ZG SOLUTION: 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 SOLUTION
Largest movements
- Receivables within one year +€140,590
up €140,590 (+120%), from €116,759 to €257,349
of which Trade receivables: +€148,586
- Cash +€22,844
up €22,844 (+27.2%), from €83,834 to €106,677
mainly Trade debts (+€74,127) and Net result for the year (+€52,067)
- Trade debts +€74,127
up €74,127 (+62.6%), from €118,387 to €192,515
- Advances received +€35,995
up €35,995 (+150%), from €23,920 to €59,914
- Other debts +€33,754
up €33,754 (+1,192%), from €2,832 to €36,585
- Profit (loss) carried forward +€15,482
up €15,482 (+21.6%), from €71,645 to €87,126
- Gross operating margin +€14,877
up €14,877 (+27.9%), from €53,397 to €68,274
- Taxes +€8,902
up €8,902 (+203%), from €4,390 to €13,293
- Purchases and services +€7,038
up €7,038 (+0.9%), from €746,944 to €753,982
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 | €219,787 | €381,141 | +€161,354 | +73.4% |
| Fixed assets | 21/28 | €19,195 | €17,115 | -€2,080 | -10.8% |
| Tangible fixed assets | 22/27 | €6,800 | €4,720 | -€2,080 | -30.6% |
| Furniture and vehicles | 24 | €6,800 | €4,720 | -€2,080 | -30.6% |
| Financial fixed assets | 28 | €12,395 | €12,395 | = | 0.0% |
| Current assets | 29/58 | €200,592 | €364,026 | +€163,434 | +81.5% |
| Amounts receivable within one year | 40/41 | €116,759 | €257,349 | +€140,590 | +120% |
| Trade receivables | 40 | €104,740 | €253,326 | +€148,586 | +142% |
| Other amounts receivable | 41 | €12,019 | €4,023 | -€7,996 | -66.5% |
| Cash at bank and in hand | 54/58 | €83,834 | €106,677 | +€22,844 | +27.2% |
| Total equity and liabilities | 10/49 | €219,787 | €381,141 | +€161,354 | +73.4% |
| Equity | 10/15 | €74,145 | €92,126 | +€17,982 | +24.3% |
| Contributions | 10/11 | €2,500 | €5,000 | +€2,500 | +100% |
| Profit (loss) carried forward | 14 | €71,645 | €87,126 | +€15,482 | +21.6% |
| Amounts payable | 17/49 | €145,643 | €289,015 | +€143,372 | +98.4% |
| Amounts payable within one year | 42/48 | €145,643 | €289,015 | +€143,372 | +98.4% |
| Trade debts | 44 | €118,387 | €192,515 | +€74,127 | +62.6% |
| Suppliers | 440/4 | €118,387 | €192,515 | +€74,127 | +62.6% |
| Advances received on contracts in progress | 46 | €23,920 | €59,914 | +€35,995 | +150% |
| Taxes, remuneration and social security | 45 | €504 | - | -€504 | |
| Taxes | 450/3 | €504 | - | -€504 | |
| Other amounts payable | 47/48 | €2,832 | €36,585 | +€33,754 | +1,192% |
| Non-recurring operating income | 76A | €4,369 | - | -€4,369 | |
| Goods, raw materials, services and sundry goods | 60/61 | €746,944 | €753,982 | +€7,038 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,080 | €2,080 | = | 0.0% |
| Other operating charges | 640/8 | €385 | €875 | +€489 | +127% |
| Gross operating margin | 9900 | €53,397 | €68,274 | +€14,877 | +27.9% |
| Operating profit (loss) | 9901 | €50,932 | €65,319 | +€14,388 | +28.2% |
| Financial income | 75/76B | - | €200 | +€200 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Non-recurring financial income | 76B | - | €197 | +€197 | |
| Financial charges | 65/66B | €213 | €159 | -€54 | -25.2% |
| Recurring financial charges | 65 | €213 | €159 | -€54 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €50,719 | €65,360 | +€14,641 | +28.9% |
| Income taxes | 67/77 | €4,390 | €13,293 | +€8,902 | +203% |
| Profit (loss) for the period | 9904 | €46,328 | €52,067 | +€5,739 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,328 | €52,067 | +€5,739 | +12.4% |
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 14 October 2026 via checked.be.