ZEDES: what changed
ZEDES
Largest movements
- Cash -€3,844
down €3,844 (-94.6%), from €4,063 to €219
mainly Tax, wage and social debts (-€4,389) and Other debts (-€2,333)
- Stocks and contracts -€500
down €500 (-13.9%), from €3,593 to €3,093
- Tax, wage and social debts -€4,389
down €4,389 (-83.0%), from €5,290 to €901
- Other debts -€2,333
down €2,333 (-25.8%), from €9,038 to €6,704
- Trade debts +€1,780
up €1,780 (+182%), from €978 to €2,758
- Profit (loss) carried forward +€535
up €535 (+2.5%), from -€21,187 to -€20,652
- Gross operating margin -€6,384
down €6,384 (-81.7%), from €7,816 to €1,431
- Other operating charges +€640
new in 2025: €640
- Financial charges -€230
down €230 (-53.4%), from €430 to €200
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,119 | €8,712 | -€4,407 | -33.6% |
| Fixed assets | 21/28 | €5,400 | €5,400 | = | 0.0% |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €7,719 | €3,312 | -€4,407 | -57.1% |
| Stocks and contracts in progress | 3 | €3,593 | €3,093 | -€500 | -13.9% |
| Stocks | 30/36 | €3,593 | €3,093 | -€500 | -13.9% |
| Amounts receivable within one year | 40/41 | €63 | - | -€63 | |
| Trade receivables | 40 | €63 | - | -€63 | |
| Cash at bank and in hand | 54/58 | €4,063 | €219 | -€3,844 | -94.6% |
| Total equity and liabilities | 10/49 | €13,119 | €8,712 | -€4,407 | -33.6% |
| Equity | 10/15 | -€2,187 | -€1,652 | +€535 | +24.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,187 | -€20,652 | +€535 | +2.5% |
| Amounts payable | 17/49 | €15,306 | €10,364 | -€4,942 | -32.3% |
| Amounts payable within one year | 42/48 | €15,306 | €10,364 | -€4,942 | -32.3% |
| Trade debts | 44 | €978 | €2,758 | +€1,780 | +182% |
| Suppliers | 440/4 | €978 | €2,758 | +€1,780 | +182% |
| Taxes, remuneration and social security | 45 | €5,290 | €901 | -€4,389 | -83.0% |
| Taxes | 450/3 | €5,290 | €901 | -€4,389 | -83.0% |
| Other amounts payable | 47/48 | €9,038 | €6,704 | -€2,333 | -25.8% |
| Other operating charges | 640/8 | - | €640 | +€640 | |
| Non-recurring operating charges | 66A | €504 | €56 | -€448 | -88.9% |
| Gross operating margin | 9900 | €7,816 | €1,431 | -€6,384 | -81.7% |
| Operating profit (loss) | 9901 | €7,312 | €736 | -€6,576 | -89.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €430 | €200 | -€230 | -53.4% |
| Recurring financial charges | 65 | €430 | €200 | -€230 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €6,882 | €535 | -€6,347 | -92.2% |
| Profit (loss) for the period | 9904 | €6,882 | €535 | -€6,347 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,882 | €535 | -€6,347 | -92.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.