ZELISE: 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.
ZELISE
Largest movements
- Receivables within one year +€13,190
up €13,190 (+55.2%), from €23,892 to €37,082
of which Trade receivables: +€8,901
- Stocks and contracts +€8,491
up €8,491 (+133.9%), from €6,342 to €14,833
- Cash +€2,143
new in 2025: €2,143
mainly Trade debts (+€24,782) and Tax, wage and social debts (+€4,166)
- Trade debts +€24,782
new in 2025: €24,782
- Tax, wage and social debts +€4,166
new in 2025: €4,166
of which Taxes: +€4,073
- Short-term financial debts -€2,723
no longer reported in 2025 (was €2,723)
- Profit (loss) carried forward -€2,401
down €2,401 (-11.3%), from €21,311 to €18,910
- Gross operating margin -€22,870
down €22,870 (-43.1%), from €53,049 to €30,179
- Staff costs -€6,031
down €6,031 (-15.9%), from €38,006 to €31,975
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 | €30,234 | €54,058 | +€23,824 | +78.8% |
| Current assets | 29/58 | €30,234 | €54,058 | +€23,824 | +78.8% |
| Stocks and contracts in progress | 3 | €6,342 | €14,833 | +€8,491 | +133.9% |
| Stocks | 30/36 | €6,342 | €14,833 | +€8,491 | +133.9% |
| Amounts receivable within one year | 40/41 | €23,892 | €37,082 | +€13,190 | +55.2% |
| Trade receivables | 40 | - | €8,901 | +€8,901 | |
| Other amounts receivable | 41 | €23,892 | €28,181 | +€4,289 | +18.0% |
| Cash at bank and in hand | 54/58 | - | €2,143 | +€2,143 | |
| Total equity and liabilities | 10/49 | €30,234 | €54,058 | +€23,824 | +78.8% |
| Equity | 10/15 | €27,511 | €25,110 | -€2,401 | -8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,311 | €18,910 | -€2,401 | -11.3% |
| Amounts payable | 17/49 | €2,723 | €28,948 | +€26,225 | +963.1% |
| Amounts payable within one year | 42/48 | €2,723 | €28,948 | +€26,225 | +963.1% |
| Financial debts | 43 | €2,723 | - | -€2,723 | |
| Credit institutions | 430/8 | €2,723 | - | -€2,723 | |
| Trade debts | 44 | - | €24,782 | +€24,782 | |
| Suppliers | 440/4 | - | €24,782 | +€24,782 | |
| Taxes, remuneration and social security | 45 | - | €4,166 | +€4,166 | |
| Taxes | 450/3 | - | €4,073 | +€4,073 | |
| Remuneration and social security | 454/9 | - | €93 | +€93 | |
| Remuneration, social security and pensions | 62 | €38,006 | €31,975 | -€6,031 | -15.9% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €53,049 | €30,179 | -€22,870 | -43.1% |
| Operating profit (loss) | 9901 | €14,656 | -€2,196 | -€16,852 | |
| Financial charges | 65/66B | €15 | €205 | +€190 | +1266.7% |
| Recurring financial charges | 65 | €15 | €205 | +€190 | +1266.7% |
| Profit (loss) for the period before taxes | 9903 | €14,641 | -€2,401 | -€17,042 | |
| Profit (loss) for the period | 9904 | €14,641 | -€2,401 | -€17,042 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,641 | -€2,401 | -€17,042 |
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 9 October 2026 via checked.be.