ZENOTRANS: 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.
ZENOTRANS
Largest movements
- Current investments +€20,485
up €20,485 (+17.7%), from €115,909 to €136,395
- Receivables within one year +€19,723
up €19,723 (+62.4%), from €31,630 to €51,353
of which Other amounts receivable: +€12,423
- Cash -€4,184
down €4,184 (-13.3%), from €31,557 to €27,373
mainly Current investments (-€20,485) and Receivables within one year (-€19,723)
- Deferred charges and accrued income -€2,694
no longer reported in 2025 (was €2,694)
- Tangible fixed assets +€2,521
up €2,521 (+240%), from €1,050 to €3,571
of which Plant, machinery and equipment: +€2,871
- Reserves +€36,066
up €36,066 (+27.3%), from €132,007 to €168,072
of which Distributable reserves: +€36,066
- Tax, wage and social debts +€7,263
up €7,263 (+59.4%), from €12,226 to €19,489
of which Taxes: +€9,263
- Trade debts -€7,058
down €7,058 (-31.7%), from €22,231 to €15,173
- Gross operating margin +€22,031
up €22,031 (+65.9%), from €33,416 to €55,447
- Taxes +€5,828
up €5,828 (+67.8%), from €8,602 to €14,430
- Staff costs +€1,380
up €1,380 (+215%), from €641 to €2,020
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
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 | €182,841 | €218,692 | +€35,851 | +19.6% |
| Fixed assets | 21/28 | €1,050 | €3,571 | +€2,521 | +240% |
| Tangible fixed assets | 22/27 | €1,050 | €3,571 | +€2,521 | +240% |
| Plant, machinery and equipment | 23 | - | €2,871 | +€2,871 | |
| Other tangible fixed assets | 26 | €1,050 | €700 | -€350 | -33.3% |
| Current assets | 29/58 | €181,791 | €215,121 | +€33,330 | +18.3% |
| Amounts receivable within one year | 40/41 | €31,630 | €51,353 | +€19,723 | +62.4% |
| Trade receivables | 40 | €31,630 | €38,930 | +€7,300 | +23.1% |
| Other amounts receivable | 41 | - | €12,423 | +€12,423 | |
| Current investments | 50/53 | €115,909 | €136,395 | +€20,485 | +17.7% |
| Cash at bank and in hand | 54/58 | €31,557 | €27,373 | -€4,184 | -13.3% |
| Deferred charges and accrued income | 490/1 | €2,694 | - | -€2,694 | |
| Total equity and liabilities | 10/49 | €182,841 | €218,692 | +€35,851 | +19.6% |
| Equity | 10/15 | €145,007 | €181,072 | +€36,066 | +24.9% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €132,007 | €168,072 | +€36,066 | +27.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,147 | €166,212 | +€36,066 | +27.7% |
| Amounts payable | 17/49 | €37,835 | €37,620 | -€215 | -0.6% |
| Amounts payable within one year | 42/48 | €37,415 | €37,620 | +€205 | +0.5% |
| Trade debts | 44 | €22,231 | €15,173 | -€7,058 | -31.7% |
| Suppliers | 440/4 | €22,231 | €15,173 | -€7,058 | -31.7% |
| Taxes, remuneration and social security | 45 | €12,226 | €19,489 | +€7,263 | +59.4% |
| Taxes | 450/3 | €10,226 | €19,489 | +€9,263 | +90.6% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €2,958 | €2,958 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €420 | - | -€420 | |
| Remuneration, social security and pensions | 62 | €641 | €2,020 | +€1,380 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350 | €473 | +€123 | +35.2% |
| Other operating charges | 640/8 | €3,102 | €2,739 | -€363 | -11.7% |
| Gross operating margin | 9900 | €33,416 | €55,447 | +€22,031 | +65.9% |
| Operating profit (loss) | 9901 | €29,323 | €50,214 | +€20,891 | +71.2% |
| Financial income | 75/76B | €591 | €693 | +€102 | +17.3% |
| Recurring financial income | 75 | €591 | €693 | +€102 | +17.3% |
| Financial charges | 65/66B | €271 | €412 | +€141 | +51.8% |
| Recurring financial charges | 65 | €271 | €412 | +€141 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €29,642 | €50,496 | +€20,853 | +70.3% |
| Income taxes | 67/77 | €8,602 | €14,430 | +€5,828 | +67.8% |
| Profit (loss) for the period | 9904 | €21,040 | €36,066 | +€15,025 | +71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,040 | €36,066 | +€15,025 | +71.4% |
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 17 October 2026 via checked.be.