ZEU TRANS: 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.
ZEU TRANS
Largest movements
- Receivables within one year -€18,334
down €18,334 (-78.2%), from €23,436 to €5,102
of which Trade receivables: -€18,337
- Tangible fixed assets -€17,209
down €17,209 (-43.0%), from €40,041 to €22,832
of which Leasing and similar rights: -€13,876
- Profit (loss) carried forward -€16,969
down €16,969 (-146%), from -€11,637 to -€28,606
- Trade debts -€10,084
down €10,084 (-33.8%), from €29,804 to €19,720
- Debts after one year -€6,792
down €6,792 (-61.2%), from €11,102 to €4,310
- Tax, wage and social debts -€4,738
down €4,738 (-35.4%), from €13,401 to €8,663
of which Remuneration and social security: -€4,257
- Other debts +€3,187
up €3,187 (+55.2%), from €5,778 to €8,964
- Depreciation +€7,076
up €7,076 (+69.8%), from €10,133 to €17,209
- Gross operating margin -€1,722
down €1,722 (-53.4%), from €3,227 to €1,505
- Other operating charges -€1,458
down €1,458 (-69.8%), from €2,090 to €631
- Financial charges +€308
up €308 (+94.1%), from €327 to €635
- Taxes -€79
down €79 (-100%), from €79 to €0
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 | €67,743 | €31,847 | -€35,896 | -53.0% |
| Fixed assets | 21/28 | €41,879 | €24,670 | -€17,209 | -41.1% |
| Tangible fixed assets | 22/27 | €40,041 | €22,832 | -€17,209 | -43.0% |
| Plant, machinery and equipment | 23 | €1,806 | €972 | -€833 | -46.1% |
| Furniture and vehicles | 24 | €3,542 | €1,042 | -€2,500 | -70.6% |
| Leasing and similar rights | 25 | €34,693 | €20,817 | -€13,876 | -40.0% |
| Financial fixed assets | 28 | €1,838 | €1,838 | = | 0.0% |
| Current assets | 29/58 | €25,864 | €7,177 | -€18,688 | -72.3% |
| Amounts receivable within one year | 40/41 | €23,436 | €5,102 | -€18,334 | -78.2% |
| Trade receivables | 40 | €22,141 | €3,805 | -€18,337 | -82.8% |
| Other amounts receivable | 41 | €1,295 | €1,298 | +€3 | +0.2% |
| Cash at bank and in hand | 54/58 | €2,116 | €1,571 | -€544 | -25.7% |
| Deferred charges and accrued income | 490/1 | €312 | €503 | +€191 | +61.1% |
| Total equity and liabilities | 10/49 | €67,743 | €31,847 | -€35,896 | -53.0% |
| Equity | 10/15 | -€8,637 | -€25,606 | -€16,969 | -196% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,637 | -€28,606 | -€16,969 | -146% |
| Amounts payable | 17/49 | €76,380 | €57,453 | -€18,928 | -24.8% |
| Amounts payable after more than one year | 17 | €11,102 | €4,310 | -€6,792 | -61.2% |
| Financial debts | 170/4 | €11,102 | €4,310 | -€6,792 | -61.2% |
| Amounts payable within one year | 42/48 | €65,278 | €53,143 | -€12,136 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €16,296 | €15,795 | -€501 | -3.1% |
| Trade debts | 44 | €29,804 | €19,720 | -€10,084 | -33.8% |
| Suppliers | 440/4 | €29,804 | €19,720 | -€10,084 | -33.8% |
| Taxes, remuneration and social security | 45 | €13,401 | €8,663 | -€4,738 | -35.4% |
| Taxes | 450/3 | €533 | €53 | -€481 | -90.1% |
| Remuneration and social security | 454/9 | €12,867 | €8,610 | -€4,257 | -33.1% |
| Other amounts payable | 47/48 | €5,778 | €8,964 | +€3,187 | +55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,133 | €17,209 | +€7,076 | +69.8% |
| Other operating charges | 640/8 | €2,090 | €631 | -€1,458 | -69.8% |
| Non-recurring operating charges | 66A | €2,500 | €0 | -€2,500 | -100% |
| Gross operating margin | 9900 | €3,227 | €1,505 | -€1,722 | -53.4% |
| Operating profit (loss) | 9901 | -€11,495 | -€16,335 | -€4,840 | -42.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +320% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +320% |
| Financial charges | 65/66B | €327 | €635 | +€308 | +94.1% |
| Recurring financial charges | 65 | €327 | €635 | +€308 | +94.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,822 | -€16,969 | -€5,147 | -43.5% |
| Income taxes | 67/77 | €79 | €0 | -€79 | -100% |
| Profit (loss) for the period | 9904 | -€11,901 | -€16,969 | -€5,068 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,901 | -€16,969 | -€5,068 | -42.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.