ECLAIR ZANINI: 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.
ECLAIR ZANINI
Largest movements
- Cash -€56,494
down €56,494 (-17.6%), from €321,363 to €264,869
mainly Net result for the year (-€92,138) and Investment in fixed assets (net) (-€47,368)
- Stocks and contracts -€55,868
down €55,868 (-76.1%), from €73,368 to €17,500
- Profit (loss) carried forward -€92,138
down €92,138 (-155%), from -€59,277 to -€151,415
- Trade debts -€14,277
down €14,277 (-94.0%), from €15,182 to €905
- Tax, wage and social debts -€4,800
down €4,800 (-97.0%), from €4,950 to €150
of which Remuneration and social security: -€4,800
- Depreciation +€46,528
up €46,528 (+1,933%), from €2,408 to €48,935
- Gross operating margin +€10,676
up €10,676 (+20.6%), from -€51,787 to -€41,111
- Financial income -€7,205
down €7,205 (-88.8%), from €8,109 to €905
- Other operating charges +€1,524
up €1,524 (+180%), from €847 to €2,371
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 | €404,171 | €289,393 | -€114,778 | -28.4% |
| Fixed assets | 21/28 | €1,626 | €59 | -€1,567 | -96.4% |
| Tangible fixed assets | 22/27 | €1,587 | €20 | -€1,567 | -98.8% |
| Plant, machinery and equipment | 23 | €85 | €20 | -€66 | -77.2% |
| Furniture and vehicles | 24 | €1,501 | - | -€1,501 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €402,544 | €289,334 | -€113,210 | -28.1% |
| Stocks and contracts in progress | 3 | €73,368 | €17,500 | -€55,868 | -76.1% |
| Stocks | 30/36 | €73,368 | €17,500 | -€55,868 | -76.1% |
| Amounts receivable within one year | 40/41 | €6,214 | €6,099 | -€115 | -1.8% |
| Trade receivables | 40 | €2,575 | €956 | -€1,618 | -62.9% |
| Other amounts receivable | 41 | €3,639 | €5,143 | +€1,503 | +41.3% |
| Cash at bank and in hand | 54/58 | €321,363 | €264,869 | -€56,494 | -17.6% |
| Deferred charges and accrued income | 490/1 | €1,599 | €866 | -€734 | -45.9% |
| Total equity and liabilities | 10/49 | €404,171 | €289,393 | -€114,778 | -28.4% |
| Equity | 10/15 | €369,473 | €277,335 | -€92,138 | -24.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €28,750 | €28,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,750 | €28,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,277 | -€151,415 | -€92,138 | -155% |
| Amounts payable | 17/49 | €34,697 | €12,058 | -€22,639 | -65.2% |
| Amounts payable within one year | 42/48 | €34,697 | €12,058 | -€22,639 | -65.2% |
| Trade debts | 44 | €15,182 | €905 | -€14,277 | -94.0% |
| Suppliers | 440/4 | €15,182 | €905 | -€14,277 | -94.0% |
| Taxes, remuneration and social security | 45 | €4,950 | €150 | -€4,800 | -97.0% |
| Taxes | 450/3 | €150 | €150 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,800 | - | -€4,800 | |
| Other amounts payable | 47/48 | €14,566 | €11,003 | -€3,562 | -24.5% |
| Remuneration, social security and pensions | 62 | €24 | - | -€24 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,408 | €48,935 | +€46,528 | +1,933% |
| Other operating charges | 640/8 | €847 | €2,371 | +€1,524 | +180% |
| Non-recurring operating charges | 66A | €22 | - | -€22 | |
| Gross operating margin | 9900 | -€51,787 | -€41,111 | +€10,676 | +20.6% |
| Operating profit (loss) | 9901 | -€55,087 | -€92,417 | -€37,330 | -67.8% |
| Financial income | 75/76B | €8,109 | €905 | -€7,205 | -88.8% |
| Recurring financial income | 75 | €8,109 | €905 | -€7,205 | -88.8% |
| Financial charges | 65/66B | €367 | €513 | +€146 | +39.7% |
| Recurring financial charges | 65 | €341 | €513 | +€172 | +50.6% |
| Non-recurring financial charges | 66B | €26 | - | -€26 | |
| Profit (loss) for the period before taxes | 9903 | -€47,346 | -€92,026 | -€44,680 | -94.4% |
| Income taxes | 67/77 | €109 | €113 | +€4 | +3.6% |
| Profit (loss) for the period | 9904 | -€47,454 | -€92,138 | -€44,684 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,454 | -€92,138 | -€44,684 | -94.2% |
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 25 October 2026 via checked.be.