Zephyros: 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.
Zephyros
Largest movements
- Receivables within one year +€46,233
up €46,233 (+38.9%), from €118,883 to €165,116
- Tangible fixed assets +€6,382
up €6,382 (+6.2%), from €102,501 to €108,883
of which Furniture and vehicles: +€3,969
- Profit (loss) carried forward +€74,192
new in 2025: €74,192
- Tax, wage and social debts -€15,509
down €15,509 (-22.9%), from €67,806 to €52,297
- Trade debts -€4,491
down €4,491 (-83.4%), from €5,387 to €896
- Gross operating margin +€36,583
up €36,583 (+24.8%), from €147,553 to €184,136
- Taxes -€28,374
down €28,374 (-53.9%), from €52,615 to €24,241
- Financial income +€2,413
up €2,413 (+38.5%), from €6,275 to €8,687
- Depreciation -€1,910
down €1,910 (-4.1%), from €47,112 to €45,202
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 | €232,357 | €286,814 | +€54,457 | +23.4% |
| Fixed assets | 21/28 | €102,501 | €108,883 | +€6,382 | +6.2% |
| Tangible fixed assets | 22/27 | €102,501 | €108,883 | +€6,382 | +6.2% |
| Plant, machinery and equipment | 23 | €93,093 | €95,506 | +€2,413 | +2.6% |
| Furniture and vehicles | 24 | €9,408 | €13,377 | +€3,969 | +42.2% |
| Current assets | 29/58 | €129,856 | €177,931 | +€48,075 | +37.0% |
| Amounts receivable within one year | 40/41 | €118,883 | €165,116 | +€46,233 | +38.9% |
| Other amounts receivable | 41 | €118,883 | €165,116 | +€46,233 | +38.9% |
| Cash at bank and in hand | 54/58 | €10,974 | €12,815 | +€1,842 | +16.8% |
| Total equity and liabilities | 10/49 | €232,357 | €286,814 | +€54,457 | +23.4% |
| Equity | 10/15 | €103,420 | €177,612 | +€74,192 | +71.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,020 | €91,020 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €70,410 | €70,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €74,192 | +€74,192 | |
| Amounts payable | 17/49 | €128,937 | €109,202 | -€19,735 | -15.3% |
| Amounts payable within one year | 42/48 | €118,193 | €98,193 | -€20,001 | -16.9% |
| Trade debts | 44 | €5,387 | €896 | -€4,491 | -83.4% |
| Suppliers | 440/4 | €5,387 | €896 | -€4,491 | -83.4% |
| Taxes, remuneration and social security | 45 | €67,806 | €52,297 | -€15,509 | -22.9% |
| Taxes | 450/3 | €67,806 | €52,297 | -€15,509 | -22.9% |
| Other amounts payable | 47/48 | €45,000 | €45,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,743 | €11,010 | +€266 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,112 | €45,202 | -€1,910 | -4.1% |
| Other operating charges | 640/8 | €2,563 | €3,182 | +€619 | +24.1% |
| Gross operating margin | 9900 | €147,553 | €184,136 | +€36,583 | +24.8% |
| Operating profit (loss) | 9901 | €97,877 | €135,752 | +€37,875 | +38.7% |
| Financial income | 75/76B | €6,275 | €8,687 | +€2,413 | +38.5% |
| Recurring financial income | 75 | €6,275 | €8,687 | +€2,413 | +38.5% |
| Financial charges | 65/66B | €628 | €1,007 | +€379 | +60.4% |
| Recurring financial charges | 65 | €628 | €1,007 | +€379 | +60.4% |
| Profit (loss) for the period before taxes | 9903 | €103,524 | €143,433 | +€39,908 | +38.5% |
| Income taxes | 67/77 | €52,615 | €24,241 | -€28,374 | -53.9% |
| Profit (loss) for the period | 9904 | €50,910 | €119,192 | +€68,282 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €50,910 | €119,192 | +€68,282 | +134% |
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 16 October 2026 via checked.be.