ZILVERSTEEG: 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.
ZILVERSTEEG
Largest movements
- Cash -€113,083
down €113,083 (-13.5%), from €837,404 to €724,321
mainly Provisions (-€101,229) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€23,601
up €23,601 (+9.2%), from €257,234 to €280,835
of which Other amounts receivable: +€29,178
- Provisions -€101,229
down €101,229 (-100.0%), from €101,229 to €0
- Reserves -€48,948
down €48,948 (-14.0%), from €349,073 to €300,125
of which Tax-exempt reserves: -€303,687
- Other debts +€48,682
up €48,682 (+94.9%), from €51,318 to €100,000
- Taxes +€109,584
up €109,584 (+1348.6%), from €8,125 to €117,709
- Gross operating margin -€16,037
down €16,037 (-15.0%), from €107,035 to €90,997
- Financial income -€4,765
down €4,765 (-24.9%), from €19,112 to €14,347
of which Financial income: -€4,765
- Financial charges -€2,001
down €2,001 (-94.4%), from €2,120 to €119
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 | €1,715,538 | €1,617,301 | -€98,237 | -5.7% |
| Fixed assets | 21/28 | €619,952 | €608,613 | -€11,339 | -1.8% |
| Tangible fixed assets | 22/27 | €618,662 | €607,323 | -€11,339 | -1.8% |
| Land and buildings | 22 | €618,244 | €607,323 | -€10,921 | -1.8% |
| Plant, machinery and equipment | 23 | €418 | €0 | -€418 | -100.0% |
| Financial fixed assets | 28 | €1,290 | €1,290 | = | 0.0% |
| Current assets | 29/58 | €1,095,586 | €1,008,688 | -€86,898 | -7.9% |
| Amounts receivable within one year | 40/41 | €257,234 | €280,835 | +€23,601 | +9.2% |
| Trade receivables | 40 | €7,340 | €1,763 | -€5,577 | -76.0% |
| Other amounts receivable | 41 | €249,894 | €279,072 | +€29,178 | +11.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €837,404 | €724,321 | -€113,083 | -13.5% |
| Deferred charges and accrued income | 490/1 | €948 | €3,532 | +€2,584 | +272.6% |
| Total equity and liabilities | 10/49 | €1,715,538 | €1,617,301 | -€98,237 | -5.7% |
| Equity | 10/15 | €1,549,073 | €1,500,125 | -€48,948 | -3.2% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €349,073 | €300,125 | -€48,948 | -14.0% |
| Non-distributable reserves | 130/1 | €18,910 | €31,910 | +€13,000 | +68.7% |
| Legal reserve | 130 | €18,910 | €31,910 | +€13,000 | +68.7% |
| Tax-exempt reserves | 132 | €303,687 | €0 | -€303,687 | -100.0% |
| Distributable reserves | 133 | €26,476 | €268,215 | +€241,739 | +913.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €101,229 | €0 | -€101,229 | -100.0% |
| Deferred taxes | 168 | €101,229 | €0 | -€101,229 | -100.0% |
| Amounts payable | 17/49 | €65,236 | €117,176 | +€51,940 | +79.6% |
| Amounts payable within one year | 42/48 | €60,008 | €111,782 | +€51,774 | +86.3% |
| Trade debts | 44 | €4,327 | €11,574 | +€7,247 | +167.5% |
| Suppliers | 440/4 | €4,327 | €11,574 | +€7,247 | +167.5% |
| Taxes, remuneration and social security | 45 | €4,364 | €209 | -€4,155 | -95.2% |
| Taxes | 450/3 | €4,364 | €209 | -€4,155 | -95.2% |
| Other amounts payable | 47/48 | €51,318 | €100,000 | +€48,682 | +94.9% |
| Accrued charges and deferred income | 492/3 | €5,228 | €5,394 | +€166 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,991 | €16,937 | -€54 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €20,875 | €20,757 | -€118 | -0.6% |
| Gross operating margin | 9900 | €107,035 | €90,997 | -€16,037 | -15.0% |
| Operating profit (loss) | 9901 | €69,169 | €53,304 | -€15,865 | -22.9% |
| Financial income | 75/76B | €19,112 | €14,347 | -€4,765 | -24.9% |
| Recurring financial income | 75 | €19,112 | €14,347 | -€4,765 | -24.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,120 | €119 | -€2,001 | -94.4% |
| Recurring financial charges | 65 | €2,120 | €119 | -€2,001 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €86,160 | €67,532 | -€18,628 | -21.6% |
| Transfer from deferred taxes | 780 | - | €101,229 | +€101,229 | |
| Income taxes | 67/77 | €8,125 | €117,709 | +€109,584 | +1348.6% |
| Profit (loss) for the period | 9904 | €78,035 | €51,052 | -€26,983 | -34.6% |
| Transfer from tax-exempt reserves | 789 | - | €303,687 | +€303,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,035 | €354,739 | +€276,704 | +354.6% |
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 11 October 2026 via checked.be.