ZELLY: 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.
ZELLY
Largest movements
- Tangible fixed assets -€11,025
down €11,025 (-50.4%), from €21,879 to €10,855
of which Furniture and vehicles: -€11,025
- Cash +€4,587
up €4,587 (+8.3%), from €55,407 to €59,994
mainly Net result for the year (+€52,471) and Depreciation (+€11,025)
- Receivables within one year -€3,922
down €3,922 (-16.3%), from €24,046 to €20,124
of which Trade receivables: -€4,831
- Profit (loss) carried forward +€45,837
no longer reported in 2025 (was -€45,837)
- Reserves -€32,095
down €32,095 (-59.1%), from €54,348 to €22,253
of which Distributable reserves: -€32,095
- Trade debts -€12,304
down €12,304 (-100%), from €12,304 to €0
- Tax, wage and social debts -€10,724
down €10,724 (-32.2%), from €33,310 to €22,586
of which Remuneration and social security: -€11,138
- Debts after one year -€9,403
no longer reported in 2025 (was €9,403)
- Gross operating margin +€25,726
up €25,726 (+13.3%), from €193,042 to €218,768
- Staff costs -€10,913
down €10,913 (-6.8%), from €160,958 to €150,045
- Taxes +€2,755
up €2,755 (+763%), from €361 to €3,116
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.
Derived cash bridge
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 | €104,371 | €93,220 | -€11,152 | -10.7% |
| Fixed assets | 21/28 | €21,879 | €10,855 | -€11,025 | -50.4% |
| Tangible fixed assets | 22/27 | €21,879 | €10,855 | -€11,025 | -50.4% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €21,879 | €10,855 | -€11,025 | -50.4% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €82,492 | €82,365 | -€127 | -0.2% |
| Amounts receivable within one year | 40/41 | €24,046 | €20,124 | -€3,922 | -16.3% |
| Trade receivables | 40 | €23,407 | €18,576 | -€4,831 | -20.6% |
| Other amounts receivable | 41 | €639 | €1,548 | +€910 | +142% |
| Cash at bank and in hand | 54/58 | €55,407 | €59,994 | +€4,587 | +8.3% |
| Deferred charges and accrued income | 490/1 | €3,039 | €2,247 | -€792 | -26.1% |
| Total equity and liabilities | 10/49 | €104,371 | €93,220 | -€11,152 | -10.7% |
| Equity | 10/15 | €8,759 | €22,501 | +€13,742 | +157% |
| Contributions | 10/11 | €248 | €248 | = | 0.0% |
| Reserves | 13 | €54,348 | €22,253 | -€32,095 | -59.1% |
| Tax-exempt reserves | 132 | €172 | €172 | = | 0.0% |
| Distributable reserves | 133 | €54,176 | €22,081 | -€32,095 | -59.2% |
| Profit (loss) carried forward | 14 | -€45,837 | - | +€45,837 | |
| Amounts payable | 17/49 | €95,612 | €70,719 | -€24,894 | -26.0% |
| Amounts payable after more than one year | 17 | €9,403 | - | -€9,403 | |
| Financial debts | 170/4 | €9,403 | - | -€9,403 | |
| Amounts payable within one year | 42/48 | €86,209 | €70,719 | -€15,490 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €10,135 | €9,403 | -€732 | -7.2% |
| Trade debts | 44 | €12,304 | €0 | -€12,304 | -100% |
| Suppliers | 440/4 | €12,304 | €0 | -€12,304 | -100% |
| Taxes, remuneration and social security | 45 | €33,310 | €22,586 | -€10,724 | -32.2% |
| Taxes | 450/3 | €7,312 | €7,726 | +€414 | +5.7% |
| Remuneration and social security | 454/9 | €25,998 | €14,859 | -€11,138 | -42.8% |
| Other amounts payable | 47/48 | €30,460 | €38,729 | +€8,270 | +27.1% |
| Remuneration, social security and pensions | 62 | €160,958 | €150,045 | -€10,913 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,624 | €11,025 | +€400 | +3.8% |
| Other operating charges | 640/8 | €1,716 | €1,760 | +€44 | +2.6% |
| Gross operating margin | 9900 | €193,042 | €218,768 | +€25,726 | +13.3% |
| Operating profit (loss) | 9901 | €19,744 | €55,938 | +€36,195 | +183% |
| Financial charges | 65/66B | €483 | €351 | -€132 | -27.3% |
| Recurring financial charges | 65 | €483 | €351 | -€132 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €19,261 | €55,587 | +€36,326 | +189% |
| Income taxes | 67/77 | €361 | €3,116 | +€2,755 | +763% |
| Profit (loss) for the period | 9904 | €18,900 | €52,471 | +€33,572 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €18,900 | €52,471 | +€33,572 | +178% |
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 23 October 2026 via checked.be.