ZieCo: 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.
ZieCo
Largest movements
- Cash -€52,451
down €52,451 (-55.9%), from €93,795 to €41,344
mainly Investment in fixed assets (net) (-€40,289) and Stocks and contracts (-€30,963)
- Stocks and contracts +€30,963
up €30,963 (+19.4%), from €159,306 to €190,269
- Tangible fixed assets +€26,137
up €26,137 (+71.1%), from €36,760 to €62,897
of which Other tangible fixed assets: +€21,596
- Current investments +€12,000
up €12,000 (+17.4%), from €69,000 to €81,000
- Trade debts +€68,671
up €68,671 (+134%), from €51,106 to €119,777
- Profit (loss) carried forward -€21,551
down €21,551 (-19.9%), from €108,412 to €86,861
- Other debts -€18,705
down €18,705 (-74.8%), from €25,022 to €6,317
- Tax, wage and social debts -€9,106
down €9,106 (-30.8%), from €29,585 to €20,478
of which Remuneration and social security: -€15,991
- Gross operating margin -€71,797
down €71,797 (-28.8%), from €249,651 to €177,855
- Staff costs -€21,089
down €21,089 (-11.1%), from €190,636 to €169,548
- Depreciation +€10,047
up €10,047 (+245%), from €4,106 to €14,153
- Taxes -€8,765
down €8,765 (-59.7%), from €14,692 to €5,928
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 | €381,089 | €400,397 | +€19,308 | +5.1% |
| Fixed assets | 21/28 | €49,260 | €75,397 | +€26,137 | +53.1% |
| Tangible fixed assets | 22/27 | €36,760 | €62,897 | +€26,137 | +71.1% |
| Plant, machinery and equipment | 23 | €1,050 | €12,823 | +€11,773 | +1,122% |
| Furniture and vehicles | 24 | €33,751 | €26,519 | -€7,232 | -21.4% |
| Other tangible fixed assets | 26 | €1,959 | €23,556 | +€21,596 | +1,102% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €331,829 | €325,000 | -€6,829 | -2.1% |
| Stocks and contracts in progress | 3 | €159,306 | €190,269 | +€30,963 | +19.4% |
| Stocks | 30/36 | €159,306 | €190,269 | +€30,963 | +19.4% |
| Amounts receivable within one year | 40/41 | €9,728 | €12,387 | +€2,659 | +27.3% |
| Trade receivables | 40 | €9,728 | €10,406 | +€678 | +7.0% |
| Other amounts receivable | 41 | - | €1,981 | +€1,981 | |
| Current investments | 50/53 | €69,000 | €81,000 | +€12,000 | +17.4% |
| Cash at bank and in hand | 54/58 | €93,795 | €41,344 | -€52,451 | -55.9% |
| Total equity and liabilities | 10/49 | €381,089 | €400,397 | +€19,308 | +5.1% |
| Equity | 10/15 | €275,376 | €253,826 | -€21,551 | -7.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €160,764 | €160,764 | = | 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 | €158,904 | €158,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,412 | €86,861 | -€21,551 | -19.9% |
| Amounts payable | 17/49 | €105,713 | €146,572 | +€40,859 | +38.7% |
| Amounts payable within one year | 42/48 | €105,713 | €146,572 | +€40,859 | +38.7% |
| Trade debts | 44 | €51,106 | €119,777 | +€68,671 | +134% |
| Suppliers | 440/4 | €51,106 | €119,777 | +€68,671 | +134% |
| Taxes, remuneration and social security | 45 | €29,585 | €20,478 | -€9,106 | -30.8% |
| Taxes | 450/3 | €410 | €7,295 | +€6,885 | +1,679% |
| Remuneration and social security | 454/9 | €29,175 | €13,184 | -€15,991 | -54.8% |
| Other amounts payable | 47/48 | €25,022 | €6,317 | -€18,705 | -74.8% |
| Remuneration, social security and pensions | 62 | €190,636 | €169,548 | -€21,089 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,106 | €14,153 | +€10,047 | +245% |
| Other operating charges | 640/8 | €9,553 | €9,766 | +€214 | +2.2% |
| Gross operating margin | 9900 | €249,651 | €177,855 | -€71,797 | -28.8% |
| Operating profit (loss) | 9901 | €45,357 | -€15,612 | -€60,968 | |
| Financial income | 75/76B | €1,398 | €1,693 | +€295 | +21.1% |
| Recurring financial income | 75 | €1,398 | €1,693 | +€295 | +21.1% |
| Financial charges | 65/66B | €2,745 | €1,705 | -€1,041 | -37.9% |
| Recurring financial charges | 65 | €2,745 | €1,705 | -€1,041 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €44,009 | -€15,623 | -€59,632 | |
| Income taxes | 67/77 | €14,692 | €5,928 | -€8,765 | -59.7% |
| Profit (loss) for the period | 9904 | €29,317 | -€21,551 | -€50,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,317 | -€21,551 | -€50,868 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.