ZEPPOS: 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.
ZEPPOS
Largest movements
- Deferred charges and accrued income -€3,188
down €3,188 (-68.3%), from €4,668 to €1,480
- Tangible fixed assets -€3,130
down €3,130 (-9.2%), from €34,126 to €30,996
of which Land and buildings: -€5,735
- Other debts -€29,969
down €29,969 (-42.7%), from €70,216 to €40,247
- Profit (loss) carried forward +€23,881
no longer reported in 2025 (was -€23,881)
- Tax, wage and social debts -€3,167
down €3,167 (-93.1%), from €3,403 to €236
- Gross operating margin +€34,315
up €34,315 (+284.8%), from €12,051 to €46,365
- Financial charges +€8,198
up €8,198 (+1994.1%), from €411 to €8,610
- Depreciation +€880
up €880 (+10.0%), from €8,766 to €9,646
- Financial income +€466
up €466 (+867.5%), from €54 to €519
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.
Cash bridge derived
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 | €298,249 | €290,404 | -€7,845 | -2.6% |
| Fixed assets | 21/28 | €34,164 | €31,033 | -€3,130 | -9.2% |
| Tangible fixed assets | 22/27 | €34,126 | €30,996 | -€3,130 | -9.2% |
| Land and buildings | 22 | €28,978 | €23,243 | -€5,735 | -19.8% |
| Plant, machinery and equipment | 23 | €5,148 | €7,753 | +€2,605 | +50.6% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €264,085 | €259,371 | -€4,714 | -1.8% |
| Amounts receivable within one year | 40/41 | €4,124 | €4,513 | +€389 | +9.4% |
| Trade receivables | 40 | €4,124 | €4,505 | +€381 | +9.2% |
| Other amounts receivable | 41 | - | €8 | +€8 | |
| Current investments | 50/53 | €19,459 | €19,000 | -€459 | -2.4% |
| Cash at bank and in hand | 54/58 | €235,834 | €234,377 | -€1,457 | -0.6% |
| Deferred charges and accrued income | 490/1 | €4,668 | €1,480 | -€3,188 | -68.3% |
| Total equity and liabilities | 10/49 | €298,249 | €290,404 | -€7,845 | -2.6% |
| Equity | 10/15 | €219,153 | €245,757 | +€26,604 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224,434 | €227,157 | +€2,723 | +1.2% |
| Distributable reserves | 133 | €224,434 | €227,157 | +€2,723 | +1.2% |
| Profit (loss) carried forward | 14 | -€23,881 | - | +€23,881 | |
| Amounts payable | 17/49 | €79,096 | €44,647 | -€34,449 | -43.6% |
| Amounts payable within one year | 42/48 | €79,096 | €44,647 | -€34,449 | -43.6% |
| Trade debts | 44 | €5,477 | €3,680 | -€1,797 | -32.8% |
| Suppliers | 440/4 | €5,477 | €3,680 | -€1,797 | -32.8% |
| Advances received on contracts in progress | 46 | - | €484 | +€484 | |
| Taxes, remuneration and social security | 45 | €3,403 | €236 | -€3,167 | -93.1% |
| Taxes | 450/3 | €3,403 | €236 | -€3,167 | -93.1% |
| Other amounts payable | 47/48 | €70,216 | €40,247 | -€29,969 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,766 | €9,646 | +€880 | +10.0% |
| Other operating charges | 640/8 | €1,692 | €1,746 | +€55 | +3.2% |
| Gross operating margin | 9900 | €12,051 | €46,365 | +€34,315 | +284.8% |
| Operating profit (loss) | 9901 | €1,593 | €34,973 | +€33,380 | +2095.0% |
| Financial income | 75/76B | €54 | €519 | +€466 | +867.5% |
| Recurring financial income | 75 | €54 | €519 | +€466 | +867.5% |
| Financial charges | 65/66B | €411 | €8,610 | +€8,198 | +1994.1% |
| Recurring financial charges | 65 | €411 | €8,610 | +€8,198 | +1994.1% |
| Profit (loss) for the period before taxes | 9903 | €1,236 | €26,883 | +€25,647 | +2075.2% |
| Income taxes | 67/77 | €370 | €279 | -€91 | -24.6% |
| Profit (loss) for the period | 9904 | €866 | €26,604 | +€25,738 | +2973.3% |
| Profit (loss) for the period to be appropriated | 9905 | €866 | €26,604 | +€25,738 | +2973.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.