ZUNE ETOILE: 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.
ZUNE ETOILE
Largest movements
- Receivables within one year -€325,216
down €325,216 (-55.5%), from €585,969 to €260,753
of which Trade receivables: -€192,624
- Short-term financial debts -€325,000
no longer reported in 2025 (was €325,000)
- Other debts +€240,560
new in 2025: €240,560
- Trade debts -€224,391
down €224,391 (-98.6%), from €227,650 to €3,259
- Profit (loss) carried forward -€17,803
down €17,803 (-28.5%), from -€62,464 to -€80,267
- Gross operating margin -€56,677
down €56,677, from €41,649 to -€15,028
- Financial charges -€29,052
down €29,052 (-99.8%), from €29,101 to €49
- Other operating charges -€974
down €974 (-70.9%), from €1,374 to €400
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 | €593,009 | €266,377 | -€326,632 | -55.1% |
| Fixed assets | 21/28 | €6,530 | €4,203 | -€2,327 | -35.6% |
| Tangible fixed assets | 22/27 | €6,530 | €4,203 | -€2,327 | -35.6% |
| Plant, machinery and equipment | 23 | €6,530 | €4,203 | -€2,327 | -35.6% |
| Furniture and vehicles | 24 | €0 | - | -€0 | |
| Current assets | 29/58 | €586,479 | €262,173 | -€324,306 | -55.3% |
| Amounts receivable within one year | 40/41 | €585,969 | €260,753 | -€325,216 | -55.5% |
| Trade receivables | 40 | €376,582 | €183,958 | -€192,624 | -51.2% |
| Other amounts receivable | 41 | €209,387 | €76,795 | -€132,592 | -63.3% |
| Cash at bank and in hand | 54/58 | €511 | €1,420 | +€909 | +178% |
| Total equity and liabilities | 10/49 | €593,009 | €266,377 | -€326,632 | -55.1% |
| Equity | 10/15 | €38,064 | €20,261 | -€17,803 | -46.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €528 | €528 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €528 | €528 | +€0 | 0.0% |
| Legal reserve | 130 | €528 | €528 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€62,464 | -€80,267 | -€17,803 | -28.5% |
| Amounts payable | 17/49 | €554,945 | €246,116 | -€308,829 | -55.7% |
| Amounts payable within one year | 42/48 | €554,945 | €246,116 | -€308,829 | -55.7% |
| Financial debts | 43 | €325,000 | - | -€325,000 | |
| Credit institutions | 430/8 | €325,000 | - | -€325,000 | |
| Trade debts | 44 | €227,650 | €3,259 | -€224,391 | -98.6% |
| Suppliers | 440/4 | €227,650 | €3,259 | -€224,391 | -98.6% |
| Taxes, remuneration and social security | 45 | €2,296 | €2,297 | +€1 | +0.1% |
| Taxes | 450/3 | €2,296 | €2,297 | +€1 | +0.1% |
| Other amounts payable | 47/48 | - | €240,560 | +€240,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,326 | €2,326 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,374 | €400 | -€974 | -70.9% |
| Gross operating margin | 9900 | €41,649 | -€15,028 | -€56,677 | |
| Operating profit (loss) | 9901 | €37,949 | -€17,754 | -€55,703 | |
| Financial charges | 65/66B | €29,101 | €49 | -€29,052 | -99.8% |
| Recurring financial charges | 65 | €29,101 | €49 | -€29,052 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | €8,847 | -€17,803 | -€26,650 | |
| Profit (loss) for the period | 9904 | €8,847 | -€17,803 | -€26,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,847 | -€17,803 | -€26,650 |
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 23 October 2026 via checked.be.