ZETTA: 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.
ZETTA
Largest movements
- Receivables within one year +€102,769
up €102,769 (+14.0%), from €736,368 to €839,137
of which Other amounts receivable: +€97,589
- Deferred charges and accrued income -€65,933
down €65,933 (-65.5%), from €100,719 to €34,786
- Cash -€17,279
down €17,279 (-10.6%), from €163,184 to €145,905
mainly Receivables within one year (-€102,769) and Trade debts (-€21,854)
- Receivables after one year -€12,500
down €12,500 (-9.5%), from €131,250 to €118,750
- Tax, wage and social debts +€32,501
up €32,501 (+19.8%), from €163,887 to €196,388
of which Remuneration and social security: +€29,570
- Trade debts -€21,854
down €21,854 (-66.6%), from €32,835 to €10,982
- Gross operating margin +€185,305
up €185,305 (+16.4%), from €1.1m to €1.3m
- Staff costs +€134,312
up €134,312 (+11.2%), from €1.2m to €1.3m
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 | €1,187,016 | €1,188,981 | +€1,965 | +0.2% |
| Fixed assets | 21/28 | €55,496 | €50,403 | -€5,093 | -9.2% |
| Tangible fixed assets | 22/27 | €24,177 | €19,085 | -€5,093 | -21.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €6,318 | €9,402 | +€3,084 | +48.8% |
| Other tangible fixed assets | 26 | €17,859 | €9,682 | -€8,177 | -45.8% |
| Financial fixed assets | 28 | €31,318 | €31,318 | = | 0.0% |
| Current assets | 29/58 | €1,131,521 | €1,138,578 | +€7,057 | +0.6% |
| Amounts receivable after more than one year | 29 | €131,250 | €118,750 | -€12,500 | -9.5% |
| Other amounts receivable | 291 | €131,250 | €118,750 | -€12,500 | -9.5% |
| Amounts receivable within one year | 40/41 | €736,368 | €839,137 | +€102,769 | +14.0% |
| Trade receivables | 40 | €0 | €5,180 | +€5,180 | |
| Other amounts receivable | 41 | €736,368 | €833,958 | +€97,589 | +13.3% |
| Cash at bank and in hand | 54/58 | €163,184 | €145,905 | -€17,279 | -10.6% |
| Deferred charges and accrued income | 490/1 | €100,719 | €34,786 | -€65,933 | -65.5% |
| Total equity and liabilities | 10/49 | €1,187,016 | €1,188,981 | +€1,965 | +0.2% |
| Equity | 10/15 | €961,840 | €952,324 | -€9,516 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €942,498 | €933,498 | -€9,000 | -1.0% |
| Non-distributable reserves | 130/1 | €2,485 | €2,485 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,485 | €2,485 | = | 0.0% |
| Tax-exempt reserves | 132 | €761,513 | €761,513 | = | 0.0% |
| Distributable reserves | 133 | €178,500 | €169,500 | -€9,000 | -5.0% |
| Profit (loss) carried forward | 14 | €742 | €227 | -€516 | -69.5% |
| Amounts payable | 17/49 | €225,176 | €236,657 | +€11,481 | +5.1% |
| Amounts payable within one year | 42/48 | €218,012 | €228,582 | +€10,570 | +4.8% |
| Financial debts | 43 | €21,130 | €21,052 | -€78 | -0.4% |
| Credit institutions | 430/8 | €21,130 | €21,052 | -€78 | -0.4% |
| Trade debts | 44 | €32,835 | €10,982 | -€21,854 | -66.6% |
| Suppliers | 440/4 | €32,835 | €10,982 | -€21,854 | -66.6% |
| Taxes, remuneration and social security | 45 | €163,887 | €196,388 | +€32,501 | +19.8% |
| Taxes | 450/3 | €3,211 | €6,142 | +€2,931 | +91.3% |
| Remuneration and social security | 454/9 | €160,676 | €190,245 | +€29,570 | +18.4% |
| Other amounts payable | 47/48 | €160 | €160 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,164 | €8,075 | +€911 | +12.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,203,526 | €1,337,838 | +€134,312 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,268 | €11,347 | +€79 | +0.7% |
| Other operating charges | 640/8 | €7,077 | €6,624 | -€453 | -6.4% |
| Non-recurring operating charges | 66A | €1,436 | €1,131 | -€305 | -21.2% |
| Gross operating margin | 9900 | €1,131,686 | €1,316,990 | +€185,305 | +16.4% |
| Operating profit (loss) | 9901 | -€91,623 | -€39,950 | +€51,672 | +56.4% |
| Financial income | 75/76B | €32,164 | €32,741 | +€577 | +1.8% |
| Recurring financial income | 75 | €32,164 | €32,741 | +€577 | +1.8% |
| Financial charges | 65/66B | €2,643 | €1,983 | -€660 | -25.0% |
| Recurring financial charges | 65 | €2,643 | €1,983 | -€660 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,102 | -€9,192 | +€52,910 | +85.2% |
| Income taxes | 67/77 | €196 | €324 | +€128 | +65.4% |
| Profit (loss) for the period | 9904 | -€62,298 | -€9,516 | +€52,782 | +84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,298 | -€9,516 | +€52,782 | +84.7% |
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 8 October 2026 via checked.be.