ZENZERA: 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.
ZENZERA
Largest movements
- Cash +€46,269
up €46,269 (+225%), from €20,523 to €66,792
mainly Net result for the year (+€44,808) and Tax, wage and social debts (+€8,213)
- Receivables within one year +€3,406
up €3,406 (+23.9%), from €14,254 to €17,660
- Tangible fixed assets +€1,384
up €1,384 (+37.2%), from €3,719 to €5,103
- Reserves +€44,808
up €44,808 (+217%), from €20,661 to €65,469
- Tax, wage and social debts +€8,213
up €8,213 (+70.7%), from €11,617 to €19,829
- Trade debts -€2,674
down €2,674 (-51.4%), from €5,198 to €2,523
- Gross operating margin +€33,727
up €33,727 (+125%), from €27,041 to €60,768
- Taxes +€7,147
up €7,147 (+133%), from €5,361 to €12,507
- Depreciation +€1,434
up €1,434 (+101,711%), from €1 to €1,436
- Financial charges +€1,313
up €1,313 (+222%), from €591 to €1,904
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 | €39,980 | €90,773 | +€50,792 | +127% |
| Fixed assets | 21/28 | €3,719 | €5,103 | +€1,384 | +37.2% |
| Tangible fixed assets | 22/27 | €3,719 | €5,103 | +€1,384 | +37.2% |
| Furniture and vehicles | 24 | €3,719 | €5,103 | +€1,384 | +37.2% |
| Current assets | 29/58 | €36,261 | €85,669 | +€49,408 | +136% |
| Amounts receivable within one year | 40/41 | €14,254 | €17,660 | +€3,406 | +23.9% |
| Trade receivables | 40 | €14,254 | €17,660 | +€3,406 | +23.9% |
| Cash at bank and in hand | 54/58 | €20,523 | €66,792 | +€46,269 | +225% |
| Deferred charges and accrued income | 490/1 | €1,485 | €1,217 | -€267 | -18.0% |
| Total equity and liabilities | 10/49 | €39,980 | €90,773 | +€50,792 | +127% |
| Equity | 10/15 | €23,161 | €67,969 | +€44,808 | +193% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,661 | €65,469 | +€44,808 | +217% |
| Distributable reserves | 133 | €20,661 | €65,469 | +€44,808 | +217% |
| Amounts payable | 17/49 | €16,819 | €22,804 | +€5,984 | +35.6% |
| Amounts payable within one year | 42/48 | €16,819 | €22,804 | +€5,984 | +35.6% |
| Trade debts | 44 | €5,198 | €2,523 | -€2,674 | -51.4% |
| Suppliers | 440/4 | €5,198 | €2,523 | -€2,674 | -51.4% |
| Taxes, remuneration and social security | 45 | €11,617 | €19,829 | +€8,213 | +70.7% |
| Taxes | 450/3 | €11,617 | €19,829 | +€8,213 | +70.7% |
| Other amounts payable | 47/48 | €5 | €451 | +€446 | +8,724% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €1,436 | +€1,434 | +101,711% |
| Other operating charges | 640/8 | €427 | €116 | -€311 | -72.9% |
| Gross operating margin | 9900 | €27,041 | €60,768 | +€33,727 | +125% |
| Operating profit (loss) | 9901 | €26,612 | €59,217 | +€32,604 | +123% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €591 | €1,904 | +€1,313 | +222% |
| Recurring financial charges | 65 | €591 | €1,904 | +€1,313 | +222% |
| Profit (loss) for the period before taxes | 9903 | €26,022 | €57,316 | +€31,294 | +120% |
| Income taxes | 67/77 | €5,361 | €12,507 | +€7,147 | +133% |
| Profit (loss) for the period | 9904 | €20,661 | €44,808 | +€24,147 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €20,661 | €44,808 | +€24,147 | +117% |
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.