  Context. Z\,CMa is a binary composed of an embedded Herbig Be and an FU Ori
class star separated by $\sim100$ au. Observational evidence indicate a complex
environment in which each star has a circumstellar disk and drives a jet, and
the whole system is embedded in a large dusty envelope.
  Aims. We aim to probe the circumbinary environment of Z\,CMa in the inner 400
au in scattered light.
  Methods. We use high contrast imaging polarimetry with VLT/NaCo at $H$ and
$K_s$ bands.
  Results. The central binary is resolved in both bands. The polarized images
show three bright and complex structures: a common dust envelope, a sharp
extended feature previously reported in direct light, and an intriguing bright
clump located $0\farcs3$ south of the binary, which appears spatially connected
to the sharp extended feature.
  Conclusions.We detect orbital motion when compared to previous observations,
and report a new outburst driven by the Herbig star. Our observations reveal
the complex inner environment of Z\,CMa with unprecedented detail and contrast.
