ZM MALIK: 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.
ZM MALIK
Largest movements
- Stocks and contracts +€21,531
up €21,531 (+48.1%), from €44,783 to €66,313
- Receivables within one year +€7,871
up €7,871 (+220.7%), from €3,567 to €11,438
of which Trade receivables: +€8,135
- Tangible fixed assets -€7,032
down €7,032 (-24.3%), from €28,879 to €21,847
- Other debts +€23,716
up €23,716 (+61.3%), from €38,674 to €62,389
- Debts after one year -€6,305
down €6,305 (-30.1%), from €20,952 to €14,647
- Profit (loss) carried forward +€2,746
up €2,746 (+56.4%), from €4,870 to €7,617
- Tax, wage and social debts +€1,280
up €1,280 (+1777.6%), from €72 to €1,352
- Trade debts +€1,162
up €1,162 (+33.4%), from €3,484 to €4,647
- Gross operating margin -€7,208
down €7,208 (-35.9%), from €20,092 to €12,884
- Other operating charges -€3,983
down €3,983 (-86.4%), from €4,607 to €625
- Taxes +€1,280
new in 2025: €1,280
- Depreciation +€751
up €751 (+12.0%), from €6,280 to €7,032
- Financial charges -€691
down €691 (-36.5%), from €1,893 to €1,202
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 | €77,988 | €100,857 | +€22,869 | +29.3% |
| Fixed assets | 21/28 | €28,879 | €21,847 | -€7,032 | -24.3% |
| Tangible fixed assets | 22/27 | €28,879 | €21,847 | -€7,032 | -24.3% |
| Furniture and vehicles | 24 | €28,879 | €21,847 | -€7,032 | -24.3% |
| Current assets | 29/58 | €49,109 | €79,010 | +€29,901 | +60.9% |
| Stocks and contracts in progress | 3 | €44,783 | €66,313 | +€21,531 | +48.1% |
| Stocks | 30/36 | €44,783 | €66,313 | +€21,531 | +48.1% |
| Amounts receivable within one year | 40/41 | €3,567 | €11,438 | +€7,871 | +220.7% |
| Trade receivables | 40 | €2,241 | €10,376 | +€8,135 | +362.9% |
| Other amounts receivable | 41 | €1,326 | €1,062 | -€263 | -19.9% |
| Cash at bank and in hand | 54/58 | €759 | €1,258 | +€499 | +65.7% |
| Total equity and liabilities | 10/49 | €77,988 | €100,857 | +€22,869 | +29.3% |
| Equity | 10/15 | €8,770 | €11,517 | +€2,746 | +31.3% |
| Contributions | 10/11 | €3,900 | €3,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,870 | €7,617 | +€2,746 | +56.4% |
| Amounts payable | 17/49 | €69,217 | €89,340 | +€20,123 | +29.1% |
| Amounts payable after more than one year | 17 | €20,952 | €14,647 | -€6,305 | -30.1% |
| Financial debts | 170/4 | €20,952 | €14,647 | -€6,305 | -30.1% |
| Amounts payable within one year | 42/48 | €48,265 | €74,693 | +€26,428 | +54.8% |
| Current portion of amounts payable after more than one year | 42 | €6,035 | €6,305 | +€270 | +4.5% |
| Trade debts | 44 | €3,484 | €4,647 | +€1,162 | +33.4% |
| Suppliers | 440/4 | €3,484 | €4,647 | +€1,162 | +33.4% |
| Taxes, remuneration and social security | 45 | €72 | €1,352 | +€1,280 | +1777.6% |
| Taxes | 450/3 | €72 | €1,352 | +€1,280 | +1777.6% |
| Other amounts payable | 47/48 | €38,674 | €62,389 | +€23,716 | +61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,280 | €7,032 | +€751 | +12.0% |
| Other operating charges | 640/8 | €4,607 | €625 | -€3,983 | -86.4% |
| Gross operating margin | 9900 | €20,092 | €12,884 | -€7,208 | -35.9% |
| Operating profit (loss) | 9901 | €9,204 | €5,228 | -€3,977 | -43.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,893 | €1,202 | -€691 | -36.5% |
| Recurring financial charges | 65 | €1,893 | €1,202 | -€691 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €7,311 | €4,026 | -€3,285 | -44.9% |
| Income taxes | 67/77 | - | €1,280 | +€1,280 | |
| Profit (loss) for the period | 9904 | €7,311 | €2,746 | -€4,565 | -62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,311 | €2,746 | -€4,565 | -62.4% |
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 8 October 2026 via checked.be.