ZETAD: 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.
ZETAD
Largest movements
- Tangible fixed assets +€24,483
up €24,483 (+8,771%), from €279 to €24,763
of which Furniture and vehicles: +€23,911
- Receivables within one year -€11,143
down €11,143 (-93.9%), from €11,873 to €730
of which Trade receivables: -€10,435
- Cash +€6,368
up €6,368 (+298%), from €2,140 to €8,508
mainly Receivables within one year (+€11,143) and Debts after one year (+€10,197)
- Debts after one year +€10,197
new in 2025: €10,197
- Profit (loss) carried forward +€5,735
up €5,735 (+77.6%), from €7,392 to €13,127
- Current portion of long-term debt +€3,998
new in 2025: €3,998
- Other debts -€1,174
no longer reported in 2025 (was €1,174)
- Tax, wage and social debts +€979
up €979 (+158%), from €620 to €1,599
- Gross operating margin +€10,558
up €10,558 (+280%), from €3,774 to €14,332
- Depreciation +€5,053
up €5,053 (+1,915%), from €264 to €5,317
- Financial charges +€1,067
up €1,067 (+2,603%), from €41 to €1,108
- Taxes +€979
up €979 (+158%), from €620 to €1,599
- Other operating charges +€173
up €173 (+43.2%), from €400 to €573
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 | €14,292 | €34,000 | +€19,708 | +138% |
| Fixed assets | 21/28 | €279 | €24,763 | +€24,483 | +8,771% |
| Tangible fixed assets | 22/27 | €279 | €24,763 | +€24,483 | +8,771% |
| Plant, machinery and equipment | 23 | - | €572 | +€572 | |
| Furniture and vehicles | 24 | €279 | €24,190 | +€23,911 | +8,566% |
| Current assets | 29/58 | €14,013 | €9,238 | -€4,776 | -34.1% |
| Amounts receivable within one year | 40/41 | €11,873 | €730 | -€11,143 | -93.9% |
| Trade receivables | 40 | €10,435 | - | -€10,435 | |
| Other amounts receivable | 41 | €1,438 | €730 | -€708 | -49.2% |
| Cash at bank and in hand | 54/58 | €2,140 | €8,508 | +€6,368 | +298% |
| Total equity and liabilities | 10/49 | €14,292 | €34,000 | +€19,708 | +138% |
| Equity | 10/15 | €12,392 | €18,127 | +€5,735 | +46.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,392 | €13,127 | +€5,735 | +77.6% |
| Amounts payable | 17/49 | €1,901 | €15,873 | +€13,973 | +735% |
| Amounts payable after more than one year | 17 | - | €10,197 | +€10,197 | |
| Financial debts | 170/4 | - | €10,197 | +€10,197 | |
| Amounts payable within one year | 42/48 | €1,901 | €5,676 | +€3,775 | +199% |
| Current portion of amounts payable after more than one year | 42 | - | €3,998 | +€3,998 | |
| Trade debts | 44 | €107 | €79 | -€28 | -26.5% |
| Suppliers | 440/4 | €107 | €79 | -€28 | -26.5% |
| Taxes, remuneration and social security | 45 | €620 | €1,599 | +€979 | +158% |
| Taxes | 450/3 | €620 | €1,599 | +€979 | +158% |
| Other amounts payable | 47/48 | €1,174 | - | -€1,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264 | €5,317 | +€5,053 | +1,915% |
| Other operating charges | 640/8 | €400 | €573 | +€173 | +43.2% |
| Gross operating margin | 9900 | €3,774 | €14,332 | +€10,558 | +280% |
| Operating profit (loss) | 9901 | €3,110 | €8,442 | +€5,332 | +171% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €41 | €1,108 | +€1,067 | +2,603% |
| Recurring financial charges | 65 | €41 | €1,108 | +€1,067 | +2,603% |
| Profit (loss) for the period before taxes | 9903 | €3,069 | €7,334 | +€4,265 | +139% |
| Income taxes | 67/77 | €620 | €1,599 | +€979 | +158% |
| Profit (loss) for the period | 9904 | €2,450 | €5,735 | +€3,286 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €2,450 | €5,735 | +€3,286 | +134% |
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 14 October 2026 via checked.be.