Zo en Ko: 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.
Zo en Ko
Largest movements
- Cash +€170,777
up €170,777 (+194.9%), from €87,602 to €258,379
mainly Net result for the year (+€89,405) and Receivables within one year (+€63,010)
- Receivables within one year -€63,010
down €63,010 (-85.3%), from €73,846 to €10,836
of which Trade receivables: -€59,481
- Stocks and contracts -€39,010
no longer reported in 2025 (was €39,010)
- Tangible fixed assets -€8,339
down €8,339 (-30.2%), from €27,656 to €19,317
of which Furniture and vehicles: -€7,882
- Reserves +€89,410
up €89,410 (+58.2%), from €153,675 to €243,085
of which Distributable reserves: +€91,270
- Trade debts -€23,889
down €23,889 (-95.2%), from €25,100 to €1,211
- Other debts -€5,226
down €5,226 (-15.1%), from €34,533 to €29,307
- Gross operating margin +€109,637
up €109,637 (+278.3%), from €39,393 to €149,030
- Taxes +€35,120
up €35,120 (+440.4%), from €7,975 to €43,095
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 | €232,958 | €292,444 | +€59,485 | +25.5% |
| Fixed assets | 21/28 | €28,076 | €19,737 | -€8,339 | -29.7% |
| Tangible fixed assets | 22/27 | €27,656 | €19,317 | -€8,339 | -30.2% |
| Plant, machinery and equipment | 23 | €8,454 | €7,997 | -€457 | -5.4% |
| Furniture and vehicles | 24 | €19,203 | €11,321 | -€7,882 | -41.0% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €204,882 | €272,706 | +€67,824 | +33.1% |
| Stocks and contracts in progress | 3 | €39,010 | - | -€39,010 | |
| Stocks | 30/36 | €39,010 | - | -€39,010 | |
| Amounts receivable within one year | 40/41 | €73,846 | €10,836 | -€63,010 | -85.3% |
| Trade receivables | 40 | €69,311 | €9,830 | -€59,481 | -85.8% |
| Other amounts receivable | 41 | €4,535 | €1,006 | -€3,529 | -77.8% |
| Cash at bank and in hand | 54/58 | €87,602 | €258,379 | +€170,777 | +194.9% |
| Deferred charges and accrued income | 490/1 | €4,424 | €3,492 | -€932 | -21.1% |
| Total equity and liabilities | 10/49 | €232,958 | €292,444 | +€59,485 | +25.5% |
| Equity | 10/15 | €163,684 | €253,089 | +€89,405 | +54.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €153,675 | €243,085 | +€89,410 | +58.2% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €14,200 | €14,200 | = | 0.0% |
| Distributable reserves | 133 | €137,615 | €228,885 | +€91,270 | +66.3% |
| Profit (loss) carried forward | 14 | €9 | €4 | -€5 | -55.0% |
| Amounts payable | 17/49 | €69,275 | €39,355 | -€29,920 | -43.2% |
| Amounts payable within one year | 42/48 | €69,275 | €39,355 | -€29,920 | -43.2% |
| Trade debts | 44 | €25,100 | €1,211 | -€23,889 | -95.2% |
| Suppliers | 440/4 | €25,100 | €1,211 | -€23,889 | -95.2% |
| Advances received on contracts in progress | 46 | - | €845 | +€845 | |
| Taxes, remuneration and social security | 45 | €9,642 | €7,992 | -€1,650 | -17.1% |
| Taxes | 450/3 | €9,642 | €7,992 | -€1,650 | -17.1% |
| Other amounts payable | 47/48 | €34,533 | €29,307 | -€5,226 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,537 | €10,726 | +€1,189 | +12.5% |
| Other operating charges | 640/8 | €1,815 | €1,468 | -€347 | -19.1% |
| Gross operating margin | 9900 | €39,393 | €149,030 | +€109,637 | +278.3% |
| Operating profit (loss) | 9901 | €28,042 | €136,837 | +€108,795 | +388.0% |
| Financial income | 75/76B | €952 | €444 | -€508 | -53.4% |
| Recurring financial income | 75 | €952 | €444 | -€508 | -53.4% |
| Financial charges | 65/66B | €4,926 | €4,780 | -€146 | -3.0% |
| Recurring financial charges | 65 | €4,926 | €4,780 | -€146 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €24,068 | €132,500 | +€108,432 | +450.5% |
| Income taxes | 67/77 | €7,975 | €43,095 | +€35,120 | +440.4% |
| Profit (loss) for the period | 9904 | €16,093 | €89,405 | +€73,312 | +455.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,093 | €89,405 | +€73,312 | +455.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.