Robert ZINK: 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.
Robert ZINK
Largest movements
- Current investments -€299,915
down €299,915 (-96.7%), from €310,083 to €10,169
- Cash +€296,337
up €296,337 (+229.9%), from €128,898 to €425,235
mainly Current investments (+€299,915) and Net result for the year (+€221,083)
- Tangible fixed assets -€59,928
down €59,928 (-31.3%), from €191,259 to €131,331
of which Furniture and vehicles: -€45,955
- Receivables within one year +€44,982
up €44,982 (+33.0%), from €136,222 to €181,204
of which Trade receivables: +€88,837
- Stocks and contracts +€24,262
up €24,262 (+14.7%), from €164,509 to €188,771
- Advances received +€124,998
up €124,998 (+100.7%), from €124,130 to €249,128
- Tax, wage and social debts -€68,158
down €68,158 (-90.3%), from €75,516 to €7,358
of which Remuneration and social security: -€51,249
- Other debts +€53,183
up €53,183 (+24.0%), from €221,600 to €274,783
- Reserves -€53,017
down €53,017 (-16.2%), from €327,176 to €274,160
- Debts after one year -€31,593
down €31,593 (-56.4%), from €56,054 to €24,461
- Staff costs -€168,274
down €168,274 (-29.0%), from €580,137 to €411,862
- Gross operating margin +€71,360
up €71,360 (+10.0%), from €713,354 to €784,714
- Taxes +€58,905
up €58,905 (+359.3%), from €16,395 to €75,300
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 | €941,823 | €937,372 | -€4,451 | -0.5% |
| Fixed assets | 21/28 | €191,592 | €131,406 | -€60,186 | -31.4% |
| Intangible fixed assets | 21 | €259 | - | -€259 | |
| Tangible fixed assets | 22/27 | €191,259 | €131,331 | -€59,928 | -31.3% |
| Plant, machinery and equipment | 23 | €4,914 | €2,522 | -€2,393 | -48.7% |
| Furniture and vehicles | 24 | €122,092 | €76,138 | -€45,955 | -37.6% |
| Other tangible fixed assets | 26 | €64,252 | €52,672 | -€11,580 | -18.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €750,231 | €805,966 | +€55,735 | +7.4% |
| Stocks and contracts in progress | 3 | €164,509 | €188,771 | +€24,262 | +14.7% |
| Stocks | 30/36 | €164,509 | €188,771 | +€24,262 | +14.7% |
| Amounts receivable within one year | 40/41 | €136,222 | €181,204 | +€44,982 | +33.0% |
| Trade receivables | 40 | €62,749 | €151,586 | +€88,837 | +141.6% |
| Other amounts receivable | 41 | €73,472 | €29,617 | -€43,855 | -59.7% |
| Current investments | 50/53 | €310,083 | €10,169 | -€299,915 | -96.7% |
| Cash at bank and in hand | 54/58 | €128,898 | €425,235 | +€296,337 | +229.9% |
| Deferred charges and accrued income | 490/1 | €10,519 | €588 | -€9,931 | -94.4% |
| Total equity and liabilities | 10/49 | €941,823 | €937,372 | -€4,451 | -0.5% |
| Equity | 10/15 | €377,426 | €324,410 | -€53,017 | -14.0% |
| Contributions | 10/11 | €50,250 | €50,250 | = | 0.0% |
| Reserves | 13 | €327,176 | €274,160 | -€53,017 | -16.2% |
| Distributable reserves | 133 | €327,176 | €274,160 | -€53,017 | -16.2% |
| Amounts payable | 17/49 | €564,397 | €612,962 | +€48,565 | +8.6% |
| Amounts payable after more than one year | 17 | €56,054 | €24,461 | -€31,593 | -56.4% |
| Financial debts | 170/4 | €56,054 | €24,461 | -€31,593 | -56.4% |
| Amounts payable within one year | 42/48 | €508,343 | €588,501 | +€80,158 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €53,531 | €31,593 | -€21,938 | -41.0% |
| Trade debts | 44 | €33,565 | €25,639 | -€7,926 | -23.6% |
| Suppliers | 440/4 | €33,565 | €25,639 | -€7,926 | -23.6% |
| Advances received on contracts in progress | 46 | €124,130 | €249,128 | +€124,998 | +100.7% |
| Taxes, remuneration and social security | 45 | €75,516 | €7,358 | -€68,158 | -90.3% |
| Taxes | 450/3 | €16,927 | €18 | -€16,909 | -99.9% |
| Remuneration and social security | 454/9 | €58,590 | €7,340 | -€51,249 | -87.5% |
| Other amounts payable | 47/48 | €221,600 | €274,783 | +€53,183 | +24.0% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €580,137 | €411,862 | -€168,274 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,795 | €60,773 | -€6,022 | -9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,741 | €12,741 | +€2,000 | +18.6% |
| Other operating charges | 640/8 | €3,284 | €8,450 | +€5,166 | +157.3% |
| Non-recurring operating charges | 66A | - | €1,166 | +€1,166 | |
| Gross operating margin | 9900 | €713,354 | €784,714 | +€71,360 | +10.0% |
| Operating profit (loss) | 9901 | €52,398 | €289,722 | +€237,324 | +452.9% |
| Financial income | 75/76B | €9,403 | €13,320 | +€3,916 | +41.7% |
| Recurring financial income | 75 | €9,403 | €13,320 | +€3,916 | +41.7% |
| Financial charges | 65/66B | €5,605 | €6,659 | +€1,053 | +18.8% |
| Recurring financial charges | 65 | €5,605 | €6,659 | +€1,053 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €56,196 | €296,383 | +€240,187 | +427.4% |
| Income taxes | 67/77 | €16,395 | €75,300 | +€58,905 | +359.3% |
| Profit (loss) for the period | 9904 | €39,801 | €221,083 | +€181,282 | +455.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,801 | €221,083 | +€181,282 | +455.5% |
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.