ZENOX: 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.
ZENOX
Largest movements
- Cash -€136,894
down €136,894 (-62.0%), from €220,913 to €84,020
mainly Net result for the year (-€149,729) and Receivables within one year (-€89,313)
- Receivables after one year -€108,068
down €108,068 (-86.5%), from €125,000 to €16,932
- Receivables within one year +€89,313
up €89,313 (+148.6%), from €60,089 to €149,403
of which Trade receivables: +€83,778
- Deferred charges and accrued income -€29,317
down €29,317 (-98.7%), from €29,691 to €373
- Profit (loss) carried forward -€152,068
down €152,068 (-78.2%), from €194,441 to €42,373
- Tax, wage and social debts -€31,233
down €31,233 (-57.9%), from €53,947 to €22,715
of which Taxes: -€30,467
- Gross operating margin -€100,936
down €100,936, from €2,239 to -€98,697
- Provisions +€59,721
no longer reported in 2025 (was -€59,721)
- Financial charges -€44,263
down €44,263 (-50.2%), from €88,176 to €43,913
- Staff costs -€7,271
down €7,271 (-98.2%), from €7,401 to €130
- Depreciation -€2,635
down €2,635 (-24.9%), from €10,588 to €7,952
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 | €620,914 | €435,754 | -€185,161 | -29.8% |
| Fixed assets | 21/28 | €185,221 | €185,026 | -€195 | -0.1% |
| Tangible fixed assets | 22/27 | €98,436 | €98,241 | -€195 | -0.2% |
| Land and buildings | 22 | €91,500 | €87,000 | -€4,500 | -4.9% |
| Furniture and vehicles | 24 | €6,936 | €11,241 | +€4,305 | +62.1% |
| Financial fixed assets | 28 | €86,785 | €86,785 | = | 0.0% |
| Current assets | 29/58 | €435,693 | €250,727 | -€184,966 | -42.5% |
| Amounts receivable after more than one year | 29 | €125,000 | €16,932 | -€108,068 | -86.5% |
| Other amounts receivable | 291 | €125,000 | €16,932 | -€108,068 | -86.5% |
| Amounts receivable within one year | 40/41 | €60,089 | €149,403 | +€89,313 | +148.6% |
| Trade receivables | 40 | €40,979 | €124,757 | +€83,778 | +204.4% |
| Other amounts receivable | 41 | €19,110 | €24,646 | +€5,536 | +29.0% |
| Cash at bank and in hand | 54/58 | €220,913 | €84,020 | -€136,894 | -62.0% |
| Deferred charges and accrued income | 490/1 | €29,691 | €373 | -€29,317 | -98.7% |
| Total equity and liabilities | 10/49 | €620,914 | €435,754 | -€185,161 | -29.8% |
| Equity | 10/15 | €564,426 | €412,358 | -€152,068 | -26.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €307,985 | €307,985 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €86,785 | €86,785 | = | 0.0% |
| Distributable reserves | 133 | €215,000 | €215,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,441 | €42,373 | -€152,068 | -78.2% |
| Amounts payable | 17/49 | €56,489 | €23,396 | -€33,093 | -58.6% |
| Amounts payable within one year | 42/48 | €56,489 | €23,396 | -€33,093 | -58.6% |
| Trade debts | 44 | €1,442 | - | -€1,442 | |
| Suppliers | 440/4 | €1,442 | - | -€1,442 | |
| Taxes, remuneration and social security | 45 | €53,947 | €22,715 | -€31,233 | -57.9% |
| Taxes | 450/3 | €53,181 | €22,715 | -€30,467 | -57.3% |
| Remuneration and social security | 454/9 | €766 | - | -€766 | |
| Other amounts payable | 47/48 | €1,100 | €681 | -€418 | -38.0% |
| Remuneration, social security and pensions | 62 | €7,401 | €130 | -€7,271 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,588 | €7,952 | -€2,635 | -24.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€59,721 | - | +€59,721 | |
| Other operating charges | 640/8 | - | €147 | +€147 | |
| Gross operating margin | 9900 | €2,239 | -€98,697 | -€100,936 | |
| Operating profit (loss) | 9901 | €43,971 | -€106,926 | -€150,897 | |
| Financial income | 75/76B | €486 | €1,110 | +€624 | +128.5% |
| Recurring financial income | 75 | €486 | €1,110 | +€624 | +128.5% |
| Financial charges | 65/66B | €88,176 | €43,913 | -€44,263 | -50.2% |
| Recurring financial charges | 65 | €88,176 | €43,913 | -€44,263 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | -€43,719 | -€149,729 | -€106,010 | -242.5% |
| Profit (loss) for the period | 9904 | -€43,719 | -€149,729 | -€106,010 | -242.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,719 | -€149,729 | -€106,010 | -242.5% |
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 1 October 2026 via checked.be.