ZONLICHT: 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.
ZONLICHT
Largest movements
- Receivables within one year +€177,638
up €177,638 (+47.1%), from €376,910 to €554,547
of which Other amounts receivable: +€163,855
- Tangible fixed assets -€24,606
down €24,606 (-40.1%), from €61,340 to €36,733
of which Land and buildings: -€22,020
- Cash +€17,939
up €17,939 (+25.1%), from €71,575 to €89,514
mainly Net result for the year (+€104,857) and Tax, wage and social debts (+€87,223)
- Reserves +€300,277
up €300,277 (+295%), from €101,683 to €401,961
of which Distributable reserves: +€302,137
- Profit (loss) carried forward -€236,948
down €236,948 (-71.2%), from €332,600 to €95,652
- Tax, wage and social debts +€87,223
up €87,223 (+258%), from €33,850 to €121,073
of which Taxes: +€86,751
- Trade debts +€15,415
up €15,415 (+868%), from €1,775 to €17,191
- Current portion of long-term debt +€12,261
up €12,261 (+154%), from €7,966 to €20,227
- Financial income -€165,990
down €165,990 (-99.8%), from €166,373 to €383
of which Non-recurring financial income: -€165,623
- Gross operating margin +€28,810
up €28,810 (+13.6%), from €211,378 to €240,188
- Taxes +€21,730
up €21,730 (+30.7%), from €70,702 to €92,432
- Other operating charges -€13,568
down €13,568 (-75.1%), from €18,062 to €4,494
- Financial charges +€2,423
up €2,423 (+86.5%), from €2,803 to €5,226
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 | €519,329 | €690,408 | +€171,079 | +32.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €61,440 | €36,833 | -€24,606 | -40.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €61,340 | €36,733 | -€24,606 | -40.1% |
| Land and buildings | 22 | €54,918 | €32,899 | -€22,020 | -40.1% |
| Plant, machinery and equipment | 23 | €4,336 | €2,542 | -€1,794 | -41.4% |
| Furniture and vehicles | 24 | €2,086 | €1,293 | -€793 | -38.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €457,889 | €653,575 | +€195,686 | +42.7% |
| Stocks and contracts in progress | 3 | €8,720 | €7,531 | -€1,190 | -13.6% |
| Stocks | 30/36 | €8,720 | €7,531 | -€1,190 | -13.6% |
| Amounts receivable within one year | 40/41 | €376,910 | €554,547 | +€177,638 | +47.1% |
| Trade receivables | 40 | - | €13,783 | +€13,783 | |
| Other amounts receivable | 41 | €376,910 | €540,765 | +€163,855 | +43.5% |
| Cash at bank and in hand | 54/58 | €71,575 | €89,514 | +€17,939 | +25.1% |
| Deferred charges and accrued income | 490/1 | €684 | €1,983 | +€1,299 | +190% |
| Total equity and liabilities | 10/49 | €519,329 | €690,408 | +€171,079 | +32.9% |
| Equity | 10/15 | €452,883 | €516,212 | +€63,329 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,683 | €401,961 | +€300,277 | +295% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €99,823 | €401,961 | +€302,137 | +303% |
| Profit (loss) carried forward | 14 | €332,600 | €95,652 | -€236,948 | -71.2% |
| Amounts payable | 17/49 | €66,445 | €174,196 | +€107,750 | +162% |
| Amounts payable after more than one year | 17 | €7,854 | €0 | -€7,854 | -100% |
| Financial debts | 170/4 | €7,854 | €0 | -€7,854 | -100% |
| Amounts payable within one year | 42/48 | €58,592 | €173,491 | +€114,899 | +196% |
| Current portion of amounts payable after more than one year | 42 | €7,966 | €20,227 | +€12,261 | +154% |
| Trade debts | 44 | €1,775 | €17,191 | +€15,415 | +868% |
| Suppliers | 440/4 | €1,775 | €17,191 | +€15,415 | +868% |
| Taxes, remuneration and social security | 45 | €33,850 | €121,073 | +€87,223 | +258% |
| Taxes | 450/3 | €33,850 | €120,602 | +€86,751 | +256% |
| Remuneration and social security | 454/9 | - | €472 | +€472 | |
| Other amounts payable | 47/48 | €15,000 | €15,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €705 | +€705 | |
| Remuneration, social security and pensions | 62 | €9,358 | €8,956 | -€402 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,879 | €24,606 | -€273 | -1.1% |
| Other operating charges | 640/8 | €18,062 | €4,494 | -€13,568 | -75.1% |
| Gross operating margin | 9900 | €211,378 | €240,188 | +€28,810 | +13.6% |
| Operating profit (loss) | 9901 | €159,080 | €202,132 | +€43,052 | +27.1% |
| Financial income | 75/76B | €166,373 | €383 | -€165,990 | -99.8% |
| Recurring financial income | 75 | €749 | €383 | -€366 | -48.9% |
| Non-recurring financial income | 76B | €165,623 | €0 | -€165,623 | -100% |
| Financial charges | 65/66B | €2,803 | €5,226 | +€2,423 | +86.5% |
| Recurring financial charges | 65 | €2,803 | €5,226 | +€2,423 | +86.5% |
| Profit (loss) for the period before taxes | 9903 | €322,650 | €197,290 | -€125,361 | -38.9% |
| Income taxes | 67/77 | €70,702 | €92,432 | +€21,730 | +30.7% |
| Profit (loss) for the period | 9904 | €251,948 | €104,857 | -€147,091 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €251,948 | €104,857 | -€147,091 | -58.4% |
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 19 October 2026 via checked.be.