ZETHIA: 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.
ZETHIA
Largest movements
- Receivables within one year -€2.5m
down €2.5m (-95.8%), from €2.6m to €108,952
of which Other amounts receivable: -€2.5m
- Receivables after one year +€2.3m
up €2.3m (+490%), from €464,000 to €2.7m
- Current investments +€100,000
new in 2025: €100,000
- Cash -€62,824
down €62,824 (-32.8%), from €191,453 to €128,629
mainly Receivables after one year (-€2.3m) and Net result for the year (-€134,728)
- Deferred charges and accrued income -€60,853
down €60,853 (-97.8%), from €62,214 to €1,362
- Reserves -€134,728
down €134,728 (-3.9%), from €3.4m to €3.3m
of which Distributable reserves: -€132,875
- Debts after one year -€114,993
down €114,993 (-42.6%), from €269,941 to €154,949
- Tax, wage and social debts -€47,676
down €47,676 (-97.5%), from €48,892 to €1,216
of which Taxes: -€40,026
- Financial income -€36,803
down €36,803 (-98.1%), from €37,532 to €729
of which Financial income: -€31,178
- Other operating charges +€23,849
up €23,849 (+391%), from €6,093 to €29,942
- Gross operating margin +€3,555
up €3,555 (+6.8%), from -€52,247 to -€48,692
- Financial charges +€1,703
up €1,703 (+13.1%), from €12,971 to €14,674
of which Financial charges: +€2,346
- Taxes +€1,639
up €1,639 (+692%), from €237 to €1,876
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 | €3,951,844 | €3,638,727 | -€313,116 | -7.9% |
| Fixed assets | 21/28 | €611,040 | €560,784 | -€50,256 | -8.2% |
| Tangible fixed assets | 22/27 | €611,040 | €560,784 | -€50,256 | -8.2% |
| Land and buildings | 22 | €547,136 | €525,214 | -€21,922 | -4.0% |
| Plant, machinery and equipment | 23 | €6,957 | €3,934 | -€3,022 | -43.4% |
| Furniture and vehicles | 24 | €56,947 | €31,636 | -€25,311 | -44.4% |
| Current assets | 29/58 | €3,340,804 | €3,077,943 | -€262,861 | -7.9% |
| Amounts receivable after more than one year | 29 | €464,000 | €2,739,000 | +€2.3m | +490% |
| Other amounts receivable | 291 | €464,000 | €2,739,000 | +€2.3m | +490% |
| Amounts receivable within one year | 40/41 | €2,623,137 | €108,952 | -€2.5m | -95.8% |
| Trade receivables | 40 | €5,252 | €8,085 | +€2,833 | +53.9% |
| Other amounts receivable | 41 | €2,617,885 | €100,868 | -€2.5m | -96.1% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €191,453 | €128,629 | -€62,824 | -32.8% |
| Deferred charges and accrued income | 490/1 | €62,214 | €1,362 | -€60,853 | -97.8% |
| Total equity and liabilities | 10/49 | €3,951,844 | €3,638,727 | -€313,116 | -7.9% |
| Equity | 10/15 | €3,472,177 | €3,337,449 | -€134,728 | -3.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Contributions outside capital | 11 | €25,000 | - | -€25,000 | |
| Other | 1109/19 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €3,447,177 | €3,312,449 | -€134,728 | -3.9% |
| Tax-exempt reserves | 132 | €63,863 | €62,010 | -€1,853 | -2.9% |
| Distributable reserves | 133 | €3,383,314 | €3,250,439 | -€132,875 | -3.9% |
| Provisions and deferred taxes | 16 | €38,098 | €37,635 | -€463 | -1.2% |
| Provisions for liabilities and charges | 160/5 | €24,044 | €24,044 | = | 0.0% |
| Pensions and similar obligations | 160 | €24,044 | €24,044 | = | 0.0% |
| Deferred taxes | 168 | €14,054 | €13,591 | -€463 | -3.3% |
| Amounts payable | 17/49 | €441,568 | €263,643 | -€177,925 | -40.3% |
| Amounts payable after more than one year | 17 | €269,941 | €154,949 | -€114,993 | -42.6% |
| Financial debts | 170/4 | €269,941 | €154,949 | -€114,993 | -42.6% |
| Amounts payable within one year | 42/48 | €164,963 | €108,694 | -€56,268 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €99,815 | €99,019 | -€795 | -0.8% |
| Trade debts | 44 | €16,256 | €8,459 | -€7,797 | -48.0% |
| Suppliers | 440/4 | €16,256 | €8,459 | -€7,797 | -48.0% |
| Taxes, remuneration and social security | 45 | €48,892 | €1,216 | -€47,676 | -97.5% |
| Taxes | 450/3 | €41,242 | €1,216 | -€40,026 | -97.1% |
| Remuneration and social security | 454/9 | €7,650 | - | -€7,650 | |
| Accrued charges and deferred income | 492/3 | €6,664 | - | -€6,664 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,196 | €40,737 | +€1,541 | +3.9% |
| Other operating charges | 640/8 | €6,093 | €29,942 | +€23,849 | +391% |
| Gross operating margin | 9900 | -€52,247 | -€48,692 | +€3,555 | +6.8% |
| Operating profit (loss) | 9901 | -€97,536 | -€119,371 | -€21,835 | -22.4% |
| Financial income | 75/76B | €37,532 | €729 | -€36,803 | -98.1% |
| Recurring financial income | 75 | €31,907 | €729 | -€31,178 | -97.7% |
| Non-recurring financial income | 76B | €5,625 | - | -€5,625 | |
| Financial charges | 65/66B | €12,971 | €14,674 | +€1,703 | +13.1% |
| Recurring financial charges | 65 | €12,328 | €14,674 | +€2,346 | +19.0% |
| Non-recurring financial charges | 66B | €643 | - | -€643 | |
| Profit (loss) for the period before taxes | 9903 | -€72,974 | -€133,315 | -€60,341 | -82.7% |
| Transfer from deferred taxes | 780 | €463 | €463 | = | 0.0% |
| Income taxes | 67/77 | €237 | €1,876 | +€1,639 | +692% |
| Profit (loss) for the period | 9904 | -€72,748 | -€134,728 | -€61,981 | -85.2% |
| Transfer from tax-exempt reserves | 789 | €1,853 | €1,853 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,894 | -€132,875 | -€61,981 | -87.4% |
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 24 October 2026 via checked.be.