ZERO DEUX: 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.
ZERO DEUX
Largest movements
- Receivables within one year -€27,541
down €27,541 (-23.1%), from €119,378 to €91,838
of which Trade receivables: -€13,960
- Tangible fixed assets +€15,703
up €15,703 (+109.9%), from €14,289 to €29,991
of which Furniture and vehicles: +€14,826
- Debts after one year -€119,824
down €119,824 (-17.6%), from €680,253 to €560,429
- Short-term financial debts +€115,523
up €115,523 (+414.7%), from €27,854 to €143,378
- Reserves -€42,593
down €42,593 (-25.2%), from €168,757 to €126,164
- Tax, wage and social debts +€32,539
up €32,539 (+8176.2%), from €398 to €32,937
- Other debts -€14,593
down €14,593 (-7.5%), from €195,308 to €180,716
- Gross operating margin -€40,783
down €40,783 (-71.5%), from €57,058 to €16,275
- Financial charges +€10,205
up €10,205 (+27.1%), from €37,725 to €47,930
- Other operating charges +€1,998
up €1,998 (+411.9%), from €485 to €2,483
- Depreciation -€1,501
down €1,501 (-15.3%), from €9,780 to €8,279
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 | €1,219,311 | €1,199,029 | -€20,282 | -1.7% |
| Fixed assets | 21/28 | €1,082,289 | €1,097,991 | +€15,703 | +1.5% |
| Tangible fixed assets | 22/27 | €14,289 | €29,991 | +€15,703 | +109.9% |
| Furniture and vehicles | 24 | €7,862 | €22,687 | +€14,826 | +188.6% |
| Other tangible fixed assets | 26 | €6,427 | €7,304 | +€877 | +13.7% |
| Financial fixed assets | 28 | €1,068,000 | €1,068,000 | = | 0.0% |
| Current assets | 29/58 | €137,023 | €101,037 | -€35,985 | -26.3% |
| Amounts receivable within one year | 40/41 | €119,378 | €91,838 | -€27,541 | -23.1% |
| Trade receivables | 40 | €78,204 | €64,244 | -€13,960 | -17.9% |
| Other amounts receivable | 41 | €41,174 | €27,594 | -€13,580 | -33.0% |
| Cash at bank and in hand | 54/58 | €3,225 | €6,271 | +€3,046 | +94.4% |
| Deferred charges and accrued income | 490/1 | €14,419 | €2,928 | -€11,491 | -79.7% |
| Total equity and liabilities | 10/49 | €1,219,311 | €1,199,029 | -€20,282 | -1.7% |
| Equity | 10/15 | €187,307 | €144,714 | -€42,593 | -22.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €168,757 | €126,164 | -€42,593 | -25.2% |
| Distributable reserves | 133 | €168,757 | €126,164 | -€42,593 | -25.2% |
| Amounts payable | 17/49 | €1,032,004 | €1,054,315 | +€22,311 | +2.2% |
| Amounts payable after more than one year | 17 | €680,253 | €560,429 | -€119,824 | -17.6% |
| Financial debts | 170/4 | €680,253 | €560,429 | -€119,824 | -17.6% |
| Amounts payable within one year | 42/48 | €337,556 | €485,658 | +€148,103 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | €105,280 | €119,824 | +€14,544 | +13.8% |
| Financial debts | 43 | €27,854 | €143,378 | +€115,523 | +414.7% |
| Credit institutions | 430/8 | €27,854 | €143,378 | +€115,523 | +414.7% |
| Trade debts | 44 | €7,185 | €7,273 | +€89 | +1.2% |
| Suppliers | 440/4 | €7,185 | €7,273 | +€89 | +1.2% |
| Advances received on contracts in progress | 46 | €1,531 | €1,531 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €398 | €32,937 | +€32,539 | +8176.2% |
| Taxes | 450/3 | €398 | €32,937 | +€32,539 | +8176.2% |
| Other amounts payable | 47/48 | €195,308 | €180,716 | -€14,593 | -7.5% |
| Accrued charges and deferred income | 492/3 | €14,195 | €8,227 | -€5,968 | -42.0% |
| Non-recurring operating income | 76A | - | €12,575 | +€12,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,780 | €8,279 | -€1,501 | -15.3% |
| Other operating charges | 640/8 | €485 | €2,483 | +€1,998 | +411.9% |
| Gross operating margin | 9900 | €57,058 | €16,275 | -€40,783 | -71.5% |
| Operating profit (loss) | 9901 | €46,793 | €5,513 | -€41,280 | -88.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €37,725 | €47,930 | +€10,205 | +27.1% |
| Recurring financial charges | 65 | €37,725 | €47,930 | +€10,205 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €9,069 | -€42,417 | -€51,486 | |
| Income taxes | 67/77 | €194 | €176 | -€18 | -9.2% |
| Profit (loss) for the period | 9904 | €8,875 | -€42,593 | -€51,468 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,875 | -€42,593 | -€51,468 |
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 1 October 2026 via checked.be.