de A à Zinc: 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.
de A à Zinc
Largest movements
- Cash +€36,676
up €36,676 (+62.5%), from €58,684 to €95,360
mainly Receivables within one year (+€28,339) and Trade debts (+€12,382)
- Receivables within one year -€28,339
down €28,339 (-77.8%), from €36,438 to €8,099
of which Trade receivables: -€28,858
- Tangible fixed assets -€6,390
down €6,390 (-22.0%), from €29,028 to €22,637
- Stocks and contracts -€2,550
down €2,550 (-31.3%), from €8,150 to €5,600
- Deferred charges and accrued income +€2,311
up €2,311 (+95.2%), from €2,428 to €4,740
- Other debts -€16,994
no longer reported in 2025 (was €16,994)
- Trade debts +€12,382
up €12,382 (+88.9%), from €13,920 to €26,302
- Reserves +€8,582
up €8,582 (+15.0%), from €57,043 to €65,625
- Debts after one year -€5,955
down €5,955 (-30.3%), from €19,633 to €13,677
- Tax, wage and social debts +€3,448
up €3,448 (+236%), from €1,463 to €4,912
of which Remuneration and social security: +€2,824
- Staff costs -€17,481
down €17,481 (-38.6%), from €45,266 to €27,785
- Gross operating margin -€13,046
down €13,046 (-19.6%), from €66,426 to €53,380
- Depreciation +€738
up €738 (+11.5%), from €6,395 to €7,133
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 | €134,795 | €136,503 | +€1,708 | +1.3% |
| Fixed assets | 21/28 | €29,095 | €22,704 | -€6,390 | -22.0% |
| Tangible fixed assets | 22/27 | €29,028 | €22,637 | -€6,390 | -22.0% |
| Furniture and vehicles | 24 | €29,028 | €22,637 | -€6,390 | -22.0% |
| Financial fixed assets | 28 | €67 | €67 | = | 0.0% |
| Current assets | 29/58 | €105,700 | €113,798 | +€8,098 | +7.7% |
| Stocks and contracts in progress | 3 | €8,150 | €5,600 | -€2,550 | -31.3% |
| Stocks | 30/36 | €8,150 | €5,600 | -€2,550 | -31.3% |
| Amounts receivable within one year | 40/41 | €36,438 | €8,099 | -€28,339 | -77.8% |
| Trade receivables | 40 | €35,332 | €6,474 | -€28,858 | -81.7% |
| Other amounts receivable | 41 | €1,106 | €1,625 | +€519 | +47.0% |
| Cash at bank and in hand | 54/58 | €58,684 | €95,360 | +€36,676 | +62.5% |
| Deferred charges and accrued income | 490/1 | €2,428 | €4,740 | +€2,311 | +95.2% |
| Total equity and liabilities | 10/49 | €134,795 | €136,503 | +€1,708 | +1.3% |
| Equity | 10/15 | €77,043 | €85,625 | +€8,582 | +11.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €57,043 | €65,625 | +€8,582 | +15.0% |
| Distributable reserves | 133 | €57,043 | €65,625 | +€8,582 | +15.0% |
| Amounts payable | 17/49 | €57,752 | €50,878 | -€6,874 | -11.9% |
| Amounts payable after more than one year | 17 | €19,633 | €13,677 | -€5,955 | -30.3% |
| Financial debts | 170/4 | €19,633 | €13,677 | -€5,955 | -30.3% |
| Amounts payable within one year | 42/48 | €38,119 | €37,170 | -€949 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €5,741 | €5,955 | +€214 | +3.7% |
| Trade debts | 44 | €13,920 | €26,302 | +€12,382 | +88.9% |
| Suppliers | 440/4 | €13,920 | €26,302 | +€12,382 | +88.9% |
| Taxes, remuneration and social security | 45 | €1,463 | €4,912 | +€3,448 | +236% |
| Taxes | 450/3 | - | €625 | +€625 | |
| Remuneration and social security | 454/9 | €1,463 | €4,287 | +€2,824 | +193% |
| Other amounts payable | 47/48 | €16,994 | - | -€16,994 | |
| Accrued charges and deferred income | 492/3 | - | €31 | +€31 | |
| Non-recurring operating income | 76A | €575 | - | -€575 | |
| Remuneration, social security and pensions | 62 | €45,266 | €27,785 | -€17,481 | -38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,395 | €7,133 | +€738 | +11.5% |
| Other operating charges | 640/8 | €2,264 | €2,366 | +€102 | +4.5% |
| Gross operating margin | 9900 | €66,426 | €53,380 | -€13,046 | -19.6% |
| Operating profit (loss) | 9901 | €12,500 | €16,096 | +€3,596 | +28.8% |
| Financial income | 75/76B | €234 | €73 | -€161 | -68.9% |
| Recurring financial income | 75 | €234 | €73 | -€161 | -68.9% |
| Financial charges | 65/66B | €1,858 | €1,282 | -€576 | -31.0% |
| Recurring financial charges | 65 | €1,858 | €1,282 | -€576 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €10,876 | €14,887 | +€4,011 | +36.9% |
| Income taxes | 67/77 | €5,785 | €6,305 | +€520 | +9.0% |
| Profit (loss) for the period | 9904 | €5,092 | €8,582 | +€3,491 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,092 | €8,582 | +€3,491 | +68.6% |
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 22 October 2026 via checked.be.