ZIM-K: 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.
ZIM-K
Largest movements
- Tangible fixed assets +€168,311
up €168,311 (+339%), from €49,722 to €218,033
- Cash -€47,929
down €47,929 (-31.0%), from €154,570 to €106,641
mainly Investment in fixed assets (net) (-€168,311) and Net result for the year (-€9,206)
- Debts after one year +€123,826
up €123,826 (+499%), from €24,823 to €148,649
- Profit (loss) carried forward -€9,206
down €9,206 (-723%), from -€1,273 to -€10,479
- Current portion of long-term debt +€5,777
new in 2025: €5,777
- Financial charges +€3,816
up €3,816 (+729%), from €523 to €4,339
- Depreciation +€2,160
new in 2025: €2,160
- Gross operating margin -€1,670
down €1,670 (-792%), from -€211 to -€1,881
- Purchases and services +€1,670
up €1,670 (+792%), from €211 to €1,881
- Other operating charges +€287
up €287 (+53.2%), from €539 to €826
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 | €215,093 | €333,315 | +€118,222 | +55.0% |
| Formation expenses | 20 | €10,801 | €8,641 | -€2,160 | -20.0% |
| Fixed assets | 21/28 | €49,722 | €218,033 | +€168,311 | +339% |
| Tangible fixed assets | 22/27 | €49,722 | €218,033 | +€168,311 | +339% |
| Land and buildings | 22 | €49,722 | €218,033 | +€168,311 | +339% |
| Current assets | 29/58 | €154,570 | €106,641 | -€47,929 | -31.0% |
| Cash at bank and in hand | 54/58 | €154,570 | €106,641 | -€47,929 | -31.0% |
| Total equity and liabilities | 10/49 | €215,093 | €333,315 | +€118,222 | +55.0% |
| Equity | 10/15 | €28,727 | €19,521 | -€9,206 | -32.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,273 | -€10,479 | -€9,206 | -723% |
| Amounts payable | 17/49 | €186,367 | €313,794 | +€127,428 | +68.4% |
| Amounts payable after more than one year | 17 | €24,823 | €148,649 | +€123,826 | +499% |
| Financial debts | 170/4 | €24,823 | €148,649 | +€123,826 | +499% |
| Amounts payable within one year | 42/48 | €161,543 | €165,145 | +€3,602 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,777 | +€5,777 | |
| Trade debts | 44 | €2,650 | €475 | -€2,175 | -82.1% |
| Suppliers | 440/4 | €2,650 | €475 | -€2,175 | -82.1% |
| Other amounts payable | 47/48 | €158,893 | €158,893 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €211 | €1,881 | +€1,670 | +792% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,160 | +€2,160 | |
| Other operating charges | 640/8 | €539 | €826 | +€287 | +53.2% |
| Gross operating margin | 9900 | -€211 | -€1,881 | -€1,670 | -792% |
| Operating profit (loss) | 9901 | -€750 | -€4,867 | -€4,117 | -549% |
| Financial charges | 65/66B | €523 | €4,339 | +€3,816 | +729% |
| Recurring financial charges | 65 | €523 | €4,339 | +€3,816 | +729% |
| Profit (loss) for the period before taxes | 9903 | -€1,273 | -€9,206 | -€7,933 | -623% |
| Profit (loss) for the period | 9904 | -€1,273 | -€9,206 | -€7,933 | -623% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,273 | -€9,206 | -€7,933 | -623% |
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 13 October 2026 via checked.be.