ZT 1 PROJECTS: 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.
ZT 1 PROJECTS
Largest movements
- Stocks and contracts +€61,355
new in 2025: €61,355
- Tangible fixed assets +€35,971
up €35,971 (+1,939%), from €1,855 to €37,826
of which Other tangible fixed assets: +€36,962
- Financial fixed assets +€14,000
new in 2025: €14,000
- Cash +€9,025
up €9,025 (+140%), from €6,425 to €15,450
mainly Other debts (+€159,965) and Trade debts (+€71,913)
- Receivables within one year +€6,753
up €6,753 (+19.3%), from €34,905 to €41,658
of which Other amounts receivable: +€10,883
- Other debts +€159,965
up €159,965 (+20,317%), from €787 to €160,752
- Profit (loss) carried forward -€108,176
down €108,176 (-1,938%), from -€5,582 to -€113,758
- Trade debts +€71,913
up €71,913 (+1,639%), from €4,386 to €76,299
- Tax, wage and social debts +€2,400
up €2,400 (+16.1%), from €14,871 to €17,271
of which Remuneration and social security: +€7,695
- Staff costs +€69,987
up €69,987 (+98.3%), from €71,204 to €141,191
- Gross operating margin -€11,268
down €11,268 (-23.9%), from €47,185 to €35,917
- Depreciation +€1,063
up €1,063 (+107%), from €991 to €2,054
- Financial charges +€482
up €482 (+198%), from €244 to €725
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 | €44,463 | €170,564 | +€126,101 | +284% |
| Fixed assets | 21/28 | €1,855 | €51,827 | +€49,971 | +2,694% |
| Tangible fixed assets | 22/27 | €1,855 | €37,826 | +€35,971 | +1,939% |
| Furniture and vehicles | 24 | €1,855 | €864 | -€991 | -53.4% |
| Other tangible fixed assets | 26 | - | €36,962 | +€36,962 | |
| Financial fixed assets | 28 | - | €14,000 | +€14,000 | |
| Current assets | 29/58 | €42,608 | €118,738 | +€76,130 | +179% |
| Stocks and contracts in progress | 3 | - | €61,355 | +€61,355 | |
| Stocks | 30/36 | - | €61,355 | +€61,355 | |
| Amounts receivable within one year | 40/41 | €34,905 | €41,658 | +€6,753 | +19.3% |
| Trade receivables | 40 | €33,790 | €29,660 | -€4,130 | -12.2% |
| Other amounts receivable | 41 | €1,115 | €11,998 | +€10,883 | +976% |
| Cash at bank and in hand | 54/58 | €6,425 | €15,450 | +€9,025 | +140% |
| Deferred charges and accrued income | 490/1 | €1,278 | €275 | -€1,003 | -78.5% |
| Total equity and liabilities | 10/49 | €44,463 | €170,564 | +€126,101 | +284% |
| Equity | 10/15 | €24,418 | -€83,758 | -€108,176 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,582 | -€113,758 | -€108,176 | -1,938% |
| Amounts payable | 17/49 | €20,045 | €254,322 | +€234,277 | +1,169% |
| Amounts payable within one year | 42/48 | €20,045 | €254,322 | +€234,277 | +1,169% |
| Trade debts | 44 | €4,386 | €76,299 | +€71,913 | +1,639% |
| Suppliers | 440/4 | €4,386 | €76,299 | +€71,913 | +1,639% |
| Taxes, remuneration and social security | 45 | €14,871 | €17,271 | +€2,400 | +16.1% |
| Taxes | 450/3 | €5,296 | €0 | -€5,296 | -100% |
| Remuneration and social security | 454/9 | €9,575 | €17,271 | +€7,695 | +80.4% |
| Other amounts payable | 47/48 | €787 | €160,752 | +€159,965 | +20,317% |
| Remuneration, social security and pensions | 62 | €71,204 | €141,191 | +€69,987 | +98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €991 | €2,054 | +€1,063 | +107% |
| Other operating charges | 640/8 | €831 | €525 | -€307 | -36.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €47,185 | €35,917 | -€11,268 | -23.9% |
| Operating profit (loss) | 9901 | -€25,841 | -€107,852 | -€82,011 | -317% |
| Financial income | 75/76B | €80 | €402 | +€321 | +401% |
| Recurring financial income | 75 | €80 | €402 | +€321 | +401% |
| Financial charges | 65/66B | €244 | €725 | +€482 | +198% |
| Recurring financial charges | 65 | €244 | €725 | +€482 | +198% |
| Profit (loss) for the period before taxes | 9903 | -€26,005 | -€108,176 | -€82,171 | -316% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€26,005 | -€108,176 | -€82,171 | -316% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,005 | -€108,176 | -€82,171 | -316% |
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 15 October 2026 via checked.be.