ZEPPELIN INVEST: 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.
ZEPPELIN INVEST
Largest movements
- Receivables within one year -€287,610
down €287,610 (-80.6%), from €356,924 to €69,314
of which Other amounts receivable: -€286,000
- Cash -€199,722
down €199,722 (-71.3%), from €280,220 to €80,499
mainly Short-term financial debts (-€675,000) and Net result for the year (-€1,434)
- Stocks and contracts -€189,000
no longer reported in 2025 (was €189,000)
- Short-term financial debts -€675,000
down €675,000 (-90.0%), from €750,000 to €75,000
- Gross operating margin +€3,056
up €3,056 (+70.8%), from -€4,316 to -€1,260
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 | €844,594 | €168,263 | -€676,332 | -80.1% |
| Fixed assets | 21/28 | €18,450 | €18,450 | = | 0.0% |
| Financial fixed assets | 28 | €18,450 | €18,450 | = | 0.0% |
| Current assets | 29/58 | €826,144 | €149,813 | -€676,332 | -81.9% |
| Stocks and contracts in progress | 3 | €189,000 | - | -€189,000 | |
| Stocks | 30/36 | €189,000 | - | -€189,000 | |
| Amounts receivable within one year | 40/41 | €356,924 | €69,314 | -€287,610 | -80.6% |
| Trade receivables | 40 | €12,110 | €10,500 | -€1,610 | -13.3% |
| Other amounts receivable | 41 | €344,814 | €58,814 | -€286,000 | -82.9% |
| Cash at bank and in hand | 54/58 | €280,220 | €80,499 | -€199,722 | -71.3% |
| Total equity and liabilities | 10/49 | €844,594 | €168,263 | -€676,332 | -80.1% |
| Equity | 10/15 | €94,594 | €93,160 | -€1,434 | -1.5% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €2,600 | €2,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,600 | €2,600 | = | 0.0% |
| Legal reserve | 130 | €2,600 | €2,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,006 | -€29,440 | -€1,434 | -5.1% |
| Amounts payable | 17/49 | €750,000 | €75,102 | -€674,898 | -90.0% |
| Amounts payable within one year | 42/48 | €750,000 | €75,102 | -€674,898 | -90.0% |
| Financial debts | 43 | €750,000 | €75,000 | -€675,000 | -90.0% |
| Other loans | 439 | €750,000 | €75,000 | -€675,000 | -90.0% |
| Trade debts | 44 | - | €102 | +€102 | |
| Suppliers | 440/4 | - | €102 | +€102 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€4,316 | -€1,260 | +€3,056 | +70.8% |
| Operating profit (loss) | 9901 | -€4,434 | -€1,380 | +€3,054 | +68.9% |
| Financial charges | 65/66B | €53 | €54 | +€2 | +2.9% |
| Recurring financial charges | 65 | €53 | €54 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,486 | -€1,434 | +€3,052 | +68.0% |
| Profit (loss) for the period | 9904 | -€4,486 | -€1,434 | +€3,052 | +68.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,486 | -€1,434 | +€3,052 | +68.0% |
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.