ZIZOE: 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.
ZIZOE
Largest movements
- Tangible fixed assets +€299,322
up €299,322 (+71.6%), from €418,260 to €717,582
of which Land and buildings: +€301,322
- Receivables within one year +€45,525
up €45,525 (+3,175%), from €1,434 to €46,959
of which Trade receivables: +€43,534
- Cash +€41,293
up €41,293 (+128%), from €32,174 to €73,467
mainly Debts after one year (+€327,478) and Depreciation (+€50,552)
- Debts after one year +€327,478
up €327,478 (+179%), from €182,644 to €510,121
of which Financial debts: +€267,370
- Trade debts +€43,886
up €43,886 (+2,365%), from €1,856 to €45,742
- Current portion of long-term debt +€35,293
up €35,293 (+459%), from €7,691 to €42,984
- Reserves -€15,887
down €15,887 (-5.4%), from €296,236 to €280,349
- Depreciation +€33,748
up €33,748 (+201%), from €16,803 to €50,552
- Other operating charges -€32,709
down €32,709 (-82.4%), from €39,712 to €7,003
- Gross operating margin -€9,393
down €9,393 (-6.6%), from €141,558 to €132,165
- Financial charges +€9,136
up €9,136 (+95.7%), from €9,548 to €18,684
- Taxes -€4,947
down €4,947 (-22.6%), from €21,867 to €16,920
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 | €519,478 | €905,268 | +€385,790 | +74.3% |
| Fixed assets | 21/28 | €418,341 | €717,663 | +€299,322 | +71.5% |
| Tangible fixed assets | 22/27 | €418,260 | €717,582 | +€299,322 | +71.6% |
| Land and buildings | 22 | €412,880 | €714,202 | +€301,322 | +73.0% |
| Plant, machinery and equipment | 23 | €572 | €101 | -€472 | -82.4% |
| Furniture and vehicles | 24 | €1,095 | €590 | -€505 | -46.1% |
| Other tangible fixed assets | 26 | €3,713 | €2,688 | -€1,024 | -27.6% |
| Financial fixed assets | 28 | €81 | €81 | = | 0.0% |
| Current assets | 29/58 | €101,137 | €187,606 | +€86,468 | +85.5% |
| Amounts receivable within one year | 40/41 | €1,434 | €46,959 | +€45,525 | +3,175% |
| Trade receivables | 40 | €1,359 | €44,892 | +€43,534 | +3,204% |
| Other amounts receivable | 41 | €75 | €2,067 | +€1,991 | +2,650% |
| Current investments | 50/53 | €64,254 | €64,254 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,174 | €73,467 | +€41,293 | +128% |
| Deferred charges and accrued income | 490/1 | €3,276 | €2,926 | -€350 | -10.7% |
| Total equity and liabilities | 10/49 | €519,478 | €905,268 | +€385,790 | +74.3% |
| Equity | 10/15 | €302,436 | €286,549 | -€15,887 | -5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €296,236 | €280,349 | -€15,887 | -5.4% |
| Distributable reserves | 133 | €296,236 | €280,349 | -€15,887 | -5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,042 | €618,719 | +€401,677 | +185% |
| Amounts payable after more than one year | 17 | €182,644 | €510,121 | +€327,478 | +179% |
| Financial debts | 170/4 | €136,799 | €404,169 | +€267,370 | +195% |
| Other amounts payable | 178/9 | €45,845 | €105,953 | +€60,108 | +131% |
| Amounts payable within one year | 42/48 | €34,398 | €108,598 | +€74,200 | +216% |
| Current portion of amounts payable after more than one year | 42 | €7,691 | €42,984 | +€35,293 | +459% |
| Trade debts | 44 | €1,856 | €45,742 | +€43,886 | +2,365% |
| Suppliers | 440/4 | €1,856 | €45,742 | +€43,886 | +2,365% |
| Taxes, remuneration and social security | 45 | €23,301 | €18,322 | -€4,979 | -21.4% |
| Taxes | 450/3 | €23,301 | €18,322 | -€4,979 | -21.4% |
| Other amounts payable | 47/48 | €1,550 | €1,550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,803 | €50,552 | +€33,748 | +201% |
| Other operating charges | 640/8 | €39,712 | €7,003 | -€32,709 | -82.4% |
| Gross operating margin | 9900 | €141,558 | €132,165 | -€9,393 | -6.6% |
| Operating profit (loss) | 9901 | €85,042 | €74,610 | -€10,432 | -12.3% |
| Financial income | 75/76B | €0 | €106 | +€106 | +1,064,100% |
| Recurring financial income | 75 | €0 | €106 | +€106 | +1,064,100% |
| Financial charges | 65/66B | €9,548 | €18,684 | +€9,136 | +95.7% |
| Recurring financial charges | 65 | €9,548 | €18,684 | +€9,136 | +95.7% |
| Profit (loss) for the period before taxes | 9903 | €75,495 | €56,033 | -€19,462 | -25.8% |
| Income taxes | 67/77 | €21,867 | €16,920 | -€4,947 | -22.6% |
| Profit (loss) for the period | 9904 | €53,628 | €39,113 | -€14,515 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,628 | €39,113 | -€14,515 | -27.1% |
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 16 October 2026 via checked.be.