ZONINVEST: 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.
ZONINVEST
Largest movements
- Tangible fixed assets -€47,197
down €47,197 (-5.8%), from €812,539 to €765,342
- Cash +€14,874
up €14,874 (+177%), from €8,419 to €23,293
mainly Depreciation (+€51,453) and Net result for the year (+€17,561)
- Debts after one year -€41,618
down €41,618 (-16.2%), from €256,616 to €214,998
of which Financial debts: -€41,618
- Reserves +€38,571
up €38,571 (+11.9%), from €323,316 to €361,887
of which Distributable reserves: +€52,684
- Profit (loss) carried forward -€21,010
down €21,010 (-100%), from €21,010 to €0
- Current portion of long-term debt -€15,361
down €15,361 (-27.0%), from €56,979 to €41,618
- Gross operating margin +€9,350
up €9,350 (+10.7%), from €87,420 to €96,771
- Taxes +€7,894
up €7,894 (+106%), from €7,424 to €15,318
- Depreciation -€7,173
down €7,173 (-12.2%), from €58,626 to €51,453
- Financial charges -€1,759
down €1,759 (-19.9%), from €8,824 to €7,065
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 | €821,690 | €790,031 | -€31,659 | -3.9% |
| Fixed assets | 21/28 | €812,539 | €765,342 | -€47,197 | -5.8% |
| Tangible fixed assets | 22/27 | €812,539 | €765,342 | -€47,197 | -5.8% |
| Land and buildings | 22 | €812,539 | €765,342 | -€47,197 | -5.8% |
| Current assets | 29/58 | €9,151 | €24,689 | +€15,538 | +170% |
| Cash at bank and in hand | 54/58 | €8,419 | €23,293 | +€14,874 | +177% |
| Deferred charges and accrued income | 490/1 | €732 | €1,396 | +€664 | +90.7% |
| Total equity and liabilities | 10/49 | €821,690 | €790,031 | -€31,659 | -3.9% |
| Equity | 10/15 | €423,826 | €441,387 | +€17,561 | +4.1% |
| Contributions | 10/11 | €79,500 | €79,500 | = | 0.0% |
| Reserves | 13 | €323,316 | €361,887 | +€38,571 | +11.9% |
| Tax-exempt reserves | 132 | €192,959 | €178,846 | -€14,113 | -7.3% |
| Distributable reserves | 133 | €130,357 | €183,041 | +€52,684 | +40.4% |
| Profit (loss) carried forward | 14 | €21,010 | €0 | -€21,010 | -100% |
| Provisions and deferred taxes | 16 | €65,738 | €61,033 | -€4,704 | -7.2% |
| Deferred taxes | 168 | €65,738 | €61,033 | -€4,704 | -7.2% |
| Amounts payable | 17/49 | €332,126 | €287,610 | -€44,516 | -13.4% |
| Amounts payable after more than one year | 17 | €256,616 | €214,998 | -€41,618 | -16.2% |
| Financial debts | 170/4 | €254,711 | €213,093 | -€41,618 | -16.3% |
| Other amounts payable | 178/9 | €1,905 | €1,905 | = | 0.0% |
| Amounts payable within one year | 42/48 | €73,457 | €69,958 | -€3,499 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €56,979 | €41,618 | -€15,361 | -27.0% |
| Financial debts | 43 | - | €6,647 | +€6,647 | |
| Credit institutions | 430/8 | - | €6,647 | +€6,647 | |
| Trade debts | 44 | €967 | €3,339 | +€2,372 | +245% |
| Suppliers | 440/4 | €967 | €3,339 | +€2,372 | +245% |
| Taxes, remuneration and social security | 45 | €5,498 | €8,318 | +€2,820 | +51.3% |
| Taxes | 450/3 | €5,498 | €8,318 | +€2,820 | +51.3% |
| Other amounts payable | 47/48 | €10,012 | €10,037 | +€24 | +0.2% |
| Accrued charges and deferred income | 492/3 | €2,054 | €2,654 | +€600 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,626 | €51,453 | -€7,173 | -12.2% |
| Other operating charges | 640/8 | €10,575 | €10,077 | -€497 | -4.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,420 | €96,771 | +€9,350 | +10.7% |
| Operating profit (loss) | 9901 | €18,220 | €35,241 | +€17,021 | +93.4% |
| Financial income | 75/76B | €221 | €0 | -€221 | -100% |
| Recurring financial income | 75 | €221 | €0 | -€221 | -100% |
| Financial charges | 65/66B | €8,824 | €7,065 | -€1,759 | -19.9% |
| Recurring financial charges | 65 | €8,824 | €7,065 | -€1,759 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €9,616 | €28,175 | +€18,559 | +193% |
| Transfer from deferred taxes | 780 | €4,704 | €4,704 | = | 0.0% |
| Income taxes | 67/77 | €7,424 | €15,318 | +€7,894 | +106% |
| Profit (loss) for the period | 9904 | €6,897 | €17,561 | +€10,664 | +155% |
| Transfer from tax-exempt reserves | 789 | €14,113 | €14,113 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,010 | €31,674 | +€10,664 | +50.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.