ZM & CO: 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.
ZM & CO
Largest movements
- Cash +€8,693
up €8,693 (+337%), from €2,580 to €11,273
mainly Net result for the year (+€8,856) and Trade debts (+€5,244)
- Receivables within one year +€4,646
up €4,646 (+75.3%), from €6,173 to €10,819
of which Trade receivables: +€2,370
- Intangible fixed assets -€400
down €400 (-34.5%), from €1,159 to €759
- Profit (loss) carried forward +€8,856
up €8,856 (+31.2%), from -€28,340 to -€19,484
- Trade debts +€5,244
up €5,244 (+74.0%), from €7,091 to €12,335
- Other debts -€2,721
down €2,721 (-8.7%), from €31,354 to €28,633
- Tax, wage and social debts +€1,842
up €1,842 (+280%), from €657 to €2,499
of which Remuneration and social security: +€2,078
- Gross operating margin +€21,495
up €21,495 (+330%), from €6,515 to €28,010
- Write-downs +€4,970
new in 2025: €4,970
- Staff costs +€2,481
up €2,481 (+27.7%), from €8,966 to €11,447
- Depreciation +€568
up €568 (+33.6%), from €1,690 to €2,258
- Financial income +€324
up €324 (+635%), from €51 to €375
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 | €13,262 | €26,483 | +€13,221 | +99.7% |
| Fixed assets | 21/28 | €4,509 | €4,233 | -€276 | -6.1% |
| Intangible fixed assets | 21 | €1,159 | €759 | -€400 | -34.5% |
| Tangible fixed assets | 22/27 | €3,074 | €3,198 | +€124 | +4.0% |
| Furniture and vehicles | 24 | €3,074 | €3,198 | +€124 | +4.0% |
| Financial fixed assets | 28 | €276 | €276 | = | 0.0% |
| Current assets | 29/58 | €8,753 | €22,250 | +€13,497 | +154% |
| Amounts receivable within one year | 40/41 | €6,173 | €10,819 | +€4,646 | +75.3% |
| Trade receivables | 40 | €5,893 | €8,263 | +€2,370 | +40.2% |
| Other amounts receivable | 41 | €280 | €2,556 | +€2,276 | +813% |
| Cash at bank and in hand | 54/58 | €2,580 | €11,273 | +€8,693 | +337% |
| Deferred charges and accrued income | 490/1 | - | €158 | +€158 | |
| Total equity and liabilities | 10/49 | €13,262 | €26,483 | +€13,221 | +99.7% |
| Equity | 10/15 | -€25,840 | -€16,984 | +€8,856 | +34.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,340 | -€19,484 | +€8,856 | +31.2% |
| Amounts payable | 17/49 | €39,102 | €43,467 | +€4,365 | +11.2% |
| Amounts payable within one year | 42/48 | €39,102 | €43,467 | +€4,365 | +11.2% |
| Trade debts | 44 | €7,091 | €12,335 | +€5,244 | +74.0% |
| Suppliers | 440/4 | €7,091 | €12,335 | +€5,244 | +74.0% |
| Taxes, remuneration and social security | 45 | €657 | €2,499 | +€1,842 | +280% |
| Taxes | 450/3 | €657 | €421 | -€236 | -35.9% |
| Remuneration and social security | 454/9 | - | €2,078 | +€2,078 | |
| Other amounts payable | 47/48 | €31,354 | €28,633 | -€2,721 | -8.7% |
| Remuneration, social security and pensions | 62 | €8,966 | €11,447 | +€2,481 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,690 | €2,258 | +€568 | +33.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,970 | +€4,970 | |
| Other operating charges | 640/8 | €812 | €594 | -€218 | -26.8% |
| Non-recurring operating charges | 66A | €1,343 | - | -€1,343 | |
| Gross operating margin | 9900 | €6,515 | €28,010 | +€21,495 | +330% |
| Operating profit (loss) | 9901 | -€6,296 | €8,741 | +€15,037 | |
| Financial income | 75/76B | €51 | €375 | +€324 | +635% |
| Recurring financial income | 75 | €51 | €375 | +€324 | +635% |
| Financial charges | 65/66B | €230 | €253 | +€23 | +10.0% |
| Recurring financial charges | 65 | €230 | €253 | +€23 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,475 | €8,863 | +€15,338 | |
| Income taxes | 67/77 | €2 | €7 | +€5 | +250% |
| Profit (loss) for the period | 9904 | -€6,477 | €8,856 | +€15,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,477 | €8,856 | +€15,333 |
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 21 October 2026 via checked.be.