ZSAP - POWER: 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.
ZSAP - POWER
Largest movements
- Current investments -€72,458
down €72,458 (-32.7%), from €221,249 to €148,791
- Cash +€63,287
up €63,287 (+69.9%), from €90,565 to €153,853
mainly Net result for the year (+€82,692) and Current investments (+€72,458)
- Receivables within one year +€18,731
up €18,731 (+87.6%), from €21,380 to €40,111
of which Trade receivables: +€18,722
- Other debts +€9,919
up €9,919 (+15.2%), from €65,435 to €75,353
- Reserves +€6,393
up €6,393 (+1.8%), from €364,543 to €370,936
- Gross operating margin +€8,109
up €8,109 (+7.2%), from €112,147 to €120,256
- Financial income -€1,948
down €1,948 (-47.3%), from €4,118 to €2,170
- Taxes +€1,628
up €1,628 (+5.1%), from €31,715 to €33,343
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.
Derived cash bridge
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 | €458,405 | €468,562 | +€10,157 | +2.2% |
| Fixed assets | 21/28 | €124,194 | €124,262 | +€67 | +0.1% |
| Tangible fixed assets | 22/27 | €124,194 | €124,262 | +€67 | +0.1% |
| Land and buildings | 22 | €120,784 | €117,137 | -€3,647 | -3.0% |
| Plant, machinery and equipment | 23 | - | €1,492 | +€1,492 | |
| Furniture and vehicles | 24 | €3,410 | €5,632 | +€2,222 | +65.2% |
| Current assets | 29/58 | €334,211 | €344,301 | +€10,090 | +3.0% |
| Amounts receivable within one year | 40/41 | €21,380 | €40,111 | +€18,731 | +87.6% |
| Trade receivables | 40 | €21,380 | €40,102 | +€18,722 | +87.6% |
| Other amounts receivable | 41 | - | €9 | +€9 | |
| Current investments | 50/53 | €221,249 | €148,791 | -€72,458 | -32.7% |
| Cash at bank and in hand | 54/58 | €90,565 | €153,853 | +€63,287 | +69.9% |
| Deferred charges and accrued income | 490/1 | €1,017 | €1,546 | +€529 | +52.0% |
| Total equity and liabilities | 10/49 | €458,405 | €468,562 | +€10,157 | +2.2% |
| Equity | 10/15 | €364,543 | €370,936 | +€6,393 | +1.8% |
| Reserves | 13 | €364,543 | €370,936 | +€6,393 | +1.8% |
| Distributable reserves | 133 | €364,543 | €370,936 | +€6,393 | +1.8% |
| Amounts payable | 17/49 | €93,862 | €97,626 | +€3,764 | +4.0% |
| Amounts payable within one year | 42/48 | €90,608 | €94,393 | +€3,785 | +4.2% |
| Trade debts | 44 | €5,383 | €2,934 | -€2,449 | -45.5% |
| Suppliers | 440/4 | €5,383 | €2,934 | -€2,449 | -45.5% |
| Taxes, remuneration and social security | 45 | €19,790 | €16,106 | -€3,684 | -18.6% |
| Taxes | 450/3 | €19,790 | €16,106 | -€3,684 | -18.6% |
| Other amounts payable | 47/48 | €65,435 | €75,353 | +€9,919 | +15.2% |
| Accrued charges and deferred income | 492/3 | €3,254 | €3,233 | -€21 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,666 | €4,806 | +€1,140 | +31.1% |
| Other operating charges | 640/8 | €1,212 | €669 | -€543 | -44.8% |
| Gross operating margin | 9900 | €112,147 | €120,256 | +€8,109 | +7.2% |
| Operating profit (loss) | 9901 | €107,270 | €114,781 | +€7,512 | +7.0% |
| Financial income | 75/76B | €4,118 | €2,170 | -€1,948 | -47.3% |
| Recurring financial income | 75 | €4,118 | €2,170 | -€1,948 | -47.3% |
| Financial charges | 65/66B | €777 | €916 | +€139 | +17.9% |
| Recurring financial charges | 65 | €777 | €916 | +€139 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €110,611 | €116,035 | +€5,424 | +4.9% |
| Income taxes | 67/77 | €31,715 | €33,343 | +€1,628 | +5.1% |
| Profit (loss) for the period | 9904 | €78,896 | €82,692 | +€3,796 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,896 | €82,692 | +€3,796 | +4.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.