Zengoh: 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.
Zengoh
Largest movements
- Receivables within one year -€53,850
down €53,850 (-93.8%), from €57,440 to €3,590
- Deferred charges and accrued income +€16,005
up €16,005 (+445.8%), from €3,590 to €19,595
- Reserves -€100,558
down €100,558 (-91.6%), from €109,752 to €9,194
of which Distributable reserves: -€100,558
- Other debts +€67,999
up €67,999 (+6821.0%), from €997 to €68,996
- Accrued charges and deferred income -€3,061
down €3,061 (-68.3%), from €4,482 to €1,421
- Tax, wage and social debts -€2,814
down €2,814 (-28.7%), from €9,795 to €6,981
- Depreciation -€4,041
down €4,041 (-69.4%), from €5,819 to €1,778
- Gross operating margin +€2,967
up €2,967 (+3.0%), from €97,923 to €100,891
- Financial charges -€2,714
down €2,714 (-82.4%), from €3,295 to €581
- Financial income -€1,932
down €1,932 (-53.8%), from €3,590 to €1,658
- Taxes +€1,565
up €1,565 (+7.7%), from €20,416 to €21,981
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 | €201,801 | €163,443 | -€38,358 | -19.0% |
| Fixed assets | 21/28 | €78,151 | €76,373 | -€1,778 | -2.3% |
| Tangible fixed assets | 22/27 | €78,151 | €76,373 | -€1,778 | -2.3% |
| Land and buildings | 22 | €78,151 | €76,373 | -€1,778 | -2.3% |
| Current assets | 29/58 | €123,650 | €87,070 | -€36,580 | -29.6% |
| Amounts receivable within one year | 40/41 | €57,440 | €3,590 | -€53,850 | -93.8% |
| Other amounts receivable | 41 | €57,440 | €3,590 | -€53,850 | -93.8% |
| Cash at bank and in hand | 54/58 | €62,620 | €63,884 | +€1,264 | +2.0% |
| Deferred charges and accrued income | 490/1 | €3,590 | €19,595 | +€16,005 | +445.8% |
| Total equity and liabilities | 10/49 | €201,801 | €163,443 | -€38,358 | -19.0% |
| Equity | 10/15 | €186,516 | €85,957 | -€100,558 | -53.9% |
| Contributions | 10/11 | €76,763 | €76,763 | = | 0.0% |
| Reserves | 13 | €109,752 | €9,194 | -€100,558 | -91.6% |
| Non-distributable reserves | 130/1 | €7 | €7 | = | 0.0% |
| Other | 1319 | €7 | €7 | = | 0.0% |
| Distributable reserves | 133 | €109,746 | €9,187 | -€100,558 | -91.6% |
| Amounts payable | 17/49 | €15,285 | €77,485 | +€62,200 | +406.9% |
| Amounts payable within one year | 42/48 | €10,803 | €76,064 | +€65,261 | +604.1% |
| Trade debts | 44 | €11 | €88 | +€77 | +718.5% |
| Suppliers | 440/4 | €11 | €88 | +€77 | +718.5% |
| Taxes, remuneration and social security | 45 | €9,795 | €6,981 | -€2,814 | -28.7% |
| Taxes | 450/3 | €9,795 | €6,981 | -€2,814 | -28.7% |
| Other amounts payable | 47/48 | €997 | €68,996 | +€67,999 | +6821.0% |
| Accrued charges and deferred income | 492/3 | €4,482 | €1,421 | -€3,061 | -68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,819 | €1,778 | -€4,041 | -69.4% |
| Other operating charges | 640/8 | €12,343 | €12,767 | +€425 | +3.4% |
| Gross operating margin | 9900 | €97,923 | €100,891 | +€2,967 | +3.0% |
| Operating profit (loss) | 9901 | €79,762 | €86,346 | +€6,583 | +8.3% |
| Financial income | 75/76B | €3,590 | €1,658 | -€1,932 | -53.8% |
| Recurring financial income | 75 | €3,590 | €1,658 | -€1,932 | -53.8% |
| Financial charges | 65/66B | €3,295 | €581 | -€2,714 | -82.4% |
| Recurring financial charges | 65 | €3,295 | €581 | -€2,714 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €80,057 | €87,423 | +€7,365 | +9.2% |
| Income taxes | 67/77 | €20,416 | €21,981 | +€1,565 | +7.7% |
| Profit (loss) for the period | 9904 | €59,642 | €65,442 | +€5,800 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,642 | €65,442 | +€5,800 | +9.7% |
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 3 October 2026 via checked.be.