ZAIO: 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.
ZAIO
Largest movements
- Cash -€16,917
down €16,917 (-42.3%), from €39,972 to €23,055
mainly Tax, wage and social debts (-€39,008) and Trade debts (-€1,346)
- Receivables within one year -€5,016
down €5,016 (-86.4%), from €5,805 to €790
- Stocks and contracts -€2,756
down €2,756 (-33.9%), from €8,132 to €5,376
- Financial fixed assets +€1,310
up €1,310 (+86.6%), from €1,513 to €2,823
- Tax, wage and social debts -€39,008
down €39,008 (-76.5%), from €50,983 to €11,975
of which Taxes: -€34,941
- Other debts +€17,200
up €17,200 (+46.5%), from €36,964 to €54,164
- Trade debts -€1,346
down €1,346 (-11.5%), from €11,746 to €10,399
- Purchases and services +€27,050
up €27,050 (+23.8%), from €113,456 to €140,507
- Gross operating margin -€22,900
down €22,900 (-37.4%), from €61,254 to €38,354
- Taxes -€22,398
no longer reported in 2025 (was €22,398)
- Other operating charges -€12,267
down €12,267 (-66.6%), from €18,419 to €6,151
- Staff costs -€7,442
down €7,442 (-18.7%), from €39,889 to €32,448
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 | €56,556 | €33,093 | -€23,463 | -41.5% |
| Fixed assets | 21/28 | €1,513 | €2,823 | +€1,310 | +86.6% |
| Financial fixed assets | 28 | €1,513 | €2,823 | +€1,310 | +86.6% |
| Current assets | 29/58 | €55,043 | €30,270 | -€24,773 | -45.0% |
| Stocks and contracts in progress | 3 | €8,132 | €5,376 | -€2,756 | -33.9% |
| Stocks | 30/36 | €8,132 | €5,376 | -€2,756 | -33.9% |
| Amounts receivable within one year | 40/41 | €5,805 | €790 | -€5,016 | -86.4% |
| Other amounts receivable | 41 | €5,805 | €790 | -€5,016 | -86.4% |
| Cash at bank and in hand | 54/58 | €39,972 | €23,055 | -€16,917 | -42.3% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,049 | -€84 | -7.4% |
| Total equity and liabilities | 10/49 | €56,556 | €33,093 | -€23,463 | -41.5% |
| Equity | 10/15 | -€53,037 | -€53,345 | -€309 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,497 | -€73,805 | -€309 | -0.4% |
| Amounts payable | 17/49 | €109,592 | €86,438 | -€23,154 | -21.1% |
| Amounts payable after more than one year | 17 | €9,900 | €9,900 | = | 0.0% |
| Other amounts payable | 178/9 | €9,900 | €9,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €99,692 | €76,538 | -€23,154 | -23.2% |
| Trade debts | 44 | €11,746 | €10,399 | -€1,346 | -11.5% |
| Suppliers | 440/4 | €11,746 | €10,399 | -€1,346 | -11.5% |
| Taxes, remuneration and social security | 45 | €50,983 | €11,975 | -€39,008 | -76.5% |
| Taxes | 450/3 | €43,429 | €8,488 | -€34,941 | -80.5% |
| Remuneration and social security | 454/9 | €7,554 | €3,487 | -€4,067 | -53.8% |
| Other amounts payable | 47/48 | €36,964 | €54,164 | +€17,200 | +46.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €113,456 | €140,507 | +€27,050 | +23.8% |
| Remuneration, social security and pensions | 62 | €39,889 | €32,448 | -€7,442 | -18.7% |
| Other operating charges | 640/8 | €18,419 | €6,151 | -€12,267 | -66.6% |
| Gross operating margin | 9900 | €61,254 | €38,354 | -€22,900 | -37.4% |
| Operating profit (loss) | 9901 | €2,946 | -€245 | -€3,190 | |
| Financial income | 75/76B | €40 | - | -€40 | |
| Recurring financial income | 75 | €40 | - | -€40 | |
| Financial charges | 65/66B | €1,230 | €64 | -€1,166 | -94.8% |
| Recurring financial charges | 65 | €1,230 | €64 | -€1,166 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €1,756 | -€309 | -€2,065 | |
| Income taxes | 67/77 | €22,398 | - | -€22,398 | |
| Profit (loss) for the period | 9904 | -€20,642 | -€309 | +€20,333 | +98.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,642 | -€309 | +€20,333 | +98.5% |
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 30 September 2026 via checked.be.