29,816 | +85.5% |
| Current investments | 50/53 | - | €18,355 | +€18,355 | |
| Cash at bank and in hand | 54/58 | €99,408 | €17,934 | -€81,475 | -82.0% |
| Deferred charges and accrued income | 490/1 | €17,000 | €241,186 | +€224,186 | +1318.7% |
| Total equity and liabilities | 10/49 | €471,352 | €703,601 | +€232,249 | +49.3% |
| Equity | 10/15 | €282,878 | €296,376 | +€13,497 | +4.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €280,878 | €294,376 | +€13,497 | +4.8% |
| Distributable reserves | 133 | €280,878 | €294,376 | +€13,497 | +4.8% |
| Amounts payable | 17/49 | €188,474 | €407,226 | +€218,752 | +116.1% |
| Amounts payable after more than one year | 17 | - | €51,257 | +€51,257 | |
| Financial debts | 170/4 | - | €51,257 | +€51,257 | |
| Amounts payable within one year | 42/48 | €187,784 | €120,472 | -€67,313 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €44,109 | +€14,109 | +47.0% |
| Trade debts | 44 | €56,401 | €56,545 | +€144 | +0.3% |
| Suppliers | 440/4 | €56,401 | €56,545 | +€144 | +0.3% |
| Taxes, remuneration and social security | 45 | €101,048 | €19,592 | -€81,456 | -80.6% |
| Taxes | 450/3 | €94,322 | €7,300 | -€87,022 | -92.3% |
| Remuneration and social security | 454/9 | €6,726 | €12,292 | +€5,566 | +82.8% |
| Other amounts payable | 47/48 | €336 | €226 | -€110 | -32.7% |
| Accrued charges and deferred income | 492/3 | €690 | €235,497 | +€234,807 | +34050.8% |
| Remuneration, social security and pensions | 62 | €139,248 | €105,147 | -€34,100 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,071 | €15,896 | +€4,825 | +43.6% |
| Other operating charges | 640/8 | €431 | €680 | +€249 | +57.6% |
| Non-recurring operating charges | 66A | - | €166 | +€166 | |
| Gross operating margin | 9900 | €242,315 | €145,380 | -€96,934 | -40.0% |
| Operating profit (loss) | 9901 | €91,564 | €23,491 | -€68,073 | -74.3% |
| Financial income | 75/76B | €355 | €2,053 | +€1,698 | +478.4% |
| Recurring financial income | 75 | €355 | €2,053 | +€1,698 | +478.4% |
| Financial charges | 65/66B | €10,655 | €11,700 | +€1,045 | +9.8% |
| Recurring financial charges | 65 | €10,655 | €11,700 | +€1,045 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €81,264 | €13,844 | -€67,420 | -83.0% |
| Income taxes | 67/77 | €15,561 | €347 | -€15,214 | -97.8% |
| Profit (loss) for the period | 9904 | €65,703 | €13,497 | -€52,205 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,703 | €13,497 | -€52,205 | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.