ZBOD: 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.
ZBOD
Largest movements
- Tangible fixed assets +€413,831
new in 2025: €413,831
of which Land and buildings: +€346,699
- Cash +€30,295
up €30,295 (+27.5%), from €109,990 to €140,285
mainly Other debts (+€202,303) and Net result for the year (+€181,201)
- Reserves +€259,393
new in 2025: €259,393
- Other debts +€202,303
up €202,303 (+43460.3%), from €465 to €202,769
- Profit (loss) carried forward -€78,193
no longer reported in 2025 (was €78,193)
- Tax, wage and social debts +€36,941
up €36,941 (+188.7%), from €19,577 to €56,518
- Trade debts +€24,281
up €24,281 (+1382.9%), from €1,756 to €26,037
- Gross operating margin +€196,296
up €196,296 (+200.8%), from €97,779 to €294,074
- Depreciation +€54,207
new in 2025: €54,207
- Taxes +€36,941
up €36,941 (+188.7%), from €19,577 to €56,518
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 | €109,990 | €554,716 | +€444,726 | +404.3% |
| Fixed assets | 21/28 | - | €414,131 | +€414,131 | |
| Tangible fixed assets | 22/27 | - | €413,831 | +€413,831 | |
| Land and buildings | 22 | - | €346,699 | +€346,699 | |
| Plant, machinery and equipment | 23 | - | €39,466 | +€39,466 | |
| Furniture and vehicles | 24 | - | €27,666 | +€27,666 | |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €109,990 | €140,585 | +€30,595 | +27.8% |
| Amounts receivable within one year | 40/41 | - | €300 | +€300 | |
| Other amounts receivable | 41 | - | €300 | +€300 | |
| Cash at bank and in hand | 54/58 | €109,990 | €140,285 | +€30,295 | +27.5% |
| Total equity and liabilities | 10/49 | €109,990 | €554,716 | +€444,726 | +404.3% |
| Equity | 10/15 | €88,192 | €269,392 | +€181,201 | +205.5% |
| Contributions | 10/11 | €9,999 | €9,999 | = | 0.0% |
| Reserves | 13 | - | €259,393 | +€259,393 | |
| Distributable reserves | 133 | - | €259,393 | +€259,393 | |
| Profit (loss) carried forward | 14 | €78,193 | - | -€78,193 | |
| Amounts payable | 17/49 | €21,798 | €285,324 | +€263,525 | +1208.9% |
| Amounts payable within one year | 42/48 | €21,798 | €285,324 | +€263,525 | +1208.9% |
| Trade debts | 44 | €1,756 | €26,037 | +€24,281 | +1382.9% |
| Suppliers | 440/4 | €1,756 | €26,037 | +€24,281 | +1382.9% |
| Taxes, remuneration and social security | 45 | €19,577 | €56,518 | +€36,941 | +188.7% |
| Taxes | 450/3 | €19,577 | €56,518 | +€36,941 | +188.7% |
| Other amounts payable | 47/48 | €465 | €202,769 | +€202,303 | +43460.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €54,207 | +€54,207 | |
| Other operating charges | 640/8 | - | €2,086 | +€2,086 | |
| Gross operating margin | 9900 | €97,779 | €294,074 | +€196,296 | +200.8% |
| Operating profit (loss) | 9901 | €97,779 | €237,781 | +€140,003 | +143.2% |
| Financial charges | 65/66B | €9 | €63 | +€54 | +614.3% |
| Recurring financial charges | 65 | €9 | €63 | +€54 | +614.3% |
| Profit (loss) for the period before taxes | 9903 | €97,770 | €237,719 | +€139,949 | +143.1% |
| Income taxes | 67/77 | €19,577 | €56,518 | +€36,941 | +188.7% |
| Profit (loss) for the period | 9904 | €78,193 | €181,201 | +€103,008 | +131.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,193 | €181,201 | +€103,008 | +131.7% |
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 5 October 2026 via checked.be.