ZG: 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.
ZG
Largest movements
- Tangible fixed assets +€53,974
new in 2025: €53,974
- Cash -€7,480
down €7,480 (-22.7%), from €32,888 to €25,408
mainly Investment in fixed assets (net) (-€67,467) and Other debts (-€5,712)
- Receivables within one year +€1,642
up €1,642 (+67.0%), from €2,451 to €4,092
of which Trade receivables: +€3,961
- Debts after one year +€36,186
new in 2025: €36,186
- Current portion of long-term debt +€11,051
new in 2025: €11,051
- Other debts -€5,712
down €5,712 (-92.4%), from €6,182 to €470
- Trade debts +€3,959
up €3,959 (+2888.2%), from €137 to €4,096
- Profit (loss) carried forward +€2,495
up €2,495 (+9.4%), from €26,519 to €29,014
- Gross operating margin +€15,892
up €15,892 (+721.7%), from €2,202 to €18,094
- Depreciation +€13,493
new in 2025: €13,493
- Taxes -€2,253
down €2,253 (-78.4%), from €2,873 to €620
- Financial income -€1,538
down €1,538 (-80.9%), from €1,901 to €363
of which Financial income: -€1,538
- Other operating charges +€578
up €578 (+84.8%), from €682 to €1,260
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 | €35,339 | €83,474 | +€48,135 | +136.2% |
| Fixed assets | 21/28 | - | €53,974 | +€53,974 | |
| Tangible fixed assets | 22/27 | - | €53,974 | +€53,974 | |
| Furniture and vehicles | 24 | - | €53,974 | +€53,974 | |
| Current assets | 29/58 | €35,339 | €29,501 | -€5,838 | -16.5% |
| Amounts receivable within one year | 40/41 | €2,451 | €4,092 | +€1,642 | +67.0% |
| Trade receivables | 40 | €131 | €4,092 | +€3,961 | +3022.1% |
| Other amounts receivable | 41 | €2,320 | - | -€2,320 | |
| Cash at bank and in hand | 54/58 | €32,888 | €25,408 | -€7,480 | -22.7% |
| Total equity and liabilities | 10/49 | €35,339 | €83,474 | +€48,135 | +136.2% |
| Equity | 10/15 | €29,019 | €31,514 | +€2,495 | +8.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,519 | €29,014 | +€2,495 | +9.4% |
| Amounts payable | 17/49 | €6,320 | €51,960 | +€45,640 | +722.2% |
| Amounts payable after more than one year | 17 | - | €36,186 | +€36,186 | |
| Financial debts | 170/4 | - | €36,186 | +€36,186 | |
| Amounts payable within one year | 42/48 | €6,320 | €15,774 | +€9,455 | +149.6% |
| Current portion of amounts payable after more than one year | 42 | - | €11,051 | +€11,051 | |
| Trade debts | 44 | €137 | €4,096 | +€3,959 | +2888.2% |
| Suppliers | 440/4 | €137 | €4,096 | +€3,959 | +2888.2% |
| Taxes, remuneration and social security | 45 | - | €156 | +€156 | |
| Taxes | 450/3 | - | €156 | +€156 | |
| Other amounts payable | 47/48 | €6,182 | €470 | -€5,712 | -92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,493 | +€13,493 | |
| Other operating charges | 640/8 | €682 | €1,260 | +€578 | +84.8% |
| Gross operating margin | 9900 | €2,202 | €18,094 | +€15,892 | +721.7% |
| Operating profit (loss) | 9901 | €1,520 | €3,340 | +€1,820 | +119.7% |
| Financial income | 75/76B | €1,901 | €363 | -€1,538 | -80.9% |
| Recurring financial income | 75 | €1,901 | €363 | -€1,538 | -80.9% |
| Non-recurring financial income | 76B | €1,901 | €363 | -€1,538 | -80.9% |
| Financial charges | 65/66B | €190 | €588 | +€398 | +208.8% |
| Recurring financial charges | 65 | €190 | €588 | +€398 | +208.8% |
| Profit (loss) for the period before taxes | 9903 | €3,231 | €3,115 | -€116 | -3.6% |
| Income taxes | 67/77 | €2,873 | €620 | -€2,253 | -78.4% |
| Profit (loss) for the period | 9904 | €358 | €2,495 | +€2,137 | +596.9% |
| Profit (loss) for the period to be appropriated | 9905 | €358 | €2,495 | +€2,137 | +596.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.