ZET'A: what changed
Two financial 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.
ZET'A
Largest movements
- Cash +€11,981
up €11,981 (+46.7%), from €25,630 to €37,611
mainly Net result for the year (+€47,783) and Tax, wage and social debts (+€16,084)
- Tangible fixed assets +€10,857
up €10,857 (+33.7%), from €32,194 to €43,051
of which Plant, machinery and equipment: +€5,648
- Receivables within one year +€6,964
up €6,964 (+135%), from €5,152 to €12,115
of which Other amounts receivable: +€4,968
- Reserves +€47,783
new in 2025: €47,783
- Other debts -€21,582
down €21,582 (-63.5%), from €33,973 to €12,391
- Tax, wage and social debts +€16,084
up €16,084 (+1,679%), from €958 to €17,042
- Accrued charges and deferred income -€14,710
down €14,710 (-81.9%), from €17,951 to €3,241
- Trade debts +€2,118
new in 2025: €2,118
- Gross operating margin +€64,701
up €64,701 (+1,221%), from €5,297 to €69,998
- Taxes +€12,581
up €12,581, from -€19 to €12,562
- Depreciation +€5,105
up €5,105 (+233%), from €2,195 to €7,300
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.
Derived cash bridge
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 | €64,683 | €94,375 | +€29,692 | +45.9% |
| Formation expenses | 20 | €1,707 | €1,182 | -€525 | -30.7% |
| Fixed assets | 21/28 | €32,194 | €43,051 | +€10,857 | +33.7% |
| Tangible fixed assets | 22/27 | €32,194 | €43,051 | +€10,857 | +33.7% |
| Land and buildings | 22 | - | €1,031 | +€1,031 | |
| Plant, machinery and equipment | 23 | €16,222 | €21,870 | +€5,648 | +34.8% |
| Furniture and vehicles | 24 | €8,020 | €8,521 | +€501 | +6.2% |
| Other tangible fixed assets | 26 | €7,951 | €11,629 | +€3,677 | +46.2% |
| Current assets | 29/58 | €30,782 | €50,142 | +€19,361 | +62.9% |
| Amounts receivable within one year | 40/41 | €5,152 | €12,115 | +€6,964 | +135% |
| Trade receivables | 40 | €1,973 | €3,968 | +€1,995 | +101% |
| Other amounts receivable | 41 | €3,179 | €8,147 | +€4,968 | +156% |
| Cash at bank and in hand | 54/58 | €25,630 | €37,611 | +€11,981 | +46.7% |
| Deferred charges and accrued income | 490/1 | - | €416 | +€416 | |
| Total equity and liabilities | 10/49 | €64,683 | €94,375 | +€29,692 | +45.9% |
| Equity | 10/15 | €11,801 | €59,584 | +€47,783 | +405% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €47,783 | +€47,783 | |
| Distributable reserves | 133 | - | €47,783 | +€47,783 | |
| Profit (loss) carried forward | 14 | €1,801 | €1,801 | = | 0.0% |
| Amounts payable | 17/49 | €52,882 | €34,792 | -€18,090 | -34.2% |
| Amounts payable within one year | 42/48 | €34,931 | €31,551 | -€3,380 | -9.7% |
| Trade debts | 44 | - | €2,118 | +€2,118 | |
| Suppliers | 440/4 | - | €2,118 | +€2,118 | |
| Taxes, remuneration and social security | 45 | €958 | €17,042 | +€16,084 | +1,679% |
| Taxes | 450/3 | €958 | €17,042 | +€16,084 | +1,679% |
| Other amounts payable | 47/48 | €33,973 | €12,391 | -€21,582 | -63.5% |
| Accrued charges and deferred income | 492/3 | €17,951 | €3,241 | -€14,710 | -81.9% |
| Non-recurring operating income | 76A | €5,200 | €15,479 | +€10,279 | +198% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,195 | €7,300 | +€5,105 | +233% |
| Other operating charges | 640/8 | €57 | €683 | +€626 | +1,101% |
| Gross operating margin | 9900 | €5,297 | €69,998 | +€64,701 | +1,221% |
| Operating profit (loss) | 9901 | €3,046 | €62,015 | +€58,969 | +1,936% |
| Financial income | 75/76B | €1 | €6 | +€5 | +467% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +467% |
| Financial charges | 65/66B | €1,415 | €1,677 | +€261 | +18.5% |
| Recurring financial charges | 65 | €1,415 | €1,677 | +€261 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €1,632 | €60,344 | +€58,713 | +3,598% |
| Income taxes | 67/77 | -€19 | €12,562 | +€12,581 | |
| Profit (loss) for the period | 9904 | €1,651 | €47,783 | +€46,132 | +2,795% |
| Profit (loss) for the period to be appropriated | 9905 | €1,651 | €47,783 | +€46,132 | +2,795% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.