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
- Tangible fixed assets -€11,512
down €11,512 (-33.4%), from €34,511 to €22,999
of which Furniture and vehicles: -€10,712
- Cash +€10,405
up €10,405 (+36.8%), from €28,268 to €38,672
mainly Depreciation (+€11,512) and Net result for the year (+€11,036)
- Receivables within one year -€8,081
down €8,081 (-41.6%), from €19,445 to €11,364
of which Trade receivables: -€8,627
- Financial fixed assets +€5,667
up €5,667 (+17.5%), from €32,327 to €37,994
- Current investments +€2,250
up €2,250 (+7.7%), from €29,250 to €31,500
- Other debts -€15,604
down €15,604 (-40.2%), from €38,774 to €23,170
- Reserves +€9,370
up €9,370 (+10.0%), from €93,268 to €102,638
- Tax, wage and social debts +€5,889
up €5,889 (+223.6%), from €2,633 to €8,522
of which Taxes: +€5,889
- Gross operating margin -€2,470
down €2,470 (-7.8%), from €31,583 to €29,113
- Taxes -€717
down €717 (-13.3%), from €5,400 to €4,683
- Financial charges +€629
up €629 (+53.7%), from €1,170 to €1,799
- Depreciation -€544
down €544 (-4.5%), from €12,056 to €11,512
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 | €144,059 | €142,856 | -€1,203 | -0.8% |
| Fixed assets | 21/28 | €66,838 | €60,993 | -€5,845 | -8.7% |
| Tangible fixed assets | 22/27 | €34,511 | €22,999 | -€11,512 | -33.4% |
| Plant, machinery and equipment | 23 | €117 | €0 | -€117 | -100.0% |
| Furniture and vehicles | 24 | €33,712 | €22,999 | -€10,712 | -31.8% |
| Other tangible fixed assets | 26 | €683 | €0 | -€683 | -100.0% |
| Financial fixed assets | 28 | €32,327 | €37,994 | +€5,667 | +17.5% |
| Current assets | 29/58 | €77,220 | €81,863 | +€4,642 | +6.0% |
| Amounts receivable within one year | 40/41 | €19,445 | €11,364 | -€8,081 | -41.6% |
| Trade receivables | 40 | €18,700 | €10,073 | -€8,627 | -46.1% |
| Other amounts receivable | 41 | €745 | €1,291 | +€546 | +73.3% |
| Current investments | 50/53 | €29,250 | €31,500 | +€2,250 | +7.7% |
| Cash at bank and in hand | 54/58 | €28,268 | €38,672 | +€10,405 | +36.8% |
| Deferred charges and accrued income | 490/1 | €258 | €326 | +€68 | +26.5% |
| Total equity and liabilities | 10/49 | €144,059 | €142,856 | -€1,203 | -0.8% |
| Equity | 10/15 | €99,468 | €108,838 | +€9,370 | +9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,268 | €102,638 | +€9,370 | +10.0% |
| Distributable reserves | 133 | €93,268 | €102,638 | +€9,370 | +10.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,591 | €34,017 | -€10,573 | -23.7% |
| Amounts payable within one year | 42/48 | €42,291 | €32,041 | -€10,251 | -24.2% |
| Trade debts | 44 | €885 | €349 | -€536 | -60.6% |
| Suppliers | 440/4 | €885 | €349 | -€536 | -60.6% |
| Taxes, remuneration and social security | 45 | €2,633 | €8,522 | +€5,889 | +223.6% |
| Taxes | 450/3 | €2,633 | €8,522 | +€5,889 | +223.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €38,774 | €23,170 | -€15,604 | -40.2% |
| Accrued charges and deferred income | 492/3 | €2,299 | €1,977 | -€322 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,056 | €11,512 | -€544 | -4.5% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €31,583 | €29,113 | -€2,470 | -7.8% |
| Operating profit (loss) | 9901 | €19,022 | €17,081 | -€1,941 | -10.2% |
| Financial income | 75/76B | €606 | €437 | -€169 | -27.9% |
| Recurring financial income | 75 | €606 | €437 | -€169 | -27.9% |
| Financial charges | 65/66B | €1,170 | €1,799 | +€629 | +53.7% |
| Recurring financial charges | 65 | €1,170 | €1,799 | +€629 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €18,458 | €15,719 | -€2,738 | -14.8% |
| Income taxes | 67/77 | €5,400 | €4,683 | -€717 | -13.3% |
| Profit (loss) for the period | 9904 | €13,057 | €11,036 | -€2,021 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,057 | €11,036 | -€2,021 | -15.5% |
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 8 October 2026 via checked.be.