ZINO: 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.
ZINO
Largest movements
- Cash +€95,598
up €95,598 (+59.4%), from €161,072 to €256,670
mainly Net result for the year (+€137,950) and Other debts (+€112,005)
- Tangible fixed assets -€30,196
down €30,196 (-2.7%), from €1.1m to €1.1m
of which Plant, machinery and equipment: -€22,503
- Receivables within one year -€21,213
down €21,213 (-78.4%), from €27,063 to €5,850
- Stocks and contracts -€18,000
no longer reported in 2025 (was €18,000)
- Other debts +€112,005
up €112,005 (+535.1%), from €20,931 to €132,936
- Tax, wage and social debts -€29,160
down €29,160 (-80.7%), from €36,155 to €6,995
of which Taxes: -€28,844
- Debts after one year -€25,872
down €25,872 (-11.7%), from €221,988 to €196,116
- Current portion of long-term debt -€22,690
down €22,690 (-45.2%), from €50,180 to €27,490
- Gross operating margin +€59,279
up €59,279 (+28.6%), from €207,234 to €266,513
- Taxes +€22,511
up €22,511 (+95.1%), from €23,670 to €46,181
- Other operating charges -€13,941
down €13,941 (-35.9%), from €38,865 to €24,924
- Financial income -€3,772
down €3,772 (-77.6%), from €4,862 to €1,090
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 | €1,308,600 | €1,335,231 | +€26,630 | +2.0% |
| Fixed assets | 21/28 | €1,102,466 | €1,072,270 | -€30,196 | -2.7% |
| Tangible fixed assets | 22/27 | €1,102,466 | €1,072,270 | -€30,196 | -2.7% |
| Land and buildings | 22 | €960,000 | €960,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €117,279 | €94,776 | -€22,503 | -19.2% |
| Furniture and vehicles | 24 | €25,187 | €17,494 | -€7,693 | -30.5% |
| Current assets | 29/58 | €206,135 | €262,961 | +€56,826 | +27.6% |
| Stocks and contracts in progress | 3 | €18,000 | - | -€18,000 | |
| Stocks | 30/36 | €18,000 | - | -€18,000 | |
| Amounts receivable within one year | 40/41 | €27,063 | €5,850 | -€21,213 | -78.4% |
| Other amounts receivable | 41 | €27,063 | €5,850 | -€21,213 | -78.4% |
| Cash at bank and in hand | 54/58 | €161,072 | €256,670 | +€95,598 | +59.4% |
| Deferred charges and accrued income | 490/1 | - | €441 | +€441 | |
| Total equity and liabilities | 10/49 | €1,308,600 | €1,335,231 | +€26,630 | +2.0% |
| Equity | 10/15 | €902,477 | €900,527 | -€1,950 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €896,277 | €894,327 | -€1,950 | -0.2% |
| Distributable reserves | 133 | €896,277 | €894,327 | -€1,950 | -0.2% |
| Amounts payable | 17/49 | €406,124 | €434,704 | +€28,581 | +7.0% |
| Amounts payable after more than one year | 17 | €221,988 | €196,116 | -€25,872 | -11.7% |
| Financial debts | 170/4 | €221,988 | €196,116 | -€25,872 | -11.7% |
| Amounts payable within one year | 42/48 | €112,242 | €176,965 | +€64,723 | +57.7% |
| Current portion of amounts payable after more than one year | 42 | €50,180 | €27,490 | -€22,690 | -45.2% |
| Trade debts | 44 | €4,976 | €9,544 | +€4,568 | +91.8% |
| Suppliers | 440/4 | €4,976 | €9,544 | +€4,568 | +91.8% |
| Taxes, remuneration and social security | 45 | €36,155 | €6,995 | -€29,160 | -80.7% |
| Taxes | 450/3 | €35,839 | €6,995 | -€28,844 | -80.5% |
| Remuneration and social security | 454/9 | €316 | - | -€316 | |
| Other amounts payable | 47/48 | €20,931 | €132,936 | +€112,005 | +535.1% |
| Accrued charges and deferred income | 492/3 | €71,894 | €61,623 | -€10,271 | -14.3% |
| Remuneration, social security and pensions | 62 | €22,321 | €22,512 | +€192 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,948 | €30,196 | +€1,247 | +4.3% |
| Other operating charges | 640/8 | €38,865 | €24,924 | -€13,941 | -35.9% |
| Gross operating margin | 9900 | €207,234 | €266,513 | +€59,279 | +28.6% |
| Operating profit (loss) | 9901 | €117,100 | €188,881 | +€71,781 | +61.3% |
| Financial income | 75/76B | €4,862 | €1,090 | -€3,772 | -77.6% |
| Recurring financial income | 75 | €4,862 | €1,090 | -€3,772 | -77.6% |
| Financial charges | 65/66B | €6,083 | €5,839 | -€244 | -4.0% |
| Recurring financial charges | 65 | €6,083 | €5,839 | -€244 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €115,878 | €184,131 | +€68,253 | +58.9% |
| Income taxes | 67/77 | €23,670 | €46,181 | +€22,511 | +95.1% |
| Profit (loss) for the period | 9904 | €92,208 | €137,950 | +€45,741 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €92,208 | €137,950 | +€45,741 | +49.6% |
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 30 September 2026 via checked.be.