ZELINES
ActiveSummary
ZELINES has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €242,666 and a net result of €2,780. Equity remains stable across the filed financial years (±2.2% per year). Its solvency ranks better than 84% of 22,479 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, micro format
Equity
€242,666▲ 1.2%
2024 · €239,885
Total assets
€323,181▲ 21.5%
2024 · €265,917
Net result
€2,780▼ 24.5%
2024 · €3,681
Working capital
€285,508▲ 19.3%
2024 · €239,396
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 88% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€558
2025
Net result€2,780
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€323,181
2025
Equity€242,666
2025
Debt€80,515
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€285,508
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency75.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio9.33
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2.6
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€28,969-€7,184▼ 75.2%€3,950▼ 45.0%€3,387▼ 14.3%€17,658▲ 421%€3,657▼ 79.3%€4,551▲ 24.4%€558▼ 87.7%
Net result€20,762-€5,489▼ 73.6%€3,988within the sector's middle half▼ 27.4%€2,789within the sector's middle half▼ 30.1%€13,267within the sector's middle half▲ 376%€2,059within the sector's middle half▼ 84.5%€3,681within the sector's middle half▲ 78.8%€2,780within the sector's middle half▼ 24.5%
Equity€208,613-€214,102▲ 2.6%€218,090above the sector's middle half▲ 1.9%€220,879above the sector's middle half▲ 1.3%€234,146above the sector's middle half▲ 6.0%€236,204above the sector's middle half▲ 0.9%€239,885above the sector's middle half▲ 1.6%€242,666above the sector's middle half▲ 1.2%
Total assets€235,818-€235,206▼ 0.3%€234,640within the sector's middle half▼ 0.2%€238,530within the sector's middle half▲ 1.7%€254,838within the sector's middle half▲ 6.8%€254,616within the sector's middle half▼ 0.1%€265,917within the sector's middle half▲ 4.4%€323,181within the sector's middle half▲ 21.5%
Debt€27,206-€21,104▼ 22.4%€16,550▼ 21.6%€17,652▲ 6.7%€20,693▲ 17.2%€18,411▼ 11.0%€26,032▲ 41.4%€80,515▲ 209%
Working capital€189,578-€199,362▲ 5.2%€208,666above the sector's middle half▲ 4.7%€218,171above the sector's middle half▲ 4.6%€232,258above the sector's middle half▲ 6.5%€235,251above the sector's middle half▲ 1.3%€239,396above the sector's middle half▲ 1.8%€285,508above the sector's middle half▲ 19.3%
Solvency88.5%-91.0%▲ 2.6pp92.9%above the sector's middle half▲ 1.9pp92.6%above the sector's middle half▼ 0.3pp91.9%above the sector's middle half▼ 0.7pp92.8%above the sector's middle half▲ 0.9pp90.2%above the sector's middle half▼ 2.6pp75.1%above the sector's middle half▼ 15.1pp
Current ratio7.97-10.45▲ 2.4813.61above the sector's middle half▲ 3.1613.36above the sector's middle half▼ 0.2512.22above the sector's middle half▼ 1.1413.78above the sector's middle half▲ 1.5510.20above the sector's middle half▼ 3.589.33above the sector's middle half▼ 0.87
Return on assets (ROA)8.8%-2.3%▼ 6.5pp1.7%within the sector's middle half▼ 0.6pp1.2%within the sector's middle half▼ 0.5pp5.2%within the sector's middle half▲ 4.0pp0.8%within the sector's middle half▼ 4.4pp1.4%within the sector's middle half▲ 0.6pp0.9%within the sector's middle half▼ 0.5pp
Staff (FTE)3.7-3.7=3.3above the sector's middle half▼ 10.8%3▼ 9.1%3.3▲ 10.0%3.3=2.5▼ 24.2%2.6▲ 4.0%
above
within
below
the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €323,181
Fixed assets
€3,395 ▲ 594%
Current assets
€319,786 ▲ 20.5%
Equity and liabilities €323,181
Equity
€242,666 ▲ 1.2%
Debt
€80,515 ▲ 209%
Debt's share of the balance-sheet total rises from 9.8% to 24.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1,152▼
2024 · €5,015
Cash flow
€3,375▼
2024 · €4,145
Debt to equity
0.33▲
2024 · 0.11
ROE
1.1%▼
2024 · 1.5%
Interest coverage
4.00▼
2024 · 11.05
Debt ≤ 1 year
€34,278▲
2024 · €26,032
Debt > 1 year
€46,237
Income taxes
€1,224▼
2024 · €1,904
Staff costs
€79,822▼
2024 · €83,921
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €52,647 | €51,253 | €61,124 | €83,921 | €79,822 | ▼ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,356 | €7,332 | €6,794 | €6,716 | €1,948 | €934 | €464 | €594 | ▲ 28.0% |
| Other operating charges640/8 | - | - | - | €546 | €567 | €220 | €1,103 | €718 | ▼ 34.9% |
| Gross operating margin9900 | €84,995 | €66,935 | €51,962 | €63,296 | €71,426 | €65,936 | €90,039 | €81,691 | ▼ 9.3% |
| Operating profit (loss)9901 | €28,969 | €7,184 | €3,950 | €3,387 | €17,658 | €3,657 | €4,551 | €558 | ▼ 87.7% |
| Financial income75/76B | - | - | - | €56 | €47 | €12 | €1,488 | €3,735 | ▲ 151% |
| Recurring financial income75 | €660 | €545 | €353 | €56 | €47 | €12 | €1,488 | €3,735 | ▲ 151% |
| Financial charges65/66B | - | - | - | €93 | €220 | €339 | €454 | €288 | ▼ 36.6% |
| Recurring financial charges65 | €37 | €72 | €79 | €93 | €220 | €339 | €454 | €288 | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | €29,591 | €7,657 | €4,224 | €3,349 | €17,485 | €3,331 | €5,585 | €4,005 | ▼ 28.3% |
| Income taxes67/77 | €8,830 | €2,168 | €236 | €560 | €4,218 | €1,272 | €1,904 | €1,224 | ▼ 35.7% |
| Profit (loss) for the period9904 | €20,762 | €5,489 | €3,988 | €2,789 | €13,267 | €2,059 | €3,681 | €2,780 | ▼ 24.5% |
| Profit (loss) for the period to be appropriated9905 | €20,762 | €5,489 | €3,988 | €2,789 | €13,267 | €2,059 | €3,681 | €2,780 | ▼ 24.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €235,818 | €235,206 | €234,640 | €238,530 | €254,838 | €254,616 | €265,917 | €323,181 | ▲ 21.5% |
| Fixed assets21/28 | €19,035 | €14,740 | €9,423 | €2,707 | €1,888 | €953 | €489 | €3,395 | ▲ 594% |
| Tangible fixed assets22/27 | €18,964 | €14,669 | €9,352 | €2,636 | €1,888 | €953 | €489 | €3,395 | ▲ 594% |
| Plant, machinery and equipment23 | - | - | - | €190 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €2,446 | €1,888 | €953 | €489 | €3,395 | ▲ 594% |
| Financial fixed assets28 | €72 | €72 | €72 | €72 | - | - | - | - | - |
| Current assets29/58 | €216,783 | €220,465 | €225,216 | €235,823 | €252,950 | €253,662 | €265,428 | €319,786 | ▲ 20.5% |
| Amounts receivable within one year40/41 | €34,695 | €32,920 | €7,150 | €10,159 | €10,555 | €19,452 | €8,363 | €9,025 | ▲ 7.9% |
| Trade receivables40 | - | - | - | €9,263 | €6,672 | €7,385 | €4,265 | €4,886 | ▲ 14.5% |
| Other amounts receivable41 | - | - | - | €896 | €3,883 | €12,067 | €4,098 | €4,140 | ▲ 1.0% |
| Cash at bank and in hand54/58 | €182,089 | €187,545 | €216,733 | €224,111 | €240,928 | €234,061 | €255,028 | €309,913 | ▲ 21.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,552 | €1,467 | €150 | €2,036 | €848 | ▼ 58.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €235,818 | €235,206 | €234,640 | €238,530 | €254,838 | €254,616 | €265,917 | €323,181 | ▲ 21.5% |
| Equity10/15 | €208,613 | €214,102 | €218,090 | €220,879 | €234,146 | €236,204 | €239,885 | €242,666 | ▲ 1.2% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €79,602 | €79,602 | €79,602 | €79,602 | €79,602 | €79,602 | €79,602 | €79,602 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €77,743 | €77,743 | €79,602 | €79,602 | €79,602 | = |
| Profit (loss) carried forward14 | €122,811 | €128,300 | €132,288 | €135,077 | €148,344 | €150,402 | €154,083 | €156,864 | ▲ 1.8% |
| Amounts payable17/49 | €27,206 | €21,104 | €16,550 | €17,652 | €20,693 | €18,411 | €26,032 | €80,515 | ▲ 209% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | - | €46,237 | - |
| Other amounts payable178/9 | - | - | - | - | - | - | - | €46,237 | - |
| Amounts payable within one year42/48 | €27,206 | €21,104 | €16,550 | €17,652 | €20,693 | €18,411 | €26,032 | €34,278 | ▲ 31.7% |
| Trade debts44 | €1,558 | €1,626 | €2,976 | €4,666 | €3,319 | €1,323 | €7,206 | €11,422 | ▲ 58.5% |
| Suppliers440/4 | - | - | - | €4,666 | €3,319 | €1,323 | €7,206 | €11,422 | ▲ 58.5% |
| Taxes, remuneration and social security45 | - | - | - | €12,986 | €17,374 | €17,088 | €18,826 | €22,856 | ▲ 21.4% |
| Taxes450/3 | - | - | - | €2,218 | €6,146 | €3,347 | €1,907 | €3,123 | ▲ 63.8% |
| Remuneration and social security454/9 | - | - | - | €10,768 | €11,227 | €13,741 | €16,919 | €19,733 | ▲ 16.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,762 | €5,489 | €3,988 | €2,789 | €13,267 | €2,059 | €3,681 | €2,780 | ▼ 24.5% |
| + Depreciation and write-downs630 | €6,356 | €7,332 | €6,794 | €6,716 | €1,948 | €934 | €464 | €594 | ▲ 28.0% |
| Operating cash flow (approximation) | €27,118 | €12,821 | €10,782 | €9,505 | €15,215 | €2,993 | €4,145 | €3,375 | ▼ 18.6% |
| Investment in fixed assets (approximation) | - | -€3,037 | -€1,477 | €0 | -€1,129 | €0 | €0 | -€3,500 | - |
| Change in cash | - | €5,456 | €29,188 | €7,378 | €16,817 | -€6,868 | €20,968 | €54,884 | ▲ 162% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00217262 |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00223863 |
| 31-10-2023 | micro format | 04-05-2024 | 2024-00081847 |
| 31-10-2022 | micro format | 11-05-2023 | 2023-00085287 |
| 31-10-2021 | micro format | 23-05-2022 | 2022-20038202 |
| 31-10-2020 | micro format | 10-05-2021 | 2021-13900421 |
| 31-10-2019 | micro format | 29-04-2020 | 2020-10300197 |
| 31-10-2018 | micro format | 24-04-2019 | 2019-10400504 |
| 31-10-2017 | micro format | 26-03-2018 | 2018-07800480 |
| 31-10-2016 | full format | 28-03-2017 | 2017-07600048 |
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Of the 1,726 active companies whose main activity is retail sale of prescription glasses, lenses and sunglasses (NACE 47742), figures are known for 1,138. 926 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.