ZEBRA BAR: 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.
ZEBRA BAR
Largest movements
- Cash -€100,857
down €100,857 (-49.5%), from €203,601 to €102,744
mainly Receivables within one year (-€54,175) and Accrued charges and deferred income (-€27,092)
- Receivables within one year +€54,175
up €54,175 (+213.9%), from €25,327 to €79,502
of which Other amounts receivable: +€38,356
- Accrued charges and deferred income -€27,092
no longer reported in 2025 (was €27,092)
- Trade debts -€20,223
down €20,223 (-67.2%), from €30,109 to €9,886
- Tax, wage and social debts +€7,184
up €7,184 (+13.9%), from €51,754 to €58,938
of which Remuneration and social security: +€8,872
- Profit (loss) carried forward -€3,765
down €3,765 (-12.9%), from €29,090 to €25,324
- Gross operating margin +€17,800
up €17,800 (+4.4%), from €407,539 to €425,338
- Staff costs -€15,735
down €15,735 (-3.8%), from €417,908 to €402,173
- Financial charges +€15,631
up €15,631 (+11896.1%), from €131 to €15,763
- Other operating charges -€4,878
down €4,878 (-72.7%), from €6,709 to €1,831
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 | €274,646 | €230,750 | -€43,897 | -16.0% |
| Fixed assets | 21/28 | €15,632 | €13,574 | -€2,058 | -13.2% |
| Tangible fixed assets | 22/27 | €15,130 | €13,073 | -€2,058 | -13.6% |
| Furniture and vehicles | 24 | €15,130 | €13,073 | -€2,058 | -13.6% |
| Financial fixed assets | 28 | €501 | €501 | = | 0.0% |
| Current assets | 29/58 | €259,015 | €217,176 | -€41,839 | -16.2% |
| Stocks and contracts in progress | 3 | €12,250 | €14,604 | +€2,354 | +19.2% |
| Stocks | 30/36 | €12,250 | €14,604 | +€2,354 | +19.2% |
| Amounts receivable within one year | 40/41 | €25,327 | €79,502 | +€54,175 | +213.9% |
| Trade receivables | 40 | €2,795 | €18,614 | +€15,819 | +566.0% |
| Other amounts receivable | 41 | €22,532 | €60,888 | +€38,356 | +170.2% |
| Cash at bank and in hand | 54/58 | €203,601 | €102,744 | -€100,857 | -49.5% |
| Deferred charges and accrued income | 490/1 | €17,837 | €20,326 | +€2,489 | +14.0% |
| Total equity and liabilities | 10/49 | €274,646 | €230,750 | -€43,897 | -16.0% |
| Equity | 10/15 | €161,998 | €158,232 | -€3,765 | -2.3% |
| Contributions | 10/11 | €127,819 | €127,819 | = | 0.0% |
| Reserves | 13 | €5,089 | €5,089 | = | 0.0% |
| Distributable reserves | 133 | €5,089 | €5,089 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,090 | €25,324 | -€3,765 | -12.9% |
| Amounts payable | 17/49 | €112,649 | €72,517 | -€40,131 | -35.6% |
| Amounts payable after more than one year | 17 | €2,790 | €2,790 | = | 0.0% |
| Other amounts payable | 178/9 | €2,790 | €2,790 | = | 0.0% |
| Amounts payable within one year | 42/48 | €82,767 | €69,727 | -€13,040 | -15.8% |
| Trade debts | 44 | €30,109 | €9,886 | -€20,223 | -67.2% |
| Suppliers | 440/4 | €30,109 | €9,886 | -€20,223 | -67.2% |
| Taxes, remuneration and social security | 45 | €51,754 | €58,938 | +€7,184 | +13.9% |
| Taxes | 450/3 | €25,477 | €23,788 | -€1,689 | -6.6% |
| Remuneration and social security | 454/9 | €26,277 | €35,150 | +€8,872 | +33.8% |
| Other amounts payable | 47/48 | €904 | €904 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €27,092 | - | -€27,092 | |
| Remuneration, social security and pensions | 62 | €417,908 | €402,173 | -€15,735 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,174 | €7,224 | -€2,950 | -29.0% |
| Other operating charges | 640/8 | €6,709 | €1,831 | -€4,878 | -72.7% |
| Gross operating margin | 9900 | €407,539 | €425,338 | +€17,800 | +4.4% |
| Operating profit (loss) | 9901 | -€27,252 | €14,111 | +€41,363 | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €131 | €15,763 | +€15,631 | +11896.1% |
| Recurring financial charges | 65 | €131 | €15,763 | +€15,631 | +11896.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,379 | -€1,652 | +€25,727 | +94.0% |
| Income taxes | 67/77 | €0 | €2,114 | +€2,114 | +21135000.0% |
| Profit (loss) for the period | 9904 | -€27,379 | -€3,765 | +€23,614 | +86.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,379 | -€3,765 | +€23,614 | +86.2% |
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 3 October 2026 via checked.be.