ZEUS: 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.
ZEUS
Largest movements
- Receivables within one year +€5,667
up €5,667 (+5555.9%), from €102 to €5,769
of which Trade receivables: +€5,717
- Tangible fixed assets -€1,904
no longer reported in 2026 (was €1,904)
of which Plant, machinery and equipment: -€1,699
- Profit (loss) carried forward +€3,119
up €3,119 (+8.9%), from -€35,108 to -€31,989
- Other debts +€2,000
up €2,000 (+12.2%), from €16,417 to €18,417
- Short-term financial debts -€1,614
no longer reported in 2026 (was €1,614)
- Trade debts +€745
new in 2026: €745
- Current portion of long-term debt -€449
no longer reported in 2026 (was €449)
- Gross operating margin +€6,008
up €6,008, from -€89 to €5,919
- Depreciation -€1,205
down €1,205 (-38.8%), from €3,109 to €1,904
- Financial charges -€153
down €153 (-29.5%), from €519 to €366
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,010 | €9,811 | +€3,801 | +63.2% |
| Fixed assets | 21/28 | €5,908 | €4,004 | -€1,904 | -32.2% |
| Tangible fixed assets | 22/27 | €1,904 | - | -€1,904 | |
| Plant, machinery and equipment | 23 | €1,699 | - | -€1,699 | |
| Furniture and vehicles | 24 | €205 | - | -€205 | |
| Financial fixed assets | 28 | €4,004 | €4,004 | = | 0.0% |
| Current assets | 29/58 | €102 | €5,807 | +€5,705 | +5593.1% |
| Amounts receivable within one year | 40/41 | €102 | €5,769 | +€5,667 | +5555.9% |
| Trade receivables | 40 | - | €5,717 | +€5,717 | |
| Other amounts receivable | 41 | €102 | €52 | -€50 | -49.0% |
| Cash at bank and in hand | 54/58 | - | €38 | +€38 | |
| Total equity and liabilities | 10/49 | €6,010 | €9,811 | +€3,801 | +63.2% |
| Equity | 10/15 | -€12,470 | -€9,351 | +€3,119 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,038 | €4,038 | = | 0.0% |
| Distributable reserves | 133 | €4,038 | €4,038 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,108 | -€31,989 | +€3,119 | +8.9% |
| Amounts payable | 17/49 | €18,480 | €19,162 | +€682 | +3.7% |
| Amounts payable within one year | 42/48 | €18,480 | €19,162 | +€682 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €449 | - | -€449 | |
| Financial debts | 43 | €1,614 | - | -€1,614 | |
| Credit institutions | 430/8 | €1,614 | - | -€1,614 | |
| Trade debts | 44 | - | €745 | +€745 | |
| Suppliers | 440/4 | - | €745 | +€745 | |
| Other amounts payable | 47/48 | €16,417 | €18,417 | +€2,000 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,109 | €1,904 | -€1,205 | -38.8% |
| Other operating charges | 640/8 | €505 | €531 | +€26 | +5.1% |
| Gross operating margin | 9900 | -€89 | €5,919 | +€6,008 | |
| Operating profit (loss) | 9901 | -€3,703 | €3,484 | +€7,187 | |
| Financial charges | 65/66B | €519 | €366 | -€153 | -29.5% |
| Recurring financial charges | 65 | €519 | €366 | -€153 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,222 | €3,118 | +€7,340 | |
| Profit (loss) for the period | 9904 | -€4,222 | €3,118 | +€7,340 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,222 | €3,118 | +€7,340 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.