ZENITH: 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.
ZENITH
Largest movements
- Cash +€40,668
up €40,668 (+66.2%), from €61,467 to €102,135
mainly Other debts (+€62,425) and Net result for the year (+€60,237)
- Receivables within one year -€6,317
down €6,317 (-100.0%), from €6,317 to €0
- Other debts +€62,425
up €62,425 (+524.7%), from €11,897 to €74,323
- Profit (loss) carried forward -€38,763
down €38,763 (-98.0%), from €39,539 to €776
- Trade debts +€8,273
up €8,273 (+1347.7%), from €614 to €8,886
- Tax, wage and social debts +€2,420
up €2,420 (+17.9%), from €13,497 to €15,918
- Gross operating margin +€16,761
up €16,761 (+27.2%), from €61,553 to €78,314
- Staff costs -€11,031
down €11,031 (-100.0%), from €11,031 to €0
- Taxes +€7,023
up €7,023 (+66.6%), from €10,550 to €17,573
- Financial charges -€956
down €956 (-88.8%), from €1,076 to €120
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 | €68,547 | €102,902 | +€34,355 | +50.1% |
| Current assets | 29/58 | €68,547 | €102,902 | +€34,355 | +50.1% |
| Amounts receivable within one year | 40/41 | €6,317 | €0 | -€6,317 | -100.0% |
| Other amounts receivable | 41 | €6,317 | €0 | -€6,317 | -100.0% |
| Cash at bank and in hand | 54/58 | €61,467 | €102,135 | +€40,668 | +66.2% |
| Deferred charges and accrued income | 490/1 | €764 | €768 | +€4 | +0.5% |
| Total equity and liabilities | 10/49 | €68,547 | €102,902 | +€34,355 | +50.1% |
| Equity | 10/15 | €42,539 | €3,776 | -€38,763 | -91.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,539 | €776 | -€38,763 | -98.0% |
| Amounts payable | 17/49 | €26,009 | €99,127 | +€73,118 | +281.1% |
| Amounts payable within one year | 42/48 | €26,009 | €99,127 | +€73,118 | +281.1% |
| Trade debts | 44 | €614 | €8,886 | +€8,273 | +1347.7% |
| Suppliers | 440/4 | €614 | €8,886 | +€8,273 | +1347.7% |
| Taxes, remuneration and social security | 45 | €13,497 | €15,918 | +€2,420 | +17.9% |
| Taxes | 450/3 | €13,497 | €15,918 | +€2,420 | +17.9% |
| Other amounts payable | 47/48 | €11,897 | €74,323 | +€62,425 | +524.7% |
| Remuneration, social security and pensions | 62 | €11,031 | €0 | -€11,031 | -100.0% |
| Other operating charges | 640/8 | €329 | €547 | +€219 | +66.6% |
| Gross operating margin | 9900 | €61,553 | €78,314 | +€16,761 | +27.2% |
| Operating profit (loss) | 9901 | €50,193 | €77,767 | +€27,574 | +54.9% |
| Financial income | 75/76B | €45 | €163 | +€119 | +266.7% |
| Recurring financial income | 75 | €45 | €163 | +€119 | +266.7% |
| Financial charges | 65/66B | €1,076 | €120 | -€956 | -88.8% |
| Recurring financial charges | 65 | €1,076 | €120 | -€956 | -88.8% |
| Profit (loss) for the period before taxes | 9903 | €49,162 | €77,810 | +€28,648 | +58.3% |
| Income taxes | 67/77 | €10,550 | €17,573 | +€7,023 | +66.6% |
| Profit (loss) for the period | 9904 | €38,612 | €60,237 | +€21,625 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,612 | €60,237 | +€21,625 | +56.0% |
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 6 October 2026 via checked.be.