ZOU2: 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.
ZOU2
Largest movements
- Cash +€160,219
up €160,219 (+321%), from €49,947 to €210,165
mainly Net result for the year (+€148,419) and Receivables within one year (+€39,619)
- Receivables within one year -€39,619
down €39,619 (-38.5%), from €102,875 to €63,256
of which Other amounts receivable: -€31,819
- Current investments +€16,422
up €16,422 (+5.7%), from €285,766 to €302,188
- Reserves +€148,419
up €148,419 (+41.1%), from €361,088 to €509,506
- Trade debts -€9,096
down €9,096 (-96.7%), from €9,406 to €311
- Gross operating margin +€150,605
up €150,605 (+252%), from €59,864 to €210,469
- Taxes +€46,769
up €46,769 (+278%), from €16,808 to €63,577
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 | €447,228 | €581,980 | +€134,753 | +30.1% |
| Fixed assets | 21/28 | €6,955 | €5,187 | -€1,768 | -25.4% |
| Tangible fixed assets | 22/27 | €4,838 | €3,070 | -€1,768 | -36.5% |
| Furniture and vehicles | 24 | €4,838 | €3,070 | -€1,768 | -36.5% |
| Financial fixed assets | 28 | €2,117 | €2,117 | = | 0.0% |
| Current assets | 29/58 | €440,273 | €576,793 | +€136,521 | +31.0% |
| Amounts receivable within one year | 40/41 | €102,875 | €63,256 | -€39,619 | -38.5% |
| Trade receivables | 40 | €60,500 | €52,700 | -€7,800 | -12.9% |
| Other amounts receivable | 41 | €42,375 | €10,556 | -€31,819 | -75.1% |
| Current investments | 50/53 | €285,766 | €302,188 | +€16,422 | +5.7% |
| Cash at bank and in hand | 54/58 | €49,947 | €210,165 | +€160,219 | +321% |
| Deferred charges and accrued income | 490/1 | €1,685 | €1,184 | -€501 | -29.7% |
| Total equity and liabilities | 10/49 | €447,228 | €581,980 | +€134,753 | +30.1% |
| Equity | 10/15 | €415,132 | €563,550 | +€148,419 | +35.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €361,088 | €509,506 | +€148,419 | +41.1% |
| Distributable reserves | 133 | €361,088 | €509,506 | +€148,419 | +41.1% |
| Profit (loss) carried forward | 14 | €41,644 | €41,644 | = | 0.0% |
| Amounts payable | 17/49 | €32,096 | €18,430 | -€13,666 | -42.6% |
| Amounts payable within one year | 42/48 | €32,096 | €18,430 | -€13,666 | -42.6% |
| Trade debts | 44 | €9,406 | €311 | -€9,096 | -96.7% |
| Suppliers | 440/4 | €9,406 | €311 | -€9,096 | -96.7% |
| Taxes, remuneration and social security | 45 | €21,063 | €17,611 | -€3,452 | -16.4% |
| Taxes | 450/3 | €21,063 | €17,491 | -€3,572 | -17.0% |
| Remuneration and social security | 454/9 | €0 | €120 | +€120 | |
| Other amounts payable | 47/48 | €1,627 | €508 | -€1,119 | -68.8% |
| Non-recurring operating income | 76A | - | €4,290 | +€4,290 | |
| Remuneration, social security and pensions | 62 | €320 | €727 | +€406 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,928 | €1,768 | -€160 | -8.3% |
| Other operating charges | 640/8 | €727 | €663 | -€64 | -8.8% |
| Non-recurring operating charges | 66A | €1,287 | €0 | -€1,287 | -100% |
| Gross operating margin | 9900 | €59,864 | €210,469 | +€150,605 | +252% |
| Operating profit (loss) | 9901 | €55,602 | €207,311 | +€151,709 | +273% |
| Financial income | 75/76B | €3,173 | €4,755 | +€1,581 | +49.8% |
| Recurring financial income | 75 | €3,173 | €4,755 | +€1,581 | +49.8% |
| Financial charges | 65/66B | €35 | €70 | +€35 | +97.9% |
| Recurring financial charges | 65 | €35 | €70 | +€35 | +97.9% |
| Profit (loss) for the period before taxes | 9903 | €58,740 | €211,995 | +€153,256 | +261% |
| Income taxes | 67/77 | €16,808 | €63,577 | +€46,769 | +278% |
| Profit (loss) for the period | 9904 | €41,932 | €148,419 | +€106,487 | +254% |
| Profit (loss) for the period to be appropriated | 9905 | €41,932 | €148,419 | +€106,487 | +254% |
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 20 October 2026 via checked.be.