ZIBI: 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.
ZIBI
Largest movements
- Stocks and contracts +€65,520
up €65,520 (+97.9%), from €66,910 to €132,430
of which Stocks: +€39,430
- Receivables within one year -€12,062
down €12,062 (-20.8%), from €58,122 to €46,060
of which Trade receivables: -€10,032
- Tangible fixed assets +€6,067
up €6,067 (+205.4%), from €2,954 to €9,021
of which Plant, machinery and equipment: +€6,067
- Other debts +€68,849
new in 2025: €68,849
- Trade debts -€4,158
down €4,158 (-31.7%), from €13,098 to €8,940
- Tax, wage and social debts -€3,024
down €3,024 (-43.1%), from €7,016 to €3,991
- Profit (loss) carried forward -€2,920
down €2,920 (-7.2%), from €40,572 to €37,652
- Write-downs +€39,290
up €39,290, from -€38,710 to €579
- Gross operating margin +€14,691
up €14,691 (+85.2%), from -€17,236 to -€2,546
- Taxes -€10,859
down €10,859, from €7,835 to -€3,024
- Other operating charges -€2,650
no longer reported in 2025 (was €2,650)
- Financial charges -€1,687
down €1,687 (-80.8%), from €2,089 to €402
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 | €131,146 | €190,378 | +€59,232 | +45.2% |
| Fixed assets | 21/28 | €2,954 | €9,021 | +€6,067 | +205.4% |
| Tangible fixed assets | 22/27 | €2,954 | €9,021 | +€6,067 | +205.4% |
| Plant, machinery and equipment | 23 | €2,954 | €9,021 | +€6,067 | +205.4% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €128,191 | €181,356 | +€53,165 | +41.5% |
| Stocks and contracts in progress | 3 | €66,910 | €132,430 | +€65,520 | +97.9% |
| Stocks | 30/36 | - | €39,430 | +€39,430 | |
| Contracts in progress | 37 | €66,910 | €93,000 | +€26,090 | +39.0% |
| Amounts receivable within one year | 40/41 | €58,122 | €46,060 | -€12,062 | -20.8% |
| Trade receivables | 40 | €52,133 | €42,101 | -€10,032 | -19.2% |
| Other amounts receivable | 41 | €5,989 | €3,959 | -€2,030 | -33.9% |
| Cash at bank and in hand | 54/58 | €3,159 | €2,867 | -€293 | -9.3% |
| Total equity and liabilities | 10/49 | €131,146 | €190,378 | +€59,232 | +45.2% |
| Equity | 10/15 | €111,032 | €108,112 | -€2,920 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,860 | €51,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,572 | €37,652 | -€2,920 | -7.2% |
| Amounts payable | 17/49 | €20,114 | €82,266 | +€62,152 | +309.0% |
| Amounts payable within one year | 42/48 | €20,114 | €82,266 | +€62,152 | +309.0% |
| Trade debts | 44 | €13,098 | €8,940 | -€4,158 | -31.7% |
| Suppliers | 440/4 | €13,098 | €8,940 | -€4,158 | -31.7% |
| Advances received on contracts in progress | 46 | - | €485 | +€485 | |
| Taxes, remuneration and social security | 45 | €7,016 | €3,991 | -€3,024 | -43.1% |
| Taxes | 450/3 | €7,016 | €3,991 | -€3,024 | -43.1% |
| Other amounts payable | 47/48 | - | €68,849 | +€68,849 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,782 | €1,433 | -€349 | -19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€38,710 | €579 | +€39,290 | |
| Other operating charges | 640/8 | €2,650 | - | -€2,650 | |
| Non-recurring operating charges | 66A | €1,392 | €984 | -€408 | -29.3% |
| Gross operating margin | 9900 | -€17,236 | -€2,546 | +€14,691 | +85.2% |
| Operating profit (loss) | 9901 | €15,651 | -€5,542 | -€21,193 | |
| Financial income | 75/76B | €320 | - | -€320 | |
| Recurring financial income | 75 | €320 | - | -€320 | |
| Financial charges | 65/66B | €2,089 | €402 | -€1,687 | -80.8% |
| Recurring financial charges | 65 | €2,089 | €402 | -€1,687 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €13,881 | -€5,944 | -€19,826 | |
| Income taxes | 67/77 | €7,835 | -€3,024 | -€10,859 | |
| Profit (loss) for the period | 9904 | €6,047 | -€2,920 | -€8,967 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,047 | -€2,920 | -€8,967 |
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 10 October 2026 via checked.be.