ZAIN: 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.
ZAIN
Largest movements
- Cash +€15,705
up €15,705 (+125.3%), from €12,533 to €28,238
- Receivables within one year -€2,040
down €2,040 (-70.8%), from €2,882 to €842
of which Trade receivables: -€1,985
- Profit (loss) carried forward +€14,123
no longer reported in 2025 (was -€14,123)
- Trade debts -€5,874
down €5,874 (-99.1%), from €5,929 to €54
- Tax, wage and social debts +€4,560
up €4,560 (+6161.6%), from €74 to €4,634
- Reserves +€2,037
up €2,037 (+593.7%), from €343 to €2,380
of which Distributable reserves: +€2,380
- Other debts -€1,000
down €1,000 (-5.6%), from €18,000 to €17,000
- Gross operating margin +€8,216
up €8,216 (+101.6%), from €8,088 to €16,303
- Taxes +€2,493
up €2,493 (+3368.7%), from €74 to €2,567
- Financial charges -€1,618
down €1,618 (-74.2%), from €2,181 to €562
- Other operating charges -€967
down €967 (-34.7%), from €2,787 to €1,820
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,815 | €42,660 | +€13,846 | +48.1% |
| Current assets | 29/58 | €28,815 | €42,660 | +€13,846 | +48.1% |
| Stocks and contracts in progress | 3 | €13,400 | €13,580 | +€180 | +1.3% |
| Stocks | 30/36 | €13,400 | €13,580 | +€180 | +1.3% |
| Amounts receivable within one year | 40/41 | €2,882 | €842 | -€2,040 | -70.8% |
| Trade receivables | 40 | €2,030 | €45 | -€1,985 | -97.8% |
| Other amounts receivable | 41 | €852 | €797 | -€55 | -6.4% |
| Cash at bank and in hand | 54/58 | €12,533 | €28,238 | +€15,705 | +125.3% |
| Total equity and liabilities | 10/49 | €28,815 | €42,660 | +€13,846 | +48.1% |
| Equity | 10/15 | €4,812 | €20,972 | +€16,161 | +335.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €343 | €2,380 | +€2,037 | +593.7% |
| Non-distributable reserves | 130/1 | €343 | - | -€343 | |
| Reserves not available under the articles | 1311 | €343 | - | -€343 | |
| Distributable reserves | 133 | - | €2,380 | +€2,380 | |
| Profit (loss) carried forward | 14 | -€14,123 | - | +€14,123 | |
| Amounts payable | 17/49 | €24,003 | €21,688 | -€2,315 | -9.6% |
| Amounts payable within one year | 42/48 | €24,003 | €21,688 | -€2,315 | -9.6% |
| Trade debts | 44 | €5,929 | €54 | -€5,874 | -99.1% |
| Suppliers | 440/4 | €5,929 | €54 | -€5,874 | -99.1% |
| Taxes, remuneration and social security | 45 | €74 | €4,634 | +€4,560 | +6161.6% |
| Taxes | 450/3 | €74 | €4,634 | +€4,560 | +6161.6% |
| Other amounts payable | 47/48 | €18,000 | €17,000 | -€1,000 | -5.6% |
| Other operating charges | 640/8 | €2,787 | €1,820 | -€967 | -34.7% |
| Gross operating margin | 9900 | €8,088 | €16,303 | +€8,216 | +101.6% |
| Operating profit (loss) | 9901 | €5,301 | €14,483 | +€9,183 | +173.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,181 | €562 | -€1,618 | -74.2% |
| Recurring financial charges | 65 | €2,181 | €562 | -€1,618 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | €3,120 | €13,921 | +€10,801 | +346.2% |
| Income taxes | 67/77 | €74 | €2,567 | +€2,493 | +3368.7% |
| Profit (loss) for the period | 9904 | €3,046 | €11,354 | +€8,309 | +272.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,046 | €11,354 | +€8,309 | +272.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.