ZEYNEL: 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.
ZEYNEL
Largest movements
- Receivables after one year +€25,000
new in 2025: €25,000
- Cash -€19,939
down €19,939 (-33.4%), from €59,757 to €39,818
mainly Receivables after one year (-€25,000) and Other debts (-€8,809)
- Deferred charges and accrued income -€12,668
down €12,668 (-100.0%), from €12,668 to €0
- Other debts -€8,809
down €8,809 (-96.5%), from €9,129 to €320
- Reserves +€4,124
up €4,124 (+8.1%), from €50,964 to €55,088
of which Distributable reserves: +€5,979
- Trade debts -€2,584
down €2,584 (-50.3%), from €5,132 to €2,548
- Accrued charges and deferred income -€1,500
down €1,500 (-42.9%), from €3,500 to €2,000
- Tax, wage and social debts +€1,358
up €1,358 (+41.2%), from €3,298 to €4,655
- Gross operating margin -€12,748
down €12,748 (-53.8%), from €23,688 to €10,940
- Staff costs -€3,151
down €3,151 (-41.0%), from €7,680 to €4,528
- Taxes -€1,443
down €1,443 (-47.3%), from €3,049 to €1,606
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 | €78,222 | €70,144 | -€8,079 | -10.3% |
| Current assets | 29/58 | €78,222 | €70,144 | -€8,079 | -10.3% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Stocks and contracts in progress | 3 | €476 | €31 | -€445 | -93.4% |
| Stocks | 30/36 | €476 | €31 | -€445 | -93.4% |
| Amounts receivable within one year | 40/41 | €5,321 | €5,295 | -€26 | -0.5% |
| Trade receivables | 40 | €5,321 | €4,375 | -€946 | -17.8% |
| Other amounts receivable | 41 | - | €919 | +€919 | |
| Cash at bank and in hand | 54/58 | €59,757 | €39,818 | -€19,939 | -33.4% |
| Deferred charges and accrued income | 490/1 | €12,668 | €0 | -€12,668 | -100.0% |
| Total equity and liabilities | 10/49 | €78,222 | €70,144 | -€8,079 | -10.3% |
| Equity | 10/15 | €57,164 | €60,620 | +€3,456 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,964 | €55,088 | +€4,124 | +8.1% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €49,109 | €55,088 | +€5,979 | +12.2% |
| Profit (loss) carried forward | 14 | - | -€668 | -€668 | |
| Amounts payable | 17/49 | €21,058 | €9,524 | -€11,535 | -54.8% |
| Amounts payable within one year | 42/48 | €17,558 | €7,524 | -€10,035 | -57.2% |
| Trade debts | 44 | €5,132 | €2,548 | -€2,584 | -50.3% |
| Suppliers | 440/4 | €5,132 | €2,548 | -€2,584 | -50.3% |
| Taxes, remuneration and social security | 45 | €3,298 | €4,655 | +€1,358 | +41.2% |
| Taxes | 450/3 | €3,298 | €4,655 | +€1,358 | +41.2% |
| Other amounts payable | 47/48 | €9,129 | €320 | -€8,809 | -96.5% |
| Accrued charges and deferred income | 492/3 | €3,500 | €2,000 | -€1,500 | -42.9% |
| Remuneration, social security and pensions | 62 | €7,680 | €4,528 | -€3,151 | -41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €226 | €0 | -€226 | -100.0% |
| Other operating charges | 640/8 | €528 | €757 | +€229 | +43.5% |
| Gross operating margin | 9900 | €23,688 | €10,940 | -€12,748 | -53.8% |
| Operating profit (loss) | 9901 | €15,254 | €5,654 | -€9,599 | -62.9% |
| Financial income | 75/76B | €344 | €373 | +€29 | +8.5% |
| Recurring financial income | 75 | €344 | €373 | +€29 | +8.5% |
| Financial charges | 65/66B | €352 | €297 | -€55 | -15.5% |
| Recurring financial charges | 65 | €352 | €297 | -€55 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €15,246 | €5,730 | -€9,516 | -62.4% |
| Income taxes | 67/77 | €3,049 | €1,606 | -€1,443 | -47.3% |
| Profit (loss) for the period | 9904 | €12,196 | €4,124 | -€8,072 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,196 | €4,124 | -€8,072 | -66.2% |
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 30 September 2026 via checked.be.