Zebra Academy: 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.
Zebra Academy
Largest movements
- Cash -€6,736
down €6,736 (-6.8%), from €98,900 to €92,165
mainly Net result for the year (-€4,857) and Investment in fixed assets (net) (-€4,336)
- Tangible fixed assets +€2,958
up €2,958 (+193%), from €1,534 to €4,492
of which Furniture and vehicles: +€4,492
- Profit (loss) carried forward -€4,857
down €4,857 (-5.9%), from €82,686 to €77,829
- Trade debts +€1,329
up €1,329 (+1,104%), from €120 to €1,449
- Gross operating margin -€25,659
down €25,659, from €22,214 to -€3,446
- Taxes -€5,669
no longer reported in 2025 (was €5,669)
- Depreciation +€1,365
up €1,365 (+10,767%), from €13 to €1,378
- Other operating charges -€387
no longer reported in 2025 (was €387)
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 | €102,968 | €99,377 | -€3,591 | -3.5% |
| Fixed assets | 21/28 | €1,534 | €4,492 | +€2,958 | +193% |
| Tangible fixed assets | 22/27 | €1,534 | €4,492 | +€2,958 | +193% |
| Plant, machinery and equipment | 23 | €1,534 | - | -€1,534 | |
| Furniture and vehicles | 24 | - | €4,492 | +€4,492 | |
| Current assets | 29/58 | €101,434 | €94,885 | -€6,549 | -6.5% |
| Amounts receivable within one year | 40/41 | €2,534 | €2,721 | +€187 | +7.4% |
| Trade receivables | 40 | - | €1,919 | +€1,919 | |
| Other amounts receivable | 41 | €2,534 | €802 | -€1,732 | -68.3% |
| Cash at bank and in hand | 54/58 | €98,900 | €92,165 | -€6,736 | -6.8% |
| Total equity and liabilities | 10/49 | €102,968 | €99,377 | -€3,591 | -3.5% |
| Equity | 10/15 | €99,541 | €94,684 | -€4,857 | -4.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Uncalled capital | 101 | €3,550 | €3,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,686 | €77,829 | -€4,857 | -5.9% |
| Amounts payable | 17/49 | €3,428 | €4,694 | +€1,266 | +36.9% |
| Amounts payable within one year | 42/48 | €3,428 | €4,694 | +€1,266 | +36.9% |
| Trade debts | 44 | €120 | €1,449 | +€1,329 | +1,104% |
| Suppliers | 440/4 | €120 | €1,449 | +€1,329 | +1,104% |
| Taxes, remuneration and social security | 45 | €69 | - | -€69 | |
| Taxes | 450/3 | €69 | - | -€69 | |
| Other amounts payable | 47/48 | €3,239 | €3,244 | +€6 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13 | €1,378 | +€1,365 | +10,767% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €22,214 | -€3,446 | -€25,659 | |
| Operating profit (loss) | 9901 | €21,813 | -€4,824 | -€26,637 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €57 | €34 | -€23 | -40.3% |
| Recurring financial charges | 65 | €57 | €34 | -€23 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €21,757 | -€4,857 | -€26,614 | |
| Income taxes | 67/77 | €5,669 | - | -€5,669 | |
| Profit (loss) for the period | 9904 | €16,088 | -€4,857 | -€20,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,088 | -€4,857 | -€20,945 |
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 28 October 2026 via checked.be.