ZMLG: 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.
ZMLG
Largest movements
- Receivables within one year +€19,511
up €19,511 (+32.6%), from €59,809 to €79,320
of which Other amounts receivable: +€13,624
- Cash +€2,444
up €2,444 (+15.6%), from €15,692 to €18,136
mainly Net result for the year (+€21,799) and Trade debts (+€4,791)
- Tangible fixed assets +€1,845
up €1,845 (+140.4%), from €1,314 to €3,159
- Profit (loss) carried forward +€10,965
up €10,965 (+177.8%), from €6,169 to €17,134
- Reserves +€10,000
up €10,000 (+33.3%), from €30,000 to €40,000
- Trade debts +€4,791
up €4,791 (+2636.0%), from €182 to €4,973
- Tax, wage and social debts -€1,956
down €1,956 (-5.2%), from €37,464 to €35,508
- Gross operating margin -€41,645
down €41,645 (-55.6%), from €74,862 to €33,217
- Taxes -€9,056
down €9,056 (-50.8%), from €17,817 to €8,761
- Financial charges +€1,283
up €1,283 (+755.6%), from €170 to €1,453
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 | €76,815 | €100,615 | +€23,800 | +31.0% |
| Fixed assets | 21/28 | €1,314 | €3,159 | +€1,845 | +140.4% |
| Tangible fixed assets | 22/27 | €1,314 | €3,159 | +€1,845 | +140.4% |
| Furniture and vehicles | 24 | €1,314 | €3,159 | +€1,845 | +140.4% |
| Current assets | 29/58 | €75,501 | €97,456 | +€21,955 | +29.1% |
| Amounts receivable within one year | 40/41 | €59,809 | €79,320 | +€19,511 | +32.6% |
| Trade receivables | 40 | €45,080 | €50,968 | +€5,888 | +13.1% |
| Other amounts receivable | 41 | €14,728 | €28,352 | +€13,624 | +92.5% |
| Cash at bank and in hand | 54/58 | €15,692 | €18,136 | +€2,444 | +15.6% |
| Total equity and liabilities | 10/49 | €76,815 | €100,615 | +€23,800 | +31.0% |
| Equity | 10/15 | €39,169 | €60,134 | +€20,965 | +53.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Distributable reserves | 133 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Profit (loss) carried forward | 14 | €6,169 | €17,134 | +€10,965 | +177.8% |
| Amounts payable | 17/49 | €37,646 | €40,481 | +€2,835 | +7.5% |
| Amounts payable within one year | 42/48 | €37,646 | €40,481 | +€2,835 | +7.5% |
| Trade debts | 44 | €182 | €4,973 | +€4,791 | +2636.0% |
| Suppliers | 440/4 | €182 | €4,973 | +€4,791 | +2636.0% |
| Taxes, remuneration and social security | 45 | €37,464 | €35,508 | -€1,956 | -5.2% |
| Taxes | 450/3 | €37,464 | €35,508 | -€1,956 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €861 | +€151 | +21.3% |
| Other operating charges | 640/8 | - | €343 | +€343 | |
| Gross operating margin | 9900 | €74,862 | €33,217 | -€41,645 | -55.6% |
| Operating profit (loss) | 9901 | €74,152 | €32,013 | -€42,139 | -56.8% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €170 | €1,453 | +€1,283 | +755.6% |
| Recurring financial charges | 65 | €170 | €1,453 | +€1,283 | +755.6% |
| Profit (loss) for the period before taxes | 9903 | €73,986 | €30,560 | -€43,426 | -58.7% |
| Income taxes | 67/77 | €17,817 | €8,761 | -€9,056 | -50.8% |
| Profit (loss) for the period | 9904 | €56,169 | €21,799 | -€34,370 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,169 | €21,799 | -€34,370 | -61.2% |
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 9 October 2026 via checked.be.