ZXS: 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.
ZXS
Largest movements
- Receivables after one year -€171,677
no longer reported in 2025 (was €171,677)
- Cash +€33,629
up €33,629 (+11.3%), from €297,560 to €331,188
mainly Receivables after one year (+€171,677) and Net result for the year (+€121,893)
- Current investments +€30,003
up €30,003 (+300.0%), from €10,001 to €40,004
- Tangible fixed assets -€16,170
down €16,170 (-35.5%), from €45,555 to €29,384
- Other debts -€250,027
no longer reported in 2025 (was €250,027)
- Profit (loss) carried forward +€121,893
up €121,893 (+40.2%), from €303,192 to €425,085
- Depreciation +€10,813
up €10,813 (+201.8%), from €5,358 to €16,170
- Gross operating margin +€7,750
up €7,750 (+4.4%), from €174,168 to €181,918
- Taxes -€1,900
down €1,900 (-5.0%), from €37,733 to €35,833
- Other operating charges +€1,880
up €1,880 (+30.8%), from €6,103 to €7,983
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 | €565,376 | €437,769 | -€127,607 | -22.6% |
| Fixed assets | 21/28 | €45,555 | €29,384 | -€16,170 | -35.5% |
| Tangible fixed assets | 22/27 | €45,555 | €29,384 | -€16,170 | -35.5% |
| Furniture and vehicles | 24 | €45,555 | €29,384 | -€16,170 | -35.5% |
| Current assets | 29/58 | €519,821 | €408,385 | -€111,436 | -21.4% |
| Amounts receivable after more than one year | 29 | €171,677 | - | -€171,677 | |
| Other amounts receivable | 291 | €171,677 | - | -€171,677 | |
| Amounts receivable within one year | 40/41 | €40,583 | €37,192 | -€3,391 | -8.4% |
| Trade receivables | 40 | €40,583 | €29,613 | -€10,971 | -27.0% |
| Other amounts receivable | 41 | - | €7,580 | +€7,580 | |
| Current investments | 50/53 | €10,001 | €40,004 | +€30,003 | +300.0% |
| Cash at bank and in hand | 54/58 | €297,560 | €331,188 | +€33,629 | +11.3% |
| Total equity and liabilities | 10/49 | €565,376 | €437,769 | -€127,607 | -22.6% |
| Equity | 10/15 | €305,192 | €427,085 | +€121,893 | +39.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €303,192 | €425,085 | +€121,893 | +40.2% |
| Amounts payable | 17/49 | €260,184 | €10,684 | -€249,499 | -95.9% |
| Amounts payable within one year | 42/48 | €260,184 | €10,684 | -€249,499 | -95.9% |
| Taxes, remuneration and social security | 45 | €10,157 | €10,684 | +€528 | +5.2% |
| Taxes | 450/3 | €10,157 | €10,684 | +€528 | +5.2% |
| Other amounts payable | 47/48 | €250,027 | - | -€250,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,358 | €16,170 | +€10,813 | +201.8% |
| Other operating charges | 640/8 | €6,103 | €7,983 | +€1,880 | +30.8% |
| Gross operating margin | 9900 | €174,168 | €181,918 | +€7,750 | +4.4% |
| Operating profit (loss) | 9901 | €162,707 | €157,764 | -€4,943 | -3.0% |
| Financial charges | 65/66B | €59 | €38 | -€20 | -34.7% |
| Recurring financial charges | 65 | €59 | €38 | -€20 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €162,648 | €157,726 | -€4,922 | -3.0% |
| Income taxes | 67/77 | €37,733 | €35,833 | -€1,900 | -5.0% |
| Profit (loss) for the period | 9904 | €124,915 | €121,893 | -€3,023 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,915 | €121,893 | -€3,023 | -2.4% |
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 12 October 2026 via checked.be.