ZENTECH: 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.
What changed
ZENTECH
NACE 20.590, Manufacture of chemicals and chemical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€85,760
2024 · -€185,867+€271,627
Equity
-€247,273
2024 · -€329,121+€81,847
Cash
€104,138
2024 · €283,920-€179,783
Balance sheet total
€2.3m
2024 · €1.6m+€720,705
Largest movements
Assets
- Receivables within one year +€948,272
up €948,272 (+85.1%), from €1.1m to €2.1m
of which Trade receivables: +€1.1m
- Cash -€179,783
down €179,783 (-63.3%), from €283,920 to €104,138
mainly Receivables within one year (-€948,272) and Tax, wage and social debts (-€50,527)
- Tangible fixed assets -€42,041
down €42,041 (-23.5%), from €178,967 to €136,926
of which Leasing and similar rights: -€55,010
Equity and liabilities
- Trade debts +€692,528
up €692,528 (+333%), from €208,182 to €900,710
- Profit (loss) carried forward +€85,760
up €85,760 (+3.0%), from -€2.9m to -€2.8m
- Tax, wage and social debts -€50,527
no longer reported in 2025 (was €50,527)
of which Taxes: -€50,527
- Current portion of long-term debt -€25,020
no longer reported in 2025 (was €25,020)
Income statement
- Turnover +€2.2m
new in 2025: €2.2m
- Goods and materials +€2.2m
new in 2025: €2.2m
- Other operating income +€349,805
new in 2025: €349,805
- Services and other goods +€100,756
new in 2025: €100,756
- Gross operating margin -€25,954
no longer reported in 2025 (was €25,954)
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.
Result 2024
-€185,867
Turnover
+€2.2m
Other operating income
+€349,805
Goods and materials
-€2.2m
Services and other goods
-€100,756
Staff costs
-€9,014
Depreciation
+€11,131
Write-downs
-€6,620
Other operating charges
+€6,338
Other operating items
-€25,954
Financial income
-€1,430
Financial charges
+€18,879
Taxes
-€943
Result 2025
€85,760
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€144,275
Investment
-€6,575
Financing
-€28,932
Cash 2024
€283,920
From operations (derived)
-€144,275
Net result for the year
+€85,760
Depreciation
+€54,455
Receivables within one year
-€948,272
Deferred charges and accrued income
-€96
Trade debts
+€692,528
Tax, wage and social debts
-€50,527
Advances received
+€5,474
Other debts
+€10,930
Accrued charges and deferred income
+€5,472
Investment (derived)
-€6,575
Investment in fixed assets (net)
-€6,575
Financing
-€28,932
Current portion of long-term debt
-€25,020
Contributions, distributions and other
-€3,913
Cash 2025
€104,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,603,976 | €2,324,682 | +€720,705 | +44.9% |
| Fixed assets | 21/28 | €198,100 | €150,221 | -€47,880 | -24.2% |
| Intangible fixed assets | 21 | €9,434 | €3,795 | -€5,639 | -59.8% |
| Tangible fixed assets | 22/27 | €178,967 | €136,926 | -€42,041 | -23.5% |
| Land and buildings | 22 | €107,461 | €98,426 | -€9,035 | -8.4% |
| Plant, machinery and equipment | 23 | €13,304 | €38,164 | +€24,861 | +187% |
| Furniture and vehicles | 24 | €3,191 | €336 | -€2,856 | -89.5% |
| Leasing and similar rights | 25 | €55,010 | - | -€55,010 | |
| Financial fixed assets | 28 | €9,700 | €9,500 | -€200 | -2.1% |
| Other financial fixed assets | 284/8 | - | €9,500 | +€9,500 | |
| Amounts receivable and cash guarantees | 285/8 | - | €9,500 | +€9,500 | |
| Current assets | 29/58 | €1,405,876 | €2,174,461 | +€768,585 | +54.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,114,841 | €2,063,113 | +€948,272 | +85.1% |
| Trade receivables | 40 | €867,911 | €1,947,953 | +€1.1m | +124% |
| Other amounts receivable | 41 | €246,930 | €115,160 | -€131,770 | -53.4% |
| Cash at bank and in hand | 54/58 | €283,920 | €104,138 | -€179,783 | -63.3% |
| Deferred charges and accrued income | 490/1 | €7,114 | €7,210 | +€96 | +1.3% |
| Total equity and liabilities | 10/49 | €1,603,976 | €2,324,682 | +€720,705 | +44.9% |
| Equity | 10/15 | -€329,121 | -€247,273 | +€81,847 | +24.9% |
| Contributions | 10/11 | €2,469,263 | €2,469,263 | = | 0.0% |
| Capital | 10 | €2,469,263 | €2,469,263 | = | 0.0% |
| Issued capital | 100 | €2,469,263 | €2,469,263 | = | 0.0% |
| Reserves | 13 | €53,971 | €53,971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €53,524 | €53,524 | = | 0.0% |
| Legal reserve | 130 | €53,524 | €53,524 | = | 0.0% |
| Tax-exempt reserves | 132 | €446 | €446 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,857,232 | -€2,771,472 | +€85,760 | +3.0% |
| Investment grants | 15 | €4,878 | €965 | -€3,913 | -80.2% |
| Amounts payable | 17/49 | €1,933,097 | €2,571,955 | +€638,858 | +33.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,908,865 | €2,542,251 | +€633,386 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €25,020 | - | -€25,020 | |
| Financial debts | 43 | €1,625,000 | €1,625,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,625,000 | €1,625,000 | = | 0.0% |
| Trade debts | 44 | €208,182 | €900,710 | +€692,528 | +333% |
| Suppliers | 440/4 | €208,182 | €900,710 | +€692,528 | +333% |
| Advances received on contracts in progress | 46 | - | €5,474 | +€5,474 | |
| Taxes, remuneration and social security | 45 | €50,527 | - | -€50,527 | |
| Taxes | 450/3 | €50,527 | - | -€50,527 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €137 | €11,067 | +€10,930 | +7,999% |
| Accrued charges and deferred income | 492/3 | €24,232 | €29,704 | +€5,472 | +22.6% |
| Operating income | 70/76A | - | €2,565,961 | +€2.6m | |
| Turnover | 70 | - | €2,216,157 | +€2.2m | |
| Other operating income | 74 | - | €349,805 | +€349,805 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | - | €2,409,402 | +€2.4m | |
| Goods for resale, raw materials and consumables | 60 | - | €2,185,966 | +€2.2m | |
| Purchases | 600/8 | - | €2,185,966 | +€2.2m | |
| Services and other goods | 61 | - | €100,756 | +€100,756 | |
| Remuneration, social security and pensions | 62 | -€8,945 | €69 | +€9,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,586 | €54,455 | -€11,131 | -17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,620 | +€6,620 | |
| Other operating charges | 640/8 | €67,875 | €61,537 | -€6,338 | -9.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €25,954 | - | -€25,954 | |
| Operating profit (loss) | 9901 | -€98,561 | €156,559 | +€255,121 | |
| Financial income | 75/76B | €5,625 | €4,196 | -€1,430 | -25.4% |
| Recurring financial income | 75 | €5,625 | €4,196 | -€1,430 | -25.4% |
| Other financial income | 752/9 | - | €4,196 | +€4,196 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €93,874 | €74,995 | -€18,879 | -20.1% |
| Recurring financial charges | 65 | €93,874 | €74,995 | -€18,879 | -20.1% |
| Debt charges | 650 | - | €68,333 | +€68,333 | |
| Other financial charges | 652/9 | - | €6,661 | +€6,661 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€186,810 | €85,760 | +€272,570 | |
| Income taxes | 67/77 | -€943 | - | +€943 | |
| Profit (loss) for the period | 9904 | -€185,867 | €85,760 | +€271,627 | |
| Profit (loss) for the period to be appropriated | 9905 | -€185,867 | €85,760 | +€271,627 |
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 15 October 2026 via checked.be.