ZOEF: 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.
ZOEF
Largest movements
- Receivables within one year +€9,447
up €9,447 (+3903.8%), from €242 to €9,689
- Tangible fixed assets +€4,500
up €4,500 (+57.9%), from €7,774 to €12,274
of which Land and buildings: +€5,538
- Cash +€2,060
up €2,060 (+51.3%), from €4,015 to €6,075
mainly Other debts (+€10,503) and Depreciation (+€4,288)
- Other debts +€10,503
up €10,503 (+36.4%), from €28,883 to €39,386
- Profit (loss) carried forward +€3,857
up €3,857 (+12.3%), from -€31,365 to -€27,508
- Trade debts +€1,356
up €1,356 (+140.9%), from €963 to €2,318
- Tax, wage and social debts +€415
up €415 (+19.3%), from €2,153 to €2,568
of which Taxes: +€415
- Gross operating margin +€12,178
up €12,178, from -€2,817 to €9,361
- Depreciation +€449
up €449 (+11.7%), from €3,839 to €4,288
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 | €12,218 | €28,350 | +€16,132 | +132.0% |
| Fixed assets | 21/28 | €7,774 | €12,274 | +€4,500 | +57.9% |
| Tangible fixed assets | 22/27 | €7,774 | €12,274 | +€4,500 | +57.9% |
| Land and buildings | 22 | - | €5,538 | +€5,538 | |
| Plant, machinery and equipment | 23 | €7,084 | €5,012 | -€2,072 | -29.2% |
| Furniture and vehicles | 24 | €690 | €1,724 | +€1,034 | +149.9% |
| Current assets | 29/58 | €4,444 | €16,076 | +€11,632 | +261.7% |
| Amounts receivable within one year | 40/41 | €242 | €9,689 | +€9,447 | +3903.8% |
| Trade receivables | 40 | €242 | €9,689 | +€9,447 | +3903.8% |
| Cash at bank and in hand | 54/58 | €4,015 | €6,075 | +€2,060 | +51.3% |
| Deferred charges and accrued income | 490/1 | €187 | €311 | +€125 | +66.8% |
| Total equity and liabilities | 10/49 | €12,218 | €28,350 | +€16,132 | +132.0% |
| Equity | 10/15 | -€24,907 | -€21,050 | +€3,857 | +15.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,458 | €1,458 | = | 0.0% |
| Distributable reserves | 133 | €1,458 | €1,458 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,365 | -€27,508 | +€3,857 | +12.3% |
| Amounts payable | 17/49 | €37,125 | €49,400 | +€12,275 | +33.1% |
| Amounts payable after more than one year | 17 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 178/9 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €31,999 | €44,272 | +€12,273 | +38.4% |
| Trade debts | 44 | €963 | €2,318 | +€1,356 | +140.9% |
| Suppliers | 440/4 | €963 | €2,318 | +€1,356 | +140.9% |
| Taxes, remuneration and social security | 45 | €2,153 | €2,568 | +€415 | +19.3% |
| Taxes | 450/3 | €713 | €1,128 | +€415 | +58.2% |
| Remuneration and social security | 454/9 | €1,440 | €1,440 | = | 0.0% |
| Other amounts payable | 47/48 | €28,883 | €39,386 | +€10,503 | +36.4% |
| Accrued charges and deferred income | 492/3 | €126 | €128 | +€2 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,839 | €4,288 | +€449 | +11.7% |
| Other operating charges | 640/8 | €882 | €844 | -€38 | -4.3% |
| Non-recurring operating charges | 66A | €5,344 | €0 | -€5,344 | -100.0% |
| Gross operating margin | 9900 | -€2,817 | €9,361 | +€12,178 | |
| Operating profit (loss) | 9901 | -€12,882 | €4,229 | +€17,110 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +5850.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +5850.0% |
| Financial charges | 65/66B | €346 | €374 | +€28 | +8.1% |
| Recurring financial charges | 65 | €346 | €374 | +€28 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,227 | €3,858 | +€17,085 | |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€13,227 | €3,857 | +€17,084 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,227 | €3,857 | +€17,084 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.