ZeBorne: 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
ZeBorne
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€55,853
2024 · -€248,185+€192,332
Equity
€1.0m
2024 · €1.1m-€55,853
Cash
€181,319
2024 · €164,144+€17,175
Balance sheet total
€2.1m
2024 · €1.7m+€341,722
Largest movements
Assets
- Stocks and contracts +€230,450
up €230,450 (+35.9%), from €642,526 to €872,976
- Deferred charges and accrued income +€125,699
up €125,699 (+416%), from €30,239 to €155,937
- Receivables within one year -€52,761
down €52,761 (-7.8%), from €673,822 to €621,061
of which Trade receivables: -€54,236
- Intangible fixed assets +€40,771
up €40,771 (+35.0%), from €116,400 to €157,171
Equity and liabilities
- Trade debts +€375,284
up €375,284 (+228%), from €164,498 to €539,782
- Profit (loss) carried forward -€55,853
down €55,853 (-3.0%), from -€1.9m to -€1.9m
- Tax, wage and social debts +€27,184
up €27,184 (+18.9%), from €143,649 to €170,833
of which Remuneration and social security: +€28,748
Income statement
- Turnover +€726,262
up €726,262 (+29.0%), from €2.5m to €3.2m
- Goods and materials +€153,961
up €153,961 (+9.1%), from €1.7m to €1.9m
of which Purchases: +€387,619
- Staff costs +€77,246
up €77,246 (+9.2%), from €842,028 to €919,275
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
-€248,185
Turnover
+€726,262
Other operating income
+€878
Goods and materials
-€153,961
Services and other goods
+€23,998
Staff costs
-€77,246
Depreciation
-€8,964
Other operating charges
-€534
Other operating items
-€319,387
Financial income
+€393
Financial charges
-€1,940
Taxes
+€2,834
Result 2025
-€55,853
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€148,966
Investment
-€127,470
Financing
-€4,321
Cash 2024
€164,144
From operations (derived)
+€148,966
Net result for the year
-€55,853
Depreciation
+€106,310
Stocks and contracts
-€230,450
Receivables within one year
+€52,761
Deferred charges and accrued income
-€125,699
Trade debts
+€375,284
Tax, wage and social debts
+€27,184
Accrued charges and deferred income
-€572
Investment (derived)
-€127,470
Investment in fixed assets (net)
-€127,470
Financing
-€4,321
Current portion of long-term debt
-€4,321
Cash 2025
€181,319
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,728,711 | €2,070,433 | +€341,722 | +19.8% |
| Formation expenses | 20 | €2,575 | €792 | -€1,784 | -69.3% |
| Fixed assets | 21/28 | €215,405 | €238,348 | +€22,944 | +10.7% |
| Intangible fixed assets | 21 | €116,400 | €157,171 | +€40,771 | +35.0% |
| Tangible fixed assets | 22/27 | €91,198 | €77,285 | -€13,912 | -15.3% |
| Plant, machinery and equipment | 23 | €28,321 | €20,590 | -€7,730 | -27.3% |
| Furniture and vehicles | 24 | €42,598 | €42,136 | -€463 | -1.1% |
| Leasing and similar rights | 25 | €18,137 | €13,237 | -€4,900 | -27.0% |
| Other tangible fixed assets | 26 | €2,142 | €1,322 | -€820 | -38.3% |
| Financial fixed assets | 28 | €7,807 | €3,892 | -€3,915 | -50.1% |
| Affiliated companies | 280/1 | €7,807 | - | -€7,807 | |
| Participating interests | 280 | €7,807 | - | -€7,807 | |
| Other financial fixed assets | 284/8 | - | €3,892 | +€3,892 | |
| Amounts receivable and cash guarantees | 285/8 | - | €3,892 | +€3,892 | |
| Current assets | 29/58 | €1,510,731 | €1,831,293 | +€320,562 | +21.2% |
| Stocks and contracts in progress | 3 | €642,526 | €872,976 | +€230,450 | +35.9% |
| Stocks | 30/36 | €642,526 | €872,976 | +€230,450 | +35.9% |
| Goods purchased for resale | 34 | €642,526 | €872,976 | +€230,450 | +35.9% |
| Amounts receivable within one year | 40/41 | €673,822 | €621,061 | -€52,761 | -7.8% |
| Trade receivables | 40 | €537,748 | €483,512 | -€54,236 | -10.1% |
| Other amounts receivable | 41 | €136,074 | €137,549 | +€1,474 | +1.1% |
| Cash at bank and in hand | 54/58 | €164,144 | €181,319 | +€17,175 | +10.5% |
| Deferred charges and accrued income | 490/1 | €30,239 | €155,937 | +€125,699 | +416% |
| Total equity and liabilities | 10/49 | €1,728,711 | €2,070,433 | +€341,722 | +19.8% |
| Equity | 10/15 | €1,092,782 | €1,036,929 | -€55,853 | -5.1% |
| Contributions | 10/11 | €2,937,739 | €2,937,739 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,851,157 | -€1,907,010 | -€55,853 | -3.0% |
| Amounts payable | 17/49 | €635,929 | €1,033,504 | +€397,575 | +62.5% |
| Amounts payable after more than one year | 17 | €12,060 | €12,060 | = | 0.0% |
| Financial debts | 170/4 | €12,060 | €12,060 | = | 0.0% |
| Leasing and similar obligations | 172 | - | €12,060 | +€12,060 | |
| Credit institutions | 173 | €12,060 | - | -€12,060 | |
| Amounts payable within one year | 42/48 | €612,468 | €1,010,614 | +€398,147 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €4,321 | - | -€4,321 | |
| Trade debts | 44 | €164,498 | €539,782 | +€375,284 | +228% |
| Suppliers | 440/4 | €164,498 | €539,782 | +€375,284 | +228% |
| Taxes, remuneration and social security | 45 | €143,649 | €170,833 | +€27,184 | +18.9% |
| Taxes | 450/3 | €8,647 | €7,083 | -€1,564 | -18.1% |
| Remuneration and social security | 454/9 | €135,002 | €163,750 | +€28,748 | +21.3% |
| Other amounts payable | 47/48 | €300,000 | €300,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €11,402 | €10,830 | -€572 | -5.0% |
| Operating income | 70/76A | €2,914,807 | €3,322,560 | +€407,753 | +14.0% |
| Turnover | 70 | €2,502,552 | €3,228,814 | +€726,262 | +29.0% |
| Own construction capitalised | 72 | €84,007 | €84,446 | +€439 | +0.5% |
| Other operating income | 74 | €8,422 | €9,300 | +€878 | +10.4% |
| Non-recurring operating income | 76A | €319,826 | - | -€319,826 | |
| Operating charges | 60/66A | €3,136,234 | €3,352,941 | +€216,707 | +6.9% |
| Goods for resale, raw materials and consumables | 60 | €1,698,953 | €1,852,914 | +€153,961 | +9.1% |
| Purchases | 600/8 | €1,695,746 | €2,083,365 | +€387,619 | +22.9% |
| Change in stocks: decrease (increase) | 609 | €3,207 | -€230,450 | -€233,657 | |
| Services and other goods | 61 | €496,765 | €472,767 | -€23,998 | -4.8% |
| Remuneration, social security and pensions | 62 | €842,028 | €919,275 | +€77,246 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,346 | €106,310 | +€8,964 | +9.2% |
| Other operating charges | 640/8 | €1,141 | €1,674 | +€534 | +46.8% |
| Operating profit (loss) | 9901 | -€221,426 | -€30,381 | +€191,046 | +86.3% |
| Financial income | 75/76B | €84 | €477 | +€393 | +465% |
| Recurring financial income | 75 | €84 | €477 | +€393 | +465% |
| Income from financial fixed assets | 750 | - | €45 | +€45 | |
| Income from current assets | 751 | - | €37 | +€37 | |
| Other financial income | 752/9 | €84 | €395 | +€311 | +368% |
| Financial charges | 65/66B | €23,735 | €25,675 | +€1,940 | +8.2% |
| Recurring financial charges | 65 | €23,735 | €25,675 | +€1,940 | +8.2% |
| Debt charges | 650 | - | €23,779 | +€23,779 | |
| Other financial charges | 652/9 | €23,735 | €1,896 | -€21,839 | -92.0% |
| Profit (loss) for the period before taxes | 9903 | -€245,077 | -€55,578 | +€189,498 | +77.3% |
| Income taxes | 67/77 | €3,108 | €274 | -€2,834 | -91.2% |
| Taxes | 670/3 | €3,108 | €274 | -€2,834 | -91.2% |
| Profit (loss) for the period | 9904 | -€248,185 | -€55,853 | +€192,332 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€248,185 | -€55,853 | +€192,332 | +77.5% |
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 13 October 2026 via checked.be.