ZENNS: 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.
ZENNS
Largest movements
- Tangible fixed assets -€11,083
down €11,083 (-16.9%), from €65,543 to €54,460
of which Land and buildings: -€8,429
- Cash -€9,215
down €9,215 (-83.3%), from €11,069 to €1,854
mainly Other debts (-€10,472) and Debts after one year (-€7,627)
- Stocks and contracts -€3,534
no longer reported in 2025 (was €3,534)
- Other debts -€10,472
down €10,472 (-49.2%), from €21,269 to €10,797
- Debts after one year -€7,627
down €7,627 (-17.9%), from €42,713 to €35,086
- Profit (loss) carried forward -€6,339
down €6,339 (-23.7%), from -€26,729 to -€33,068
- Current portion of long-term debt +€4,876
up €4,876 (+35.7%), from €13,650 to €18,526
- Tax, wage and social debts -€4,539
no longer reported in 2025 (was €4,539)
- Gross operating margin +€35,752
up €35,752, from -€29,433 to €6,319
- Financial charges -€5,496
down €5,496 (-70.0%), from €7,850 to €2,354
- Depreciation -€1,008
down €1,008 (-10.3%), from €9,770 to €8,762
- Other operating charges -€513
down €513 (-26.1%), from €1,968 to €1,455
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 | €80,442 | €56,531 | -€23,911 | -29.7% |
| Fixed assets | 21/28 | €65,588 | €54,505 | -€11,083 | -16.9% |
| Tangible fixed assets | 22/27 | €65,543 | €54,460 | -€11,083 | -16.9% |
| Land and buildings | 22 | €62,834 | €54,405 | -€8,429 | -13.4% |
| Plant, machinery and equipment | 23 | €388 | €55 | -€333 | -85.8% |
| Furniture and vehicles | 24 | €2,321 | - | -€2,321 | |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €14,854 | €2,026 | -€12,828 | -86.4% |
| Stocks and contracts in progress | 3 | €3,534 | - | -€3,534 | |
| Stocks | 30/36 | €3,534 | - | -€3,534 | |
| Amounts receivable within one year | 40/41 | €251 | €172 | -€79 | -31.5% |
| Other amounts receivable | 41 | €251 | €172 | -€79 | -31.5% |
| Cash at bank and in hand | 54/58 | €11,069 | €1,854 | -€9,215 | -83.3% |
| Total equity and liabilities | 10/49 | €80,442 | €56,531 | -€23,911 | -29.7% |
| Equity | 10/15 | -€1,729 | -€8,068 | -€6,339 | -366.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,729 | -€33,068 | -€6,339 | -23.7% |
| Amounts payable | 17/49 | €82,171 | €64,599 | -€17,572 | -21.4% |
| Amounts payable after more than one year | 17 | €42,713 | €35,086 | -€7,627 | -17.9% |
| Financial debts | 170/4 | €42,713 | €35,086 | -€7,627 | -17.9% |
| Amounts payable within one year | 42/48 | €39,458 | €29,513 | -€9,945 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €13,650 | €18,526 | +€4,876 | +35.7% |
| Trade debts | 44 | - | €190 | +€190 | |
| Suppliers | 440/4 | - | €190 | +€190 | |
| Taxes, remuneration and social security | 45 | €4,539 | - | -€4,539 | |
| Taxes | 450/3 | €4,539 | - | -€4,539 | |
| Other amounts payable | 47/48 | €21,269 | €10,797 | -€10,472 | -49.2% |
| Non-recurring operating income | 76A | - | €13,660 | +€13,660 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,770 | €8,762 | -€1,008 | -10.3% |
| Other operating charges | 640/8 | €1,968 | €1,455 | -€513 | -26.1% |
| Gross operating margin | 9900 | -€29,433 | €6,319 | +€35,752 | |
| Operating profit (loss) | 9901 | -€41,171 | -€3,898 | +€37,273 | +90.5% |
| Financial income | 75/76B | - | €70 | +€70 | |
| Recurring financial income | 75 | - | €70 | +€70 | |
| Financial charges | 65/66B | €7,850 | €2,354 | -€5,496 | -70.0% |
| Recurring financial charges | 65 | €7,850 | €2,354 | -€5,496 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | -€49,021 | -€6,182 | +€42,839 | +87.4% |
| Income taxes | 67/77 | €197 | €157 | -€40 | -20.3% |
| Profit (loss) for the period | 9904 | -€49,218 | -€6,339 | +€42,879 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,218 | -€6,339 | +€42,879 | +87.1% |
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.