ZIVA IMMO: 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.
ZIVA IMMO
Largest movements
- Current investments +€81,547
up €81,547 (+11.0%), from €738,410 to €819,956
- Cash +€40,931
up €40,931 (+67.0%), from €61,112 to €102,043
mainly Other debts (+€468,946) and Debts after one year (+€334,029)
- Receivables within one year +€40,518
up €40,518 (+128%), from €31,624 to €72,143
of which Other amounts receivable: +€29,238
- Tangible fixed assets -€38,399
down €38,399 (-3.7%), from €1.0m to €1.0m
- Reserves -€604,197
down €604,197 (-47.1%), from €1.3m to €677,907
of which Distributable reserves: -€563,999
- Other debts +€468,946
up €468,946 (+113%), from €414,267 to €883,213
- Debts after one year +€334,029
up €334,029 (+3,943%), from €8,471 to €342,500
of which Other amounts payable: +€342,500
- Current portion of long-term debt -€92,816
down €92,816 (-91.6%), from €101,287 to €8,471
- Gross operating margin -€153,338
down €153,338 (-54.9%), from €279,476 to €126,138
- Taxes -€41,775
down €41,775 (-62.9%), from €66,377 to €24,602
- Financial charges +€26,968
up €26,968, from -€8,891 to €18,077
- Financial income +€17,332
up €17,332 (+679%), from €2,552 to €19,884
- Other operating charges -€11,010
down €11,010 (-41.5%), from €26,554 to €15,544
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 | €2,300,030 | €2,420,792 | +€120,762 | +5.3% |
| Fixed assets | 21/28 | €1,463,888 | €1,425,489 | -€38,399 | -2.6% |
| Tangible fixed assets | 22/27 | €1,038,888 | €1,000,489 | -€38,399 | -3.7% |
| Land and buildings | 22 | €1,038,888 | €1,000,489 | -€38,399 | -3.7% |
| Financial fixed assets | 28 | €425,000 | €425,000 | = | 0.0% |
| Current assets | 29/58 | €836,142 | €995,303 | +€159,162 | +19.0% |
| Amounts receivable within one year | 40/41 | €31,624 | €72,143 | +€40,518 | +128% |
| Trade receivables | 40 | €16,759 | €28,039 | +€11,281 | +67.3% |
| Other amounts receivable | 41 | €14,866 | €44,104 | +€29,238 | +197% |
| Current investments | 50/53 | €738,410 | €819,956 | +€81,547 | +11.0% |
| Cash at bank and in hand | 54/58 | €61,112 | €102,043 | +€40,931 | +67.0% |
| Deferred charges and accrued income | 490/1 | €4,996 | €1,161 | -€3,834 | -76.8% |
| Total equity and liabilities | 10/49 | €2,300,030 | €2,420,792 | +€120,762 | +5.3% |
| Equity | 10/15 | €1,729,443 | €1,125,246 | -€604,197 | -34.9% |
| Contributions | 10/11 | €447,339 | €447,339 | = | 0.0% |
| Reserves | 13 | €1,282,104 | €677,907 | -€604,197 | -47.1% |
| Non-distributable reserves | 130/1 | €40,197 | €0 | -€40,197 | -100% |
| Reserves not available under the articles | 1311 | €40,197 | €0 | -€40,197 | -100% |
| Distributable reserves | 133 | €1,241,906 | €677,907 | -€563,999 | -45.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €570,587 | €1,295,546 | +€724,959 | +127% |
| Amounts payable after more than one year | 17 | €8,471 | €342,500 | +€334,029 | +3,943% |
| Financial debts | 170/4 | €8,471 | €0 | -€8,471 | -100% |
| Other amounts payable | 178/9 | - | €342,500 | +€342,500 | |
| Amounts payable within one year | 42/48 | €562,116 | €953,046 | +€390,930 | +69.5% |
| Current portion of amounts payable after more than one year | 42 | €101,287 | €8,471 | -€92,816 | -91.6% |
| Trade debts | 44 | €13,997 | €8,903 | -€5,094 | -36.4% |
| Suppliers | 440/4 | €13,997 | €8,903 | -€5,094 | -36.4% |
| Taxes, remuneration and social security | 45 | €32,565 | €52,459 | +€19,894 | +61.1% |
| Taxes | 450/3 | €32,565 | €52,459 | +€19,894 | +61.1% |
| Other amounts payable | 47/48 | €414,267 | €883,213 | +€468,946 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,982 | €38,399 | -€583 | -1.5% |
| Other operating charges | 640/8 | €26,554 | €15,544 | -€11,010 | -41.5% |
| Gross operating margin | 9900 | €279,476 | €126,138 | -€153,338 | -54.9% |
| Operating profit (loss) | 9901 | €213,940 | €72,195 | -€141,746 | -66.3% |
| Financial income | 75/76B | €2,552 | €19,884 | +€17,332 | +679% |
| Recurring financial income | 75 | €2,552 | €19,884 | +€17,332 | +679% |
| Financial charges | 65/66B | -€8,891 | €18,077 | +€26,968 | |
| Recurring financial charges | 65 | -€8,891 | €18,077 | +€26,968 | |
| Profit (loss) for the period before taxes | 9903 | €225,382 | €74,001 | -€151,381 | -67.2% |
| Income taxes | 67/77 | €66,377 | €24,602 | -€41,775 | -62.9% |
| Profit (loss) for the period | 9904 | €159,005 | €49,399 | -€109,606 | -68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €159,005 | €49,399 | -€109,606 | -68.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.