ZHANO: 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.
ZHANO
Largest movements
- Cash +€20,861
up €20,861 (+736.3%), from €2,833 to €23,694
mainly Net result for the year (+€17,365) and Depreciation (+€7,315)
- Receivables within one year +€8,962
up €8,962 (+29.4%), from €30,495 to €39,457
of which Other amounts receivable: +€8,962
- Tangible fixed assets -€7,315
down €7,315 (-39.6%), from €18,484 to €11,170
of which Furniture and vehicles: -€5,629
- Deferred charges and accrued income -€3,554
down €3,554 (-96.8%), from €3,670 to €116
- Profit (loss) carried forward +€17,365
up €17,365 (+33.3%), from €52,196 to €69,561
- Trade debts +€1,269
up €1,269 (+33.2%), from €3,827 to €5,097
- Staff costs -€6,815
down €6,815, from €6,489 to -€325
- Other operating charges -€1,933
down €1,933 (-62.4%), from €3,095 to €1,162
- Depreciation -€755
down €755 (-9.4%), from €8,070 to €7,315
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 | €73,215 | €91,777 | +€18,563 | +25.4% |
| Fixed assets | 21/28 | €18,984 | €11,670 | -€7,315 | -38.5% |
| Tangible fixed assets | 22/27 | €18,484 | €11,170 | -€7,315 | -39.6% |
| Plant, machinery and equipment | 23 | €6,889 | €5,203 | -€1,686 | -24.5% |
| Furniture and vehicles | 24 | €11,595 | €5,967 | -€5,629 | -48.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €54,230 | €80,108 | +€25,877 | +47.7% |
| Stocks and contracts in progress | 3 | €17,232 | €16,840 | -€392 | -2.3% |
| Stocks | 30/36 | €17,232 | €16,840 | -€392 | -2.3% |
| Amounts receivable within one year | 40/41 | €30,495 | €39,457 | +€8,962 | +29.4% |
| Trade receivables | 40 | €2,525 | €2,525 | = | 0.0% |
| Other amounts receivable | 41 | €27,971 | €36,933 | +€8,962 | +32.0% |
| Cash at bank and in hand | 54/58 | €2,833 | €23,694 | +€20,861 | +736.3% |
| Deferred charges and accrued income | 490/1 | €3,670 | €116 | -€3,554 | -96.8% |
| Total equity and liabilities | 10/49 | €73,215 | €91,777 | +€18,563 | +25.4% |
| Equity | 10/15 | €68,316 | €85,681 | +€17,365 | +25.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €9,920 | €9,920 | = | 0.0% |
| Distributable reserves | 133 | €9,920 | €9,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,196 | €69,561 | +€17,365 | +33.3% |
| Amounts payable | 17/49 | €4,899 | €6,096 | +€1,197 | +24.4% |
| Amounts payable after more than one year | 17 | €23 | €23 | = | 0.0% |
| Other amounts payable | 178/9 | €23 | €23 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,876 | €6,074 | +€1,197 | +24.6% |
| Trade debts | 44 | €3,827 | €5,097 | +€1,269 | +33.2% |
| Suppliers | 440/4 | €3,827 | €5,097 | +€1,269 | +33.2% |
| Taxes, remuneration and social security | 45 | €1,049 | €977 | -€72 | -6.9% |
| Taxes | 450/3 | €1,049 | €977 | -€72 | -6.9% |
| Remuneration, social security and pensions | 62 | €6,489 | -€325 | -€6,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,070 | €7,315 | -€755 | -9.4% |
| Other operating charges | 640/8 | €3,095 | €1,162 | -€1,933 | -62.4% |
| Gross operating margin | 9900 | €25,644 | €25,738 | +€94 | +0.4% |
| Operating profit (loss) | 9901 | €7,990 | €17,587 | +€9,596 | +120.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €46 | €45 | -€1 | -2.2% |
| Recurring financial charges | 65 | €46 | €45 | -€1 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €7,944 | €17,542 | +€9,597 | +120.8% |
| Income taxes | 67/77 | - | €176 | +€176 | |
| Profit (loss) for the period | 9904 | €7,944 | €17,365 | +€9,421 | +118.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,944 | €17,365 | +€9,421 | +118.6% |
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.