ZiggZagg: 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.
ZiggZagg
Largest movements
- Receivables within one year +€508,115
up €508,115 (+156%), from €326,211 to €834,325
of which Trade receivables: +€457,649
- Cash +€305,834
up €305,834 (+462%), from €66,223 to €372,058
mainly Contributions, distributions and other (+€1.0m) and Depreciation (+€606,784)
- Tangible fixed assets -€190,368
down €190,368 (-8.2%), from €2.3m to €2.1m
of which Leasing and similar rights: -€435,294
- Intangible fixed assets -€37,550
down €37,550 (-48.9%), from €76,751 to €39,200
- Profit (loss) carried forward +€2.5m
up €2.5m, from -€2.5m to €0
- Contributions -€1.5m
down €1.5m (-48.3%), from €3.2m to €1.7m
- Debts after one year -€950,074
down €950,074 (-70.9%), from €1.3m to €389,188
- Trade debts +€352,792
up €352,792 (+120%), from €293,109 to €645,901
- Reserves +€260,722
new in 2025: €260,722
- Gross operating margin +€796,422
up €796,422 (+88.9%), from €895,488 to €1.7m
- Staff costs -€102,875
down €102,875 (-12.7%), from €809,179 to €706,304
- Write-downs -€43,164
down €43,164 (-100%), from €43,164 to €0
- Financial charges -€21,191
down €21,191 (-20.5%), from €103,576 to €82,385
- Other operating charges +€17,139
up €17,139 (+98.1%), from €17,468 to €34,607
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 | €3,045,257 | €3,643,435 | +€598,178 | +19.6% |
| Fixed assets | 21/28 | €2,393,265 | €2,165,346 | -€227,918 | -9.5% |
| Intangible fixed assets | 21 | €76,751 | €39,200 | -€37,550 | -48.9% |
| Tangible fixed assets | 22/27 | €2,316,514 | €2,126,146 | -€190,368 | -8.2% |
| Land and buildings | 22 | €83,769 | €68,313 | -€15,456 | -18.5% |
| Plant, machinery and equipment | 23 | €350,183 | €624,206 | +€274,023 | +78.3% |
| Furniture and vehicles | 24 | €94,931 | €81,290 | -€13,641 | -14.4% |
| Leasing and similar rights | 25 | €1,787,631 | €1,352,337 | -€435,294 | -24.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €651,993 | €1,478,089 | +€826,096 | +127% |
| Stocks and contracts in progress | 3 | €204,518 | €218,541 | +€14,023 | +6.9% |
| Stocks | 30/36 | €204,518 | €218,541 | +€14,023 | +6.9% |
| Amounts receivable within one year | 40/41 | €326,211 | €834,325 | +€508,115 | +156% |
| Trade receivables | 40 | €320,793 | €778,442 | +€457,649 | +143% |
| Other amounts receivable | 41 | €5,418 | €55,883 | +€50,465 | +931% |
| Cash at bank and in hand | 54/58 | €66,223 | €372,058 | +€305,834 | +462% |
| Deferred charges and accrued income | 490/1 | €55,040 | €53,164 | -€1,876 | -3.4% |
| Total equity and liabilities | 10/49 | €3,045,257 | €3,643,435 | +€598,178 | +19.6% |
| Equity | 10/15 | €756,809 | €2,017,532 | +€1.3m | +167% |
| Contributions | 10/11 | €3,204,070 | €1,656,809 | -€1.5m | -48.3% |
| Capital | 10 | €3,204,070 | €1,656,809 | -€1.5m | -48.3% |
| Issued capital | 100 | €3,204,070 | €1,656,809 | -€1.5m | -48.3% |
| Reserves | 13 | - | €260,722 | +€260,722 | |
| Distributable reserves | 133 | - | €260,722 | +€260,722 | |
| Profit (loss) carried forward | 14 | -€2,547,260 | €0 | +€2.5m | |
| Investment grants | 15 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,288,448 | €1,625,903 | -€662,544 | -29.0% |
| Amounts payable after more than one year | 17 | €1,339,262 | €389,188 | -€950,074 | -70.9% |
| Financial debts | 170/4 | €1,339,262 | €389,188 | -€950,074 | -70.9% |
| Amounts payable within one year | 42/48 | €939,889 | €1,178,916 | +€239,027 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €329,003 | €244,278 | -€84,725 | -25.8% |
| Financial debts | 43 | €227,610 | €230,387 | +€2,778 | +1.2% |
| Credit institutions | 430/8 | €227,610 | €230,387 | +€2,778 | +1.2% |
| Trade debts | 44 | €293,109 | €645,901 | +€352,792 | +120% |
| Suppliers | 440/4 | €293,109 | €645,901 | +€352,792 | +120% |
| Taxes, remuneration and social security | 45 | €90,168 | €58,350 | -€31,818 | -35.3% |
| Taxes | 450/3 | €1,580 | €2,731 | +€1,151 | +72.9% |
| Remuneration and social security | 454/9 | €88,588 | €55,619 | -€32,969 | -37.2% |
| Accrued charges and deferred income | 492/3 | €9,296 | €57,800 | +€48,503 | +522% |
| Remuneration, social security and pensions | 62 | €809,179 | €706,304 | -€102,875 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €600,626 | €606,784 | +€6,158 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €43,164 | €0 | -€43,164 | -100% |
| Other operating charges | 640/8 | €17,468 | €34,607 | +€17,139 | +98.1% |
| Gross operating margin | 9900 | €895,488 | €1,691,911 | +€796,422 | +88.9% |
| Operating profit (loss) | 9901 | -€574,948 | €344,216 | +€919,164 | |
| Financial income | 75/76B | €164 | €43 | -€122 | -74.1% |
| Recurring financial income | 75 | €164 | €43 | -€122 | -74.1% |
| Financial charges | 65/66B | €103,576 | €82,385 | -€21,191 | -20.5% |
| Recurring financial charges | 65 | €103,576 | €82,385 | -€21,191 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | -€678,360 | €261,874 | +€940,234 | |
| Income taxes | 67/77 | €1,580 | €1,151 | -€429 | -27.1% |
| Profit (loss) for the period | 9904 | -€679,940 | €260,722 | +€940,662 | |
| Profit (loss) for the period to be appropriated | 9905 | -€679,940 | €260,722 | +€940,662 |
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 24 October 2026 via checked.be.