ZENITH SERVICES: 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 SERVICES
Largest movements
- Receivables within one year -€26,128
down €26,128 (-64.5%), from €40,499 to €14,371
- Tangible fixed assets -€16,851
down €16,851 (-7.2%), from €234,235 to €217,385
of which Furniture and vehicles: -€14,306
- Cash -€7,038
down €7,038 (-60.3%), from €11,666 to €4,628
mainly Other debts (-€38,215) and Investment in fixed assets (net) (-€14,742)
- Other debts -€38,215
down €38,215 (-100.0%), from €38,215 to €0
- Reserves -€13,416
down €13,416 (-5.8%), from €229,850 to €216,434
of which Distributable reserves: -€11,982
- Profit (loss) carried forward +€9,130
up €9,130, from -€9,130 to €0
- Current portion of long-term debt -€8,250
down €8,250 (-100.0%), from €8,250 to €0
- Gross operating margin +€3,793
up €3,793 (+13.4%), from €28,403 to €32,197
- Financial income +€701
up €701 (+7008.4%), from €10 to €711
- Financial charges -€683
down €683 (-84.6%), from €807 to €124
- Taxes +€564
up €564 (+17.0%), from €3,318 to €3,882
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 | €287,040 | €236,940 | -€50,100 | -17.5% |
| Fixed assets | 21/28 | €234,235 | €217,385 | -€16,851 | -7.2% |
| Tangible fixed assets | 22/27 | €234,235 | €217,385 | -€16,851 | -7.2% |
| Land and buildings | 22 | €177,403 | €172,805 | -€4,599 | -2.6% |
| Plant, machinery and equipment | 23 | - | €2,054 | +€2,054 | |
| Furniture and vehicles | 24 | €56,832 | €42,526 | -€14,306 | -25.2% |
| Current assets | 29/58 | €52,805 | €19,555 | -€33,250 | -63.0% |
| Amounts receivable within one year | 40/41 | €40,499 | €14,371 | -€26,128 | -64.5% |
| Other amounts receivable | 41 | €40,499 | €14,371 | -€26,128 | -64.5% |
| Cash at bank and in hand | 54/58 | €11,666 | €4,628 | -€7,038 | -60.3% |
| Deferred charges and accrued income | 490/1 | €640 | €556 | -€83 | -13.0% |
| Total equity and liabilities | 10/49 | €287,040 | €236,940 | -€50,100 | -17.5% |
| Equity | 10/15 | €239,320 | €235,034 | -€4,286 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €229,850 | €216,434 | -€13,416 | -5.8% |
| Tax-exempt reserves | 132 | €1,434 | €0 | -€1,434 | -100.0% |
| Distributable reserves | 133 | €228,416 | €216,434 | -€11,982 | -5.2% |
| Profit (loss) carried forward | 14 | -€9,130 | €0 | +€9,130 | |
| Amounts payable | 17/49 | €47,720 | €1,906 | -€45,814 | -96.0% |
| Amounts payable within one year | 42/48 | €47,720 | €1,906 | -€45,814 | -96.0% |
| Current portion of amounts payable after more than one year | 42 | €8,250 | €0 | -€8,250 | -100.0% |
| Trade debts | 44 | €747 | €1,647 | +€900 | +120.5% |
| Suppliers | 440/4 | €747 | €1,647 | +€900 | +120.5% |
| Taxes, remuneration and social security | 45 | €508 | €259 | -€249 | -49.0% |
| Taxes | 450/3 | €508 | €259 | -€249 | -49.0% |
| Other amounts payable | 47/48 | €38,215 | €0 | -€38,215 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,756 | €31,593 | -€163 | -0.5% |
| Other operating charges | 640/8 | €1,662 | €1,594 | -€68 | -4.1% |
| Gross operating margin | 9900 | €28,403 | €32,197 | +€3,793 | +13.4% |
| Operating profit (loss) | 9901 | -€5,015 | -€990 | +€4,024 | +80.2% |
| Financial income | 75/76B | €10 | €711 | +€701 | +7008.4% |
| Recurring financial income | 75 | €10 | €711 | +€701 | +7008.4% |
| Financial charges | 65/66B | €807 | €124 | -€683 | -84.6% |
| Recurring financial charges | 65 | €807 | €124 | -€683 | -84.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,812 | -€404 | +€5,408 | +93.0% |
| Income taxes | 67/77 | €3,318 | €3,882 | +€564 | +17.0% |
| Profit (loss) for the period | 9904 | -€9,130 | -€4,286 | +€4,843 | +53.0% |
| Transfer from tax-exempt reserves | 789 | - | €1,434 | +€1,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,130 | -€2,852 | +€6,277 | +68.8% |
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 10 October 2026 via checked.be.