ZK Capital: 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.
ZK Capital
Largest movements
- Cash +€32,700
up €32,700 (+553%), from €5,914 to €38,614
mainly Receivables within one year (+€27,999) and Net result for the year (+€8,042)
- Receivables within one year -€27,999
down €27,999 (-95.6%), from €29,273 to €1,274
of which Other amounts receivable: -€17,547
- Trade debts -€8,268
down €8,268 (-85.2%), from €9,701 to €1,434
- Profit (loss) carried forward +€8,042
up €8,042 (+41.0%), from €19,616 to €27,658
- Tax, wage and social debts +€2,890
up €2,890, from €0 to €2,890
- Other debts +€2,236
up €2,236, from €0 to €2,236
- Gross operating margin -€19,658
down €19,658 (-61.6%), from €31,898 to €12,240
- Taxes -€4,336
down €4,336 (-60.0%), from €7,226 to €2,890
- Other operating charges -€2,941
down €2,941 (-70.8%), from €4,153 to €1,212
- Depreciation -€811
down €811 (-100%), from €811 to €0
From the 31-03-2025 result to the 31-12-2025 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 31-03-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,518 | €40,418 | +€4,900 | +13.8% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €35,518 | €40,418 | +€4,900 | +13.8% |
| Amounts receivable within one year | 40/41 | €29,273 | €1,274 | -€27,999 | -95.6% |
| Trade receivables | 40 | €10,452 | €0 | -€10,452 | -100% |
| Other amounts receivable | 41 | €18,821 | €1,274 | -€17,547 | -93.2% |
| Cash at bank and in hand | 54/58 | €5,914 | €38,614 | +€32,700 | +553% |
| Deferred charges and accrued income | 490/1 | €331 | €529 | +€199 | +60.1% |
| Total equity and liabilities | 10/49 | €35,518 | €40,418 | +€4,900 | +13.8% |
| Equity | 10/15 | €25,816 | €33,858 | +€8,042 | +31.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,616 | €27,658 | +€8,042 | +41.0% |
| Amounts payable | 17/49 | €9,701 | €6,560 | -€3,142 | -32.4% |
| Amounts payable within one year | 42/48 | €9,701 | €6,560 | -€3,142 | -32.4% |
| Trade debts | 44 | €9,701 | €1,434 | -€8,268 | -85.2% |
| Suppliers | 440/4 | €9,701 | €1,434 | -€8,268 | -85.2% |
| Taxes, remuneration and social security | 45 | €0 | €2,890 | +€2,890 | |
| Taxes | 450/3 | €0 | €2,890 | +€2,890 | |
| Other amounts payable | 47/48 | €0 | €2,236 | +€2,236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €811 | €0 | -€811 | -100% |
| Other operating charges | 640/8 | €4,153 | €1,212 | -€2,941 | -70.8% |
| Gross operating margin | 9900 | €31,898 | €12,240 | -€19,658 | -61.6% |
| Operating profit (loss) | 9901 | €26,934 | €11,028 | -€15,906 | -59.1% |
| Financial income | 75/76B | €11 | €6 | -€5 | -46.3% |
| Recurring financial income | 75 | €11 | €6 | -€5 | -46.3% |
| Financial charges | 65/66B | €104 | €103 | -€1 | -1.0% |
| Recurring financial charges | 65 | €104 | €103 | -€1 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €26,842 | €10,931 | -€15,911 | -59.3% |
| Income taxes | 67/77 | €7,226 | €2,890 | -€4,336 | -60.0% |
| Profit (loss) for the period | 9904 | €19,616 | €8,042 | -€11,574 | -59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,616 | €8,042 | -€11,574 | -59.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.