MTD ZINKE: 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.
MTD ZINKE
Largest movements
- Receivables within one year +€21,080
up €21,080 (+16.4%), from €128,412 to €149,492
of which Trade receivables: +€70,758
- Cash -€16,293
down €16,293 (-59.4%), from €27,422 to €11,129
mainly Contributions, distributions and other (-€77,100) and Other debts (-€30,923)
- Tangible fixed assets +€4,293
new in 2025: €4,293
of which Furniture and vehicles: +€2,285
- Other debts -€30,923
down €30,923 (-42.9%), from €72,000 to €41,077
- Short-term financial debts +€28,388
new in 2025: €28,388
- Profit (loss) carried forward +€22,673
up €22,673 (+53.4%), from €42,456 to €65,129
- Tax, wage and social debts -€11,801
down €11,801 (-30.4%), from €38,874 to €27,073
- Staff costs -€80,576
down €80,576 (-33.4%), from €241,260 to €160,684
- Gross operating margin -€19,862
down €19,862 (-6.0%), from €333,449 to €313,586
- Taxes +€13,829
up €13,829 (+98.7%), from €14,008 to €27,837
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 | €158,926 | €167,353 | +€8,427 | +5.3% |
| Formation expenses | 20 | €434 | €225 | -€208 | -48.0% |
| Fixed assets | 21/28 | €2,108 | €6,101 | +€3,993 | +189% |
| Intangible fixed assets | 21 | €2,108 | €1,808 | -€300 | -14.2% |
| Tangible fixed assets | 22/27 | - | €4,293 | +€4,293 | |
| Plant, machinery and equipment | 23 | - | €2,008 | +€2,008 | |
| Furniture and vehicles | 24 | - | €2,285 | +€2,285 | |
| Current assets | 29/58 | €156,384 | €161,026 | +€4,642 | +3.0% |
| Amounts receivable within one year | 40/41 | €128,412 | €149,492 | +€21,080 | +16.4% |
| Trade receivables | 40 | €67,835 | €138,593 | +€70,758 | +104% |
| Other amounts receivable | 41 | €60,577 | €10,899 | -€49,677 | -82.0% |
| Cash at bank and in hand | 54/58 | €27,422 | €11,129 | -€16,293 | -59.4% |
| Deferred charges and accrued income | 490/1 | €550 | €405 | -€145 | -26.4% |
| Total equity and liabilities | 10/49 | €158,926 | €167,353 | +€8,427 | +5.3% |
| Equity | 10/15 | €44,956 | €67,629 | +€22,673 | +50.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,456 | €65,129 | +€22,673 | +53.4% |
| Amounts payable | 17/49 | €113,970 | €99,723 | -€14,247 | -12.5% |
| Amounts payable within one year | 42/48 | €113,970 | €99,723 | -€14,247 | -12.5% |
| Financial debts | 43 | - | €28,388 | +€28,388 | |
| Credit institutions | 430/8 | - | €28,388 | +€28,388 | |
| Trade debts | 44 | €3,096 | €3,185 | +€89 | +2.9% |
| Suppliers | 440/4 | €3,096 | €3,185 | +€89 | +2.9% |
| Taxes, remuneration and social security | 45 | €38,874 | €27,073 | -€11,801 | -30.4% |
| Taxes | 450/3 | €38,874 | €27,073 | -€11,801 | -30.4% |
| Other amounts payable | 47/48 | €72,000 | €41,077 | -€30,923 | -42.9% |
| Remuneration, social security and pensions | 62 | €241,260 | €160,684 | -€80,576 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | €562 | +€54 | +10.6% |
| Other operating charges | 640/8 | €680 | €1,502 | +€822 | +121% |
| Gross operating margin | 9900 | €333,449 | €313,586 | -€19,862 | -6.0% |
| Operating profit (loss) | 9901 | €90,999 | €150,838 | +€59,838 | +65.8% |
| Financial income | 75/76B | €2,726 | €2,044 | -€682 | -25.0% |
| Recurring financial income | 75 | €2,726 | €2,044 | -€682 | -25.0% |
| Financial charges | 65/66B | €25,155 | €25,272 | +€117 | +0.5% |
| Recurring financial charges | 65 | €25,155 | €25,272 | +€117 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €68,571 | €127,610 | +€59,039 | +86.1% |
| Income taxes | 67/77 | €14,008 | €27,837 | +€13,829 | +98.7% |
| Profit (loss) for the period | 9904 | €54,562 | €99,773 | +€45,211 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,562 | €99,773 | +€45,211 | +82.9% |
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 19 October 2026 via checked.be.