Zoli: 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.
Zoli
Largest movements
- Financial fixed assets +€60,000
new in 2025: €60,000
- Tangible fixed assets -€13,686
down €13,686 (-20.6%), from €66,562 to €52,876
of which Furniture and vehicles: -€11,677
- Cash -€5,835
down €5,835 (-22.6%), from €25,828 to €19,992
mainly Investment in fixed assets (net) (-€60,899) and Debts after one year (-€10,375)
- Receivables within one year +€3,073
up €3,073 (+23.0%), from €13,357 to €16,431
of which Trade receivables: +€3,167
- Reserves +€40,110
up €40,110 (+84.0%), from €47,734 to €87,844
- Debts after one year -€10,375
down €10,375 (-38.7%), from €26,776 to €16,402
- Tax, wage and social debts +€9,298
up €9,298 (+72.5%), from €12,833 to €22,130
- Other debts +€3,904
up €3,904 (+65.1%), from €5,994 to €9,898
- Gross operating margin +€16,215
up €16,215 (+29.0%), from €55,861 to €72,076
- Taxes +€7,128
up €7,128 (+95.0%), from €7,501 to €14,629
- Depreciation -€3,229
down €3,229 (-18.1%), from €17,813 to €14,585
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 | €108,568 | €152,116 | +€43,548 | +40.1% |
| Fixed assets | 21/28 | €66,562 | €112,876 | +€46,314 | +69.6% |
| Tangible fixed assets | 22/27 | €66,562 | €52,876 | -€13,686 | -20.6% |
| Land and buildings | 22 | €19,410 | €18,680 | -€730 | -3.8% |
| Plant, machinery and equipment | 23 | €5,305 | €4,027 | -€1,278 | -24.1% |
| Furniture and vehicles | 24 | €41,846 | €30,169 | -€11,677 | -27.9% |
| Financial fixed assets | 28 | - | €60,000 | +€60,000 | |
| Current assets | 29/58 | €42,007 | €39,240 | -€2,766 | -6.6% |
| Amounts receivable within one year | 40/41 | €13,357 | €16,431 | +€3,073 | +23.0% |
| Trade receivables | 40 | €12,976 | €16,143 | +€3,167 | +24.4% |
| Other amounts receivable | 41 | €381 | €287 | -€94 | -24.6% |
| Cash at bank and in hand | 54/58 | €25,828 | €19,992 | -€5,835 | -22.6% |
| Deferred charges and accrued income | 490/1 | €2,822 | €2,817 | -€5 | -0.2% |
| Total equity and liabilities | 10/49 | €108,568 | €152,116 | +€43,548 | +40.1% |
| Equity | 10/15 | €50,734 | €90,844 | +€40,110 | +79.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €47,734 | €87,844 | +€40,110 | +84.0% |
| Distributable reserves | 133 | €47,734 | €87,844 | +€40,110 | +84.0% |
| Amounts payable | 17/49 | €57,834 | €61,272 | +€3,438 | +5.9% |
| Amounts payable after more than one year | 17 | €26,776 | €16,402 | -€10,375 | -38.7% |
| Financial debts | 170/4 | €26,776 | €16,402 | -€10,375 | -38.7% |
| Amounts payable within one year | 42/48 | €31,058 | €44,871 | +€13,813 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €8,277 | €9,600 | +€1,323 | +16.0% |
| Trade debts | 44 | €3,954 | €3,242 | -€711 | -18.0% |
| Suppliers | 440/4 | €3,954 | €3,242 | -€711 | -18.0% |
| Taxes, remuneration and social security | 45 | €12,833 | €22,130 | +€9,298 | +72.5% |
| Taxes | 450/3 | €12,833 | €22,130 | +€9,298 | +72.5% |
| Other amounts payable | 47/48 | €5,994 | €9,898 | +€3,904 | +65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,813 | €14,585 | -€3,229 | -18.1% |
| Other operating charges | 640/8 | €624 | €747 | +€123 | +19.7% |
| Gross operating margin | 9900 | €55,861 | €72,076 | +€16,215 | +29.0% |
| Operating profit (loss) | 9901 | €37,424 | €56,744 | +€19,320 | +51.6% |
| Financial income | 75/76B | €4 | €4 | +€0 | +4.2% |
| Recurring financial income | 75 | €4 | €4 | +€0 | +4.2% |
| Financial charges | 65/66B | €2,513 | €2,010 | -€503 | -20.0% |
| Recurring financial charges | 65 | €2,513 | €2,010 | -€503 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €34,915 | €54,739 | +€19,824 | +56.8% |
| Income taxes | 67/77 | €7,501 | €14,629 | +€7,128 | +95.0% |
| Profit (loss) for the period | 9904 | €27,414 | €40,110 | +€12,696 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,414 | €40,110 | +€12,696 | +46.3% |
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 4 October 2026 via checked.be.