ZANNICO: 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.
ZANNICO
Largest movements
- Cash +€28,977
up €28,977 (+18.2%), from €159,618 to €188,595
mainly Other debts (+€41,782) and Net result for the year (+€31,963)
- Receivables within one year -€20,329
down €20,329 (-68.1%), from €29,858 to €9,529
of which Other amounts receivable: -€18,060
- Other debts +€41,782
new in 2025: €41,782
- Reserves -€33,934
down €33,934 (-19.5%), from €174,435 to €140,501
- Tax, wage and social debts +€2,206
up €2,206 (+18.4%), from €12,012 to €14,218
- Gross operating margin -€21,915
down €21,915 (-32.8%), from €66,768 to €44,853
- Taxes -€6,127
down €6,127 (-33.7%), from €18,169 to €12,042
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 | €189,476 | €199,530 | +€10,055 | +5.3% |
| Fixed assets | 21/28 | - | €1,406 | +€1,406 | |
| Tangible fixed assets | 22/27 | - | €1,406 | +€1,406 | |
| Furniture and vehicles | 24 | - | €1,406 | +€1,406 | |
| Current assets | 29/58 | €189,476 | €198,124 | +€8,648 | +4.6% |
| Amounts receivable within one year | 40/41 | €29,858 | €9,529 | -€20,329 | -68.1% |
| Trade receivables | 40 | €11,798 | €9,529 | -€2,269 | -19.2% |
| Other amounts receivable | 41 | €18,060 | - | -€18,060 | |
| Cash at bank and in hand | 54/58 | €159,618 | €188,595 | +€28,977 | +18.2% |
| Total equity and liabilities | 10/49 | €189,476 | €199,530 | +€10,055 | +5.3% |
| Equity | 10/15 | €177,435 | €143,501 | -€33,934 | -19.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €174,435 | €140,501 | -€33,934 | -19.5% |
| Distributable reserves | 133 | €174,435 | €140,501 | -€33,934 | -19.5% |
| Amounts payable | 17/49 | €12,041 | €56,029 | +€43,988 | +365% |
| Amounts payable within one year | 42/48 | €12,041 | €56,029 | +€43,988 | +365% |
| Trade debts | 44 | €29 | €29 | = | 0.0% |
| Suppliers | 440/4 | €29 | €29 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €12,012 | €14,218 | +€2,206 | +18.4% |
| Taxes | 450/3 | €12,012 | €14,218 | +€2,206 | +18.4% |
| Other amounts payable | 47/48 | - | €41,782 | +€41,782 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €333 | +€333 | |
| Other operating charges | 640/8 | €384 | €400 | +€15 | +4.0% |
| Gross operating margin | 9900 | €66,768 | €44,853 | -€21,915 | -32.8% |
| Operating profit (loss) | 9901 | €66,384 | €44,121 | -€22,263 | -33.5% |
| Financial charges | 65/66B | €162 | €116 | -€46 | -28.6% |
| Recurring financial charges | 65 | €162 | €116 | -€46 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €66,221 | €44,005 | -€22,216 | -33.5% |
| Income taxes | 67/77 | €18,169 | €12,042 | -€6,127 | -33.7% |
| Profit (loss) for the period | 9904 | €48,052 | €31,963 | -€16,089 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,052 | €31,963 | -€16,089 | -33.5% |
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 17 October 2026 via checked.be.