Zivair: 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.
Zivair
Largest movements
- Receivables within one year +€34,290
up €34,290 (+101%), from €33,872 to €68,162
of which Trade receivables: +€28,072
- Deferred charges and accrued income +€6,655
up €6,655 (+28.8%), from €23,074 to €29,729
- Tangible fixed assets -€5,375
down €5,375 (-34.2%), from €15,703 to €10,328
of which Furniture and vehicles: -€3,152
- Reserves +€15,304
up €15,304 (+10.0%), from €153,104 to €168,408
- Trade debts +€12,460
up €12,460 (+144%), from €8,636 to €21,095
- Profit (loss) carried forward +€7,568
no longer reported in 2025 (was -€7,568)
- Tax, wage and social debts +€2,815
new in 2025: €2,815
- Gross operating margin +€28,769
up €28,769 (+277%), from €10,374 to €39,143
- Taxes +€8,798
up €8,798 (+1,556%), from €566 to €9,363
- Other operating charges -€7,071
down €7,071 (-83.4%), from €8,482 to €1,412
- Depreciation +€1,501
up €1,501 (+38.8%), from €3,874 to €5,375
- Financial income -€751
down €751 (-77.0%), from €975 to €224
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 | €173,829 | €210,869 | +€37,039 | +21.3% |
| Fixed assets | 21/28 | €15,703 | €10,328 | -€5,375 | -34.2% |
| Tangible fixed assets | 22/27 | €15,703 | €10,328 | -€5,375 | -34.2% |
| Plant, machinery and equipment | 23 | €4,742 | €2,520 | -€2,223 | -46.9% |
| Furniture and vehicles | 24 | €10,960 | €7,808 | -€3,152 | -28.8% |
| Current assets | 29/58 | €158,127 | €200,541 | +€42,414 | +26.8% |
| Amounts receivable within one year | 40/41 | €33,872 | €68,162 | +€34,290 | +101% |
| Trade receivables | 40 | €2,113 | €30,185 | +€28,072 | +1,329% |
| Other amounts receivable | 41 | €31,759 | €37,977 | +€6,218 | +19.6% |
| Cash at bank and in hand | 54/58 | €101,181 | €102,650 | +€1,469 | +1.5% |
| Deferred charges and accrued income | 490/1 | €23,074 | €29,729 | +€6,655 | +28.8% |
| Total equity and liabilities | 10/49 | €173,829 | €210,869 | +€37,039 | +21.3% |
| Equity | 10/15 | €164,086 | €186,958 | +€22,873 | +13.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €153,104 | €168,408 | +€15,304 | +10.0% |
| Distributable reserves | 133 | €153,104 | €168,408 | +€15,304 | +10.0% |
| Profit (loss) carried forward | 14 | -€7,568 | - | +€7,568 | |
| Amounts payable | 17/49 | €9,744 | €23,910 | +€14,167 | +145% |
| Amounts payable within one year | 42/48 | €8,636 | €23,910 | +€15,275 | +177% |
| Trade debts | 44 | €8,636 | €21,095 | +€12,460 | +144% |
| Suppliers | 440/4 | €8,636 | €21,095 | +€12,460 | +144% |
| Taxes, remuneration and social security | 45 | - | €2,815 | +€2,815 | |
| Taxes | 450/3 | - | €2,815 | +€2,815 | |
| Accrued charges and deferred income | 492/3 | €1,108 | - | -€1,108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,874 | €5,375 | +€1,501 | +38.8% |
| Other operating charges | 640/8 | €8,482 | €1,412 | -€7,071 | -83.4% |
| Gross operating margin | 9900 | €10,374 | €39,143 | +€28,769 | +277% |
| Operating profit (loss) | 9901 | -€1,982 | €32,357 | +€34,339 | |
| Financial income | 75/76B | €975 | €224 | -€751 | -77.0% |
| Recurring financial income | 75 | €975 | €224 | -€751 | -77.0% |
| Financial charges | 65/66B | €847 | €345 | -€503 | -59.3% |
| Recurring financial charges | 65 | €847 | €345 | -€503 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,854 | €32,236 | +€34,090 | |
| Income taxes | 67/77 | €566 | €9,363 | +€8,798 | +1,556% |
| Profit (loss) for the period | 9904 | -€2,419 | €22,873 | +€25,292 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,419 | €22,873 | +€25,292 |
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 23 October 2026 via checked.be.