ZIZO: what changed
Two fiscal 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.
ZIZO
Largest movements
- Current investments +€305,095
up €305,095 (+167.1%), from €182,529 to €487,624
- Receivables within one year -€89,287
down €89,287 (-64.5%), from €138,332 to €49,045
of which Other amounts receivable: -€72,369
- Tangible fixed assets -€54,998
down €54,998 (-5.6%), from €986,417 to €931,419
of which Land and buildings: -€34,589
- Stocks and contracts +€41,548
up €41,548 (+31.3%), from €132,943 to €174,491
- Deferred charges and accrued income +€22,766
up €22,766 (+712.5%), from €3,195 to €25,961
- Reserves +€223,329
up €223,329 (+23.3%), from €960,515 to €1.2m
of which Distributable reserves: +€244,325
- Debts after one year -€22,610
down €22,610 (-12.7%), from €178,517 to €155,907
- Gross operating margin +€92,274
up €92,274 (+27.0%), from €341,695 to €433,970
- Taxes +€47,372
up €47,372 (+69.2%), from €68,408 to €115,779
- Staff costs -€40,539
down €40,539 (-99.3%), from €40,816 to €276
- Depreciation -€9,505
down €9,505 (-10.3%), from €92,408 to €82,902
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.
Cash bridge derived
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 | €1,460,591 | €1,673,363 | +€212,772 | +14.6% |
| Fixed assets | 21/28 | €991,378 | €931,419 | -€59,959 | -6.0% |
| Intangible fixed assets | 21 | €4,911 | - | -€4,911 | |
| Tangible fixed assets | 22/27 | €986,417 | €931,419 | -€54,998 | -5.6% |
| Land and buildings | 22 | €772,045 | €737,456 | -€34,589 | -4.5% |
| Plant, machinery and equipment | 23 | €158,375 | €158,056 | -€320 | -0.2% |
| Furniture and vehicles | 24 | €55,997 | €35,907 | -€20,089 | -35.9% |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €469,213 | €741,944 | +€272,731 | +58.1% |
| Stocks and contracts in progress | 3 | €132,943 | €174,491 | +€41,548 | +31.3% |
| Stocks | 30/36 | €132,943 | €174,491 | +€41,548 | +31.3% |
| Amounts receivable within one year | 40/41 | €138,332 | €49,045 | -€89,287 | -64.5% |
| Trade receivables | 40 | €29,245 | €12,328 | -€16,918 | -57.8% |
| Other amounts receivable | 41 | €109,086 | €36,718 | -€72,369 | -66.3% |
| Current investments | 50/53 | €182,529 | €487,624 | +€305,095 | +167.1% |
| Cash at bank and in hand | 54/58 | €12,213 | €4,823 | -€7,391 | -60.5% |
| Deferred charges and accrued income | 490/1 | €3,195 | €25,961 | +€22,766 | +712.5% |
| Total equity and liabilities | 10/49 | €1,460,591 | €1,673,363 | +€212,772 | +14.6% |
| Equity | 10/15 | €1,128,515 | €1,351,844 | +€223,329 | +19.8% |
| Contributions | 10/11 | €38,680 | €38,680 | = | 0.0% |
| Reserves | 13 | €960,515 | €1,183,843 | +€223,329 | +23.3% |
| Tax-exempt reserves | 132 | €172,540 | €151,543 | -€20,996 | -12.2% |
| Distributable reserves | 133 | €787,975 | €1,032,300 | +€244,325 | +31.0% |
| Profit (loss) carried forward | 14 | €129,321 | €129,321 | = | 0.0% |
| Provisions and deferred taxes | 16 | €57,470 | €50,321 | -€7,149 | -12.4% |
| Deferred taxes | 168 | €57,470 | €50,321 | -€7,149 | -12.4% |
| Amounts payable | 17/49 | €274,605 | €271,198 | -€3,408 | -1.2% |
| Amounts payable after more than one year | 17 | €178,517 | €155,907 | -€22,610 | -12.7% |
| Financial debts | 170/4 | €178,517 | €155,907 | -€22,610 | -12.7% |
| Amounts payable within one year | 42/48 | €95,460 | €113,407 | +€17,947 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €22,045 | €22,610 | +€565 | +2.6% |
| Trade debts | 44 | €11,566 | €27,055 | +€15,490 | +133.9% |
| Suppliers | 440/4 | €11,566 | €27,055 | +€15,490 | +133.9% |
| Taxes, remuneration and social security | 45 | €53,654 | €48,838 | -€4,816 | -9.0% |
| Taxes | 450/3 | €45,070 | €48,838 | +€3,769 | +8.4% |
| Remuneration and social security | 454/9 | €8,585 | - | -€8,585 | |
| Other amounts payable | 47/48 | €8,195 | €14,903 | +€6,708 | +81.9% |
| Accrued charges and deferred income | 492/3 | €628 | €1,883 | +€1,255 | +199.8% |
| Non-recurring operating income | 76A | - | €204,625 | +€204,625 | |
| Remuneration, social security and pensions | 62 | €40,816 | €276 | -€40,539 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,408 | €82,902 | -€9,505 | -10.3% |
| Other operating charges | 640/8 | €9,514 | €13,340 | +€3,825 | +40.2% |
| Gross operating margin | 9900 | €341,695 | €433,970 | +€92,274 | +27.0% |
| Operating profit (loss) | 9901 | €198,958 | €337,451 | +€138,493 | +69.6% |
| Financial income | 75/76B | €59 | €1,096 | +€1,037 | +1765.3% |
| Recurring financial income | 75 | €59 | €1,096 | +€1,037 | +1765.3% |
| Financial charges | 65/66B | €10,875 | €6,588 | -€4,287 | -39.4% |
| Recurring financial charges | 65 | €10,875 | €6,588 | -€4,287 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €188,142 | €331,959 | +€143,817 | +76.4% |
| Transfer from deferred taxes | 780 | €6,813 | €7,149 | +€336 | +4.9% |
| Income taxes | 67/77 | €68,408 | €115,779 | +€47,372 | +69.2% |
| Profit (loss) for the period | 9904 | €126,547 | €223,329 | +€96,782 | +76.5% |
| Transfer from tax-exempt reserves | 789 | €47,744 | €20,996 | -€26,747 | -56.0% |
| Transfer to tax-exempt reserves | 689 | €27,756 | - | -€27,756 | |
| Profit (loss) for the period to be appropriated | 9905 | €146,535 | €244,325 | +€97,791 | +66.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.