ZILVER: 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.
ZILVER
Largest movements
- Tangible fixed assets -€28,033
down €28,033 (-3.9%), from €717,738 to €689,705
of which Land and buildings: -€20,924
- Cash +€16,818
up €16,818 (+59.0%), from €28,505 to €45,323
mainly Depreciation (+€42,545) and Net result for the year (+€29,916)
- Debts after one year -€41,324
down €41,324 (-7.5%), from €553,711 to €512,387
- Reserves +€15,000
new in 2025: €15,000
- Profit (loss) carried forward +€14,916
up €14,916, from -€13,127 to €1,789
- Gross operating margin +€27,139
up €27,139 (+23.1%), from €117,665 to €144,804
- Other operating charges +€1,950
up €1,950 (+51.2%), from €3,806 to €5,756
- Depreciation +€1,596
up €1,596 (+3.9%), from €40,949 to €42,545
- Taxes +€1,532
new in 2025: €1,532
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 | €751,046 | €737,958 | -€13,088 | -1.7% |
| Formation expenses | 20 | €1,354 | €509 | -€845 | -62.4% |
| Fixed assets | 21/28 | €717,798 | €689,765 | -€28,033 | -3.9% |
| Tangible fixed assets | 22/27 | €717,738 | €689,705 | -€28,033 | -3.9% |
| Land and buildings | 22 | €685,167 | €664,243 | -€20,924 | -3.1% |
| Furniture and vehicles | 24 | €32,571 | €25,462 | -€7,109 | -21.8% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €31,894 | €47,684 | +€15,790 | +49.5% |
| Amounts receivable within one year | 40/41 | €2,689 | €1,624 | -€1,065 | -39.6% |
| Trade receivables | 40 | €2,689 | €1,433 | -€1,256 | -46.7% |
| Other amounts receivable | 41 | - | €191 | +€191 | |
| Cash at bank and in hand | 54/58 | €28,505 | €45,323 | +€16,818 | +59.0% |
| Deferred charges and accrued income | 490/1 | €701 | €738 | +€37 | +5.2% |
| Total equity and liabilities | 10/49 | €751,046 | €737,958 | -€13,088 | -1.7% |
| Equity | 10/15 | €36,873 | €66,789 | +€29,916 | +81.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €15,000 | +€15,000 | |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | -€13,127 | €1,789 | +€14,916 | |
| Amounts payable | 17/49 | €714,173 | €671,169 | -€43,004 | -6.0% |
| Amounts payable after more than one year | 17 | €553,711 | €512,387 | -€41,324 | -7.5% |
| Financial debts | 170/4 | €553,711 | €512,387 | -€41,324 | -7.5% |
| Amounts payable within one year | 42/48 | €158,081 | €153,243 | -€4,838 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €40,541 | €41,277 | +€736 | +1.8% |
| Trade debts | 44 | €5,977 | €2,629 | -€3,348 | -56.0% |
| Suppliers | 440/4 | €5,977 | €2,629 | -€3,348 | -56.0% |
| Taxes, remuneration and social security | 45 | €16,809 | €14,564 | -€2,244 | -13.4% |
| Taxes | 450/3 | €4,896 | €1,579 | -€3,317 | -67.8% |
| Remuneration and social security | 454/9 | €11,912 | €12,985 | +€1,073 | +9.0% |
| Other amounts payable | 47/48 | €94,754 | €94,772 | +€18 | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,381 | €5,539 | +€3,157 | +132.6% |
| Non-recurring operating income | 76A | - | €3,987 | +€3,987 | |
| Remuneration, social security and pensions | 62 | €58,635 | €59,432 | +€797 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,949 | €42,545 | +€1,596 | +3.9% |
| Other operating charges | 640/8 | €3,806 | €5,756 | +€1,950 | +51.2% |
| Non-recurring operating charges | 66A | €2,145 | - | -€2,145 | |
| Gross operating margin | 9900 | €117,665 | €144,804 | +€27,139 | +23.1% |
| Operating profit (loss) | 9901 | €12,130 | €37,071 | +€24,941 | +205.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,995 | €5,623 | -€372 | -6.2% |
| Recurring financial charges | 65 | €5,995 | €5,623 | -€372 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €6,134 | €31,449 | +€25,314 | +412.7% |
| Income taxes | 67/77 | - | €1,532 | +€1,532 | |
| Profit (loss) for the period | 9904 | €6,134 | €29,916 | +€23,782 | +387.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,134 | €29,916 | +€23,782 | +387.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.