ZIECON: 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.
ZIECON
Largest movements
- Cash +€59,956
up €59,956 (+41.0%), from €146,204 to €206,161
mainly Net result for the year (+€48,635) and Tax, wage and social debts (+€26,549)
- Receivables within one year -€25,454
down €25,454 (-44.6%), from €57,060 to €31,606
of which Trade receivables: -€19,754
- Tangible fixed assets -€6,839
down €6,839 (-15.2%), from €45,055 to €38,217
of which Furniture and vehicles: -€11,194
- Tax, wage and social debts +€26,549
up €26,549 (+218%), from €12,198 to €38,746
- Reserves +€23,218
up €23,218 (+12.6%), from €184,280 to €207,498
of which Distributable reserves: +€23,218
- Trade debts -€22,035
down €22,035 (-95.2%), from €23,138 to €1,103
- Staff costs -€8,787
down €8,787 (-99.7%), from €8,811 to €24
- Gross operating margin -€4,387
down €4,387 (-4.9%), from €89,719 to €85,332
- Taxes +€2,038
up €2,038 (+10.6%), from €19,250 to €21,287
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 | €257,493 | €285,225 | +€27,732 | +10.8% |
| Fixed assets | 21/28 | €45,055 | €38,217 | -€6,839 | -15.2% |
| Tangible fixed assets | 22/27 | €45,055 | €38,217 | -€6,839 | -15.2% |
| Land and buildings | 22 | - | €4,356 | +€4,356 | |
| Furniture and vehicles | 24 | €45,055 | €33,861 | -€11,194 | -24.8% |
| Current assets | 29/58 | €212,438 | €247,008 | +€34,570 | +16.3% |
| Amounts receivable within one year | 40/41 | €57,060 | €31,606 | -€25,454 | -44.6% |
| Trade receivables | 40 | €41,699 | €21,944 | -€19,754 | -47.4% |
| Other amounts receivable | 41 | €15,362 | €9,662 | -€5,700 | -37.1% |
| Cash at bank and in hand | 54/58 | €146,204 | €206,161 | +€59,956 | +41.0% |
| Deferred charges and accrued income | 490/1 | €9,174 | €9,242 | +€68 | +0.7% |
| Total equity and liabilities | 10/49 | €257,493 | €285,225 | +€27,732 | +10.8% |
| Equity | 10/15 | €222,158 | €245,376 | +€23,218 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €184,280 | €207,498 | +€23,218 | +12.6% |
| 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 | €182,420 | €205,638 | +€23,218 | +12.7% |
| Profit (loss) carried forward | 14 | €19,278 | €19,278 | = | 0.0% |
| Amounts payable | 17/49 | €35,335 | €39,849 | +€4,514 | +12.8% |
| Amounts payable within one year | 42/48 | €35,335 | €39,849 | +€4,514 | +12.8% |
| Trade debts | 44 | €23,138 | €1,103 | -€22,035 | -95.2% |
| Suppliers | 440/4 | €23,138 | €1,103 | -€22,035 | -95.2% |
| Taxes, remuneration and social security | 45 | €12,198 | €38,746 | +€26,549 | +218% |
| Taxes | 450/3 | €12,198 | €38,746 | +€26,549 | +218% |
| Remuneration, social security and pensions | 62 | €8,811 | €24 | -€8,787 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,124 | €15,283 | +€159 | +1.0% |
| Other operating charges | 640/8 | €1,127 | €1,155 | +€28 | +2.5% |
| Gross operating margin | 9900 | €89,719 | €85,332 | -€4,387 | -4.9% |
| Operating profit (loss) | 9901 | €64,656 | €68,871 | +€4,215 | +6.5% |
| Financial income | 75/76B | €1,066 | €1,110 | +€43 | +4.0% |
| Recurring financial income | 75 | €1,066 | €1,110 | +€43 | +4.0% |
| Financial charges | 65/66B | €108 | €58 | -€50 | -46.5% |
| Recurring financial charges | 65 | €108 | €58 | -€50 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | €65,615 | €69,923 | +€4,308 | +6.6% |
| Income taxes | 67/77 | €19,250 | €21,287 | +€2,038 | +10.6% |
| Profit (loss) for the period | 9904 | €46,365 | €48,635 | +€2,270 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,365 | €48,635 | +€2,270 | +4.9% |
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 16 October 2026 via checked.be.