ZENOBE: 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.
ZENOBE
Largest movements
- Cash -€69,413
down €69,413 (-48.3%), from €143,626 to €74,213
mainly Contributions, distributions and other (-€59,357) and Receivables within one year (-€11,882)
- Receivables within one year +€11,882
up €11,882 (+1807.6%), from €657 to €12,539
of which Other amounts receivable: +€7,486
- Profit (loss) carried forward -€61,348
down €61,348 (-24.5%), from €250,774 to €189,426
- Gross operating margin -€510,533
down €510,533, from €498,112 to -€12,421
- Financial income +€25,309
new in 2025: €25,309
- Financial charges +€8,404
up €8,404 (+3572.6%), from €235 to €8,639
of which Non-recurring financial charges: +€8,396
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 | €653,284 | €591,315 | -€61,968 | -9.5% |
| Fixed assets | 21/28 | €8,537 | €3,082 | -€5,454 | -63.9% |
| Tangible fixed assets | 22/27 | €7,502 | €2,047 | -€5,454 | -72.7% |
| Furniture and vehicles | 24 | €7,502 | €2,047 | -€5,454 | -72.7% |
| Financial fixed assets | 28 | €1,035 | €1,035 | = | 0.0% |
| Current assets | 29/58 | €644,747 | €588,233 | -€56,514 | -8.8% |
| Amounts receivable within one year | 40/41 | €657 | €12,539 | +€11,882 | +1807.6% |
| Trade receivables | 40 | €657 | €5,053 | +€4,396 | +668.8% |
| Other amounts receivable | 41 | - | €7,486 | +€7,486 | |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,626 | €74,213 | -€69,413 | -48.3% |
| Deferred charges and accrued income | 490/1 | €464 | €1,481 | +€1,017 | +219.3% |
| Total equity and liabilities | 10/49 | €653,284 | €591,315 | -€61,968 | -9.5% |
| Equity | 10/15 | €651,097 | €589,749 | -€61,348 | -9.4% |
| Contributions | 10/11 | €308,818 | €308,818 | = | 0.0% |
| Capital | 10 | €278,027 | €278,027 | = | 0.0% |
| Issued capital | 100 | €278,027 | €278,027 | = | 0.0% |
| Outside capital | 11 | €30,791 | €30,791 | = | 0.0% |
| Share premium | 1100/10 | €30,791 | €30,791 | = | 0.0% |
| Revaluation surpluses | 12 | €45,553 | €45,553 | = | 0.0% |
| Reserves | 13 | €45,952 | €45,952 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,072 | €13,072 | = | 0.0% |
| Legal reserve | 130 | €13,072 | €13,072 | = | 0.0% |
| Tax-exempt reserves | 132 | €889 | €889 | = | 0.0% |
| Distributable reserves | 133 | €31,992 | €31,992 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,774 | €189,426 | -€61,348 | -24.5% |
| Amounts payable | 17/49 | €2,187 | €1,566 | -€621 | -28.4% |
| Amounts payable within one year | 42/48 | €1,687 | €1,566 | -€121 | -7.2% |
| Taxes, remuneration and social security | 45 | €307 | - | -€307 | |
| Taxes | 450/3 | €307 | - | -€307 | |
| Other amounts payable | 47/48 | €1,380 | €1,566 | +€186 | +13.5% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,454 | €5,454 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,067 | €679 | -€3,388 | -83.3% |
| Gross operating margin | 9900 | €498,112 | -€12,421 | -€510,533 | |
| Operating profit (loss) | 9901 | €488,591 | -€18,554 | -€507,146 | |
| Financial income | 75/76B | - | €25,309 | +€25,309 | |
| Recurring financial income | 75 | - | €25,309 | +€25,309 | |
| Financial charges | 65/66B | €235 | €8,639 | +€8,404 | +3572.6% |
| Recurring financial charges | 65 | €235 | €243 | +€8 | +3.3% |
| Non-recurring financial charges | 66B | - | €8,396 | +€8,396 | |
| Profit (loss) for the period before taxes | 9903 | €488,356 | -€1,884 | -€490,240 | |
| Income taxes | 67/77 | €307 | €107 | -€200 | -65.2% |
| Profit (loss) for the period | 9904 | €488,049 | -€1,991 | -€490,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €488,049 | -€1,991 | -€490,040 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.