ZAPIMMO: 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.
What changed
ZAPIMMO
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€54,061
2024 · €9,187+€44,874
Equity
€1.7m
2024 · €1.7m+€50,894
Cash
€20,442
2024 · €16,331+€4,111
Balance sheet total
€3.5m
2024 · €3.1m+€460,651
Largest movements
Assets
- Tangible fixed assets +€428,008
up €428,008 (+14.1%), from €3.0m to €3.5m
of which Leasing and similar rights: +€545,596
Equity and liabilities
- Debts after one year +€424,843
up €424,843 (+45.5%), from €934,737 to €1.4m
- Profit (loss) carried forward +€98,127
up €98,127 (+29.0%), from -€337,940 to -€239,813
- Reserves -€44,066
down €44,066 (-4.1%), from €1.1m to €1.0m
Income statement
- Gross operating margin +€70,791
up €70,791 (+42.5%), from €166,444 to €237,235
- Depreciation +€25,288
up €25,288 (+18.5%), from €136,998 to €162,286
- Other operating charges +€4,450
up €4,450 (+39.2%), from €11,359 to €15,809
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.
Result 2024
€9,187
Gross operating margin
+€70,791
Depreciation
-€25,288
Other operating charges
-€4,450
Financial income
-€329
Financial charges
+€991
Taxes
+€22
Deferred taxes and other
+€3,137
Result 2025
€54,061
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.
From operations
+€152,495
Investment
-€590,294
Financing
+€441,910
Cash 2024
€16,331
From operations (derived)
+€152,495
Net result for the year
+€54,061
Depreciation
+€162,286
Receivables within one year
-€20,573
Deferred charges and accrued income
-€7,959
Provisions
-€14,689
Smaller working-capital items
+€421
Other debts
-€18,120
Accrued charges and deferred income
-€2,932
Investment (derived)
-€590,294
Investment in fixed assets (net)
-€590,294
Financing
+€441,910
Debts after one year
+€424,843
Current portion of long-term debt
+€20,234
Contributions, distributions and other
-€3,167
Cash 2025
€20,442
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,088,420 | €3,549,071 | +€460,651 | +14.9% |
| Fixed assets | 21/28 | €3,036,883 | €3,464,891 | +€428,008 | +14.1% |
| Tangible fixed assets | 22/27 | €3,036,883 | €3,464,891 | +€428,008 | +14.1% |
| Land and buildings | 22 | €3,036,883 | €2,919,295 | -€117,588 | -3.9% |
| Leasing and similar rights | 25 | - | €545,596 | +€545,596 | |
| Current assets | 29/58 | €51,537 | €84,180 | +€32,643 | +63.3% |
| Amounts receivable within one year | 40/41 | €33,390 | €53,963 | +€20,573 | +61.6% |
| Other amounts receivable | 41 | €33,390 | €53,963 | +€20,573 | +61.6% |
| Cash at bank and in hand | 54/58 | €16,331 | €20,442 | +€4,111 | +25.2% |
| Deferred charges and accrued income | 490/1 | €1,816 | €9,775 | +€7,959 | +438.3% |
| Total equity and liabilities | 10/49 | €3,088,420 | €3,549,071 | +€460,651 | +14.9% |
| Equity | 10/15 | €1,662,797 | €1,713,691 | +€50,894 | +3.1% |
| Contributions | 10/11 | €908,534 | €908,534 | = | 0.0% |
| Reserves | 13 | €1,063,695 | €1,019,629 | -€44,066 | -4.1% |
| Tax-exempt reserves | 132 | €1,063,695 | €1,019,629 | -€44,066 | -4.1% |
| Profit (loss) carried forward | 14 | -€337,940 | -€239,813 | +€98,127 | +29.0% |
| Investment grants | 15 | €28,508 | €25,341 | -€3,167 | -11.1% |
| Provisions and deferred taxes | 16 | €354,565 | €339,876 | -€14,689 | -4.1% |
| Deferred taxes | 168 | €354,565 | €339,876 | -€14,689 | -4.1% |
| Amounts payable | 17/49 | €1,071,058 | €1,495,504 | +€424,446 | +39.6% |
| Amounts payable after more than one year | 17 | €934,737 | €1,359,580 | +€424,843 | +45.5% |
| Financial debts | 170/4 | €934,737 | €1,359,580 | +€424,843 | +45.5% |
| Amounts payable within one year | 42/48 | €127,176 | €129,711 | +€2,535 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €102,042 | €122,276 | +€20,234 | +19.8% |
| Trade debts | 44 | €304 | €445 | +€141 | +46.4% |
| Suppliers | 440/4 | €304 | €445 | +€141 | +46.4% |
| Taxes, remuneration and social security | 45 | - | €280 | +€280 | |
| Taxes | 450/3 | - | €280 | +€280 | |
| Other amounts payable | 47/48 | €24,830 | €6,710 | -€18,120 | -73.0% |
| Accrued charges and deferred income | 492/3 | €9,145 | €6,213 | -€2,932 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,998 | €162,286 | +€25,288 | +18.5% |
| Other operating charges | 640/8 | €11,359 | €15,809 | +€4,450 | +39.2% |
| Gross operating margin | 9900 | €166,444 | €237,235 | +€70,791 | +42.5% |
| Operating profit (loss) | 9901 | €18,087 | €59,140 | +€41,053 | +227.0% |
| Financial income | 75/76B | €475 | €146 | -€329 | -69.3% |
| Recurring financial income | 75 | €475 | €146 | -€329 | -69.3% |
| Financial charges | 65/66B | €20,915 | €19,924 | -€991 | -4.7% |
| Recurring financial charges | 65 | €20,915 | €19,924 | -€991 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,353 | €39,362 | +€41,715 | |
| Transfer from deferred taxes | 780 | €11,551 | €14,688 | +€3,137 | +27.2% |
| Income taxes | 67/77 | €11 | -€11 | -€22 | |
| Profit (loss) for the period | 9904 | €9,187 | €54,061 | +€44,874 | +488.5% |
| Transfer from tax-exempt reserves | 789 | €34,653 | €44,066 | +€9,413 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,840 | €98,127 | +€54,287 | +123.8% |
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 12 October 2026 via checked.be.