DZN: 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.
DZN
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+33.4%), from €3.2m to €4.3m
- Receivables within one year +€473,654
up €473,654 (+339.0%), from €139,714 to €613,368
of which Trade receivables: +€484,967
- Cash +€217,006
up €217,006 (+715.9%), from €30,314 to €247,320
mainly Net result for the year (+€936,183) and Other debts (+€929,742)
- Tangible fixed assets -€202,336
down €202,336 (-85.4%), from €236,988 to €34,652
of which Land and buildings: -€191,470
- Reserves +€936,183
up €936,183 (+53.5%), from €1.8m to €2.7m
- Other debts +€929,742
up €929,742 (+592.1%), from €157,011 to €1.1m
- Debts after one year -€263,185
down €263,185 (-20.4%), from €1.3m to €1.0m
- Tax, wage and social debts +€150,488
up €150,488 (+154.4%), from €97,458 to €247,946
- Current portion of long-term debt -€147,534
down €147,534 (-39.3%), from €375,510 to €227,975
- Gross operating margin +€634,597
up €634,597 (+383.5%), from €165,476 to €800,072
- Financial income -€306,458
down €306,458 (-38.7%), from €792,591 to €486,133
- Taxes +€167,015
up €167,015 (+156.8%), from €106,534 to €273,550
- Financial charges +€33,703
up €33,703 (+133.4%), from €25,256 to €58,960
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 | €3,716,959 | €5,292,505 | +€1.6m | +42.4% |
| Fixed assets | 21/28 | €3,486,705 | €4,369,948 | +€883,243 | +25.3% |
| Tangible fixed assets | 22/27 | €236,988 | €34,652 | -€202,336 | -85.4% |
| Land and buildings | 22 | €203,605 | €12,136 | -€191,470 | -94.0% |
| Plant, machinery and equipment | 23 | €1,978 | €1,462 | -€515 | -26.1% |
| Furniture and vehicles | 24 | €53 | - | -€53 | |
| Leasing and similar rights | 25 | €31,352 | €21,054 | -€10,298 | -32.8% |
| Financial fixed assets | 28 | €3,249,717 | €4,335,296 | +€1.1m | +33.4% |
| Current assets | 29/58 | €230,254 | €922,556 | +€692,302 | +300.7% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €139,714 | €613,368 | +€473,654 | +339.0% |
| Trade receivables | 40 | - | €484,967 | +€484,967 | |
| Other amounts receivable | 41 | €139,714 | €128,400 | -€11,314 | -8.1% |
| Cash at bank and in hand | 54/58 | €30,314 | €247,320 | +€217,006 | +715.9% |
| Deferred charges and accrued income | 490/1 | €226 | €1,868 | +€1,642 | +725.5% |
| Total equity and liabilities | 10/49 | €3,716,959 | €5,292,505 | +€1.6m | +42.4% |
| Equity | 10/15 | €1,757,065 | €2,693,248 | +€936,183 | +53.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,750,865 | €2,687,048 | +€936,183 | +53.5% |
| Distributable reserves | 133 | €1,750,865 | €2,687,048 | +€936,183 | +53.5% |
| Amounts payable | 17/49 | €1,959,895 | €2,599,257 | +€639,362 | +32.6% |
| Amounts payable after more than one year | 17 | €1,290,629 | €1,027,444 | -€263,185 | -20.4% |
| Financial debts | 170/4 | €1,290,629 | €1,027,444 | -€263,185 | -20.4% |
| Amounts payable within one year | 42/48 | €653,734 | €1,565,083 | +€911,349 | +139.4% |
| Current portion of amounts payable after more than one year | 42 | €375,510 | €227,975 | -€147,534 | -39.3% |
| Trade debts | 44 | €23,755 | €2,409 | -€21,346 | -89.9% |
| Suppliers | 440/4 | €23,755 | €2,409 | -€21,346 | -89.9% |
| Taxes, remuneration and social security | 45 | €97,458 | €247,946 | +€150,488 | +154.4% |
| Taxes | 450/3 | €97,458 | €247,946 | +€150,488 | +154.4% |
| Other amounts payable | 47/48 | €157,011 | €1,086,753 | +€929,742 | +592.1% |
| Accrued charges and deferred income | 492/3 | €15,532 | €6,730 | -€8,802 | -56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,115 | €12,438 | -€5,677 | -31.3% |
| Other operating charges | 640/8 | €3,628 | €5,074 | +€1,446 | +39.9% |
| Gross operating margin | 9900 | €165,476 | €800,072 | +€634,597 | +383.5% |
| Operating profit (loss) | 9901 | €143,733 | €782,560 | +€638,827 | +444.5% |
| Financial income | 75/76B | €792,591 | €486,133 | -€306,458 | -38.7% |
| Recurring financial income | 75 | €792,591 | €486,133 | -€306,458 | -38.7% |
| Financial charges | 65/66B | €25,256 | €58,960 | +€33,703 | +133.4% |
| Recurring financial charges | 65 | €25,256 | €58,960 | +€33,703 | +133.4% |
| Profit (loss) for the period before taxes | 9903 | €911,067 | €1,209,733 | +€298,665 | +32.8% |
| Income taxes | 67/77 | €106,534 | €273,550 | +€167,015 | +156.8% |
| Profit (loss) for the period | 9904 | €804,533 | €936,183 | +€131,650 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €804,533 | €936,183 | +€131,650 | +16.4% |
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 5 October 2026 via checked.be.