FABRIZIO TZINARIDIS: what changed
What changed
FABRIZIO TZINARIDIS
NACE 90.202, Performing arts by artistic ensembles
filed annual accounts (NBB)
Net result for the year
-€9,456
2024 · €9,570-€19,026
Equity
€54,124
2024 · €80,704-€26,580
Cash
€4,774
2024 · €3,615+€1,159
Balance sheet total
€63,149
2024 · €116,809-€53,660
Largest movements
Assets
- Receivables within one year -€56,552
down €56,552 (-68.1%), from €83,077 to €26,525
of which Other amounts receivable: -€57,837
- Stocks and contracts +€5,292
new in 2025: €5,292
- Tangible fixed assets -€3,253
down €3,253 (-79.0%), from €4,118 to €864
of which Plant, machinery and equipment: -€2,500
- Financial fixed assets -€3,000
down €3,000 (-11.5%), from €26,000 to €23,000
- Deferred charges and accrued income +€2,694
new in 2025: €2,694
Equity and liabilities
- Profit (loss) carried forward -€26,880
down €26,880 (-33.8%), from €79,604 to €52,724
- Other debts -€16,466
down €16,466 (-83.4%), from €19,743 to €3,277
- Accrued charges and deferred income -€8,945
down €8,945 (-84.6%), from €10,577 to €1,632
Income statement
- Write-downs +€31,000
new in 2025: €31,000
- Financial charges -€5,625
down €5,625 (-45.8%), from €12,294 to €6,669
of which Non-recurring financial charges: -€6,848
- Taxes -€3,361
down €3,361 (-91.1%), from €3,689 to €328
- Gross operating margin +€2,597
up €2,597 (+8.6%), from €30,138 to €32,734
- Financial income +€695
up €695 (+128%), from €543 to €1,239
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€9,570
Gross operating margin
+€2,597
Depreciation
+€376
Write-downs
-€31,000
Other operating charges
-€680
Financial income
+€695
Financial charges
+€5,625
Taxes
+€3,361
Result 2025
-€9,456
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€15,282
Investment
+€3,000
Financing
-€17,124
Cash 2024
€3,615
From operations (derived)
+€15,282
Net result for the year
-€9,456
Depreciation
+€3,253
Stocks and contracts
-€5,292
Receivables within one year
+€56,552
Deferred charges and accrued income
-€2,694
Trade debts
-€833
Tax, wage and social debts
-€836
Other debts
-€16,466
Accrued charges and deferred income
-€8,945
Investment (derived)
+€3,000
Investment in fixed assets (net)
+€3,000
Financing
-€17,124
Contributions, distributions and other
-€17,124
Cash 2025
€4,774
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,809 | €63,149 | -€53,660 | -45.9% |
| Fixed assets | 21/28 | €30,118 | €23,864 | -€6,253 | -20.8% |
| Tangible fixed assets | 22/27 | €4,118 | €864 | -€3,253 | -79.0% |
| Land and buildings | 22 | €819 | €66 | -€753 | -91.9% |
| Plant, machinery and equipment | 23 | €3,299 | €798 | -€2,500 | -75.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €26,000 | €23,000 | -€3,000 | -11.5% |
| Current assets | 29/58 | €86,692 | €39,285 | -€47,407 | -54.7% |
| Stocks and contracts in progress | 3 | - | €5,292 | +€5,292 | |
| Stocks | 30/36 | - | €5,292 | +€5,292 | |
| Amounts receivable within one year | 40/41 | €83,077 | €26,525 | -€56,552 | -68.1% |
| Trade receivables | 40 | - | €1,285 | +€1,285 | |
| Other amounts receivable | 41 | €83,077 | €25,241 | -€57,837 | -69.6% |
| Cash at bank and in hand | 54/58 | €3,615 | €4,774 | +€1,159 | +32.1% |
| Deferred charges and accrued income | 490/1 | - | €2,694 | +€2,694 | |
| Total equity and liabilities | 10/49 | €116,809 | €63,149 | -€53,660 | -45.9% |
| Equity | 10/15 | €80,704 | €54,124 | -€26,580 | -32.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €400 | +€300 | +300% |
| Non-distributable reserves | 130/1 | €100 | €400 | +€300 | +300% |
| Reserves not available under the articles | 1311 | €100 | €400 | +€300 | +300% |
| Profit (loss) carried forward | 14 | €79,604 | €52,724 | -€26,880 | -33.8% |
| Amounts payable | 17/49 | €36,105 | €9,025 | -€27,081 | -75.0% |
| Amounts payable within one year | 42/48 | €25,528 | €7,393 | -€18,135 | -71.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €932 | €99 | -€833 | -89.4% |
| Suppliers | 440/4 | €932 | €99 | -€833 | -89.4% |
| Taxes, remuneration and social security | 45 | €4,853 | €4,017 | -€836 | -17.2% |
| Taxes | 450/3 | €4,853 | €4,017 | -€836 | -17.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,743 | €3,277 | -€16,466 | -83.4% |
| Accrued charges and deferred income | 492/3 | €10,577 | €1,632 | -€8,945 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,629 | €3,253 | -€376 | -10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €31,000 | +€31,000 | |
| Other operating charges | 640/8 | €1,499 | €2,179 | +€680 | +45.4% |
| Gross operating margin | 9900 | €30,138 | €32,734 | +€2,597 | +8.6% |
| Operating profit (loss) | 9901 | €25,010 | -€3,698 | -€28,708 | |
| Financial income | 75/76B | €543 | €1,239 | +€695 | +128% |
| Recurring financial income | 75 | €543 | €1,239 | +€695 | +128% |
| Financial charges | 65/66B | €12,294 | €6,669 | -€5,625 | -45.8% |
| Recurring financial charges | 65 | €5,446 | €6,669 | +€1,223 | +22.5% |
| Non-recurring financial charges | 66B | €6,848 | - | -€6,848 | |
| Profit (loss) for the period before taxes | 9903 | €13,259 | -€9,128 | -€22,387 | |
| Income taxes | 67/77 | €3,689 | €328 | -€3,361 | -91.1% |
| Profit (loss) for the period | 9904 | €9,570 | -€9,456 | -€19,026 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,570 | -€9,456 | -€19,026 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.