ZAPIO: 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.
ZAPIO
Largest movements
- Intangible fixed assets +€27,695
new in 2025: €27,695
- Cash +€14,302
up €14,302 (+243.1%), from €5,882 to €20,184
mainly Net result for the year (+€21,853) and Accrued charges and deferred income (+€8,365)
- Receivables within one year -€7,239
down €7,239 (-6.1%), from €119,566 to €112,326
of which Other amounts receivable: -€5,046
- Profit (loss) carried forward +€21,853
up €21,853 (+13.1%), from -€167,223 to -€145,370
- Accrued charges and deferred income +€8,365
up €8,365 (+357.3%), from €2,341 to €10,707
- Other debts +€3,041
up €3,041 (+1452.1%), from €209 to €3,251
- Tax, wage and social debts +€1,980
up €1,980 (+165.0%), from €1,200 to €3,181
- Gross operating margin +€96,783
up €96,783, from -€67,418 to €29,365
- Depreciation +€4,852
up €4,852 (+331.6%), from €1,463 to €6,315
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 | €128,500 | €163,187 | +€34,687 | +27.0% |
| Fixed assets | 21/28 | €3,049 | €29,196 | +€26,147 | +857.7% |
| Intangible fixed assets | 21 | - | €27,695 | +€27,695 | |
| Tangible fixed assets | 22/27 | €2,849 | €1,301 | -€1,548 | -54.3% |
| Furniture and vehicles | 24 | €2,849 | €1,301 | -€1,548 | -54.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €125,451 | €133,991 | +€8,540 | +6.8% |
| Amounts receivable within one year | 40/41 | €119,566 | €112,326 | -€7,239 | -6.1% |
| Trade receivables | 40 | €13,769 | €11,575 | -€2,194 | -15.9% |
| Other amounts receivable | 41 | €105,797 | €100,751 | -€5,046 | -4.8% |
| Cash at bank and in hand | 54/58 | €5,882 | €20,184 | +€14,302 | +243.1% |
| Deferred charges and accrued income | 490/1 | €3 | €1,481 | +€1,477 | +44907.0% |
| Total equity and liabilities | 10/49 | €128,500 | €163,187 | +€34,687 | +27.0% |
| Equity | 10/15 | €122,789 | €144,641 | +€21,853 | +17.8% |
| Contributions | 10/11 | €290,012 | €290,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,223 | -€145,370 | +€21,853 | +13.1% |
| Amounts payable | 17/49 | €5,711 | €18,546 | +€12,835 | +224.7% |
| Amounts payable within one year | 42/48 | €3,370 | €7,839 | +€4,469 | +132.6% |
| Financial debts | 43 | €788 | €1,211 | +€423 | +53.7% |
| Credit institutions | 430/8 | €788 | €1,211 | +€423 | +53.7% |
| Trade debts | 44 | €1,172 | €197 | -€976 | -83.2% |
| Suppliers | 440/4 | €1,172 | €197 | -€976 | -83.2% |
| Taxes, remuneration and social security | 45 | €1,200 | €3,181 | +€1,980 | +165.0% |
| Taxes | 450/3 | €1,200 | €3,181 | +€1,980 | +165.0% |
| Other amounts payable | 47/48 | €209 | €3,251 | +€3,041 | +1452.1% |
| Accrued charges and deferred income | 492/3 | €2,341 | €10,707 | +€8,365 | +357.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,463 | €6,315 | +€4,852 | +331.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €579 | +€579 | |
| Other operating charges | 640/8 | €572 | €400 | -€173 | -30.2% |
| Gross operating margin | 9900 | -€67,418 | €29,365 | +€96,783 | |
| Operating profit (loss) | 9901 | -€69,453 | €22,072 | +€91,525 | |
| Financial income | 75/76B | €2 | €3 | +€2 | +121.9% |
| Recurring financial income | 75 | €2 | €3 | +€2 | +121.9% |
| Financial charges | 65/66B | €176 | €223 | +€47 | +26.4% |
| Recurring financial charges | 65 | €176 | €223 | +€47 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | -€69,628 | €21,853 | +€91,480 | |
| Profit (loss) for the period | 9904 | -€69,628 | €21,853 | +€91,480 | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,628 | €21,853 | +€91,480 |
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 8 October 2026 via checked.be.