ZINI: 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.
ZINI
Largest movements
- Current investments -€120,000
down €120,000 (-100.0%), from €120,000 to €0
- Cash -€42,673
down €42,673 (-84.1%), from €50,734 to €8,061
mainly Contributions, distributions and other (-€249,154) and Tax, wage and social debts (-€6,870)
- Tangible fixed assets -€12,898
down €12,898 (-31.8%), from €40,603 to €27,704
- Receivables within one year -€5,704
down €5,704 (-31.3%), from €18,237 to €12,533
of which Trade receivables: -€6,926
- Reserves -€193,610
down €193,610 (-100.0%), from €193,610 to €0
- Other debts +€17,881
new in 2025: €17,881
- Tax, wage and social debts -€6,870
down €6,870 (-19.3%), from €35,618 to €28,748
- Financial income -€1,589
down €1,589 (-51.0%), from €3,117 to €1,529
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 | €231,618 | €50,357 | -€181,261 | -78.3% |
| Fixed assets | 21/28 | €40,603 | €27,704 | -€12,898 | -31.8% |
| Tangible fixed assets | 22/27 | €40,603 | €27,704 | -€12,898 | -31.8% |
| Furniture and vehicles | 24 | €40,603 | €27,704 | -€12,898 | -31.8% |
| Current assets | 29/58 | €191,015 | €22,653 | -€168,363 | -88.1% |
| Amounts receivable within one year | 40/41 | €18,237 | €12,533 | -€5,704 | -31.3% |
| Trade receivables | 40 | €17,937 | €11,011 | -€6,926 | -38.6% |
| Other amounts receivable | 41 | €300 | €1,522 | +€1,222 | +407.4% |
| Current investments | 50/53 | €120,000 | €0 | -€120,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €50,734 | €8,061 | -€42,673 | -84.1% |
| Deferred charges and accrued income | 490/1 | €2,044 | €2,058 | +€14 | +0.7% |
| Total equity and liabilities | 10/49 | €231,618 | €50,357 | -€181,261 | -78.3% |
| Equity | 10/15 | €194,610 | €1,000 | -€193,610 | -99.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €193,610 | €0 | -€193,610 | -100.0% |
| Distributable reserves | 133 | €193,610 | €0 | -€193,610 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €37,008 | €49,357 | +€12,349 | +33.4% |
| Amounts payable within one year | 42/48 | €37,008 | €49,357 | +€12,349 | +33.4% |
| Trade debts | 44 | €1,390 | €2,728 | +€1,338 | +96.3% |
| Suppliers | 440/4 | €1,390 | €2,728 | +€1,338 | +96.3% |
| Taxes, remuneration and social security | 45 | €35,618 | €28,748 | -€6,870 | -19.3% |
| Taxes | 450/3 | €35,618 | €28,748 | -€6,870 | -19.3% |
| Other amounts payable | 47/48 | - | €17,881 | +€17,881 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,898 | €12,898 | -€0 | 0.0% |
| Other operating charges | 640/8 | €630 | €801 | +€171 | +27.2% |
| Gross operating margin | 9900 | €81,840 | €82,006 | +€166 | +0.2% |
| Operating profit (loss) | 9901 | €68,312 | €68,307 | -€5 | 0.0% |
| Financial income | 75/76B | €3,117 | €1,529 | -€1,589 | -51.0% |
| Recurring financial income | 75 | €3,117 | €1,529 | -€1,589 | -51.0% |
| Financial charges | 65/66B | €50 | €55 | +€5 | +11.0% |
| Recurring financial charges | 65 | €50 | €55 | +€5 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €71,379 | €69,780 | -€1,599 | -2.2% |
| Income taxes | 67/77 | €14,596 | €14,237 | -€360 | -2.5% |
| Profit (loss) for the period | 9904 | €56,783 | €55,544 | -€1,239 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,783 | €55,544 | -€1,239 | -2.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.