S & ZI: 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.
S & ZI
Largest movements
- Tangible fixed assets -€56,525
down €56,525 (-8.1%), from €701,307 to €644,782
of which Land and buildings: -€53,832
- Receivables within one year +€23,599
up €23,599 (+38.9%), from €60,720 to €84,318
of which Trade receivables: +€38,327
- Debts after one year -€58,547
down €58,547 (-13.9%), from €420,503 to €361,956
- Trade debts +€45,405
up €45,405 (+109%), from €41,539 to €86,944
- Other debts -€19,796
down €19,796 (-15.9%), from €124,174 to €104,378
- Gross operating margin -€28,402
down €28,402 (-14.2%), from €199,649 to €171,247
- Staff costs +€12,125
up €12,125 (+16.1%), from €75,141 to €87,266
- Depreciation +€3,775
up €3,775 (+5.7%), from €66,496 to €70,270
- Financial charges -€3,413
down €3,413 (-19.0%), from €17,941 to €14,528
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 | €770,934 | €737,015 | -€33,919 | -4.4% |
| Fixed assets | 21/28 | €701,657 | €645,132 | -€56,525 | -8.1% |
| Tangible fixed assets | 22/27 | €701,307 | €644,782 | -€56,525 | -8.1% |
| Land and buildings | 22 | €667,149 | €613,316 | -€53,832 | -8.1% |
| Plant, machinery and equipment | 23 | €25,014 | €25,187 | +€173 | +0.7% |
| Furniture and vehicles | 24 | €9,144 | €6,279 | -€2,865 | -31.3% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €69,278 | €91,883 | +€22,605 | +32.6% |
| Amounts receivable within one year | 40/41 | €60,720 | €84,318 | +€23,599 | +38.9% |
| Trade receivables | 40 | €0 | €38,327 | +€38,327 | |
| Other amounts receivable | 41 | €60,720 | €45,991 | -€14,728 | -24.3% |
| Cash at bank and in hand | 54/58 | €7,502 | €3,784 | -€3,718 | -49.6% |
| Deferred charges and accrued income | 490/1 | €1,056 | €3,780 | +€2,724 | +258% |
| Total equity and liabilities | 10/49 | €770,934 | €737,015 | -€33,919 | -4.4% |
| Equity | 10/15 | €92,147 | €86,166 | -€5,981 | -6.5% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | - | €105,000 | +€105,000 | |
| Issued capital | 100 | - | €105,000 | +€105,000 | |
| Profit (loss) carried forward | 14 | -€12,853 | -€18,834 | -€5,981 | -46.5% |
| Amounts payable | 17/49 | €678,787 | €650,849 | -€27,938 | -4.1% |
| Amounts payable after more than one year | 17 | €420,503 | €361,956 | -€58,547 | -13.9% |
| Financial debts | 170/4 | €420,503 | €361,956 | -€58,547 | -13.9% |
| Amounts payable within one year | 42/48 | €256,584 | €288,893 | +€32,309 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €78,106 | €81,982 | +€3,876 | +5.0% |
| Trade debts | 44 | €41,539 | €86,944 | +€45,405 | +109% |
| Suppliers | 440/4 | €41,539 | €86,944 | +€45,405 | +109% |
| Taxes, remuneration and social security | 45 | €12,765 | €15,588 | +€2,823 | +22.1% |
| Taxes | 450/3 | €369 | - | -€369 | |
| Remuneration and social security | 454/9 | €12,396 | €15,588 | +€3,192 | +25.8% |
| Other amounts payable | 47/48 | €124,174 | €104,378 | -€19,796 | -15.9% |
| Accrued charges and deferred income | 492/3 | €1,700 | - | -€1,700 | |
| Remuneration, social security and pensions | 62 | €75,141 | €87,266 | +€12,125 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,496 | €70,270 | +€3,775 | +5.7% |
| Other operating charges | 640/8 | €4,875 | €5,173 | +€299 | +6.1% |
| Gross operating margin | 9900 | €199,649 | €171,247 | -€28,402 | -14.2% |
| Operating profit (loss) | 9901 | €53,138 | €8,537 | -€44,601 | -83.9% |
| Financial income | 75/76B | €1,505 | €11 | -€1,494 | -99.3% |
| Recurring financial income | 75 | €1,505 | €11 | -€1,494 | -99.3% |
| Financial charges | 65/66B | €17,941 | €14,528 | -€3,413 | -19.0% |
| Recurring financial charges | 65 | €17,941 | €14,528 | -€3,413 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €36,701 | -€5,981 | -€42,682 | |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | €36,699 | -€5,981 | -€42,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,699 | -€5,981 | -€42,680 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.