ZEEV: 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.
What changed
ZEEV
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2023 · €2.7m-€499,944
Equity
€74.9m
2023 · €79.1m-€4.2m
Cash
€170,148
2023 · €614,214-€444,066
Balance sheet total
€83.1m
2023 · €79.3m+€3.8m
Largest movements
Assets
- Financial fixed assets +€1.7m
up €1.7m (+6566.1%), from €25,512 to €1.7m
- Tangible fixed assets +€967,454
up €967,454 (+25.5%), from €3.8m to €4.8m
of which Land and buildings: +€1.0m
- Current investments +€943,514
up €943,514 (+1.3%), from €71.8m to €72.8m
Equity and liabilities
- Other debts +€6.4m
new in 2024: €6.4m
- Reserves -€4.2m
down €4.2m (-16.9%), from €25.1m to €20.8m
of which Distributable reserves: -€4.2m
- Debts after one year +€1.5m
up €1.5m (+57438.0%), from €2,630 to €1.5m
of which Financial debts: +€1.5m
Income statement
- Financial charges +€2.1m
up €2.1m, from -€823,722 to €1.3m
- Financial income +€1.9m
up €1.9m (+80.1%), from €2.4m to €4.3m
- Taxes +€318,548
up €318,548 (+2753.7%), from €11,568 to €330,116
- Gross operating margin +€117,278
up €117,278 (+57.2%), from -€204,855 to -€87,577
- Other operating charges +€54,069
up €54,069 (+42.8%), from €126,395 to €180,464
From the 2023 result to the 2024 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 2023
€2.7m
Gross operating margin
+€117,278
Staff costs
+€151
Depreciation
-€41,525
Write-downs
+€5,587
Other operating charges
-€54,069
Financial income
+€1.9m
Financial charges
-€2.1m
Taxes
-€318,548
Result 2024
€2.2m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€8.2m
Investment
-€3.8m
Financing
-€4.9m
Cash 2023
€614,214
From operations (derived)
+€8.2m
Net result for the year
+€2.2m
Depreciation
+€190,941
Receivables after one year
-€77,765
Receivables within one year
-€566,838
Smaller working-capital items
+€6,468
Tax, wage and social debts
+€28,485
Other debts
+€6.4m
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€2.8m
Current investments
-€943,514
Financing
-€4.9m
Debts after one year
+€1.5m
Short-term financial debts
+€20,612
Contributions, distributions and other
-€6.4m
Cash 2024
€170,148
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,336,924 | €83,117,270 | +€3.8m | +4.8% |
| Fixed assets | 21/28 | €3,813,095 | €6,455,687 | +€2.6m | +69.3% |
| Tangible fixed assets | 22/27 | €3,787,583 | €4,755,037 | +€967,454 | +25.5% |
| Land and buildings | 22 | €3,733,699 | €4,752,370 | +€1.0m | +27.3% |
| Furniture and vehicles | 24 | €2,484 | €1,268 | -€1,217 | -49.0% |
| Other tangible fixed assets | 26 | €1,400 | €1,400 | = | 0.0% |
| Assets under construction and advance payments | 27 | €50,000 | €0 | -€50,000 | -100.0% |
| Financial fixed assets | 28 | €25,512 | €1,700,650 | +€1.7m | +6566.1% |
| Current assets | 29/58 | €75,523,829 | €76,661,583 | +€1.1m | +1.5% |
| Amounts receivable after more than one year | 29 | €1,117,349 | €1,195,114 | +€77,765 | +7.0% |
| Other amounts receivable | 291 | €1,117,349 | €1,195,114 | +€77,765 | +7.0% |
| Amounts receivable within one year | 40/41 | €1,950,685 | €2,517,523 | +€566,838 | +29.1% |
| Other amounts receivable | 41 | €1,950,685 | €2,517,523 | +€566,838 | +29.1% |
| Current investments | 50/53 | €71,824,167 | €72,767,680 | +€943,514 | +1.3% |
| Cash at bank and in hand | 54/58 | €614,214 | €170,148 | -€444,066 | -72.3% |
| Deferred charges and accrued income | 490/1 | €17,414 | €11,117 | -€6,297 | -36.2% |
| Total equity and liabilities | 10/49 | €79,336,924 | €83,117,270 | +€3.8m | +4.8% |
| Equity | 10/15 | €79,112,741 | €74,898,198 | -€4.2m | -5.3% |
| Contributions | 10/11 | €753,608 | €753,608 | = | 0.0% |
| Capital | 10 | €753,608 | €753,608 | = | 0.0% |
| Issued capital | 100 | €753,608 | €753,608 | = | 0.0% |
| Reserves | 13 | €25,075,361 | €20,840,361 | -€4.2m | -16.9% |
| Non-distributable reserves | 130/1 | €75,361 | €75,361 | = | 0.0% |
| Legal reserve | 130 | €75,361 | €75,361 | = | 0.0% |
| Distributable reserves | 133 | €25,000,000 | €20,765,000 | -€4.2m | -16.9% |
| Profit (loss) carried forward | 14 | €53,283,772 | €53,304,229 | +€20,457 | 0.0% |
| Amounts payable | 17/49 | €224,184 | €8,219,072 | +€8.0m | +3566.2% |
| Amounts payable after more than one year | 17 | €2,630 | €1,513,250 | +€1.5m | +57438.0% |
| Financial debts | 170/4 | - | €1,500,000 | +€1.5m | |
| Other amounts payable | 178/9 | €2,630 | €13,250 | +€10,620 | +403.8% |
| Amounts payable within one year | 42/48 | €146,209 | €6,623,340 | +€6.5m | +4430.0% |
| Financial debts | 43 | €129,388 | €150,000 | +€20,612 | +15.9% |
| Credit institutions | 430/8 | €129,388 | €150,000 | +€20,612 | +15.9% |
| Trade debts | 44 | €16,822 | €9,854 | -€6,968 | -41.4% |
| Suppliers | 440/4 | €16,822 | €9,854 | -€6,968 | -41.4% |
| Taxes, remuneration and social security | 45 | €0 | €28,485 | +€28,485 | |
| Taxes | 450/3 | €0 | €28,485 | +€28,485 | |
| Other amounts payable | 47/48 | - | €6,435,000 | +€6.4m | |
| Accrued charges and deferred income | 492/3 | €75,344 | €82,483 | +€7,139 | +9.5% |
| Non-recurring operating income | 76A | €19,058 | €0 | -€19,058 | -100.0% |
| Remuneration, social security and pensions | 62 | €151 | €0 | -€151 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,416 | €190,941 | +€41,525 | +27.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,587 | -€5,587 | |
| Other operating charges | 640/8 | €126,395 | €180,464 | +€54,069 | +42.8% |
| Gross operating margin | 9900 | -€204,855 | -€87,577 | +€117,278 | +57.2% |
| Operating profit (loss) | 9901 | -€480,817 | -€453,395 | +€27,422 | +5.7% |
| Financial income | 75/76B | €2,389,064 | €4,301,609 | +€1.9m | +80.1% |
| Recurring financial income | 75 | €2,389,064 | €4,301,609 | +€1.9m | +80.1% |
| Financial charges | 65/66B | -€823,722 | €1,297,640 | +€2.1m | |
| Recurring financial charges | 65 | -€823,722 | €1,297,640 | +€2.1m | |
| Profit (loss) for the period before taxes | 9903 | €2,731,969 | €2,550,573 | -€181,396 | -6.6% |
| Income taxes | 67/77 | €11,568 | €330,116 | +€318,548 | +2753.7% |
| Profit (loss) for the period | 9904 | €2,720,401 | €2,220,457 | -€499,944 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,720,401 | €2,220,457 | -€499,944 | -18.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.