Z-ICT: 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.
Z-ICT
Largest movements
- Cash -€46,374
down €46,374 (-52.3%), from €88,710 to €42,336
mainly Investment in fixed assets (net) (-€35,814) and Receivables within one year (-€32,915)
- Receivables within one year +€32,915
up €32,915 (+19.4%), from €169,733 to €202,648
of which Other amounts receivable: +€30,771
- Intangible fixed assets +€23,191
new in 2025: €23,191
- Deferred charges and accrued income +€14,932
up €14,932 (+2,009%), from €743 to €15,675
- Tangible fixed assets -€13,309
down €13,309 (-20.3%), from €65,599 to €52,290
of which Furniture and vehicles: -€16,422
- Reserves +€19,756
up €19,756 (+18.6%), from €106,037 to €125,794
- Trade debts -€13,111
down €13,111 (-16.9%), from €77,455 to €64,344
- Debts after one year +€12,893
up €12,893 (+47.7%), from €27,021 to €39,914
- Tax, wage and social debts -€4,830
down €4,830 (-6.9%), from €70,404 to €65,574
of which Taxes: -€4,830
- Gross operating margin -€124,372
down €124,372 (-68.2%), from €182,356 to €57,984
- Taxes -€39,531
down €39,531 (-80.4%), from €49,172 to €9,641
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 | €329,963 | €341,868 | +€11,905 | +3.6% |
| Fixed assets | 21/28 | €65,599 | €75,481 | +€9,882 | +15.1% |
| Intangible fixed assets | 21 | - | €23,191 | +€23,191 | |
| Tangible fixed assets | 22/27 | €65,599 | €52,290 | -€13,309 | -20.3% |
| Plant, machinery and equipment | 23 | €6,046 | €10,220 | +€4,173 | +69.0% |
| Furniture and vehicles | 24 | €54,392 | €37,969 | -€16,422 | -30.2% |
| Other tangible fixed assets | 26 | €5,161 | €4,101 | -€1,060 | -20.5% |
| Current assets | 29/58 | €264,364 | €266,387 | +€2,023 | +0.8% |
| Amounts receivable within one year | 40/41 | €169,733 | €202,648 | +€32,915 | +19.4% |
| Trade receivables | 40 | €130,209 | €132,353 | +€2,144 | +1.6% |
| Other amounts receivable | 41 | €39,525 | €70,296 | +€30,771 | +77.9% |
| Current investments | 50/53 | €5,178 | €5,728 | +€550 | +10.6% |
| Cash at bank and in hand | 54/58 | €88,710 | €42,336 | -€46,374 | -52.3% |
| Deferred charges and accrued income | 490/1 | €743 | €15,675 | +€14,932 | +2,009% |
| Total equity and liabilities | 10/49 | €329,963 | €341,868 | +€11,905 | +3.6% |
| Equity | 10/15 | €136,173 | €155,929 | +€19,756 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €106,037 | €125,794 | +€19,756 | +18.6% |
| Distributable reserves | 133 | €106,037 | €125,794 | +€19,756 | +18.6% |
| Profit (loss) carried forward | 14 | €11,536 | €11,536 | = | 0.0% |
| Amounts payable | 17/49 | €193,790 | €185,939 | -€7,851 | -4.1% |
| Amounts payable after more than one year | 17 | €27,021 | €39,914 | +€12,893 | +47.7% |
| Financial debts | 170/4 | €27,021 | €39,914 | +€12,893 | +47.7% |
| Amounts payable within one year | 42/48 | €166,769 | €146,025 | -€20,744 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €18,909 | €16,107 | -€2,802 | -14.8% |
| Trade debts | 44 | €77,455 | €64,344 | -€13,111 | -16.9% |
| Suppliers | 440/4 | €77,455 | €64,344 | -€13,111 | -16.9% |
| Taxes, remuneration and social security | 45 | €70,404 | €65,574 | -€4,830 | -6.9% |
| Taxes | 450/3 | €70,404 | €65,574 | -€4,830 | -6.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,767 | €25,932 | +€1,165 | +4.7% |
| Other operating charges | 640/8 | €1,538 | €1,970 | +€432 | +28.1% |
| Gross operating margin | 9900 | €182,356 | €57,984 | -€124,372 | -68.2% |
| Operating profit (loss) | 9901 | €156,051 | €30,082 | -€125,969 | -80.7% |
| Financial income | 75/76B | €831 | €1,703 | +€872 | +105% |
| Recurring financial income | 75 | €831 | €1,703 | +€872 | +105% |
| Financial charges | 65/66B | €1,673 | €2,388 | +€715 | +42.7% |
| Recurring financial charges | 65 | €1,673 | €2,388 | +€715 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €155,209 | €29,397 | -€125,812 | -81.1% |
| Income taxes | 67/77 | €49,172 | €9,641 | -€39,531 | -80.4% |
| Profit (loss) for the period | 9904 | €106,037 | €19,756 | -€86,281 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €106,037 | €19,756 | -€86,281 | -81.4% |
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.