Surgery for Zebra: 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.
Surgery for Zebra
Largest movements
- Cash -€102,918
down €102,918 (-71.2%), from €144,467 to €41,550
mainly Other debts (-€128,345) and Contributions, distributions and other (-€41,000)
- Receivables within one year -€12,911
down €12,911 (-29.2%), from €44,184 to €31,273
of which Trade receivables: -€19,019
- Tangible fixed assets -€12,148
down €12,148 (-27.5%), from €44,219 to €32,071
of which Furniture and vehicles: -€12,613
- Other debts -€128,345
down €128,345 (-56.6%), from €226,698 to €98,353
- Gross operating margin +€1,231
up €1,231 (+1.9%), from €63,596 to €64,826
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 | €235,447 | €106,625 | -€128,822 | -54.7% |
| Fixed assets | 21/28 | €44,219 | €32,071 | -€12,148 | -27.5% |
| Tangible fixed assets | 22/27 | €44,219 | €32,071 | -€12,148 | -27.5% |
| Plant, machinery and equipment | 23 | €1,153 | €1,618 | +€465 | +40.3% |
| Furniture and vehicles | 24 | €43,066 | €30,453 | -€12,613 | -29.3% |
| Current assets | 29/58 | €191,228 | €74,554 | -€116,674 | -61.0% |
| Amounts receivable within one year | 40/41 | €44,184 | €31,273 | -€12,911 | -29.2% |
| Trade receivables | 40 | €35,454 | €16,435 | -€19,019 | -53.6% |
| Other amounts receivable | 41 | €8,730 | €14,838 | +€6,108 | +70.0% |
| Cash at bank and in hand | 54/58 | €144,467 | €41,550 | -€102,918 | -71.2% |
| Deferred charges and accrued income | 490/1 | €2,577 | €1,731 | -€846 | -32.8% |
| Total equity and liabilities | 10/49 | €235,447 | €106,625 | -€128,822 | -54.7% |
| Equity | 10/15 | €3,266 | €2,626 | -€641 | -19.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €766 | €126 | -€641 | -83.6% |
| Amounts payable | 17/49 | €232,181 | €103,999 | -€128,181 | -55.2% |
| Amounts payable within one year | 42/48 | €232,181 | €103,999 | -€128,181 | -55.2% |
| Trade debts | 44 | €2,828 | €3,401 | +€574 | +20.3% |
| Suppliers | 440/4 | €2,828 | €3,401 | +€574 | +20.3% |
| Taxes, remuneration and social security | 45 | €2,655 | €2,246 | -€410 | -15.4% |
| Taxes | 450/3 | €2,655 | €2,246 | -€410 | -15.4% |
| Other amounts payable | 47/48 | €226,698 | €98,353 | -€128,345 | -56.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,356 | €13,553 | +€197 | +1.5% |
| Other operating charges | 640/8 | €612 | €434 | -€177 | -29.0% |
| Gross operating margin | 9900 | €63,596 | €64,826 | +€1,231 | +1.9% |
| Operating profit (loss) | 9901 | €49,628 | €50,839 | +€1,211 | +2.4% |
| Financial income | 75/76B | €1,368 | €890 | -€478 | -35.0% |
| Recurring financial income | 75 | €1,368 | €890 | -€478 | -35.0% |
| Financial charges | 65/66B | €181 | €239 | +€58 | +32.2% |
| Recurring financial charges | 65 | €181 | €239 | +€58 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €50,815 | €51,490 | +€674 | +1.3% |
| Income taxes | 67/77 | €11,378 | €11,130 | -€248 | -2.2% |
| Profit (loss) for the period | 9904 | €39,437 | €40,359 | +€923 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,437 | €40,359 | +€923 | +2.3% |
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 21 October 2026 via checked.be.