ZOELSE EXPRESS: 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.
ZOELSE EXPRESS
Largest movements
- Receivables within one year +€93,104
up €93,104 (+2375.7%), from €3,919 to €97,023
of which Other amounts receivable: +€72,585
- Cash -€91,371
down €91,371 (-65.4%), from €139,633 to €48,262
mainly Receivables within one year (-€93,104) and Net result for the year (-€37,711)
- Tangible fixed assets -€35,741
down €35,741 (-35.7%), from €100,124 to €64,383
of which Other tangible fixed assets: -€32,101
- Other debts +€60,584
new in 2025: €60,584
- Profit (loss) carried forward -€37,711
down €37,711 (-19.1%), from €197,247 to €159,536
- Tax, wage and social debts -€24,924
down €24,924 (-53.0%), from €47,041 to €22,117
of which Remuneration and social security: -€32,643
- Current portion of long-term debt -€12,193
down €12,193 (-54.2%), from €22,497 to €10,304
- Debts after one year -€10,304
no longer reported in 2025 (was €10,304)
- Gross operating margin -€58,796
down €58,796 (-25.2%), from €233,098 to €174,301
- Financial charges +€45,809
up €45,809 (+744.0%), from €6,157 to €51,967
of which Non-recurring financial charges: +€41,847
- Taxes -€14,398
no longer reported in 2025 (was €14,398)
- Staff costs -€3,496
down €3,496 (-2.8%), from €124,067 to €120,571
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 | €568,133 | €533,513 | -€34,620 | -6.1% |
| Fixed assets | 21/28 | €100,124 | €64,383 | -€35,741 | -35.7% |
| Tangible fixed assets | 22/27 | €100,124 | €64,383 | -€35,741 | -35.7% |
| Plant, machinery and equipment | 23 | €10,519 | €8,521 | -€1,998 | -19.0% |
| Furniture and vehicles | 24 | €2,743 | €1,101 | -€1,641 | -59.8% |
| Other tangible fixed assets | 26 | €86,862 | €54,760 | -€32,101 | -37.0% |
| Current assets | 29/58 | €468,009 | €469,130 | +€1,121 | +0.2% |
| Amounts receivable after more than one year | 29 | €246,024 | €246,024 | = | 0.0% |
| Trade receivables | 290 | - | €246,024 | +€246,024 | |
| Other amounts receivable | 291 | €246,024 | - | -€246,024 | |
| Stocks and contracts in progress | 3 | €75,706 | €75,706 | = | 0.0% |
| Stocks | 30/36 | €75,706 | €75,706 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,919 | €97,023 | +€93,104 | +2375.7% |
| Trade receivables | 40 | €225 | €20,745 | +€20,520 | +9112.1% |
| Other amounts receivable | 41 | €3,694 | €76,279 | +€72,585 | +1965.0% |
| Cash at bank and in hand | 54/58 | €139,633 | €48,262 | -€91,371 | -65.4% |
| Deferred charges and accrued income | 490/1 | €2,727 | €2,115 | -€612 | -22.5% |
| Total equity and liabilities | 10/49 | €568,133 | €533,513 | -€34,620 | -6.1% |
| Equity | 10/15 | €261,747 | €224,036 | -€37,711 | -14.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €4,500 | €4,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,247 | €159,536 | -€37,711 | -19.1% |
| Amounts payable | 17/49 | €306,386 | €309,478 | +€3,092 | +1.0% |
| Amounts payable after more than one year | 17 | €10,304 | - | -€10,304 | |
| Financial debts | 170/4 | €10,304 | - | -€10,304 | |
| Amounts payable within one year | 42/48 | €296,082 | €309,478 | +€13,396 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €22,497 | €10,304 | -€12,193 | -54.2% |
| Trade debts | 44 | €226,544 | €216,473 | -€10,071 | -4.4% |
| Suppliers | 440/4 | €226,544 | €216,473 | -€10,071 | -4.4% |
| Taxes, remuneration and social security | 45 | €47,041 | €22,117 | -€24,924 | -53.0% |
| Taxes | 450/3 | €14,398 | €22,117 | +€7,719 | +53.6% |
| Remuneration and social security | 454/9 | €32,643 | - | -€32,643 | |
| Other amounts payable | 47/48 | - | €60,584 | +€60,584 | |
| Remuneration, social security and pensions | 62 | €124,067 | €120,571 | -€3,496 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,998 | €36,911 | -€87 | -0.2% |
| Other operating charges | 640/8 | €3,571 | €2,648 | -€922 | -25.8% |
| Gross operating margin | 9900 | €233,098 | €174,301 | -€58,796 | -25.2% |
| Operating profit (loss) | 9901 | €68,462 | €14,171 | -€54,291 | -79.3% |
| Financial income | 75/76B | €134 | €85 | -€49 | -36.6% |
| Recurring financial income | 75 | €134 | €85 | -€49 | -36.6% |
| Financial charges | 65/66B | €6,157 | €51,967 | +€45,809 | +744.0% |
| Recurring financial charges | 65 | €6,157 | €10,120 | +€3,963 | +64.4% |
| Non-recurring financial charges | 66B | - | €41,847 | +€41,847 | |
| Profit (loss) for the period before taxes | 9903 | €62,438 | -€37,711 | -€100,149 | |
| Income taxes | 67/77 | €14,398 | - | -€14,398 | |
| Profit (loss) for the period | 9904 | €48,039 | -€37,711 | -€85,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,039 | -€37,711 | -€85,750 |
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 12 October 2026 via checked.be.