ZEBRA DESIGN: 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 DESIGN
Largest movements
- Receivables within one year -€40,535
down €40,535 (-64.1%), from €63,220 to €22,685
of which Other amounts receivable: -€37,966
- Cash +€34,240
up €34,240 (+45.1%), from €75,980 to €110,220
mainly Receivables within one year (+€40,535) and Depreciation (+€21,555)
- Tangible fixed assets -€21,555
down €21,555 (-20.0%), from €107,774 to €86,219
- Debts after one year -€24,270
down €24,270 (-21.7%), from €111,616 to €87,346
- Profit (loss) carried forward -€6,230
down €6,230 (-8.1%), from €77,039 to €70,809
- Gross operating margin -€70,842
down €70,842 (-71.1%), from €99,677 to €28,835
- Other operating charges -€7,429
down €7,429 (-62.1%), from €11,963 to €4,534
- Depreciation -€6,909
down €6,909 (-24.3%), from €28,464 to €21,555
- Write-downs +€2,569
new in 2025: €2,569
- Financial charges -€2,141
down €2,141 (-25.5%), from €8,407 to €6,266
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 | €247,643 | €220,114 | -€27,529 | -11.1% |
| Fixed assets | 21/28 | €108,443 | €86,888 | -€21,555 | -19.9% |
| Tangible fixed assets | 22/27 | €107,774 | €86,219 | -€21,555 | -20.0% |
| Land and buildings | 22 | €107,774 | €86,219 | -€21,555 | -20.0% |
| Financial fixed assets | 28 | €669 | €669 | = | 0.0% |
| Current assets | 29/58 | €139,200 | €133,226 | -€5,974 | -4.3% |
| Amounts receivable within one year | 40/41 | €63,220 | €22,685 | -€40,535 | -64.1% |
| Trade receivables | 40 | €16,220 | €13,651 | -€2,569 | -15.8% |
| Other amounts receivable | 41 | €47,000 | €9,034 | -€37,966 | -80.8% |
| Cash at bank and in hand | 54/58 | €75,980 | €110,220 | +€34,240 | +45.1% |
| Deferred charges and accrued income | 490/1 | - | €321 | +€321 | |
| Total equity and liabilities | 10/49 | €247,643 | €220,114 | -€27,529 | -11.1% |
| Equity | 10/15 | €97,490 | €91,260 | -€6,230 | -6.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,039 | €70,809 | -€6,230 | -8.1% |
| Amounts payable | 17/49 | €150,153 | €128,854 | -€21,299 | -14.2% |
| Amounts payable after more than one year | 17 | €111,616 | €87,346 | -€24,270 | -21.7% |
| Financial debts | 170/4 | €111,616 | €87,346 | -€24,270 | -21.7% |
| Amounts payable within one year | 42/48 | €38,537 | €41,508 | +€2,971 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €33,311 | €34,438 | +€1,127 | +3.4% |
| Trade debts | 44 | €326 | €329 | +€3 | +0.9% |
| Suppliers | 440/4 | €326 | €329 | +€3 | +0.9% |
| Taxes, remuneration and social security | 45 | €140 | €141 | +€1 | +0.7% |
| Taxes | 450/3 | €140 | €141 | +€1 | +0.7% |
| Other amounts payable | 47/48 | €4,760 | €6,600 | +€1,840 | +38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,464 | €21,555 | -€6,909 | -24.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,569 | +€2,569 | |
| Other operating charges | 640/8 | €11,963 | €4,534 | -€7,429 | -62.1% |
| Gross operating margin | 9900 | €99,677 | €28,835 | -€70,842 | -71.1% |
| Operating profit (loss) | 9901 | €59,250 | €177 | -€59,073 | -99.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €8,407 | €6,266 | -€2,141 | -25.5% |
| Recurring financial charges | 65 | €8,407 | €6,266 | -€2,141 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €50,844 | -€6,089 | -€56,933 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | €50,704 | -€6,230 | -€56,934 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,704 | -€6,230 | -€56,934 |
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 29 September 2026 via checked.be.