ZM CONSTRUCT: 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 CONSTRUCT
Largest movements
- Tangible fixed assets -€62,741
no longer reported in 2025 (was €62,741)
- Receivables within one year -€38,332
down €38,332 (-31.4%), from €122,177 to €83,845
of which Trade receivables: -€25,336
- Cash +€20,440
new in 2025: €20,440
mainly Investment in fixed assets (net) (+€62,742) and Receivables within one year (+€38,332)
- Stocks and contracts -€11,955
no longer reported in 2025 (was €11,955)
- Deferred charges and accrued income -€3,251
no longer reported in 2025 (was €3,251)
- Debts after one year -€55,315
no longer reported in 2025 (was €55,315)
- Current portion of long-term debt -€14,932
down €14,932 (-56.8%), from €26,307 to €11,375
- Profit (loss) carried forward -€9,698
down €9,698, from €7,280 to -€2,418
- Trade debts -€8,080
down €8,080 (-19.3%), from €41,905 to €33,826
- Other debts -€5,502
down €5,502 (-16.9%), from €32,529 to €27,027
- Gross operating margin -€30,889
down €30,889 (-91.8%), from €33,654 to €2,765
- Depreciation -€15,787
no longer reported in 2025 (was €15,787)
- Other operating charges -€6,086
no longer reported in 2025 (was €6,086)
- Taxes -€1,813
no longer reported in 2025 (was €1,813)
- Financial charges +€871
up €871 (+7.4%), from €11,704 to €12,575
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 | €201,872 | €106,032 | -€95,840 | -47.5% |
| Fixed assets | 21/28 | €63,016 | €275 | -€62,742 | -99.6% |
| Tangible fixed assets | 22/27 | €62,741 | - | -€62,741 | |
| Leasing and similar rights | 25 | €62,741 | - | -€62,741 | |
| Financial fixed assets | 28 | €275 | €275 | -€1 | -0.2% |
| Current assets | 29/58 | €138,856 | €105,758 | -€33,098 | -23.8% |
| Amounts receivable after more than one year | 29 | €1,473 | €1,473 | -€0 | 0.0% |
| Other amounts receivable | 291 | €1,473 | €1,473 | -€0 | 0.0% |
| Stocks and contracts in progress | 3 | €11,955 | - | -€11,955 | |
| Stocks | 30/36 | €11,955 | - | -€11,955 | |
| Amounts receivable within one year | 40/41 | €122,177 | €83,845 | -€38,332 | -31.4% |
| Trade receivables | 40 | €108,706 | €83,370 | -€25,336 | -23.3% |
| Other amounts receivable | 41 | €13,471 | €475 | -€12,997 | -96.5% |
| Cash at bank and in hand | 54/58 | - | €20,440 | +€20,440 | |
| Deferred charges and accrued income | 490/1 | €3,251 | - | -€3,251 | |
| Total equity and liabilities | 10/49 | €201,872 | €106,032 | -€95,840 | -47.5% |
| Equity | 10/15 | €9,480 | -€218 | -€9,698 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,280 | -€2,418 | -€9,698 | |
| Amounts payable | 17/49 | €192,392 | €106,250 | -€86,142 | -44.8% |
| Amounts payable after more than one year | 17 | €55,315 | - | -€55,315 | |
| Financial debts | 170/4 | €55,315 | - | -€55,315 | |
| Amounts payable within one year | 42/48 | €137,077 | €106,250 | -€30,827 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €26,307 | €11,375 | -€14,932 | -56.8% |
| Financial debts | 43 | €30,006 | €30,000 | -€6 | 0.0% |
| Credit institutions | 430/8 | €30,006 | €30,000 | -€6 | 0.0% |
| Trade debts | 44 | €41,905 | €33,826 | -€8,080 | -19.3% |
| Suppliers | 440/4 | €41,905 | €33,826 | -€8,080 | -19.3% |
| Taxes, remuneration and social security | 45 | €6,330 | €4,022 | -€2,308 | -36.5% |
| Taxes | 450/3 | €6,205 | €4,022 | -€2,183 | -35.2% |
| Remuneration and social security | 454/9 | €125 | - | -€125 | |
| Other amounts payable | 47/48 | €32,529 | €27,027 | -€5,502 | -16.9% |
| Non-recurring operating income | 76A | €6,158 | €6,671 | +€513 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,787 | - | -€15,787 | |
| Other operating charges | 640/8 | €6,086 | - | -€6,086 | |
| Non-recurring operating charges | 66A | - | -€112 | -€112 | |
| Gross operating margin | 9900 | €33,654 | €2,765 | -€30,889 | -91.8% |
| Operating profit (loss) | 9901 | €11,781 | €2,877 | -€8,904 | -75.6% |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -99.5% |
| Financial charges | 65/66B | €11,704 | €12,575 | +€871 | +7.4% |
| Recurring financial charges | 65 | €11,704 | €12,575 | +€871 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €79 | -€9,698 | -€9,777 | |
| Income taxes | 67/77 | €1,813 | - | -€1,813 | |
| Profit (loss) for the period | 9904 | -€1,734 | -€9,698 | -€7,964 | -459.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,734 | -€9,698 | -€7,964 | -459.3% |
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 9 October 2026 via checked.be.