ZEVENEKE: 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.
ZEVENEKE
Largest movements
- Financial fixed assets +€1.7m
new in 2025: €1.7m
- Stocks and contracts -€680,486
down €680,486 (-63.6%), from €1.1m to €389,495
- Cash +€485,780
up €485,780 (+106736.8%), from €455 to €486,236
mainly Stocks and contracts (+€680,486) and Short-term financial debts (+€480,000)
- Receivables within one year +€136,502
up €136,502 (+73.2%), from €186,412 to €322,913
of which Trade receivables: +€82,459
- Deferred charges and accrued income -€30,678
down €30,678 (-82.3%), from €37,285 to €6,607
- Short-term financial debts +€480,000
up €480,000 (+66.7%), from €720,000 to €1.2m
- Debts after one year +€444,660
up €444,660 (+82.3%), from €540,000 to €984,660
- Contributions +€150,000
up €150,000 (+300.0%), from €50,000 to €200,000
- Reserves +€130,252
new in 2025: €130,252
- Other debts +€125,000
new in 2025: €125,000
- Gross operating margin +€571,165
up €571,165, from -€64,271 to €506,894
- Financial charges +€49,466
up €49,466 (+145.1%), from €34,095 to €83,561
- Taxes +€44,752
new in 2025: €44,752
- Financial income +€9,733
up €9,733 (+12606.4%), from €77 to €9,811
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 | €1,303,390 | €2,875,823 | +€1.6m | +120.6% |
| Fixed assets | 21/28 | €9,257 | €1,670,572 | +€1.7m | +17945.7% |
| Intangible fixed assets | 21 | €7,365 | €5,769 | -€1,596 | -21.7% |
| Tangible fixed assets | 22/27 | €1,892 | €1,484 | -€408 | -21.5% |
| Furniture and vehicles | 24 | €1,892 | €1,484 | -€408 | -21.5% |
| Financial fixed assets | 28 | - | €1,663,318 | +€1.7m | |
| Current assets | 29/58 | €1,294,132 | €1,205,251 | -€88,882 | -6.9% |
| Stocks and contracts in progress | 3 | €1,069,981 | €389,495 | -€680,486 | -63.6% |
| Stocks | 30/36 | €1,069,981 | €389,495 | -€680,486 | -63.6% |
| Amounts receivable within one year | 40/41 | €186,412 | €322,913 | +€136,502 | +73.2% |
| Trade receivables | 40 | €39,322 | €121,781 | +€82,459 | +209.7% |
| Other amounts receivable | 41 | €147,089 | €201,132 | +€54,043 | +36.7% |
| Cash at bank and in hand | 54/58 | €455 | €486,236 | +€485,780 | +106736.8% |
| Deferred charges and accrued income | 490/1 | €37,285 | €6,607 | -€30,678 | -82.3% |
| Total equity and liabilities | 10/49 | €1,303,390 | €2,875,823 | +€1.6m | +120.6% |
| Equity | 10/15 | -€58,969 | €330,252 | +€389,221 | |
| Contributions | 10/11 | €50,000 | €200,000 | +€150,000 | +300.0% |
| Reserves | 13 | - | €130,252 | +€130,252 | |
| Distributable reserves | 133 | - | €130,252 | +€130,252 | |
| Profit (loss) carried forward | 14 | -€108,969 | €0 | +€108,969 | |
| Amounts payable | 17/49 | €1,362,359 | €2,545,571 | +€1.2m | +86.9% |
| Amounts payable after more than one year | 17 | €540,000 | €984,660 | +€444,660 | +82.3% |
| Financial debts | 170/4 | €540,000 | €984,660 | +€444,660 | +82.3% |
| Amounts payable within one year | 42/48 | €770,295 | €1,475,605 | +€705,310 | +91.6% |
| Financial debts | 43 | €720,000 | €1,200,000 | +€480,000 | +66.7% |
| Credit institutions | 430/8 | €720,000 | €1,200,000 | +€480,000 | +66.7% |
| Trade debts | 44 | €50,295 | €49,039 | -€1,256 | -2.5% |
| Suppliers | 440/4 | €50,295 | €49,039 | -€1,256 | -2.5% |
| Taxes, remuneration and social security | 45 | - | €101,567 | +€101,567 | |
| Taxes | 450/3 | - | €101,567 | +€101,567 | |
| Other amounts payable | 47/48 | - | €125,000 | +€125,000 | |
| Accrued charges and deferred income | 492/3 | €52,064 | €85,305 | +€33,242 | +63.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,015 | €2,004 | -€5,011 | -71.4% |
| Other operating charges | 640/8 | €3,665 | €2,166 | -€1,499 | -40.9% |
| Non-recurring operating charges | 66A | - | €20,000 | +€20,000 | |
| Gross operating margin | 9900 | -€64,271 | €506,894 | +€571,165 | |
| Operating profit (loss) | 9901 | -€74,951 | €482,723 | +€557,674 | |
| Financial income | 75/76B | €77 | €9,811 | +€9,733 | +12606.4% |
| Recurring financial income | 75 | €77 | €9,811 | +€9,733 | +12606.4% |
| Financial charges | 65/66B | €34,095 | €83,561 | +€49,466 | +145.1% |
| Recurring financial charges | 65 | €34,095 | €83,561 | +€49,466 | +145.1% |
| Profit (loss) for the period before taxes | 9903 | -€108,969 | €408,973 | +€517,942 | |
| Income taxes | 67/77 | - | €44,752 | +€44,752 | |
| Profit (loss) for the period | 9904 | -€108,969 | €364,221 | +€473,190 | |
| Profit (loss) for the period to be appropriated | 9905 | -€108,969 | €364,221 | +€473,190 |
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 2 October 2026 via checked.be.