ZEIPA: 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.
ZEIPA
Largest movements
- Cash -€7,758
down €7,758 (-42.3%), from €18,349 to €10,591
mainly Net result for the year (-€6,707) and Receivables within one year (-€4,664)
- Tangible fixed assets -€6,609
down €6,609 (-41.7%), from €15,844 to €9,234
- Receivables within one year +€4,664
new in 2025: €4,664
- Profit (loss) carried forward -€6,707
down €6,707 (-32.4%), from €20,679 to €13,972
- Tax, wage and social debts -€2,334
down €2,334 (-97.3%), from €2,400 to €65
- Other debts -€910
no longer reported in 2025 (was €910)
- Gross operating margin -€5,578
down €5,578, from €5,116 to -€462
- Taxes -€322
down €322 (-83.1%), from €387 to €65
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 | €75,191 | €65,222 | -€9,969 | -13.3% |
| Fixed assets | 21/28 | €55,844 | €49,234 | -€6,609 | -11.8% |
| Tangible fixed assets | 22/27 | €15,844 | €9,234 | -€6,609 | -41.7% |
| Furniture and vehicles | 24 | €15,844 | €9,234 | -€6,609 | -41.7% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €19,348 | €15,988 | -€3,360 | -17.4% |
| Amounts receivable within one year | 40/41 | - | €4,664 | +€4,664 | |
| Other amounts receivable | 41 | - | €4,664 | +€4,664 | |
| Cash at bank and in hand | 54/58 | €18,349 | €10,591 | -€7,758 | -42.3% |
| Deferred charges and accrued income | 490/1 | €998 | €733 | -€265 | -26.6% |
| Total equity and liabilities | 10/49 | €75,191 | €65,222 | -€9,969 | -13.3% |
| Equity | 10/15 | €70,760 | €64,054 | -€6,707 | -9.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €42,022 | €42,022 | = | 0.0% |
| Distributable reserves | 133 | €42,022 | €42,022 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,679 | €13,972 | -€6,707 | -32.4% |
| Amounts payable | 17/49 | €4,431 | €1,168 | -€3,262 | -73.6% |
| Amounts payable within one year | 42/48 | €4,431 | €1,168 | -€3,262 | -73.6% |
| Trade debts | 44 | €1,121 | €1,103 | -€18 | -1.6% |
| Suppliers | 440/4 | €1,121 | €1,103 | -€18 | -1.6% |
| Taxes, remuneration and social security | 45 | €2,400 | €65 | -€2,334 | -97.3% |
| Taxes | 450/3 | €2,400 | €65 | -€2,334 | -97.3% |
| Other amounts payable | 47/48 | €910 | - | -€910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,609 | €6,609 | = | 0.0% |
| Other operating charges | 640/8 | €543 | €517 | -€25 | -4.6% |
| Gross operating margin | 9900 | €5,116 | -€462 | -€5,578 | |
| Operating profit (loss) | 9901 | -€2,035 | -€7,589 | -€5,553 | -272.8% |
| Financial income | 75/76B | €1,040 | €1,040 | -€0 | 0.0% |
| Recurring financial income | 75 | €1,040 | €1,040 | -€0 | 0.0% |
| Financial charges | 65/66B | €99 | €93 | -€6 | -6.1% |
| Recurring financial charges | 65 | €99 | €93 | -€6 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,094 | -€6,641 | -€5,547 | -507.1% |
| Income taxes | 67/77 | €387 | €65 | -€322 | -83.1% |
| Profit (loss) for the period | 9904 | -€1,481 | -€6,707 | -€5,225 | -352.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,481 | -€6,707 | -€5,225 | -352.7% |
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 4 October 2026 via checked.be.