BZERO: what changed
Two fiscal 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.
BZERO
Largest movements
- Cash -€62,726
down €62,726 (-63.1%), from €99,439 to €36,712
mainly Trade debts (-€36,243) and Other debts (-€16,976)
- Receivables within one year -€11,409
down €11,409 (-13.8%), from €82,577 to €71,168
of which Trade receivables: -€23,265
- Tangible fixed assets -€8,179
down €8,179 (-30.0%), from €27,238 to €19,059
- Deferred charges and accrued income +€7,367
up €7,367 (+1923.9%), from €383 to €7,750
- Trade debts -€36,243
down €36,243 (-73.1%), from €49,563 to €13,321
- Other debts -€16,976
down €16,976 (-55.1%), from €30,802 to €13,825
- Profit (loss) carried forward -€11,855
down €11,855 (-11.3%), from €104,960 to €93,105
- Tax, wage and social debts -€5,192
down €5,192 (-99.3%), from €5,230 to €38
- Debts after one year -€4,499
no longer reported in 2025 (was €4,499)
- Gross operating margin -€54,249
down €54,249 (-79.7%), from €68,060 to €13,811
- Taxes -€11,757
down €11,757 (-89.3%), from €13,163 to €1,406
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.
Cash bridge derived
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 | €209,636 | €134,689 | -€74,948 | -35.8% |
| Fixed assets | 21/28 | €27,238 | €19,059 | -€8,179 | -30.0% |
| Tangible fixed assets | 22/27 | €27,238 | €19,059 | -€8,179 | -30.0% |
| Plant, machinery and equipment | 23 | €7,625 | €4,648 | -€2,977 | -39.0% |
| Furniture and vehicles | 24 | €15,067 | €11,063 | -€4,004 | -26.6% |
| Other tangible fixed assets | 26 | €4,546 | €3,347 | -€1,199 | -26.4% |
| Current assets | 29/58 | €182,399 | €115,630 | -€66,768 | -36.6% |
| Amounts receivable within one year | 40/41 | €82,577 | €71,168 | -€11,409 | -13.8% |
| Trade receivables | 40 | €72,123 | €48,857 | -€23,265 | -32.3% |
| Other amounts receivable | 41 | €10,455 | €22,310 | +€11,856 | +113.4% |
| Cash at bank and in hand | 54/58 | €99,439 | €36,712 | -€62,726 | -63.1% |
| Deferred charges and accrued income | 490/1 | €383 | €7,750 | +€7,367 | +1923.9% |
| Total equity and liabilities | 10/49 | €209,636 | €134,689 | -€74,948 | -35.8% |
| Equity | 10/15 | €114,860 | €103,005 | -€11,855 | -10.3% |
| Contributions | 10/11 | €9,900 | €9,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,960 | €93,105 | -€11,855 | -11.3% |
| Amounts payable | 17/49 | €94,776 | €31,683 | -€63,093 | -66.6% |
| Amounts payable after more than one year | 17 | €4,499 | - | -€4,499 | |
| Financial debts | 170/4 | €4,499 | - | -€4,499 | |
| Amounts payable within one year | 42/48 | €90,277 | €31,683 | -€58,594 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €4,682 | €4,499 | -€183 | -3.9% |
| Trade debts | 44 | €49,563 | €13,321 | -€36,243 | -73.1% |
| Suppliers | 440/4 | €49,563 | €13,321 | -€36,243 | -73.1% |
| Taxes, remuneration and social security | 45 | €5,230 | €38 | -€5,192 | -99.3% |
| Taxes | 450/3 | €5,230 | €38 | -€5,192 | -99.3% |
| Other amounts payable | 47/48 | €30,802 | €13,825 | -€16,976 | -55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,902 | €8,179 | +€277 | +3.5% |
| Other operating charges | 640/8 | €671 | €850 | +€179 | +26.8% |
| Gross operating margin | 9900 | €68,060 | €13,811 | -€54,249 | -79.7% |
| Operating profit (loss) | 9901 | €59,487 | €4,782 | -€54,706 | -92.0% |
| Financial income | 75/76B | €68 | €90 | +€21 | +31.1% |
| Recurring financial income | 75 | €68 | €90 | +€21 | +31.1% |
| Financial charges | 65/66B | €808 | €1,202 | +€394 | +48.8% |
| Recurring financial charges | 65 | €808 | €1,202 | +€394 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | €58,747 | €3,669 | -€55,079 | -93.8% |
| Income taxes | 67/77 | €13,163 | €1,406 | -€11,757 | -89.3% |
| Profit (loss) for the period | 9904 | €45,584 | €2,263 | -€43,321 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,584 | €2,263 | -€43,321 | -95.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.