De Zilvervis: 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 Zilvervis
Largest movements
- Financial fixed assets -€87,500
no longer reported in 2025 (was €87,500)
- Cash +€67,433
up €67,433 (+75.5%), from €89,274 to €156,707
mainly Net result for the year (+€83,162) and Investment in fixed assets (net) (+€46,013)
- Receivables within one year +€20,621
up €20,621 (+7.6%), from €269,822 to €290,444
of which Trade receivables: +€23,570
- Deferred charges and accrued income +€15,182
up €15,182 (+1168.7%), from €1,299 to €16,481
- Stocks and contracts -€11,510
down €11,510 (-57.5%), from €20,010 to €8,500
- Profit (loss) carried forward +€38,162
up €38,162 (+19.3%), from €197,908 to €236,070
- Trade debts +€30,723
up €30,723 (+27.3%), from €112,675 to €143,398
- Other debts -€24,612
down €24,612 (-61.5%), from €40,000 to €15,388
- Debts after one year -€21,539
down €21,539 (-30.4%), from €70,771 to €49,232
- Current portion of long-term debt -€12,322
down €12,322 (-26.0%), from €47,315 to €34,994
- Financial charges +€87,413
up €87,413 (+988.3%), from €8,845 to €96,258
- Gross operating margin -€32,461
down €32,461 (-8.5%), from €382,703 to €350,242
- Staff costs +€18,092
up €18,092 (+26.4%), from €68,620 to €86,711
- Taxes -€6,411
down €6,411 (-11.7%), from €54,597 to €48,187
- Depreciation +€3,865
up €3,865 (+13.9%), from €27,705 to €31,570
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 | €568,214 | €582,357 | +€14,143 | +2.5% |
| Fixed assets | 21/28 | €187,809 | €110,225 | -€77,584 | -41.3% |
| Tangible fixed assets | 22/27 | €100,309 | €110,225 | +€9,916 | +9.9% |
| Land and buildings | 22 | €178 | - | -€178 | |
| Plant, machinery and equipment | 23 | €2,917 | €7,930 | +€5,013 | +171.8% |
| Furniture and vehicles | 24 | €97,214 | €102,295 | +€5,082 | +5.2% |
| Financial fixed assets | 28 | €87,500 | - | -€87,500 | |
| Current assets | 29/58 | €380,405 | €472,132 | +€91,727 | +24.1% |
| Stocks and contracts in progress | 3 | €20,010 | €8,500 | -€11,510 | -57.5% |
| Stocks | 30/36 | €20,010 | €8,500 | -€11,510 | -57.5% |
| Amounts receivable within one year | 40/41 | €269,822 | €290,444 | +€20,621 | +7.6% |
| Trade receivables | 40 | €266,874 | €290,444 | +€23,570 | +8.8% |
| Other amounts receivable | 41 | €2,949 | - | -€2,949 | |
| Cash at bank and in hand | 54/58 | €89,274 | €156,707 | +€67,433 | +75.5% |
| Deferred charges and accrued income | 490/1 | €1,299 | €16,481 | +€15,182 | +1168.7% |
| Total equity and liabilities | 10/49 | €568,214 | €582,357 | +€14,143 | +2.5% |
| Equity | 10/15 | €291,046 | €329,208 | +€38,162 | +13.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €31,165 | €31,165 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,021 | €14,021 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,823 | €7,823 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,144 | €17,144 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,908 | €236,070 | +€38,162 | +19.3% |
| Amounts payable | 17/49 | €277,168 | €253,149 | -€24,019 | -8.7% |
| Amounts payable after more than one year | 17 | €70,771 | €49,232 | -€21,539 | -30.4% |
| Financial debts | 170/4 | €70,771 | €49,232 | -€21,539 | -30.4% |
| Amounts payable within one year | 42/48 | €206,397 | €202,667 | -€3,730 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €47,315 | €34,994 | -€12,322 | -26.0% |
| Trade debts | 44 | €112,675 | €143,398 | +€30,723 | +27.3% |
| Suppliers | 440/4 | €112,675 | €143,398 | +€30,723 | +27.3% |
| Taxes, remuneration and social security | 45 | €6,407 | €8,887 | +€2,480 | +38.7% |
| Taxes | 450/3 | €6,393 | €8,887 | +€2,495 | +39.0% |
| Remuneration and social security | 454/9 | €15 | - | -€15 | |
| Other amounts payable | 47/48 | €40,000 | €15,388 | -€24,612 | -61.5% |
| Accrued charges and deferred income | 492/3 | - | €1,250 | +€1,250 | |
| Remuneration, social security and pensions | 62 | €68,620 | €86,711 | +€18,092 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,705 | €31,570 | +€3,865 | +13.9% |
| Other operating charges | 640/8 | €4,597 | €4,353 | -€244 | -5.3% |
| Non-recurring operating charges | 66A | €1,183 | - | -€1,183 | |
| Gross operating margin | 9900 | €382,703 | €350,242 | -€32,461 | -8.5% |
| Operating profit (loss) | 9901 | €280,599 | €227,607 | -€52,992 | -18.9% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €8,845 | €96,258 | +€87,413 | +988.3% |
| Recurring financial charges | 65 | €8,845 | €96,258 | +€87,413 | +988.3% |
| Profit (loss) for the period before taxes | 9903 | €271,765 | €131,349 | -€140,416 | -51.7% |
| Income taxes | 67/77 | €54,597 | €48,187 | -€6,411 | -11.7% |
| Profit (loss) for the period | 9904 | €217,167 | €83,162 | -€134,005 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €217,167 | €83,162 | -€134,005 | -61.7% |
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 9 October 2026 via checked.be.