Zest4: 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.
Zest4
Largest movements
- Cash -€12,268
down €12,268 (-52.6%), from €23,308 to €11,040
mainly Contributions, distributions and other (-€55,396) and Other debts (-€16,117)
- Receivables within one year -€2,639
down €2,639 (-12.9%), from €20,484 to €17,845
of which Trade receivables: -€3,768
- Other debts -€16,117
down €16,117 (-18.3%), from €88,169 to €72,052
- Tax, wage and social debts -€5,865
down €5,865 (-63.9%), from €9,184 to €3,319
- Current portion of long-term debt +€5,733
new in 2025: €5,733
- Gross operating margin -€39,503
down €39,503 (-37.8%), from €104,407 to €64,904
- Taxes -€5,730
down €5,730 (-30.7%), from €18,669 to €12,940
- Financial income +€5,170
up €5,170 (+2945.6%), from €176 to €5,346
- Financial charges +€3,974
up €3,974, from -€3,604 to €370
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 | €117,813 | €102,834 | -€14,979 | -12.7% |
| Fixed assets | 21/28 | €1,219 | €999 | -€220 | -18.1% |
| Tangible fixed assets | 22/27 | €1,219 | €999 | -€220 | -18.1% |
| Furniture and vehicles | 24 | €1,219 | €999 | -€220 | -18.1% |
| Current assets | 29/58 | €116,594 | €101,835 | -€14,759 | -12.7% |
| Amounts receivable within one year | 40/41 | €20,484 | €17,845 | -€2,639 | -12.9% |
| Trade receivables | 40 | €15,949 | €12,181 | -€3,768 | -23.6% |
| Other amounts receivable | 41 | €4,535 | €5,664 | +€1,129 | +24.9% |
| Current investments | 50/53 | €68,281 | €68,281 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,308 | €11,040 | -€12,268 | -52.6% |
| Deferred charges and accrued income | 490/1 | €4,520 | €4,669 | +€149 | +3.3% |
| Total equity and liabilities | 10/49 | €117,813 | €102,834 | -€14,979 | -12.7% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €97,353 | €82,374 | -€14,979 | -15.4% |
| Amounts payable within one year | 42/48 | €97,353 | €81,757 | -€15,595 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,733 | +€5,733 | |
| Trade debts | 44 | - | €653 | +€653 | |
| Suppliers | 440/4 | - | €653 | +€653 | |
| Taxes, remuneration and social security | 45 | €9,184 | €3,319 | -€5,865 | -63.9% |
| Taxes | 450/3 | €9,184 | €3,319 | -€5,865 | -63.9% |
| Other amounts payable | 47/48 | €88,169 | €72,052 | -€16,117 | -18.3% |
| Accrued charges and deferred income | 492/3 | - | €617 | +€617 | |
| Remuneration, social security and pensions | 62 | €438 | - | -€438 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €910 | €757 | -€153 | -16.8% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | €104,407 | €64,904 | -€39,503 | -37.8% |
| Operating profit (loss) | 9901 | €103,059 | €63,360 | -€39,699 | -38.5% |
| Financial income | 75/76B | €176 | €5,346 | +€5,170 | +2945.6% |
| Recurring financial income | 75 | €176 | €5,346 | +€5,170 | +2945.6% |
| Financial charges | 65/66B | -€3,604 | €370 | +€3,974 | |
| Recurring financial charges | 65 | -€3,604 | €370 | +€3,974 | |
| Profit (loss) for the period before taxes | 9903 | €106,838 | €68,335 | -€38,503 | -36.0% |
| Income taxes | 67/77 | €18,669 | €12,940 | -€5,730 | -30.7% |
| Profit (loss) for the period | 9904 | €88,169 | €55,396 | -€32,773 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,169 | €55,396 | -€32,773 | -37.2% |
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 2 October 2026 via checked.be.