ZINED: 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.
ZINED
Largest movements
- Receivables within one year +€14,040
up €14,040 (+687.1%), from €2,043 to €16,083
of which Trade receivables: +€13,646
- Cash -€3,995
down €3,995 (-62.4%), from €6,400 to €2,405
mainly Receivables within one year (-€14,040) and Deferred charges and accrued income (-€3,725)
- Deferred charges and accrued income +€3,725
up €3,725 (+50.0%), from €7,452 to €11,177
- Reserves +€10,191
new in 2025: €10,191
- Tax, wage and social debts +€4,107
up €4,107 (+228.1%), from €1,800 to €5,907
- Trade debts -€623
down €623 (-49.3%), from €1,264 to €640
- Gross operating margin +€8,221
up €8,221 (+73.2%), from €11,225 to €19,446
- Taxes +€4,107
up €4,107 (+228.1%), from €1,800 to €5,907
- Other operating charges +€2,460
up €2,460 (+1008.3%), from €244 to €2,704
- Financial charges +€338
up €338 (+159.8%), from €211 to €549
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 | €16,146 | €29,820 | +€13,674 | +84.7% |
| Fixed assets | 21/28 | €251 | €156 | -€95 | -38.0% |
| Tangible fixed assets | 22/27 | €251 | €156 | -€95 | -38.0% |
| Furniture and vehicles | 24 | €251 | €156 | -€95 | -38.0% |
| Current assets | 29/58 | €15,895 | €29,665 | +€13,770 | +86.6% |
| Amounts receivable within one year | 40/41 | €2,043 | €16,083 | +€14,040 | +687.1% |
| Trade receivables | 40 | €1,354 | €15,000 | +€13,646 | +1008.1% |
| Other amounts receivable | 41 | €690 | €1,083 | +€393 | +57.0% |
| Cash at bank and in hand | 54/58 | €6,400 | €2,405 | -€3,995 | -62.4% |
| Deferred charges and accrued income | 490/1 | €7,452 | €11,177 | +€3,725 | +50.0% |
| Total equity and liabilities | 10/49 | €16,146 | €29,820 | +€13,674 | +84.7% |
| Equity | 10/15 | €12,022 | €22,213 | +€10,191 | +84.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €10,191 | +€10,191 | |
| Distributable reserves | 133 | - | €10,191 | +€10,191 | |
| Profit (loss) carried forward | 14 | €7,022 | €7,022 | = | 0.0% |
| Amounts payable | 17/49 | €4,124 | €7,607 | +€3,483 | +84.5% |
| Amounts payable within one year | 42/48 | €4,124 | €7,607 | +€3,483 | +84.5% |
| Trade debts | 44 | €1,264 | €640 | -€623 | -49.3% |
| Suppliers | 440/4 | €1,264 | €640 | -€623 | -49.3% |
| Taxes, remuneration and social security | 45 | €1,800 | €5,907 | +€4,107 | +228.1% |
| Taxes | 450/3 | €1,800 | €5,907 | +€4,107 | +228.1% |
| Other amounts payable | 47/48 | €1,060 | €1,060 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35 | €95 | +€60 | +170.4% |
| Other operating charges | 640/8 | €244 | €2,704 | +€2,460 | +1008.3% |
| Gross operating margin | 9900 | €11,225 | €19,446 | +€8,221 | +73.2% |
| Operating profit (loss) | 9901 | €10,946 | €16,646 | +€5,700 | +52.1% |
| Financial income | 75/76B | €44 | €1 | -€43 | -97.4% |
| Recurring financial income | 75 | €44 | €1 | -€43 | -97.4% |
| Financial charges | 65/66B | €211 | €549 | +€338 | +159.8% |
| Recurring financial charges | 65 | €211 | €549 | +€338 | +159.8% |
| Profit (loss) for the period before taxes | 9903 | €10,778 | €16,098 | +€5,320 | +49.4% |
| Income taxes | 67/77 | €1,800 | €5,907 | +€4,107 | +228.1% |
| Profit (loss) for the period | 9904 | €8,978 | €10,191 | +€1,213 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,978 | €10,191 | +€1,213 | +13.5% |
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.