Zeto Projects: 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.
Zeto Projects
Largest movements
- Tangible fixed assets -€168,811
down €168,811 (-4.7%), from €3.6m to €3.4m
of which Land and buildings: -€171,231
- Cash +€49,339
up €49,339 (+266.8%), from €18,495 to €67,834
mainly Depreciation (+€171,552) and Net result for the year (+€75,524)
- Receivables within one year -€37,507
down €37,507 (-100.0%), from €37,507 to €0
of which Other amounts receivable: -€25,000
- Debts after one year -€201,601
down €201,601 (-19.3%), from €1.0m to €845,240
- Profit (loss) carried forward +€75,524
up €75,524 (+44.4%), from €170,187 to €245,710
- Short-term financial debts -€40,000
down €40,000 (-1.8%), from €2.2m to €2.1m
- Financial charges -€4,013
down €4,013 (-15.1%), from €26,513 to €22,500
- Gross operating margin +€4,007
up €4,007 (+1.3%), from €311,662 to €315,668
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 | €3,639,432 | €3,482,132 | -€157,300 | -4.3% |
| Formation expenses | 20 | €321 | €0 | -€321 | -100.0% |
| Fixed assets | 21/28 | €3,583,109 | €3,414,298 | -€168,811 | -4.7% |
| Tangible fixed assets | 22/27 | €3,583,109 | €3,414,298 | -€168,811 | -4.7% |
| Land and buildings | 22 | €3,583,109 | €3,411,878 | -€171,231 | -4.8% |
| Plant, machinery and equipment | 23 | - | €2,420 | +€2,420 | |
| Current assets | 29/58 | €56,002 | €67,834 | +€11,832 | +21.1% |
| Amounts receivable within one year | 40/41 | €37,507 | €0 | -€37,507 | -100.0% |
| Trade receivables | 40 | €12,507 | €0 | -€12,507 | -100.0% |
| Other amounts receivable | 41 | €25,000 | €0 | -€25,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,495 | €67,834 | +€49,339 | +266.8% |
| Total equity and liabilities | 10/49 | €3,639,432 | €3,482,132 | -€157,300 | -4.3% |
| Equity | 10/15 | €180,187 | €255,710 | +€75,524 | +41.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,187 | €245,710 | +€75,524 | +44.4% |
| Amounts payable | 17/49 | €3,459,245 | €3,226,422 | -€232,824 | -6.7% |
| Amounts payable after more than one year | 17 | €1,046,841 | €845,240 | -€201,601 | -19.3% |
| Financial debts | 170/4 | €1,046,841 | €845,240 | -€201,601 | -19.3% |
| Amounts payable within one year | 42/48 | €2,386,249 | €2,354,495 | -€31,753 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €197,858 | €201,601 | +€3,743 | +1.9% |
| Financial debts | 43 | €2,183,586 | €2,143,586 | -€40,000 | -1.8% |
| Other loans | 439 | €2,183,586 | €2,143,586 | -€40,000 | -1.8% |
| Trade debts | 44 | €336 | €2,443 | +€2,107 | +626.8% |
| Suppliers | 440/4 | €336 | €2,443 | +€2,107 | +626.8% |
| Taxes, remuneration and social security | 45 | €4,468 | €6,865 | +€2,396 | +53.6% |
| Taxes | 450/3 | €4,468 | €6,865 | +€2,396 | +53.6% |
| Accrued charges and deferred income | 492/3 | €26,156 | €26,687 | +€531 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,577 | €171,552 | -€25 | 0.0% |
| Other operating charges | 640/8 | €20,456 | €21,096 | +€640 | +3.1% |
| Gross operating margin | 9900 | €311,662 | €315,668 | +€4,007 | +1.3% |
| Operating profit (loss) | 9901 | €119,629 | €123,020 | +€3,392 | +2.8% |
| Financial income | 75/76B | €52 | €368 | +€315 | +601.2% |
| Recurring financial income | 75 | €52 | €368 | +€315 | +601.2% |
| Financial charges | 65/66B | €26,513 | €22,500 | -€4,013 | -15.1% |
| Recurring financial charges | 65 | €26,513 | €22,500 | -€4,013 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €93,168 | €100,888 | +€7,720 | +8.3% |
| Income taxes | 67/77 | €23,468 | €25,365 | +€1,896 | +8.1% |
| Profit (loss) for the period | 9904 | €69,700 | €75,524 | +€5,824 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,700 | €75,524 | +€5,824 | +8.4% |
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 9 October 2026 via checked.be.