Zenith Graphics License Plates: 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.
Zenith Graphics License Plates
Largest movements
- Stocks and contracts -€526,755
down €526,755 (-43.3%), from €1.2m to €689,872
- Cash +€380,282
up €380,282 (+29.7%), from €1.3m to €1.7m
mainly Net result for the year (+€1.0m) and Stocks and contracts (+€526,755)
- Tangible fixed assets -€60,952
down €60,952 (-7.6%), from €802,253 to €741,301
of which Other tangible fixed assets: -€64,703
- Current portion of long-term debt -€334,685
down €334,685 (-84.7%), from €395,001 to €60,316
- Other debts +€250,000
up €250,000 (+33.3%), from €750,000 to €1.0m
- Short-term financial debts -€67,601
down €67,601 (-100%), from €67,601 to €0
- Debts after one year -€60,316
down €60,316 (-33.9%), from €177,711 to €117,395
- Gross operating margin +€165,414
up €165,414 (+10.1%), from €1.6m to €1.8m
- Taxes +€64,811
up €64,811 (+24.7%), from €262,000 to €326,811
- Depreciation -€52,491
down €52,491 (-27.4%), from €191,362 to €138,870
- Staff costs -€43,568
down €43,568 (-12.5%), from €349,675 to €306,107
- Other operating charges -€22,671
down €22,671 (-91.2%), from €24,867 to €2,196
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 | €3,757,332 | €3,572,001 | -€185,331 | -4.9% |
| Fixed assets | 21/28 | €810,051 | €741,701 | -€68,350 | -8.4% |
| Intangible fixed assets | 21 | €7,398 | €0 | -€7,398 | -100% |
| Tangible fixed assets | 22/27 | €802,253 | €741,301 | -€60,952 | -7.6% |
| Plant, machinery and equipment | 23 | €92,132 | €81,889 | -€10,242 | -11.1% |
| Furniture and vehicles | 24 | €55,666 | €69,659 | +€13,994 | +25.1% |
| Other tangible fixed assets | 26 | €654,455 | €589,753 | -€64,703 | -9.9% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €2,947,281 | €2,830,300 | -€116,981 | -4.0% |
| Stocks and contracts in progress | 3 | €1,216,627 | €689,872 | -€526,755 | -43.3% |
| Stocks | 30/36 | €1,216,627 | €689,872 | -€526,755 | -43.3% |
| Amounts receivable within one year | 40/41 | €434,644 | €466,629 | +€31,985 | +7.4% |
| Trade receivables | 40 | €434,139 | €466,186 | +€32,047 | +7.4% |
| Other amounts receivable | 41 | €505 | €443 | -€61 | -12.1% |
| Cash at bank and in hand | 54/58 | €1,279,430 | €1,659,712 | +€380,282 | +29.7% |
| Deferred charges and accrued income | 490/1 | €16,580 | €14,086 | -€2,494 | -15.0% |
| Total equity and liabilities | 10/49 | €3,757,332 | €3,572,001 | -€185,331 | -4.9% |
| Equity | 10/15 | €2,148,828 | €2,154,573 | +€5,745 | +0.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,086,828 | €2,092,573 | +€5,745 | +0.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,080,628 | €2,086,373 | +€5,745 | +0.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,608,504 | €1,417,428 | -€191,077 | -11.9% |
| Amounts payable after more than one year | 17 | €177,711 | €117,395 | -€60,316 | -33.9% |
| Financial debts | 170/4 | €177,711 | €117,395 | -€60,316 | -33.9% |
| Amounts payable within one year | 42/48 | €1,425,456 | €1,296,665 | -€128,792 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €395,001 | €60,316 | -€334,685 | -84.7% |
| Financial debts | 43 | €67,601 | €0 | -€67,601 | -100% |
| Credit institutions | 430/8 | €67,601 | €0 | -€67,601 | -100% |
| Trade debts | 44 | €117,652 | €151,277 | +€33,625 | +28.6% |
| Suppliers | 440/4 | €117,652 | €151,277 | +€33,625 | +28.6% |
| Taxes, remuneration and social security | 45 | €95,202 | €85,072 | -€10,130 | -10.6% |
| Taxes | 450/3 | €69,369 | €62,005 | -€7,364 | -10.6% |
| Remuneration and social security | 454/9 | €25,833 | €23,067 | -€2,766 | -10.7% |
| Other amounts payable | 47/48 | €750,000 | €1,000,000 | +€250,000 | +33.3% |
| Accrued charges and deferred income | 492/3 | €5,337 | €3,368 | -€1,969 | -36.9% |
| Remuneration, social security and pensions | 62 | €349,675 | €306,107 | -€43,568 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,362 | €138,870 | -€52,491 | -27.4% |
| Other operating charges | 640/8 | €24,867 | €2,196 | -€22,671 | -91.2% |
| Gross operating margin | 9900 | €1,633,899 | €1,799,313 | +€165,414 | +10.1% |
| Operating profit (loss) | 9901 | €1,067,996 | €1,352,140 | +€284,144 | +26.6% |
| Financial income | 75/76B | €1,952 | €0 | -€1,952 | -100.0% |
| Recurring financial income | 75 | €1,952 | €0 | -€1,952 | -100.0% |
| Financial charges | 65/66B | €27,117 | €19,584 | -€7,533 | -27.8% |
| Recurring financial charges | 65 | €27,117 | €19,584 | -€7,533 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €1,042,831 | €1,332,556 | +€289,725 | +27.8% |
| Income taxes | 67/77 | €262,000 | €326,811 | +€64,811 | +24.7% |
| Profit (loss) for the period | 9904 | €780,831 | €1,005,745 | +€224,915 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €780,831 | €1,005,745 | +€224,915 | +28.8% |
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 30 October 2026 via checked.be.