ZICO: what changed
ZICO
Largest movements
- Receivables within one year +€2,860
up €2,860 (+5,222%), from €55 to €2,915
of which Trade receivables: +€2,844
- Cash +€1,149
up €1,149, from €0 to €1,149
mainly Other debts (+€16,174) and Trade debts (+€2,800)
- Other debts +€16,174
up €16,174 (+241%), from €6,716 to €22,890
- Debts after one year -€6,213
down €6,213 (-100%), from €6,213 to €0
- Profit (loss) carried forward -€5,056
down €5,056 (-2.4%), from -€210,491 to -€215,546
- Trade debts +€2,800
up €2,800 (+18.2%), from €15,401 to €18,201
- Current portion of long-term debt -€2,055
down €2,055 (-32.9%), from €6,255 to €4,200
- Financial charges -€4,427
down €4,427 (-89.6%), from €4,943 to €516
- Gross operating margin -€1,496
down €1,496 (-60.5%), from -€2,472 to -€3,967
- Financial income -€296
down €296 (-99.8%), from €296 to €1
of which Financial income: -€296
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €835 | €4,844 | +€4,009 | +480% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €835 | €4,844 | +€4,009 | +480% |
| Amounts receivable within one year | 40/41 | €55 | €2,915 | +€2,860 | +5,222% |
| Trade receivables | 40 | €0 | €2,844 | +€2,844 | |
| Other amounts receivable | 41 | €55 | €71 | +€16 | +29.4% |
| Current investments | 50/53 | €780 | €780 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | €1,149 | +€1,149 | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €835 | €4,844 | +€4,009 | +480% |
| Equity | 10/15 | -€35,391 | -€40,446 | -€5,056 | -14.3% |
| Contributions | 10/11 | €175,100 | €175,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€210,491 | -€215,546 | -€5,056 | -2.4% |
| Amounts payable | 17/49 | €36,226 | €45,290 | +€9,065 | +25.0% |
| Amounts payable after more than one year | 17 | €6,213 | €0 | -€6,213 | -100% |
| Financial debts | 170/4 | €6,213 | €0 | -€6,213 | -100% |
| Amounts payable within one year | 42/48 | €30,013 | €45,290 | +€15,277 | +50.9% |
| Current portion of amounts payable after more than one year | 42 | €6,255 | €4,200 | -€2,055 | -32.9% |
| Financial debts | 43 | €1,598 | €0 | -€1,598 | -100% |
| Credit institutions | 430/8 | €1,598 | €0 | -€1,598 | -100% |
| Trade debts | 44 | €15,401 | €18,201 | +€2,800 | +18.2% |
| Suppliers | 440/4 | €15,401 | €18,201 | +€2,800 | +18.2% |
| Taxes, remuneration and social security | 45 | €43 | €0 | -€43 | -100% |
| Taxes | 450/3 | €43 | €0 | -€43 | -100% |
| Other amounts payable | 47/48 | €6,716 | €22,890 | +€16,174 | +241% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €535 | €573 | +€38 | +7.0% |
| Gross operating margin | 9900 | -€2,472 | -€3,967 | -€1,496 | -60.5% |
| Operating profit (loss) | 9901 | -€3,007 | -€4,540 | -€1,533 | -51.0% |
| Financial income | 75/76B | €296 | €1 | -€296 | -99.8% |
| Recurring financial income | 75 | €296 | €1 | -€296 | -99.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,943 | €516 | -€4,427 | -89.6% |
| Recurring financial charges | 65 | €4,943 | €516 | -€4,427 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,654 | -€5,056 | +€2,598 | +33.9% |
| Profit (loss) for the period | 9904 | -€7,654 | -€5,056 | +€2,598 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,654 | -€5,056 | +€2,598 | +33.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.