ZMACK-FACE: 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.
ZMACK-FACE
Largest movements
- Receivables within one year +€94,680
up €94,680 (+478.0%), from €19,806 to €114,487
of which Trade receivables: +€80,763
- Cash -€33,780
down €33,780 (-63.4%), from €53,320 to €19,540
mainly Receivables within one year (-€94,680) and Trade debts (-€10,363)
- Tangible fixed assets -€1,665
down €1,665 (-10.2%), from €16,363 to €14,698
- Reserves +€41,290
new in 2025: €41,290
- Tax, wage and social debts +€13,763
new in 2025: €13,763
- Trade debts -€10,363
down €10,363 (-40.8%), from €25,393 to €15,030
- Profit (loss) carried forward +€8,884
no longer reported in 2025 (was -€8,884)
- Other debts +€4,766
up €4,766 (+6.9%), from €68,874 to €73,641
- Gross operating margin +€76,461
up €76,461, from -€8,597 to €67,864
- Taxes +€13,763
new in 2025: €13,763
- Financial charges +€2,142
up €2,142 (+21420000.0%), from €0 to €2,142
- Depreciation +€1,378
up €1,378 (+479.4%), from €287 to €1,665
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 | €90,384 | €148,724 | +€58,340 | +64.5% |
| Fixed assets | 21/28 | €16,363 | €14,698 | -€1,665 | -10.2% |
| Tangible fixed assets | 22/27 | €16,363 | €14,698 | -€1,665 | -10.2% |
| Plant, machinery and equipment | 23 | €16,363 | €14,698 | -€1,665 | -10.2% |
| Current assets | 29/58 | €74,021 | €134,026 | +€60,005 | +81.1% |
| Stocks and contracts in progress | 3 | €895 | - | -€895 | |
| Stocks | 30/36 | €895 | - | -€895 | |
| Amounts receivable within one year | 40/41 | €19,806 | €114,487 | +€94,680 | +478.0% |
| Trade receivables | 40 | €18,330 | €99,094 | +€80,763 | +440.6% |
| Other amounts receivable | 41 | €1,476 | €15,393 | +€13,917 | +942.8% |
| Cash at bank and in hand | 54/58 | €53,320 | €19,540 | -€33,780 | -63.4% |
| Total equity and liabilities | 10/49 | €90,384 | €148,724 | +€58,340 | +64.5% |
| Equity | 10/15 | -€3,884 | €46,290 | +€50,174 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €41,290 | +€41,290 | |
| Distributable reserves | 133 | - | €41,290 | +€41,290 | |
| Profit (loss) carried forward | 14 | -€8,884 | - | +€8,884 | |
| Amounts payable | 17/49 | €94,268 | €102,434 | +€8,166 | +8.7% |
| Amounts payable within one year | 42/48 | €94,268 | €102,434 | +€8,166 | +8.7% |
| Trade debts | 44 | €25,393 | €15,030 | -€10,363 | -40.8% |
| Suppliers | 440/4 | €25,393 | €15,030 | -€10,363 | -40.8% |
| Taxes, remuneration and social security | 45 | - | €13,763 | +€13,763 | |
| Taxes | 450/3 | - | €13,763 | +€13,763 | |
| Other amounts payable | 47/48 | €68,874 | €73,641 | +€4,766 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €1,665 | +€1,378 | +479.4% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | -€8,597 | €67,864 | +€76,461 | |
| Operating profit (loss) | 9901 | -€8,884 | €66,079 | +€74,963 | |
| Financial charges | 65/66B | €0 | €2,142 | +€2,142 | +21420000.0% |
| Recurring financial charges | 65 | €0 | €2,142 | +€2,142 | +21420000.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,884 | €63,937 | +€72,821 | |
| Income taxes | 67/77 | - | €13,763 | +€13,763 | |
| Profit (loss) for the period | 9904 | -€8,884 | €50,174 | +€59,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,884 | €50,174 | +€59,058 |
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 7 October 2026 via checked.be.