ZICON: 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.
ZICON
Largest movements
- Financial fixed assets -€64,000
down €64,000 (-67.8%), from €94,440 to €30,440
- Receivables within one year +€19,550
up €19,550 (+35.0%), from €55,862 to €75,412
of which Trade receivables: +€47,582
- Cash +€2,584
up €2,584 (+25.4%), from €10,163 to €12,747
mainly Investment in fixed assets (net) (+€64,000) and Net result for the year (+€7,734)
- Current portion of long-term debt -€42,000
no longer reported in 2025 (was €42,000)
- Gross operating margin -€6,401
down €6,401 (-28.0%), from €22,850 to €16,449
- Taxes -€2,023
down €2,023 (-28.2%), from €7,185 to €5,162
- Financial charges +€640
up €640 (+58.0%), from €1,102 to €1,742
- Financial income +€495
new in 2025: €495
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 | €161,621 | €119,257 | -€42,364 | -26.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €95,110 | €30,687 | -€64,423 | -67.7% |
| Tangible fixed assets | 22/27 | €670 | €247 | -€423 | -63.2% |
| Plant, machinery and equipment | 23 | €528 | €247 | -€281 | -53.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €143 | €0 | -€143 | -100.0% |
| Financial fixed assets | 28 | €94,440 | €30,440 | -€64,000 | -67.8% |
| Current assets | 29/58 | €66,511 | €88,570 | +€22,059 | +33.2% |
| Amounts receivable within one year | 40/41 | €55,862 | €75,412 | +€19,550 | +35.0% |
| Trade receivables | 40 | €27,830 | €75,412 | +€47,582 | +171.0% |
| Other amounts receivable | 41 | €28,032 | - | -€28,032 | |
| Cash at bank and in hand | 54/58 | €10,163 | €12,747 | +€2,584 | +25.4% |
| Deferred charges and accrued income | 490/1 | €486 | €411 | -€75 | -15.4% |
| Total equity and liabilities | 10/49 | €161,621 | €119,257 | -€42,364 | -26.2% |
| Equity | 10/15 | €90,884 | €90,280 | -€603 | -0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,684 | €84,080 | -€603 | -0.7% |
| Tax-exempt reserves | 132 | €448 | €448 | = | 0.0% |
| Distributable reserves | 133 | €84,236 | €83,632 | -€603 | -0.7% |
| Amounts payable | 17/49 | €70,738 | €28,977 | -€41,761 | -59.0% |
| Amounts payable within one year | 42/48 | €70,535 | €28,817 | -€41,718 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €42,000 | - | -€42,000 | |
| Trade debts | 44 | €3,875 | €4,314 | +€439 | +11.3% |
| Suppliers | 440/4 | €3,875 | €4,314 | +€439 | +11.3% |
| Taxes, remuneration and social security | 45 | €23,047 | €22,343 | -€704 | -3.1% |
| Taxes | 450/3 | €20,599 | €19,888 | -€712 | -3.5% |
| Remuneration and social security | 454/9 | €2,447 | €2,455 | +€7 | +0.3% |
| Other amounts payable | 47/48 | €1,614 | €2,161 | +€547 | +33.9% |
| Accrued charges and deferred income | 492/3 | €202 | €160 | -€42 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423 | €423 | = | 0.0% |
| Other operating charges | 640/8 | €1,766 | €1,884 | +€118 | +6.7% |
| Gross operating margin | 9900 | €22,850 | €16,449 | -€6,401 | -28.0% |
| Operating profit (loss) | 9901 | €20,661 | €14,142 | -€6,519 | -31.6% |
| Financial income | 75/76B | - | €495 | +€495 | |
| Recurring financial income | 75 | - | €495 | +€495 | |
| Financial charges | 65/66B | €1,102 | €1,742 | +€640 | +58.0% |
| Recurring financial charges | 65 | €1,102 | €1,742 | +€640 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €19,559 | €12,896 | -€6,663 | -34.1% |
| Income taxes | 67/77 | €7,185 | €5,162 | -€2,023 | -28.2% |
| Profit (loss) for the period | 9904 | €12,374 | €7,734 | -€4,640 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,374 | €7,734 | -€4,640 | -37.5% |
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.