ZHEN: 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.
ZHEN
Largest movements
- Cash +€23,770
up €23,770 (+66.8%), from €35,562 to €59,332
mainly Net result for the year (+€35,859) and Depreciation (+€7,684)
- Tangible fixed assets -€6,013
down €6,013 (-16.9%), from €35,684 to €29,671
- Stocks and contracts +€2,837
up €2,837 (+510.2%), from €556 to €3,394
- Receivables within one year -€1,694
down €1,694 (-13.9%), from €12,184 to €10,490
of which Trade receivables: -€3,676
- Profit (loss) carried forward +€20,859
up €20,859 (+252.8%), from €8,252 to €29,111
- Other debts -€7,452
down €7,452 (-31.9%), from €23,361 to €15,910
- Tax, wage and social debts +€3,959
up €3,959 (+59.1%), from €6,695 to €10,655
of which Taxes: +€4,358
- Trade debts +€1,623
up €1,623 (+9.7%), from €16,671 to €18,294
- Staff costs -€13,854
down €13,854 (-73.8%), from €18,762 to €4,909
- Gross operating margin +€7,429
up €7,429 (+14.2%), from €52,426 to €59,854
- Taxes +€5,145
up €5,145 (+180.4%), from €2,851 to €7,996
- Other operating charges +€1,390
up €1,390 (+83.7%), from €1,660 to €3,050
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 | €84,980 | €103,969 | +€18,989 | +22.3% |
| Fixed assets | 21/28 | €36,477 | €30,177 | -€6,300 | -17.3% |
| Intangible fixed assets | 21 | €793 | €506 | -€287 | -36.2% |
| Tangible fixed assets | 22/27 | €35,684 | €29,671 | -€6,013 | -16.9% |
| Land and buildings | 22 | €12,035 | €10,116 | -€1,918 | -15.9% |
| Plant, machinery and equipment | 23 | €6,186 | €4,340 | -€1,846 | -29.8% |
| Furniture and vehicles | 24 | €17,463 | €15,214 | -€2,249 | -12.9% |
| Current assets | 29/58 | €48,504 | €73,792 | +€25,288 | +52.1% |
| Stocks and contracts in progress | 3 | €556 | €3,394 | +€2,837 | +510.2% |
| Stocks | 30/36 | €556 | €3,394 | +€2,837 | +510.2% |
| Amounts receivable within one year | 40/41 | €12,184 | €10,490 | -€1,694 | -13.9% |
| Trade receivables | 40 | €12,155 | €8,479 | -€3,676 | -30.2% |
| Other amounts receivable | 41 | €29 | €2,011 | +€1,982 | +6805.3% |
| Cash at bank and in hand | 54/58 | €35,562 | €59,332 | +€23,770 | +66.8% |
| Deferred charges and accrued income | 490/1 | €201 | €577 | +€375 | +186.3% |
| Total equity and liabilities | 10/49 | €84,980 | €103,969 | +€18,989 | +22.3% |
| Equity | 10/15 | €38,252 | €59,111 | +€20,859 | +54.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,252 | €29,111 | +€20,859 | +252.8% |
| Amounts payable | 17/49 | €46,728 | €44,858 | -€1,870 | -4.0% |
| Amounts payable within one year | 42/48 | €46,728 | €44,858 | -€1,870 | -4.0% |
| Trade debts | 44 | €16,671 | €18,294 | +€1,623 | +9.7% |
| Suppliers | 440/4 | €16,671 | €18,294 | +€1,623 | +9.7% |
| Taxes, remuneration and social security | 45 | €6,695 | €10,655 | +€3,959 | +59.1% |
| Taxes | 450/3 | €3,986 | €8,344 | +€4,358 | +109.3% |
| Remuneration and social security | 454/9 | €2,709 | €2,311 | -€399 | -14.7% |
| Other amounts payable | 47/48 | €23,361 | €15,910 | -€7,452 | -31.9% |
| Remuneration, social security and pensions | 62 | €18,762 | €4,909 | -€13,854 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,215 | €7,684 | +€468 | +6.5% |
| Other operating charges | 640/8 | €1,660 | €3,050 | +€1,390 | +83.7% |
| Gross operating margin | 9900 | €52,426 | €59,854 | +€7,429 | +14.2% |
| Operating profit (loss) | 9901 | €24,788 | €44,212 | +€19,424 | +78.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €648 | €358 | -€290 | -44.8% |
| Recurring financial charges | 65 | €648 | €358 | -€290 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €24,140 | €43,854 | +€19,715 | +81.7% |
| Income taxes | 67/77 | €2,851 | €7,996 | +€5,145 | +180.4% |
| Profit (loss) for the period | 9904 | €21,288 | €35,859 | +€14,570 | +68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,288 | €35,859 | +€14,570 | +68.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.