ZIVIX: 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.
What changed
ZIVIX
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€270,347
2024 · €469,173-€198,826
Equity
€14.3m
2024 · €3.0m+€11.3m
Cash
€208,598
2024 · €140,716+€67,882
Balance sheet total
€30.3m
2024 · €5.4m+€24.9m
Largest movements
Assets
- Financial fixed assets +€22.8m
up €22.8m (+666%), from €3.4m to €26.2m
- Current investments +€2.0m
new in 2025: €2.0m
Equity and liabilities
- Contributions +€11.0m
up €11.0m (+734%), from €1.5m to €12.5m
- Debts after one year +€7.8m
up €7.8m (+429%), from €1.8m to €9.6m
of which Financial debts: +€7.8m
- Short-term financial debts +€5.8m
new in 2025: €5.8m
Income statement
- Gross operating margin -€244,461
down €244,461 (-35.9%), from €680,086 to €435,626
- Taxes -€69,639
down €69,639 (-86.4%), from €80,585 to €10,946
- Financial income -€59,939
down €59,939 (-18.9%), from €316,486 to €256,548
- Staff costs -€25,665
down €25,665 (-9.9%), from €259,752 to €234,086
- Financial charges -€15,006
down €15,006 (-9.7%), from €154,723 to €139,717
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.
Result 2024
€469,173
Gross operating margin
-€244,461
Staff costs
+€25,665
Depreciation
-€6,690
Other operating charges
+€1,953
Financial income
-€59,939
Financial charges
+€15,006
Taxes
+€69,639
Result 2025
€270,347
raises the resultlowers the result
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.
From operations
+€508,867
Investment
-€25.0m
Financing
+€24.6m
Cash 2024
€140,716
From operations (derived)
+€508,867
Net result for the year
+€270,347
Depreciation
+€36,376
Smaller working-capital items
-€90,834
Receivables within one year
+€233,980
Accrued charges and deferred income
+€58,998
Investment (derived)
-€25.0m
Investment in fixed assets (net)
-€23.0m
Current investments
-€2.0m
Financing
+€24.6m
Debts after one year
+€7.8m
Current portion of long-term debt
+€12,447
Short-term financial debts
+€5.8m
Contributions, distributions and other
+€11.0m
Cash 2025
€208,598
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,441,296 | €30,308,756 | +€24.9m | +457% |
| Fixed assets | 21/28 | €3,583,467 | €26,554,759 | +€23.0m | +641% |
| Intangible fixed assets | 21 | €2,892 | €1,356 | -€1,536 | -53.1% |
| Tangible fixed assets | 22/27 | €154,576 | €314,206 | +€159,630 | +103% |
| Furniture and vehicles | 24 | €66,090 | €138,220 | +€72,130 | +109% |
| Assets under construction and advance payments | 27 | €88,485 | €175,985 | +€87,500 | +98.9% |
| Financial fixed assets | 28 | €3,426,000 | €26,239,197 | +€22.8m | +666% |
| Current assets | 29/58 | €1,857,829 | €3,753,997 | +€1.9m | +102% |
| Amounts receivable after more than one year | 29 | €940,000 | €985,000 | +€45,000 | +4.8% |
| Other amounts receivable | 291 | €940,000 | €985,000 | +€45,000 | +4.8% |
| Amounts receivable within one year | 40/41 | €610,273 | €376,293 | -€233,980 | -38.3% |
| Trade receivables | 40 | €610,273 | €287,240 | -€323,034 | -52.9% |
| Other amounts receivable | 41 | €0 | €89,054 | +€89,054 | |
| Current investments | 50/53 | - | €2,000,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €140,716 | €208,598 | +€67,882 | +48.2% |
| Deferred charges and accrued income | 490/1 | €166,840 | €184,106 | +€17,266 | +10.3% |
| Total equity and liabilities | 10/49 | €5,441,296 | €30,308,756 | +€24.9m | +457% |
| Equity | 10/15 | €3,005,253 | €14,279,105 | +€11.3m | +375% |
| Contributions | 10/11 | €1,500,000 | €12,503,505 | +€11.0m | +734% |
| Reserves | 13 | €1,505,253 | €1,775,600 | +€270,347 | +18.0% |
| Distributable reserves | 133 | €1,505,253 | €1,775,600 | +€270,347 | +18.0% |
| Amounts payable | 17/49 | €2,436,042 | €16,029,650 | +€13.6m | +558% |
| Amounts payable after more than one year | 17 | €1,809,138 | €9,569,868 | +€7.8m | +429% |
| Financial debts | 170/4 | €1,796,652 | €9,569,868 | +€7.8m | +433% |
| Other amounts payable | 178/9 | €12,486 | €0 | -€12,486 | -100% |
| Amounts payable within one year | 42/48 | €527,698 | €6,301,577 | +€5.8m | +1,094% |
| Current portion of amounts payable after more than one year | 42 | €303,482 | €315,930 | +€12,447 | +4.1% |
| Financial debts | 43 | - | €5,790,000 | +€5.8m | |
| Credit institutions | 430/8 | - | €5,790,000 | +€5.8m | |
| Trade debts | 44 | €92,934 | €88,067 | -€4,867 | -5.2% |
| Suppliers | 440/4 | €92,934 | €88,067 | -€4,867 | -5.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €129,674 | €94,739 | -€34,935 | -26.9% |
| Taxes | 450/3 | €92,713 | €59,160 | -€33,553 | -36.2% |
| Remuneration and social security | 454/9 | €36,960 | €35,579 | -€1,382 | -3.7% |
| Other amounts payable | 47/48 | €1,608 | €12,841 | +€11,233 | +699% |
| Accrued charges and deferred income | 492/3 | €99,207 | €158,205 | +€58,998 | +59.5% |
| Remuneration, social security and pensions | 62 | €259,752 | €234,086 | -€25,665 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,686 | €36,376 | +€6,690 | +22.5% |
| Other operating charges | 640/8 | €2,653 | €700 | -€1,953 | -73.6% |
| Gross operating margin | 9900 | €680,086 | €435,626 | -€244,461 | -35.9% |
| Operating profit (loss) | 9901 | €387,995 | €164,463 | -€223,532 | -57.6% |
| Financial income | 75/76B | €316,486 | €256,548 | -€59,939 | -18.9% |
| Recurring financial income | 75 | €316,486 | €256,548 | -€59,939 | -18.9% |
| Financial charges | 65/66B | €154,723 | €139,717 | -€15,006 | -9.7% |
| Recurring financial charges | 65 | €154,723 | €139,717 | -€15,006 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €549,758 | €281,293 | -€268,465 | -48.8% |
| Income taxes | 67/77 | €80,585 | €10,946 | -€69,639 | -86.4% |
| Profit (loss) for the period | 9904 | €469,173 | €270,347 | -€198,826 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €469,173 | €270,347 | -€198,826 | -42.4% |
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 22 October 2026 via checked.be.