ZIRAGGO: 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.
ZIRAGGO
Largest movements
- Tangible fixed assets -€55,597
down €55,597 (-13.0%), from €426,840 to €371,243
of which Leasing and similar rights: -€48,214
- Receivables within one year -€18,293
down €18,293 (-39.1%), from €46,768 to €28,475
- Stocks and contracts -€13,004
down €13,004 (-8.2%), from €157,908 to €144,905
- Profit (loss) carried forward -€53,617
down €53,617 (-204%), from -€26,240 to -€79,858
- Current portion of long-term debt -€18,702
down €18,702 (-32.3%), from €57,893 to €39,191
- Debts after one year -€11,223
down €11,223 (-19.6%), from €57,377 to €46,154
- Trade debts +€9,653
up €9,653 (+138%), from €6,986 to €16,639
- Tax, wage and social debts -€9,141
down €9,141 (-69.7%), from €13,111 to €3,970
of which Taxes: -€9,141
- Financial income +€59,895
up €59,895 (+3,040,332%), from €2 to €59,897
of which Non-recurring financial income: +€59,896
- Gross operating margin -€59,335
down €59,335, from €38,956 to -€20,379
- Depreciation -€12,370
down €12,370 (-13.3%), from €93,298 to €80,928
- Staff costs +€3,918
up €3,918, from -€2,880 to €1,038
- Other operating charges -€1,905
down €1,905 (-26.1%), from €7,302 to €5,397
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 | €771,638 | €686,048 | -€85,590 | -11.1% |
| Fixed assets | 21/28 | €433,750 | €378,153 | -€55,597 | -12.8% |
| Tangible fixed assets | 22/27 | €426,840 | €371,243 | -€55,597 | -13.0% |
| Land and buildings | 22 | €234,859 | €226,759 | -€8,100 | -3.4% |
| Plant, machinery and equipment | 23 | €3,859 | €3,573 | -€286 | -7.4% |
| Furniture and vehicles | 24 | €84,441 | €85,444 | +€1,003 | +1.2% |
| Leasing and similar rights | 25 | €103,681 | €55,467 | -€48,214 | -46.5% |
| Financial fixed assets | 28 | €6,910 | €6,910 | = | 0.0% |
| Current assets | 29/58 | €337,888 | €307,895 | -€29,993 | -8.9% |
| Stocks and contracts in progress | 3 | €157,908 | €144,905 | -€13,004 | -8.2% |
| Stocks | 30/36 | €157,908 | €144,905 | -€13,004 | -8.2% |
| Amounts receivable within one year | 40/41 | €46,768 | €28,475 | -€18,293 | -39.1% |
| Trade receivables | 40 | €46,768 | €28,475 | -€18,293 | -39.1% |
| Cash at bank and in hand | 54/58 | €127,325 | €128,412 | +€1,086 | +0.9% |
| Deferred charges and accrued income | 490/1 | €5,887 | €6,104 | +€217 | +3.7% |
| Total equity and liabilities | 10/49 | €771,638 | €686,048 | -€85,590 | -11.1% |
| Equity | 10/15 | €86,936 | €33,319 | -€53,617 | -61.7% |
| Contributions | 10/11 | €9,676 | €9,676 | = | 0.0% |
| Reserves | 13 | €103,500 | €103,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €103,500 | €103,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,240 | -€79,858 | -€53,617 | -204% |
| Provisions and deferred taxes | 16 | €19,354 | €19,354 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €19,354 | €19,354 | = | 0.0% |
| Pensions and similar obligations | 160 | €19,354 | €19,354 | = | 0.0% |
| Amounts payable | 17/49 | €665,348 | €633,376 | -€31,973 | -4.8% |
| Amounts payable after more than one year | 17 | €57,377 | €46,154 | -€11,223 | -19.6% |
| Financial debts | 170/4 | €57,377 | €46,154 | -€11,223 | -19.6% |
| Amounts payable within one year | 42/48 | €607,972 | €587,222 | -€20,750 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €57,893 | €39,191 | -€18,702 | -32.3% |
| Trade debts | 44 | €6,986 | €16,639 | +€9,653 | +138% |
| Suppliers | 440/4 | €6,986 | €16,639 | +€9,653 | +138% |
| Taxes, remuneration and social security | 45 | €13,111 | €3,970 | -€9,141 | -69.7% |
| Taxes | 450/3 | €10,579 | €1,437 | -€9,141 | -86.4% |
| Remuneration and social security | 454/9 | €2,532 | €2,532 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €529,981 | €527,422 | -€2,560 | -0.5% |
| Remuneration, social security and pensions | 62 | -€2,880 | €1,038 | +€3,918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,298 | €80,928 | -€12,370 | -13.3% |
| Other operating charges | 640/8 | €7,302 | €5,397 | -€1,905 | -26.1% |
| Gross operating margin | 9900 | €38,956 | -€20,379 | -€59,335 | |
| Operating profit (loss) | 9901 | -€58,764 | -€107,743 | -€48,979 | -83.3% |
| Financial income | 75/76B | €2 | €59,897 | +€59,895 | +3,040,332% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -69.0% |
| Non-recurring financial income | 76B | - | €59,896 | +€59,896 | |
| Financial charges | 65/66B | €6,099 | €5,348 | -€751 | -12.3% |
| Recurring financial charges | 65 | €6,099 | €5,348 | -€751 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€64,861 | -€53,195 | +€11,667 | +18.0% |
| Income taxes | 67/77 | €419 | €423 | +€4 | +1.0% |
| Profit (loss) for the period | 9904 | -€65,280 | -€53,617 | +€11,663 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,280 | -€53,617 | +€11,663 | +17.9% |
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 31 October 2026 via checked.be.