ZBY: 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.
ZBY
Largest movements
- Deferred charges and accrued income -€19,204
no longer reported in 2025 (was €19,204)
- Cash +€7,310
up €7,310 (+908%), from €805 to €8,114
mainly Deferred charges and accrued income (+€19,204) and Other debts (+€19,142)
- Receivables within one year +€5,785
up €5,785 (+467%), from €1,240 to €7,025
- Financial fixed assets +€4,815
up €4,815 (+758%), from €635 to €5,450
- Trade debts -€21,402
down €21,402 (-98.9%), from €21,642 to €240
- Other debts +€19,142
up €19,142 (+57.8%), from €33,133 to €52,274
- Short-term financial debts -€16,000
no longer reported in 2025 (was €16,000)
- Reserves +€8,246
new in 2025: €8,246
- Tax, wage and social debts +€8,094
up €8,094 (+68.6%), from €11,802 to €19,896
- Gross operating margin -€31,112
down €31,112 (-68.4%), from €45,459 to €14,347
- Taxes -€7,179
down €7,179 (-70.6%), from €10,168 to €2,989
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 | €83,345 | €81,656 | -€1,689 | -2.0% |
| Fixed assets | 21/28 | €6,493 | €10,913 | +€4,420 | +68.1% |
| Tangible fixed assets | 22/27 | €5,858 | €5,463 | -€395 | -6.7% |
| Plant, machinery and equipment | 23 | €1,820 | €2,447 | +€627 | +34.5% |
| Furniture and vehicles | 24 | €4,038 | €3,016 | -€1,022 | -25.3% |
| Financial fixed assets | 28 | €635 | €5,450 | +€4,815 | +758% |
| Current assets | 29/58 | €76,852 | €70,743 | -€6,109 | -7.9% |
| Stocks and contracts in progress | 3 | €55,603 | €55,603 | = | 0.0% |
| Stocks | 30/36 | €55,603 | €55,603 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,240 | €7,025 | +€5,785 | +467% |
| Trade receivables | 40 | €1,240 | €7,025 | +€5,785 | +467% |
| Cash at bank and in hand | 54/58 | €805 | €8,114 | +€7,310 | +908% |
| Deferred charges and accrued income | 490/1 | €19,204 | - | -€19,204 | |
| Total equity and liabilities | 10/49 | €83,345 | €81,656 | -€1,689 | -2.0% |
| Equity | 10/15 | €768 | €9,246 | +€8,478 | +1,104% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €8,246 | +€8,246 | |
| Distributable reserves | 133 | - | €8,246 | +€8,246 | |
| Profit (loss) carried forward | 14 | -€232 | - | +€232 | |
| Amounts payable | 17/49 | €82,577 | €72,410 | -€10,166 | -12.3% |
| Amounts payable within one year | 42/48 | €82,577 | €72,410 | -€10,166 | -12.3% |
| Financial debts | 43 | €16,000 | - | -€16,000 | |
| Other loans | 439 | €16,000 | - | -€16,000 | |
| Trade debts | 44 | €21,642 | €240 | -€21,402 | -98.9% |
| Suppliers | 440/4 | €21,642 | €240 | -€21,402 | -98.9% |
| Taxes, remuneration and social security | 45 | €11,802 | €19,896 | +€8,094 | +68.6% |
| Taxes | 450/3 | €11,802 | €19,896 | +€8,094 | +68.6% |
| Other amounts payable | 47/48 | €33,133 | €52,274 | +€19,142 | +57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,999 | €1,986 | -€14 | -0.7% |
| Other operating charges | 640/8 | €763 | €520 | -€244 | -31.9% |
| Gross operating margin | 9900 | €45,459 | €14,347 | -€31,112 | -68.4% |
| Operating profit (loss) | 9901 | €42,696 | €11,842 | -€30,854 | -72.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €241 | €376 | +€135 | +56.1% |
| Recurring financial charges | 65 | €241 | €376 | +€135 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €42,455 | €11,466 | -€30,989 | -73.0% |
| Income taxes | 67/77 | €10,168 | €2,989 | -€7,179 | -70.6% |
| Profit (loss) for the period | 9904 | €32,287 | €8,478 | -€23,810 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,287 | €8,478 | -€23,810 | -73.7% |
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 18 October 2026 via checked.be.