ZENY: 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.
ZENY
Largest movements
- Tangible fixed assets +€46,285
up €46,285 (+15.4%), from €300,790 to €347,075
of which Assets under construction and advance payments: +€23,550
- Cash -€34,180
down €34,180 (-22.0%), from €155,384 to €121,204
mainly Investment in fixed assets (net) (-€75,368) and Debts after one year (-€44,286)
- Receivables within one year +€31,645
up €31,645 (+92.3%), from €34,302 to €65,947
- Trade debts +€67,076
up €67,076 (+432.5%), from €15,508 to €82,584
- Debts after one year -€44,286
down €44,286 (-16.7%), from €265,714 to €221,429
- Current portion of long-term debt +€11,071
up €11,071 (+25.0%), from €44,286 to €55,357
- Profit (loss) carried forward +€8,274
up €8,274 (+14.0%), from €59,197 to €67,471
- Financial income -€39,996
down €39,996 (-100.0%), from €40,000 to €4
of which Non-recurring financial income: -€40,000
- Depreciation +€13,089
up €13,089 (+80.7%), from €16,227 to €29,316
- Gross operating margin +€2,586
up €2,586 (+5.4%), from €48,019 to €50,605
- Financial charges +€1,653
up €1,653 (+15.8%), from €10,494 to €12,147
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €491,047 | €534,564 | +€43,517 | +8.9% |
| Formation expenses | 20 | €571 | €338 | -€233 | -40.8% |
| Fixed assets | 21/28 | €300,790 | €347,075 | +€46,285 | +15.4% |
| Tangible fixed assets | 22/27 | €300,790 | €347,075 | +€46,285 | +15.4% |
| Land and buildings | 22 | €275,292 | €298,027 | +€22,735 | +8.3% |
| Assets under construction and advance payments | 27 | €25,498 | €49,048 | +€23,550 | +92.4% |
| Current assets | 29/58 | €189,686 | €187,151 | -€2,535 | -1.3% |
| Amounts receivable within one year | 40/41 | €34,302 | €65,947 | +€31,645 | +92.3% |
| Trade receivables | 40 | €34,302 | €65,947 | +€31,645 | +92.3% |
| Cash at bank and in hand | 54/58 | €155,384 | €121,204 | -€34,180 | -22.0% |
| Total equity and liabilities | 10/49 | €491,047 | €534,564 | +€43,517 | +8.9% |
| Equity | 10/15 | €159,197 | €167,471 | +€8,274 | +5.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,197 | €67,471 | +€8,274 | +14.0% |
| Amounts payable | 17/49 | €331,850 | €367,093 | +€35,243 | +10.6% |
| Amounts payable after more than one year | 17 | €265,714 | €221,429 | -€44,286 | -16.7% |
| Financial debts | 170/4 | €265,714 | €221,429 | -€44,286 | -16.7% |
| Amounts payable within one year | 42/48 | €62,922 | €142,794 | +€79,873 | +126.9% |
| Current portion of amounts payable after more than one year | 42 | €44,286 | €55,357 | +€11,071 | +25.0% |
| Trade debts | 44 | €15,508 | €82,584 | +€67,076 | +432.5% |
| Suppliers | 440/4 | €15,508 | €82,584 | +€67,076 | +432.5% |
| Taxes, remuneration and social security | 45 | €3,128 | €4,854 | +€1,726 | +55.2% |
| Taxes | 450/3 | €3,128 | €4,854 | +€1,726 | +55.2% |
| Accrued charges and deferred income | 492/3 | €3,215 | €2,870 | -€344 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,227 | €29,316 | +€13,089 | +80.7% |
| Other operating charges | 640/8 | €799 | €525 | -€274 | -34.3% |
| Gross operating margin | 9900 | €48,019 | €50,605 | +€2,586 | +5.4% |
| Operating profit (loss) | 9901 | €30,993 | €20,764 | -€10,229 | -33.0% |
| Financial income | 75/76B | €40,000 | €4 | -€39,996 | -100.0% |
| Recurring financial income | 75 | €40,000 | €4 | -€39,996 | -100.0% |
| Non-recurring financial income | 76B | €40,000 | - | -€40,000 | |
| Financial charges | 65/66B | €10,494 | €12,147 | +€1,653 | +15.8% |
| Recurring financial charges | 65 | €10,494 | €12,147 | +€1,653 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €60,500 | €8,621 | -€51,878 | -85.7% |
| Income taxes | 67/77 | - | €347 | +€347 | |
| Profit (loss) for the period | 9904 | €60,500 | €8,274 | -€52,225 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,500 | €8,274 | -€52,225 | -86.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.