ZEUWADA: 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.
ZEUWADA
Largest movements
- Cash -€3,586
down €3,586 (-23.8%), from €15,053 to €11,467
mainly Tax, wage and social debts (-€3,022) and Receivables within one year (-€2,859)
- Receivables within one year +€2,859
up €2,859 (+515%), from €555 to €3,414
- Tangible fixed assets -€2,019
down €2,019 (-43.7%), from €4,619 to €2,600
- Deferred charges and accrued income +€959
up €959 (+90.1%), from €1,064 to €2,023
- Intangible fixed assets -€900
down €900 (-100%), from €900 to €0
- Tax, wage and social debts -€3,022
down €3,022 (-33.2%), from €9,092 to €6,070
of which Remuneration and social security: -€3,737
- Profit (loss) carried forward +€1,122
up €1,122 (+91.7%), from -€1,223 to -€101
- Trade debts -€776
down €776 (-10.5%), from €7,407 to €6,631
- Short-term financial debts -€636
down €636 (-14.6%), from €4,365 to €3,729
- Gross operating margin +€21,987
up €21,987 (+141%), from €15,609 to €37,596
- Staff costs +€20,967
up €20,967 (+199%), from €10,550 to €31,517
- Financial charges +€1,564
up €1,564 (+810%), from €193 to €1,757
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 | €38,641 | €35,329 | -€3,312 | -8.6% |
| Fixed assets | 21/28 | €5,519 | €2,600 | -€2,919 | -52.9% |
| Intangible fixed assets | 21 | €900 | €0 | -€900 | -100% |
| Tangible fixed assets | 22/27 | €4,619 | €2,600 | -€2,019 | -43.7% |
| Furniture and vehicles | 24 | €4,619 | €2,600 | -€2,019 | -43.7% |
| Current assets | 29/58 | €33,122 | €32,729 | -€393 | -1.2% |
| Stocks and contracts in progress | 3 | €16,450 | €15,825 | -€625 | -3.8% |
| Stocks | 30/36 | €16,450 | €15,825 | -€625 | -3.8% |
| Amounts receivable within one year | 40/41 | €555 | €3,414 | +€2,859 | +515% |
| Other amounts receivable | 41 | €555 | €3,414 | +€2,859 | +515% |
| Cash at bank and in hand | 54/58 | €15,053 | €11,467 | -€3,586 | -23.8% |
| Deferred charges and accrued income | 490/1 | €1,064 | €2,023 | +€959 | +90.1% |
| Total equity and liabilities | 10/49 | €38,641 | €35,329 | -€3,312 | -8.6% |
| Equity | 10/15 | €14,777 | €15,899 | +€1,122 | +7.6% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,223 | -€101 | +€1,122 | +91.7% |
| Amounts payable | 17/49 | €23,864 | €19,430 | -€4,434 | -18.6% |
| Amounts payable within one year | 42/48 | €23,864 | €19,430 | -€4,434 | -18.6% |
| Financial debts | 43 | €4,365 | €3,729 | -€636 | -14.6% |
| Other loans | 439 | €4,365 | €3,729 | -€636 | -14.6% |
| Trade debts | 44 | €7,407 | €6,631 | -€776 | -10.5% |
| Suppliers | 440/4 | €7,407 | €6,631 | -€776 | -10.5% |
| Taxes, remuneration and social security | 45 | €9,092 | €6,070 | -€3,022 | -33.2% |
| Taxes | 450/3 | €4,857 | €5,572 | +€715 | +14.7% |
| Remuneration and social security | 454/9 | €4,235 | €498 | -€3,737 | -88.2% |
| Other amounts payable | 47/48 | €3,000 | €3,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €10,550 | €31,517 | +€20,967 | +199% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,919 | €2,919 | = | 0.0% |
| Other operating charges | 640/8 | €150 | €281 | +€131 | +87.3% |
| Gross operating margin | 9900 | €15,609 | €37,596 | +€21,987 | +141% |
| Operating profit (loss) | 9901 | €1,990 | €2,879 | +€889 | +44.7% |
| Financial charges | 65/66B | €193 | €1,757 | +€1,564 | +810% |
| Recurring financial charges | 65 | €193 | €1,757 | +€1,564 | +810% |
| Profit (loss) for the period before taxes | 9903 | €1,797 | €1,122 | -€675 | -37.6% |
| Profit (loss) for the period | 9904 | €1,797 | €1,122 | -€675 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,797 | €1,122 | -€675 | -37.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.