ZIRO: 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.
ZIRO
Largest movements
- Tangible fixed assets +€16,400
up €16,400 (+54.8%), from €29,954 to €46,353
of which Plant, machinery and equipment: +€17,096
- Cash -€1,594
down €1,594 (-40.3%), from €3,957 to €2,363
mainly Investment in fixed assets (net) (-€19,135) and Deferred charges and accrued income (-€39)
- Other debts +€12,500
new in 2025: €12,500
- Accrued charges and deferred income +€985
new in 2025: €985
- Profit (loss) carried forward +€923
up €923, from -€923 to €0
- Trade debts +€877
up €877, from €0 to €877
- Gross operating margin +€2,175
up €2,175 (+69.4%), from €3,135 to €5,310
- Depreciation +€1,165
up €1,165 (+74.2%), from €1,570 to €2,735
- Other operating charges +€136
up €136 (+7.1%), from €1,912 to €2,048
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 | €49,539 | €64,384 | +€14,845 | +30.0% |
| Fixed assets | 21/28 | €29,954 | €46,353 | +€16,400 | +54.8% |
| Tangible fixed assets | 22/27 | €29,954 | €46,353 | +€16,400 | +54.8% |
| Land and buildings | 22 | €21,530 | €20,834 | -€696 | -3.2% |
| Plant, machinery and equipment | 23 | €8,424 | €25,520 | +€17,096 | +203% |
| Current assets | 29/58 | €19,586 | €18,031 | -€1,555 | -7.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €14,874 | €14,874 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,957 | €2,363 | -€1,594 | -40.3% |
| Deferred charges and accrued income | 490/1 | €755 | €794 | +€39 | +5.2% |
| Total equity and liabilities | 10/49 | €49,539 | €64,384 | +€14,845 | +30.0% |
| Equity | 10/15 | €49,539 | €50,022 | +€483 | +1.0% |
| Contributions | 10/11 | €18,550 | €18,734 | +€184 | +1.0% |
| Revaluation surpluses | 12 | €184 | - | -€184 | |
| Reserves | 13 | €31,729 | €31,288 | -€440 | -1.4% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Own shares acquired | 1312 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €0 | = | |
| Distributable reserves | 133 | €16,855 | €16,415 | -€440 | -2.6% |
| Profit (loss) carried forward | 14 | -€923 | €0 | +€923 | |
| Amounts payable | 17/49 | €0 | €14,362 | +€14,362 | |
| Amounts payable within one year | 42/48 | €0 | €13,377 | +€13,377 | |
| Trade debts | 44 | €0 | €877 | +€877 | |
| Suppliers | 440/4 | €0 | €877 | +€877 | |
| Other amounts payable | 47/48 | - | €12,500 | +€12,500 | |
| Accrued charges and deferred income | 492/3 | - | €985 | +€985 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,570 | €2,735 | +€1,165 | +74.2% |
| Other operating charges | 640/8 | €1,912 | €2,048 | +€136 | +7.1% |
| Gross operating margin | 9900 | €3,135 | €5,310 | +€2,175 | +69.4% |
| Operating profit (loss) | 9901 | -€347 | €528 | +€874 | |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€390 | €483 | +€873 | |
| Profit (loss) for the period | 9904 | -€390 | €483 | +€873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€390 | €483 | +€873 |
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 17 October 2026 via checked.be.