Zes-A: 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.
Zes-A
Largest movements
- Current investments +€380,000
new in 2025: €380,000
- Cash -€52,421
down €52,421 (-92.1%), from €56,948 to €4,526
mainly Current investments (-€380,000) and Receivables within one year (-€48,105)
- Receivables within one year +€48,105
up €48,105 (+327.4%), from €14,695 to €62,800
- Tangible fixed assets -€41,212
down €41,212 (-100.0%), from €41,212 to €0
- Reserves +€220,365
up €220,365 (+239.2%), from €92,133 to €312,498
- Tax, wage and social debts +€114,571
up €114,571 (+5989.7%), from €1,913 to €116,483
- Gross operating margin +€323,681
up €323,681 (+1296.4%), from €24,968 to €348,649
- Taxes +€108,522
up €108,522 (+1355.6%), from €8,005 to €116,528
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 | €113,535 | €449,484 | +€335,950 | +295.9% |
| Fixed assets | 21/28 | €41,212 | €0 | -€41,212 | -100.0% |
| Tangible fixed assets | 22/27 | €41,212 | €0 | -€41,212 | -100.0% |
| Land and buildings | 22 | €41,212 | €0 | -€41,212 | -100.0% |
| Current assets | 29/58 | €72,322 | €449,484 | +€377,162 | +521.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €14,695 | €62,800 | +€48,105 | +327.4% |
| Other amounts receivable | 41 | €14,695 | €62,800 | +€48,105 | +327.4% |
| Current investments | 50/53 | - | €380,000 | +€380,000 | |
| Cash at bank and in hand | 54/58 | €56,948 | €4,526 | -€52,421 | -92.1% |
| Deferred charges and accrued income | 490/1 | €680 | €2,158 | +€1,478 | +217.4% |
| Total equity and liabilities | 10/49 | €113,535 | €449,484 | +€335,950 | +295.9% |
| Equity | 10/15 | €110,733 | €331,098 | +€220,365 | +199.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,133 | €312,498 | +€220,365 | +239.2% |
| Distributable reserves | 133 | €92,133 | €312,498 | +€220,365 | +239.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,802 | €118,386 | +€115,585 | +4125.4% |
| Amounts payable within one year | 42/48 | €2,802 | €118,386 | +€115,585 | +4125.4% |
| Trade debts | 44 | €889 | €1,903 | +€1,014 | +114.1% |
| Suppliers | 440/4 | €889 | €1,903 | +€1,014 | +114.1% |
| Taxes, remuneration and social security | 45 | €1,913 | €116,483 | +€114,571 | +5989.7% |
| Taxes | 450/3 | €1,913 | €116,483 | +€114,571 | +5989.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €1,472 | €1,517 | +€45 | +3.0% |
| Gross operating margin | 9900 | €24,968 | €348,649 | +€323,681 | +1296.4% |
| Operating profit (loss) | 9901 | €23,496 | €347,132 | +€323,636 | +1377.4% |
| Financial income | 75/76B | €1,498 | €2,306 | +€807 | +53.9% |
| Recurring financial income | 75 | €1,498 | €2,306 | +€807 | +53.9% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €24,950 | €349,393 | +€324,442 | +1300.3% |
| Income taxes | 67/77 | €8,005 | €116,528 | +€108,522 | +1355.6% |
| Profit (loss) for the period | 9904 | €16,945 | €232,865 | +€215,920 | +1274.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,945 | €232,865 | +€215,920 | +1274.2% |
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 4 October 2026 via checked.be.