ZH CONCEPT: 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.
ZH CONCEPT
Largest movements
- Cash +€9,788
up €9,788 (+23.0%), from €42,470 to €52,258
mainly Net result for the year (+€16,942) and Trade debts (+€538)
- Receivables within one year +€988
up €988 (+33.6%), from €2,942 to €3,930
of which Trade receivables: +€3,930
- Profit (loss) carried forward +€16,942
up €16,942 (+60.5%), from €27,997 to €44,939
- Other debts -€5,346
down €5,346 (-64.2%), from €8,329 to €2,983
- Tax, wage and social debts -€1,339
down €1,339 (-18.9%), from €7,086 to €5,747
- Gross operating margin -€13,648
down €13,648 (-38.9%), from €35,098 to €21,450
- Taxes -€2,676
down €2,676 (-37.8%), from €7,086 to €4,410
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 | €46,018 | €56,812 | +€10,794 | +23.5% |
| Current assets | 29/58 | €46,018 | €56,812 | +€10,794 | +23.5% |
| Amounts receivable within one year | 40/41 | €2,942 | €3,930 | +€988 | +33.6% |
| Trade receivables | 40 | - | €3,930 | +€3,930 | |
| Other amounts receivable | 41 | €2,942 | - | -€2,942 | |
| Cash at bank and in hand | 54/58 | €42,470 | €52,258 | +€9,788 | +23.0% |
| Deferred charges and accrued income | 490/1 | €606 | €624 | +€18 | +3.0% |
| Total equity and liabilities | 10/49 | €46,018 | €56,812 | +€10,794 | +23.5% |
| Equity | 10/15 | €29,997 | €46,939 | +€16,942 | +56.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,997 | €44,939 | +€16,942 | +60.5% |
| Amounts payable | 17/49 | €16,021 | €9,873 | -€6,147 | -38.4% |
| Amounts payable within one year | 42/48 | €16,021 | €9,873 | -€6,147 | -38.4% |
| Trade debts | 44 | €605 | €1,144 | +€538 | +88.9% |
| Suppliers | 440/4 | €605 | €1,144 | +€538 | +88.9% |
| Taxes, remuneration and social security | 45 | €7,086 | €5,747 | -€1,339 | -18.9% |
| Taxes | 450/3 | €7,086 | €5,747 | -€1,339 | -18.9% |
| Other amounts payable | 47/48 | €8,329 | €2,983 | -€5,346 | -64.2% |
| Gross operating margin | 9900 | €35,098 | €21,450 | -€13,648 | -38.9% |
| Operating profit (loss) | 9901 | €35,098 | €21,450 | -€13,648 | -38.9% |
| Financial income | 75/76B | €2 | €6 | +€5 | +257.5% |
| Recurring financial income | 75 | €2 | €6 | +€5 | +257.5% |
| Financial charges | 65/66B | €17 | €105 | +€88 | +521.7% |
| Recurring financial charges | 65 | €17 | €105 | +€88 | +521.7% |
| Profit (loss) for the period before taxes | 9903 | €35,083 | €21,352 | -€13,731 | -39.1% |
| Income taxes | 67/77 | €7,086 | €4,410 | -€2,676 | -37.8% |
| Profit (loss) for the period | 9904 | €27,997 | €16,942 | -€11,055 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,997 | €16,942 | -€11,055 | -39.5% |
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 3 October 2026 via checked.be.