ZIEDEWEL: what changed
ZIEDEWEL
Largest movements
- Cash +€22,924
up €22,924 (+71.6%), from €32,037 to €54,961
mainly Net result for the year (+€14,596) and Depreciation (+€4,794)
- Tangible fixed assets -€4,794
down €4,794 (-83.9%), from €5,715 to €922
of which Furniture and vehicles: -€2,860
- Receivables within one year -€3,276
down €3,276 (-21.1%), from €15,505 to €12,228
of which Trade receivables: -€2,737
- Reserves +€14,596
up €14,596 (+78.4%), from €18,627 to €33,223
- Tax, wage and social debts +€999
up €999 (+34.0%), from €2,934 to €3,933
- Accrued charges and deferred income -€760
down €760 (-100%), from €760 to €0
- Gross operating margin -€6,420
down €6,420 (-19.9%), from €32,280 to €25,860
- Depreciation -€3,140
down €3,140 (-39.6%), from €7,933 to €4,794
- Taxes -€866
down €866 (-15.6%), from €5,556 to €4,690
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 | €53,564 | €68,238 | +€14,674 | +27.4% |
| Fixed assets | 21/28 | €5,715 | €922 | -€4,794 | -83.9% |
| Tangible fixed assets | 22/27 | €5,715 | €922 | -€4,794 | -83.9% |
| Plant, machinery and equipment | 23 | €2,855 | €922 | -€1,933 | -67.7% |
| Furniture and vehicles | 24 | €2,860 | €0 | -€2,860 | -100% |
| Current assets | 29/58 | €47,849 | €67,316 | +€19,467 | +40.7% |
| Amounts receivable within one year | 40/41 | €15,505 | €12,228 | -€3,276 | -21.1% |
| Trade receivables | 40 | €13,613 | €10,876 | -€2,737 | -20.1% |
| Other amounts receivable | 41 | €1,892 | €1,353 | -€539 | -28.5% |
| Cash at bank and in hand | 54/58 | €32,037 | €54,961 | +€22,924 | +71.6% |
| Deferred charges and accrued income | 490/1 | €307 | €126 | -€181 | -58.8% |
| Total equity and liabilities | 10/49 | €53,564 | €68,238 | +€14,674 | +27.4% |
| Equity | 10/15 | €27,127 | €41,723 | +€14,596 | +53.8% |
| Contributions | 10/11 | €8,500 | €8,500 | = | 0.0% |
| Reserves | 13 | €18,627 | €33,223 | +€14,596 | +78.4% |
| Distributable reserves | 133 | €18,627 | €33,223 | +€14,596 | +78.4% |
| Amounts payable | 17/49 | €26,438 | €26,515 | +€77 | +0.3% |
| Amounts payable within one year | 42/48 | €25,678 | €26,515 | +€837 | +3.3% |
| Financial debts | 43 | €243 | €92 | -€151 | -62.0% |
| Credit institutions | 430/8 | €243 | €92 | -€151 | -62.0% |
| Trade debts | 44 | €281 | €19 | -€262 | -93.2% |
| Suppliers | 440/4 | €281 | €19 | -€262 | -93.2% |
| Taxes, remuneration and social security | 45 | €2,934 | €3,933 | +€999 | +34.0% |
| Taxes | 450/3 | €2,934 | €3,933 | +€999 | +34.0% |
| Other amounts payable | 47/48 | €22,220 | €22,471 | +€251 | +1.1% |
| Accrued charges and deferred income | 492/3 | €760 | €0 | -€760 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,933 | €4,794 | -€3,140 | -39.6% |
| Other operating charges | 640/8 | €285 | €295 | +€10 | +3.4% |
| Gross operating margin | 9900 | €32,280 | €25,860 | -€6,420 | -19.9% |
| Operating profit (loss) | 9901 | €24,061 | €20,772 | -€3,290 | -13.7% |
| Financial income | 75/76B | €0 | €129 | +€129 | +1,293,100% |
| Recurring financial income | 75 | €0 | €129 | +€129 | +1,293,100% |
| Financial charges | 65/66B | €1,717 | €1,614 | -€103 | -6.0% |
| Recurring financial charges | 65 | €1,717 | €1,614 | -€103 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €22,344 | €19,287 | -€3,057 | -13.7% |
| Income taxes | 67/77 | €5,556 | €4,690 | -€866 | -15.6% |
| Profit (loss) for the period | 9904 | €16,788 | €14,596 | -€2,192 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,788 | €14,596 | -€2,192 | -13.1% |
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.