ZEVUX: 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.
ZEVUX
Largest movements
- Tangible fixed assets +€191,352
up €191,352 (+324%), from €59,142 to €250,494
of which Furniture and vehicles: +€191,352
- Cash -€29,528
down €29,528 (-100%), from €29,528 to €0
mainly Investment in fixed assets (net) (-€205,778) and Contributions, distributions and other (-€30,000)
- Receivables within one year +€22,158
up €22,158 (+36.7%), from €60,365 to €82,523
of which Trade receivables: +€20,766
- Intangible fixed assets +€3,527
new in 2025: €3,527
- Debts after one year +€130,229
up €130,229 (+491%), from €26,500 to €156,729
- Current portion of long-term debt +€24,276
up €24,276 (+829%), from €2,928 to €27,203
- Reserves +€22,161
up €22,161 (+78.7%), from €28,157 to €50,319
- Short-term financial debts +€20,554
up €20,554 (+228%), from €9,000 to €29,554
- Other debts -€10,000
down €10,000 (-25.0%), from €40,000 to €30,000
- Depreciation +€6,920
up €6,920 (+174%), from €3,979 to €10,899
- Financial charges +€4,656
up €4,656 (+222%), from €2,095 to €6,751
- Taxes -€3,359
down €3,359 (-19.4%), from €17,325 to €13,966
- Gross operating margin -€2,638
down €2,638 (-3.2%), from €83,221 to €80,583
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 | €151,288 | €338,334 | +€187,046 | +124% |
| Fixed assets | 21/28 | €59,142 | €254,021 | +€194,879 | +330% |
| Intangible fixed assets | 21 | - | €3,527 | +€3,527 | |
| Tangible fixed assets | 22/27 | €59,142 | €250,494 | +€191,352 | +324% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €59,142 | €250,494 | +€191,352 | +324% |
| Current assets | 29/58 | €92,146 | €84,313 | -€7,833 | -8.5% |
| Amounts receivable within one year | 40/41 | €60,365 | €82,523 | +€22,158 | +36.7% |
| Trade receivables | 40 | €894 | €21,660 | +€20,766 | +2,324% |
| Other amounts receivable | 41 | €59,472 | €60,864 | +€1,392 | +2.3% |
| Cash at bank and in hand | 54/58 | €29,528 | €0 | -€29,528 | -100% |
| Deferred charges and accrued income | 490/1 | €2,252 | €1,790 | -€462 | -20.5% |
| Total equity and liabilities | 10/49 | €151,288 | €338,334 | +€187,046 | +124% |
| Equity | 10/15 | €32,157 | €54,319 | +€22,161 | +68.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €28,157 | €50,319 | +€22,161 | +78.7% |
| Distributable reserves | 133 | €28,157 | €50,319 | +€22,161 | +78.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €119,131 | €284,016 | +€164,885 | +138% |
| Amounts payable after more than one year | 17 | €26,500 | €156,729 | +€130,229 | +491% |
| Financial debts | 170/4 | €26,500 | €156,729 | +€130,229 | +491% |
| Amounts payable within one year | 42/48 | €92,631 | €127,286 | +€34,656 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €2,928 | €27,203 | +€24,276 | +829% |
| Financial debts | 43 | €9,000 | €29,554 | +€20,554 | +228% |
| Credit institutions | 430/8 | €9,000 | €29,554 | +€20,554 | +228% |
| Trade debts | 44 | €29,117 | €28,184 | -€933 | -3.2% |
| Suppliers | 440/4 | €29,117 | €28,184 | -€933 | -3.2% |
| Taxes, remuneration and social security | 45 | €11,586 | €12,346 | +€759 | +6.6% |
| Taxes | 450/3 | €11,586 | €12,346 | +€759 | +6.6% |
| Other amounts payable | 47/48 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Non-recurring operating income | 76A | €34,908 | €0 | -€34,908 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,979 | €10,899 | +€6,920 | +174% |
| Other operating charges | 640/8 | €517 | €524 | +€7 | +1.3% |
| Gross operating margin | 9900 | €83,221 | €80,583 | -€2,638 | -3.2% |
| Operating profit (loss) | 9901 | €78,725 | €69,161 | -€9,564 | -12.1% |
| Financial income | 75/76B | €4,260 | €3,717 | -€543 | -12.8% |
| Recurring financial income | 75 | €4,260 | €3,717 | -€543 | -12.8% |
| Financial charges | 65/66B | €2,095 | €6,751 | +€4,656 | +222% |
| Recurring financial charges | 65 | €2,095 | €6,751 | +€4,656 | +222% |
| Profit (loss) for the period before taxes | 9903 | €80,890 | €66,127 | -€14,763 | -18.3% |
| Income taxes | 67/77 | €17,325 | €13,966 | -€3,359 | -19.4% |
| Profit (loss) for the period | 9904 | €63,565 | €52,161 | -€11,404 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,565 | €52,161 | -€11,404 | -17.9% |
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 15 October 2026 via checked.be.