ZEPHYR - FIN: 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.
ZEPHYR - FIN
Largest movements
- Cash +€97,523
up €97,523 (+80.0%), from €121,963 to €219,486
mainly Contributions, distributions and other (+€250,000) and Trade debts (+€1,845)
- Contributions +€250,000
up €250,000 (+10.8%), from €2.3m to €2.6m
- Profit (loss) carried forward -€154,950
down €154,950 (-7.0%), from -€2.2m to -€2.4m
- Gross operating margin -€111,294
down €111,294 (-255%), from -€43,656 to -€154,950
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 | €121,963 | €220,044 | +€98,080 | +80.4% |
| Current assets | 29/58 | €121,963 | €220,044 | +€98,080 | +80.4% |
| Amounts receivable within one year | 40/41 | - | €558 | +€558 | |
| Trade receivables | 40 | - | €558 | +€558 | |
| Cash at bank and in hand | 54/58 | €121,963 | €219,486 | +€97,523 | +80.0% |
| Total equity and liabilities | 10/49 | €121,963 | €220,044 | +€98,080 | +80.4% |
| Equity | 10/15 | €102,550 | €197,600 | +€95,050 | +92.7% |
| Contributions | 10/11 | €2,313,139 | €2,563,139 | +€250,000 | +10.8% |
| Capital | 10 | €2,313,139 | €2,563,139 | +€250,000 | +10.8% |
| Issued capital | 100 | €2,313,139 | €2,563,139 | +€250,000 | +10.8% |
| Profit (loss) carried forward | 14 | -€2,210,588 | -€2,365,539 | -€154,950 | -7.0% |
| Amounts payable | 17/49 | €19,413 | €22,444 | +€3,031 | +15.6% |
| Amounts payable within one year | 42/48 | €19,413 | €21,258 | +€1,845 | +9.5% |
| Trade debts | 44 | €19,413 | €21,258 | +€1,845 | +9.5% |
| Suppliers | 440/4 | €19,413 | €21,258 | +€1,845 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €1,186 | +€1,186 | |
| Gross operating margin | 9900 | -€43,656 | -€154,950 | -€111,294 | -255% |
| Operating profit (loss) | 9901 | -€43,656 | -€154,950 | -€111,294 | -255% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | -€43,656 | -€154,950 | -€111,294 | -255% |
| Profit (loss) for the period | 9904 | -€43,656 | -€154,950 | -€111,294 | -255% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,656 | -€154,950 | -€111,294 | -255% |
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 20 October 2026 via checked.be.