ZENTREX: 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.
ZENTREX
Largest movements
- Tangible fixed assets -€9,205
down €9,205 (-34.9%), from €26,379 to €17,174
of which Furniture and vehicles: -€8,330
- Current investments +€4,433
new in 2025: €4,433
- Cash -€4,203
down €4,203 (-12.9%), from €32,687 to €28,485
mainly Debts after one year (-€6,976) and Current investments (-€4,433)
- Receivables within one year +€1,637
up €1,637 (+21.6%), from €7,580 to €9,217
of which Trade receivables: +€2,330
- Debts after one year -€6,976
down €6,976 (-49.9%), from €13,982 to €7,005
- Tax, wage and social debts -€2,616
down €2,616 (-20.8%), from €12,584 to €9,968
- Profit (loss) carried forward +€1,126
new in 2025: €1,126
- Trade debts +€1,052
up €1,052 (+49.2%), from €2,136 to €3,188
- Gross operating margin -€7,254
down €7,254 (-31.7%), from €22,897 to €15,643
- Other operating charges -€360
down €360 (-37.4%), from €963 to €603
- Taxes -€316
down €316 (-12.5%), from €2,530 to €2,214
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 | €67,752 | €60,458 | -€7,294 | -10.8% |
| Fixed assets | 21/28 | €26,379 | €17,174 | -€9,205 | -34.9% |
| Tangible fixed assets | 22/27 | €26,379 | €17,174 | -€9,205 | -34.9% |
| Plant, machinery and equipment | 23 | €1,616 | €741 | -€875 | -54.1% |
| Furniture and vehicles | 24 | €24,763 | €16,433 | -€8,330 | -33.6% |
| Current assets | 29/58 | €41,372 | €43,284 | +€1,912 | +4.6% |
| Amounts receivable within one year | 40/41 | €7,580 | €9,217 | +€1,637 | +21.6% |
| Trade receivables | 40 | €6,064 | €8,394 | +€2,330 | +38.4% |
| Other amounts receivable | 41 | €1,516 | €823 | -€693 | -45.7% |
| Current investments | 50/53 | - | €4,433 | +€4,433 | |
| Cash at bank and in hand | 54/58 | €32,687 | €28,485 | -€4,203 | -12.9% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,149 | +€44 | +4.0% |
| Total equity and liabilities | 10/49 | €67,752 | €60,458 | -€7,294 | -10.8% |
| Equity | 10/15 | €32,194 | €33,321 | +€1,126 | +3.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,194 | €29,194 | = | 0.0% |
| Distributable reserves | 133 | €29,194 | €29,194 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,126 | +€1,126 | |
| Amounts payable | 17/49 | €35,557 | €27,137 | -€8,420 | -23.7% |
| Amounts payable after more than one year | 17 | €13,982 | €7,005 | -€6,976 | -49.9% |
| Financial debts | 170/4 | €13,982 | €7,005 | -€6,976 | -49.9% |
| Amounts payable within one year | 42/48 | €21,576 | €20,132 | -€1,443 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €6,812 | €6,976 | +€165 | +2.4% |
| Financial debts | 43 | €44 | - | -€44 | |
| Credit institutions | 430/8 | €44 | - | -€44 | |
| Trade debts | 44 | €2,136 | €3,188 | +€1,052 | +49.2% |
| Suppliers | 440/4 | €2,136 | €3,188 | +€1,052 | +49.2% |
| Taxes, remuneration and social security | 45 | €12,584 | €9,968 | -€2,616 | -20.8% |
| Taxes | 450/3 | €12,584 | €9,968 | -€2,616 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,758 | €10,735 | -€23 | -0.2% |
| Other operating charges | 640/8 | €963 | €603 | -€360 | -37.4% |
| Gross operating margin | 9900 | €22,897 | €15,643 | -€7,254 | -31.7% |
| Operating profit (loss) | 9901 | €11,176 | €4,305 | -€6,871 | -61.5% |
| Financial income | 75/76B | €239 | €214 | -€25 | -10.4% |
| Recurring financial income | 75 | €239 | €214 | -€25 | -10.4% |
| Financial charges | 65/66B | €1,393 | €1,179 | -€213 | -15.3% |
| Recurring financial charges | 65 | €1,393 | €1,179 | -€213 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €10,022 | €3,340 | -€6,682 | -66.7% |
| Income taxes | 67/77 | €2,530 | €2,214 | -€316 | -12.5% |
| Profit (loss) for the period | 9904 | €7,492 | €1,126 | -€6,366 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,492 | €1,126 | -€6,366 | -85.0% |
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 13 October 2026 via checked.be.