Zennegat: 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.
Zennegat
Largest movements
- Cash -€18,638
down €18,638 (-43.3%), from €43,065 to €24,427
- Tangible fixed assets +€16,179
up €16,179 (+33.2%), from €48,680 to €64,859
of which Other tangible fixed assets: +€15,650
- Receivables within one year -€4,985
down €4,985 (-100%), from €4,985 to €0
of which Other amounts receivable: -€4,934
- Deferred charges and accrued income -€4,915
down €4,915 (-100%), from €4,915 to €0
- Stocks and contracts -€4,150
down €4,150 (-100%), from €4,150 to €0
- Other debts +€70,067
up €70,067 (+440%), from €15,933 to €86,000
- Profit (loss) carried forward -€61,006
new in 2025: -€61,006
- Accrued charges and deferred income -€24,913
down €24,913 (-99.9%), from €24,939 to €26
- Tax, wage and social debts -€5,293
down €5,293 (-17.4%), from €30,440 to €25,147
of which Taxes: -€9,711
- Trade debts +€1,785
up €1,785 (+12.9%), from €13,834 to €15,619
- Staff costs +€65,296
up €65,296 (+224%), from €29,131 to €94,427
- Gross operating margin -€21,548
down €21,548 (-33.7%), from €63,977 to €42,430
- Taxes -€2,902
down €2,902 (-100%), from €2,902 to €0
- Depreciation +€2,551
up €2,551 (+46.2%), from €5,527 to €8,078
- Financial income -€1,632
down €1,632 (-100%), from €1,632 to €0
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,645 | €89,286 | -€19,359 | -17.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €51,530 | €64,859 | +€13,329 | +25.9% |
| Tangible fixed assets | 22/27 | €48,680 | €64,859 | +€16,179 | +33.2% |
| Plant, machinery and equipment | 23 | €15,895 | €17,598 | +€1,704 | +10.7% |
| Furniture and vehicles | 24 | €3,770 | €2,596 | -€1,174 | -31.1% |
| Other tangible fixed assets | 26 | €29,015 | €44,665 | +€15,650 | +53.9% |
| Financial fixed assets | 28 | €2,850 | €0 | -€2,850 | -100% |
| Current assets | 29/58 | €57,116 | €24,427 | -€32,689 | -57.2% |
| Stocks and contracts in progress | 3 | €4,150 | €0 | -€4,150 | -100% |
| Stocks | 30/36 | €4,150 | €0 | -€4,150 | -100% |
| Amounts receivable within one year | 40/41 | €4,985 | €0 | -€4,985 | -100% |
| Trade receivables | 40 | €51 | €0 | -€51 | -100% |
| Other amounts receivable | 41 | €4,934 | €0 | -€4,934 | -100% |
| Cash at bank and in hand | 54/58 | €43,065 | €24,427 | -€18,638 | -43.3% |
| Deferred charges and accrued income | 490/1 | €4,915 | €0 | -€4,915 | -100% |
| Total equity and liabilities | 10/49 | €108,645 | €89,286 | -€19,359 | -17.8% |
| Equity | 10/15 | €23,500 | -€37,506 | -€61,006 | |
| Contributions | 10/11 | €18,500 | €18,500 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€61,006 | -€61,006 | |
| Amounts payable | 17/49 | €85,145 | €126,792 | +€41,647 | +48.9% |
| Amounts payable within one year | 42/48 | €60,206 | €126,766 | +€66,560 | +111% |
| Trade debts | 44 | €13,834 | €15,619 | +€1,785 | +12.9% |
| Suppliers | 440/4 | €13,834 | €15,619 | +€1,785 | +12.9% |
| Taxes, remuneration and social security | 45 | €30,440 | €25,147 | -€5,293 | -17.4% |
| Taxes | 450/3 | €22,960 | €13,249 | -€9,711 | -42.3% |
| Remuneration and social security | 454/9 | €7,480 | €11,899 | +€4,419 | +59.1% |
| Other amounts payable | 47/48 | €15,933 | €86,000 | +€70,067 | +440% |
| Accrued charges and deferred income | 492/3 | €24,939 | €26 | -€24,913 | -99.9% |
| Remuneration, social security and pensions | 62 | €29,131 | €94,427 | +€65,296 | +224% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,527 | €8,078 | +€2,551 | +46.2% |
| Other operating charges | 640/8 | €904 | €684 | -€220 | -24.3% |
| Gross operating margin | 9900 | €63,977 | €42,430 | -€21,548 | -33.7% |
| Operating profit (loss) | 9901 | €28,416 | -€60,760 | -€89,176 | |
| Financial income | 75/76B | €1,632 | €0 | -€1,632 | -100% |
| Recurring financial income | 75 | €1,632 | €0 | -€1,632 | -100% |
| Financial charges | 65/66B | €820 | €246 | -€574 | -70.0% |
| Recurring financial charges | 65 | €820 | €246 | -€574 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €29,228 | -€61,006 | -€90,234 | |
| Income taxes | 67/77 | €2,902 | €0 | -€2,902 | -100% |
| Profit (loss) for the period | 9904 | €26,325 | -€61,006 | -€87,331 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,325 | -€61,006 | -€87,331 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.