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Equilibrium have lower bottom bracket, and longer fork, which is why the headtube measurement (as well as top tube) must be taken with a pinch of salt.
You already answered it; the Equilibrium is 20mm more upright.
The Zero is a race-fit, whether the Equilibrium is not (shorter and upright vs. long and low).
edscoble
Actually, it doesn't. Both bikes in approx 540mm ett have 145mm headtubes. Both have the same reach. Equilibrium does have about 20mm more stack like-for-like, which makes it feel more upright, right?