ZENITH PADEL: 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 PADEL
Largest movements
- Receivables within one year -€24,210
down €24,210 (-79.6%), from €30,401 to €6,191
of which Other amounts receivable: -€26,148
- Tangible fixed assets +€24,198
up €24,198 (+8.7%), from €279,544 to €303,743
of which Land and buildings: +€15,824
- Cash -€9,246
down €9,246 (-39.8%), from €23,208 to €13,962
mainly Investment in fixed assets (net) (-€41,168) and Debts after one year (-€27,515)
- Debts after one year -€27,515
down €27,515 (-14.6%), from €188,716 to €161,202
- Trade debts -€25,904
down €25,904 (-85.9%), from €30,165 to €4,261
- Profit (loss) carried forward +€19,700
up €19,700, from -€14,012 to €5,687
- Other debts +€10,000
up €10,000 (+16.1%), from €62,000 to €72,000
- Current portion of long-term debt +€8,731
up €8,731 (+41.0%), from €21,284 to €30,015
- Gross operating margin +€60,109
up €60,109, from -€11,127 to €48,982
- Depreciation +€16,394
up €16,394 (+2848.2%), from €576 to €16,970
- Financial charges +€10,451
up €10,451 (+714.2%), from €1,463 to €11,914
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 | €333,153 | €324,556 | -€8,597 | -2.6% |
| Fixed assets | 21/28 | €279,544 | €303,743 | +€24,198 | +8.7% |
| Tangible fixed assets | 22/27 | €279,544 | €303,743 | +€24,198 | +8.7% |
| Land and buildings | 22 | €279,544 | €295,369 | +€15,824 | +5.7% |
| Plant, machinery and equipment | 23 | - | €8,374 | +€8,374 | |
| Current assets | 29/58 | €53,609 | €20,813 | -€32,796 | -61.2% |
| Amounts receivable within one year | 40/41 | €30,401 | €6,191 | -€24,210 | -79.6% |
| Trade receivables | 40 | €4,252 | €6,191 | +€1,938 | +45.6% |
| Other amounts receivable | 41 | €26,148 | - | -€26,148 | |
| Cash at bank and in hand | 54/58 | €23,208 | €13,962 | -€9,246 | -39.8% |
| Deferred charges and accrued income | 490/1 | - | €660 | +€660 | |
| Total equity and liabilities | 10/49 | €333,153 | €324,556 | -€8,597 | -2.6% |
| Equity | 10/15 | €30,988 | €50,687 | +€19,700 | +63.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,012 | €5,687 | +€19,700 | |
| Amounts payable | 17/49 | €302,165 | €273,868 | -€28,297 | -9.4% |
| Amounts payable after more than one year | 17 | €188,716 | €161,202 | -€27,515 | -14.6% |
| Financial debts | 170/4 | €188,716 | €161,202 | -€27,515 | -14.6% |
| Amounts payable within one year | 42/48 | €113,449 | €112,241 | -€1,208 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €21,284 | €30,015 | +€8,731 | +41.0% |
| Trade debts | 44 | €30,165 | €4,261 | -€25,904 | -85.9% |
| Suppliers | 440/4 | €30,165 | €4,261 | -€25,904 | -85.9% |
| Taxes, remuneration and social security | 45 | - | €5,965 | +€5,965 | |
| Taxes | 450/3 | - | €5,965 | +€5,965 | |
| Other amounts payable | 47/48 | €62,000 | €72,000 | +€10,000 | +16.1% |
| Accrued charges and deferred income | 492/3 | - | €425 | +€425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576 | €16,970 | +€16,394 | +2848.2% |
| Other operating charges | 640/8 | €847 | €400 | -€447 | -52.8% |
| Gross operating margin | 9900 | -€11,127 | €48,982 | +€60,109 | |
| Operating profit (loss) | 9901 | -€12,549 | €31,613 | +€44,162 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,463 | €11,914 | +€10,451 | +714.2% |
| Recurring financial charges | 65 | €1,463 | €11,914 | +€10,451 | +714.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,012 | €19,700 | +€33,712 | |
| Profit (loss) for the period | 9904 | -€14,012 | €19,700 | +€33,712 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,012 | €19,700 | +€33,712 |
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.