Zenna: 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.
Zenna
Largest movements
- Cash -€122,245
down €122,245 (-69.2%), from €176,731 to €54,486
mainly Contributions, distributions and other (-€115,625) and Tax, wage and social debts (-€33,611)
- Receivables within one year +€22,894
up €22,894 (+657.1%), from €3,484 to €26,378
of which Other amounts receivable: +€16,965
- Tangible fixed assets -€6,856
down €6,856 (-23.3%), from €29,456 to €22,600
of which Plant, machinery and equipment: -€4,247
- Reserves -€105,914
down €105,914 (-72.2%), from €146,745 to €40,831
- Tax, wage and social debts -€33,611
down €33,611 (-61.7%), from €54,509 to €20,898
of which Taxes: -€34,576
- Other debts +€32,281
new in 2025: €32,281
- Gross operating margin -€134,876
down €134,876 (-84.9%), from €158,865 to €23,989
- Taxes -€30,370
down €30,370 (-87.0%), from €34,920 to €4,550
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 | €209,671 | €103,465 | -€106,206 | -50.7% |
| Fixed assets | 21/28 | €29,456 | €22,600 | -€6,856 | -23.3% |
| Tangible fixed assets | 22/27 | €29,456 | €22,600 | -€6,856 | -23.3% |
| Plant, machinery and equipment | 23 | €21,411 | €17,164 | -€4,247 | -19.8% |
| Furniture and vehicles | 24 | €8,044 | €5,436 | -€2,608 | -32.4% |
| Current assets | 29/58 | €180,216 | €80,865 | -€99,351 | -55.1% |
| Amounts receivable within one year | 40/41 | €3,484 | €26,378 | +€22,894 | +657.1% |
| Trade receivables | 40 | - | €5,929 | +€5,929 | |
| Other amounts receivable | 41 | €3,484 | €20,450 | +€16,965 | +486.9% |
| Cash at bank and in hand | 54/58 | €176,731 | €54,486 | -€122,245 | -69.2% |
| Total equity and liabilities | 10/49 | €209,671 | €103,465 | -€106,206 | -50.7% |
| Equity | 10/15 | €151,745 | €45,831 | -€105,914 | -69.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €146,745 | €40,831 | -€105,914 | -72.2% |
| Distributable reserves | 133 | €146,745 | €40,831 | -€105,914 | -72.2% |
| Amounts payable | 17/49 | €57,927 | €57,634 | -€292 | -0.5% |
| Amounts payable within one year | 42/48 | €57,927 | €57,235 | -€692 | -1.2% |
| Trade debts | 44 | €3,418 | €4,056 | +€638 | +18.7% |
| Suppliers | 440/4 | €3,418 | €4,056 | +€638 | +18.7% |
| Taxes, remuneration and social security | 45 | €54,509 | €20,898 | -€33,611 | -61.7% |
| Taxes | 450/3 | €54,366 | €19,790 | -€34,576 | -63.6% |
| Remuneration and social security | 454/9 | €142 | €1,108 | +€965 | +678.0% |
| Other amounts payable | 47/48 | - | €32,281 | +€32,281 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,929 | €8,197 | +€1,267 | +18.3% |
| Other operating charges | 640/8 | €580 | €595 | +€14 | +2.5% |
| Gross operating margin | 9900 | €158,865 | €23,989 | -€134,876 | -84.9% |
| Operating profit (loss) | 9901 | €151,355 | €15,198 | -€136,158 | -90.0% |
| Financial income | 75/76B | €77 | - | -€77 | |
| Recurring financial income | 75 | €77 | - | -€77 | |
| Financial charges | 65/66B | €887 | €936 | +€49 | +5.6% |
| Recurring financial charges | 65 | €887 | €936 | +€49 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €150,545 | €14,261 | -€136,284 | -90.5% |
| Income taxes | 67/77 | €34,920 | €4,550 | -€30,370 | -87.0% |
| Profit (loss) for the period | 9904 | €115,625 | €9,711 | -€105,914 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €115,625 | €9,711 | -€105,914 | -91.6% |
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 5 October 2026 via checked.be.