ZORI: 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.
ZORI
Largest movements
- Tangible fixed assets +€27,201
up €27,201 (+2022.8%), from €1,345 to €28,546
of which Leasing and similar rights: +€27,337
- Intangible fixed assets -€9,500
down €9,500 (-25.0%), from €38,000 to €28,500
- Receivables within one year -€962
down €962 (-6.9%), from €13,965 to €13,004
of which Trade receivables: -€6,348
- Debts after one year +€16,540
new in 2025: €16,540
- Short-term financial debts +€16,500
up €16,500 (+412.5%), from €4,000 to €20,500
- Profit (loss) carried forward -€14,890
down €14,890 (-53.3%), from -€27,933 to -€42,823
- Tax, wage and social debts -€4,989
down €4,989 (-93.4%), from €5,340 to €351
- Current portion of long-term debt +€3,968
new in 2025: €3,968
- Gross operating margin -€7,345
down €7,345 (-94.1%), from €7,803 to €459
- Depreciation +€2,328
up €2,328 (+24.5%), from €9,509 to €11,837
- Other operating charges +€876
up €876 (+141.7%), from €618 to €1,495
- Financial charges -€871
down €871 (-29.7%), from €2,935 to €2,064
- Financial income -€311
down €311 (-59.6%), from €522 to €211
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 | €55,059 | €71,707 | +€16,648 | +30.2% |
| Fixed assets | 21/28 | €39,345 | €57,046 | +€17,701 | +45.0% |
| Intangible fixed assets | 21 | €38,000 | €28,500 | -€9,500 | -25.0% |
| Tangible fixed assets | 22/27 | €1,345 | €28,546 | +€27,201 | +2022.8% |
| Furniture and vehicles | 24 | €1,345 | €1,209 | -€135 | -10.1% |
| Leasing and similar rights | 25 | - | €27,337 | +€27,337 | |
| Current assets | 29/58 | €15,714 | €14,661 | -€1,053 | -6.7% |
| Amounts receivable within one year | 40/41 | €13,965 | €13,004 | -€962 | -6.9% |
| Trade receivables | 40 | €13,816 | €7,468 | -€6,348 | -45.9% |
| Other amounts receivable | 41 | €150 | €5,535 | +€5,386 | +3602.1% |
| Cash at bank and in hand | 54/58 | €1,334 | €699 | -€635 | -47.6% |
| Deferred charges and accrued income | 490/1 | €415 | €958 | +€543 | +130.8% |
| Total equity and liabilities | 10/49 | €55,059 | €71,707 | +€16,648 | +30.2% |
| Equity | 10/15 | €34,664 | €19,774 | -€14,890 | -43.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,997 | €43,997 | = | 0.0% |
| Distributable reserves | 133 | €43,997 | €43,997 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,933 | -€42,823 | -€14,890 | -53.3% |
| Amounts payable | 17/49 | €20,395 | €51,934 | +€31,538 | +154.6% |
| Amounts payable after more than one year | 17 | - | €16,540 | +€16,540 | |
| Financial debts | 170/4 | - | €16,540 | +€16,540 | |
| Amounts payable within one year | 42/48 | €20,390 | €35,393 | +€15,003 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,968 | +€3,968 | |
| Financial debts | 43 | €4,000 | €20,500 | +€16,500 | +412.5% |
| Credit institutions | 430/8 | €4,000 | €20,500 | +€16,500 | +412.5% |
| Trade debts | 44 | €11,051 | €10,575 | -€476 | -4.3% |
| Suppliers | 440/4 | €11,051 | €10,575 | -€476 | -4.3% |
| Taxes, remuneration and social security | 45 | €5,340 | €351 | -€4,989 | -93.4% |
| Taxes | 450/3 | €5,340 | €351 | -€4,989 | -93.4% |
| Accrued charges and deferred income | 492/3 | €5 | - | -€5 | |
| Non-recurring operating income | 76A | - | €30,007 | +€30,007 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,509 | €11,837 | +€2,328 | +24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€150 | - | +€150 | |
| Other operating charges | 640/8 | €618 | €1,495 | +€876 | +141.7% |
| Gross operating margin | 9900 | €7,803 | €459 | -€7,345 | -94.1% |
| Operating profit (loss) | 9901 | -€2,174 | -€12,873 | -€10,699 | -492.2% |
| Financial income | 75/76B | €522 | €211 | -€311 | -59.6% |
| Recurring financial income | 75 | €522 | €211 | -€311 | -59.6% |
| Financial charges | 65/66B | €2,935 | €2,064 | -€871 | -29.7% |
| Recurring financial charges | 65 | €2,935 | €2,064 | -€871 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,587 | -€14,725 | -€10,138 | -221.0% |
| Income taxes | 67/77 | €186 | €165 | -€21 | -11.4% |
| Profit (loss) for the period | 9904 | -€4,773 | -€14,890 | -€10,117 | -212.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,773 | -€14,890 | -€10,117 | -212.0% |
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 11 October 2026 via checked.be.