ZIWA: 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.
ZIWA
Largest movements
- Cash +€68,494
up €68,494 (+137%), from €50,102 to €118,596
mainly Receivables within one year (+€46,347) and Trade debts (+€28,621)
- Receivables within one year -€46,347
down €46,347 (-42.6%), from €108,877 to €62,529
of which Trade receivables: -€49,066
- Deferred charges and accrued income +€17,732
up €17,732 (+181%), from €9,801 to €27,533
- Tangible fixed assets -€17,512
down €17,512 (-16.8%), from €104,406 to €86,893
- Stocks and contracts -€3,441
down €3,441 (-8.3%), from €41,293 to €37,852
- Trade debts +€28,621
up €28,621 (+32.4%), from €88,455 to €117,076
- Tax, wage and social debts +€20,659
up €20,659 (+112%), from €18,494 to €39,153
of which Taxes: +€16,868
- Debts after one year -€15,435
down €15,435 (-35.3%), from €43,688 to €28,253
- Current portion of long-term debt -€14,803
down €14,803 (-49.0%), from €30,238 to €15,435
- Reserves +€4,000
up €4,000 (+7.9%), from €50,660 to €54,660
of which Distributable reserves: +€4,000
- Staff costs -€35,092
down €35,092 (-17.5%), from €200,237 to €165,145
- Gross operating margin -€16,957
down €16,957 (-7.5%), from €226,890 to €209,933
- Depreciation +€8,166
up €8,166 (+55.9%), from €14,608 to €22,774
- Other operating charges +€5,348
up €5,348 (+231%), from €2,320 to €7,668
- Financial charges +€3,582
up €3,582 (+157%), from €2,284 to €5,866
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €314,581 | €333,506 | +€18,925 | +6.0% |
| Fixed assets | 21/28 | €104,508 | €86,996 | -€17,512 | -16.8% |
| Tangible fixed assets | 22/27 | €104,406 | €86,893 | -€17,512 | -16.8% |
| Plant, machinery and equipment | 23 | €12,339 | €6,169 | -€6,169 | -50.0% |
| Furniture and vehicles | 24 | €47,622 | €41,835 | -€5,787 | -12.2% |
| Other tangible fixed assets | 26 | €44,445 | €38,889 | -€5,556 | -12.5% |
| Financial fixed assets | 28 | €103 | €103 | = | 0.0% |
| Current assets | 29/58 | €210,072 | €246,510 | +€36,438 | +17.3% |
| Stocks and contracts in progress | 3 | €41,293 | €37,852 | -€3,441 | -8.3% |
| Stocks | 30/36 | €41,293 | €37,852 | -€3,441 | -8.3% |
| Amounts receivable within one year | 40/41 | €108,877 | €62,529 | -€46,347 | -42.6% |
| Trade receivables | 40 | €101,704 | €52,638 | -€49,066 | -48.2% |
| Other amounts receivable | 41 | €7,172 | €9,891 | +€2,719 | +37.9% |
| Cash at bank and in hand | 54/58 | €50,102 | €118,596 | +€68,494 | +137% |
| Deferred charges and accrued income | 490/1 | €9,801 | €27,533 | +€17,732 | +181% |
| Total equity and liabilities | 10/49 | €314,581 | €333,506 | +€18,925 | +6.0% |
| Equity | 10/15 | €99,166 | €103,339 | +€4,173 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,660 | €54,660 | +€4,000 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,800 | €52,800 | +€4,000 | +8.2% |
| Profit (loss) carried forward | 14 | €29,906 | €30,079 | +€173 | +0.6% |
| Amounts payable | 17/49 | €215,415 | €230,167 | +€14,752 | +6.8% |
| Amounts payable after more than one year | 17 | €43,688 | €28,253 | -€15,435 | -35.3% |
| Financial debts | 170/4 | €43,688 | €28,253 | -€15,435 | -35.3% |
| Amounts payable within one year | 42/48 | €165,159 | €197,113 | +€31,954 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €30,238 | €15,435 | -€14,803 | -49.0% |
| Trade debts | 44 | €88,455 | €117,076 | +€28,621 | +32.4% |
| Suppliers | 440/4 | €88,455 | €117,076 | +€28,621 | +32.4% |
| Taxes, remuneration and social security | 45 | €18,494 | €39,153 | +€20,659 | +112% |
| Taxes | 450/3 | €11,131 | €27,999 | +€16,868 | +152% |
| Remuneration and social security | 454/9 | €7,363 | €11,154 | +€3,791 | +51.5% |
| Other amounts payable | 47/48 | €27,972 | €25,449 | -€2,523 | -9.0% |
| Accrued charges and deferred income | 492/3 | €6,568 | €4,801 | -€1,767 | -26.9% |
| Remuneration, social security and pensions | 62 | €200,237 | €165,145 | -€35,092 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,608 | €22,774 | +€8,166 | +55.9% |
| Other operating charges | 640/8 | €2,320 | €7,668 | +€5,348 | +231% |
| Gross operating margin | 9900 | €226,890 | €209,933 | -€16,957 | -7.5% |
| Operating profit (loss) | 9901 | €9,725 | €14,346 | +€4,621 | +47.5% |
| Financial income | 75/76B | €126 | €545 | +€419 | +332% |
| Recurring financial income | 75 | €126 | €545 | +€419 | +332% |
| Financial charges | 65/66B | €2,284 | €5,866 | +€3,582 | +157% |
| Recurring financial charges | 65 | €2,284 | €5,866 | +€3,582 | +157% |
| Profit (loss) for the period before taxes | 9903 | €7,566 | €9,024 | +€1,458 | +19.3% |
| Income taxes | 67/77 | €3,238 | €4,851 | +€1,613 | +49.8% |
| Profit (loss) for the period | 9904 | €4,328 | €4,173 | -€155 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,328 | €4,173 | -€155 | -3.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.