ZESTIG PLUS: 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.
ZESTIG PLUS
Largest movements
- Tangible fixed assets -€172,835
down €172,835 (-11.9%), from €1.5m to €1.3m
of which Assets under construction and advance payments: -€92,726
- Deferred charges and accrued income +€35,832
up €35,832 (+66.7%), from €53,748 to €89,580
- Cash -€34,557
down €34,557 (-56.9%), from €60,757 to €26,200
mainly Net result for the year (-€674,164) and Debts after one year (-€80,319)
- Current investments -€21,325
down €21,325 (-10.0%), from €212,670 to €191,345
- Profit (loss) carried forward -€674,164
down €674,164, from €228,181 to -€445,983
- Revaluation surpluses +€562,480
new in 2025: €562,480
- Debts after one year -€80,319
down €80,319 (-45.3%), from €177,376 to €97,057
- Depreciation -€76,160
down €76,160 (-100.0%), from €76,160 to €0
- Gross operating margin -€35,315
down €35,315 (-34.3%), from €102,908 to €67,593
- Staff costs -€25,375
down €25,375 (-83.1%), from €30,520 to €5,145
- Financial income +€8,544
up €8,544 (+742.4%), from €1,151 to €9,695
- Financial charges -€1,370
down €1,370 (-12.3%), from €11,098 to €9,729
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 | €1,778,141 | €1,586,276 | -€191,865 | -10.8% |
| Fixed assets | 21/28 | €1,450,446 | €1,277,611 | -€172,835 | -11.9% |
| Tangible fixed assets | 22/27 | €1,450,372 | €1,277,537 | -€172,835 | -11.9% |
| Land and buildings | 22 | €834,359 | €754,250 | -€80,109 | -9.6% |
| Assets under construction and advance payments | 27 | €616,013 | €523,287 | -€92,726 | -15.1% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €327,695 | €308,665 | -€19,030 | -5.8% |
| Amounts receivable within one year | 40/41 | €520 | €1,540 | +€1,020 | +196.2% |
| Other amounts receivable | 41 | €520 | €1,540 | +€1,020 | +196.2% |
| Current investments | 50/53 | €212,670 | €191,345 | -€21,325 | -10.0% |
| Cash at bank and in hand | 54/58 | €60,757 | €26,200 | -€34,557 | -56.9% |
| Deferred charges and accrued income | 490/1 | €53,748 | €89,580 | +€35,832 | +66.7% |
| Total equity and liabilities | 10/49 | €1,778,141 | €1,586,276 | -€191,865 | -10.8% |
| Equity | 10/15 | €1,354,143 | €1,242,459 | -€111,684 | -8.2% |
| Contributions | 10/11 | €573,841 | €573,841 | = | 0.0% |
| Capital | 10 | €573,841 | €573,841 | = | 0.0% |
| Issued capital | 100 | €1,948,315 | €1,948,315 | = | 0.0% |
| Uncalled capital | 101 | €1,374,473 | €1,374,473 | = | 0.0% |
| Revaluation surpluses | 12 | - | €562,480 | +€562,480 | |
| Reserves | 13 | €552,121 | €552,121 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,997 | €60,997 | = | 0.0% |
| Distributable reserves | 133 | €471,292 | €471,292 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,181 | -€445,983 | -€674,164 | |
| Provisions and deferred taxes | 16 | €105,000 | €105,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €105,000 | €105,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €15,000 | €15,000 | = | 0.0% |
| Environmental obligations | 163 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable | 17/49 | €318,998 | €238,817 | -€80,180 | -25.1% |
| Amounts payable after more than one year | 17 | €177,376 | €97,057 | -€80,319 | -45.3% |
| Financial debts | 170/4 | €177,376 | €97,057 | -€80,319 | -45.3% |
| Amounts payable within one year | 42/48 | €141,622 | €141,760 | +€139 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €80,319 | €80,319 | = | 0.0% |
| Trade debts | 44 | €7,212 | €6,827 | -€385 | -5.3% |
| Suppliers | 440/4 | €7,212 | €6,827 | -€385 | -5.3% |
| Taxes, remuneration and social security | 45 | €0 | €531 | +€531 | |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | €531 | +€531 | |
| Other amounts payable | 47/48 | €54,091 | €54,084 | -€7 | 0.0% |
| Remuneration, social security and pensions | 62 | €30,520 | €5,145 | -€25,375 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,160 | €0 | -€76,160 | -100.0% |
| Other operating charges | 640/8 | €1,255 | €1,264 | +€10 | +0.8% |
| Non-recurring operating charges | 66A | - | €735,314 | +€735,314 | |
| Gross operating margin | 9900 | €102,908 | €67,593 | -€35,315 | -34.3% |
| Operating profit (loss) | 9901 | -€5,026 | -€674,131 | -€669,105 | -13313.1% |
| Financial income | 75/76B | €1,151 | €9,695 | +€8,544 | +742.4% |
| Recurring financial income | 75 | €1,151 | €9,695 | +€8,544 | +742.4% |
| Financial charges | 65/66B | €11,098 | €9,729 | -€1,370 | -12.3% |
| Recurring financial charges | 65 | €11,098 | €9,729 | -€1,370 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,973 | -€674,164 | -€659,191 | -4402.4% |
| Profit (loss) for the period | 9904 | -€14,973 | -€674,164 | -€659,191 | -4402.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,973 | -€674,164 | -€659,191 | -4402.4% |
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 3 October 2026 via checked.be.