ZORINA: 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.
ZORINA
Largest movements
- Tangible fixed assets +€41,022
up €41,022 (+16.2%), from €253,896 to €294,918
of which Other tangible fixed assets: +€50,609
- Receivables within one year +€15,001
up €15,001 (+307%), from €4,893 to €19,894
of which Trade receivables: +€15,453
- Cash -€4,540
down €4,540 (-19.2%), from €23,616 to €19,075
mainly Investment in fixed assets (net) (-€60,019) and Net result for the year (-€16,790)
- Deferred charges and accrued income -€3,850
down €3,850 (-93.3%), from €4,125 to €275
- Other debts +€51,620
up €51,620 (+669%), from €7,720 to €59,340
- Trade debts +€21,484
up €21,484 (+110%), from €19,612 to €41,096
- Profit (loss) carried forward -€16,790
down €16,790 (-27.1%), from €61,920 to €45,129
- Provisions -€7,500
no longer reported in 2025 (was €7,500)
- Gross operating margin -€20,569
down €20,569 (-20.6%), from €99,755 to €79,186
- Provisions -€7,500
new in 2025: -€7,500
- Other operating charges +€6,902
up €6,902 (+42.3%), from €16,316 to €23,218
- Depreciation +€4,015
up €4,015 (+26.8%), from €14,981 to €18,997
- Taxes -€2,172
no longer reported in 2025 (was €2,172)
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 | €289,653 | €336,125 | +€46,472 | +16.0% |
| Fixed assets | 21/28 | €253,896 | €294,918 | +€41,022 | +16.2% |
| Tangible fixed assets | 22/27 | €253,896 | €294,918 | +€41,022 | +16.2% |
| Land and buildings | 22 | €216,461 | €208,077 | -€8,383 | -3.9% |
| Furniture and vehicles | 24 | €2,569 | €1,365 | -€1,204 | -46.9% |
| Other tangible fixed assets | 26 | €34,866 | €85,475 | +€50,609 | +145% |
| Current assets | 29/58 | €35,757 | €41,207 | +€5,450 | +15.2% |
| Stocks and contracts in progress | 3 | €3,124 | €1,962 | -€1,161 | -37.2% |
| Stocks | 30/36 | €3,124 | €1,962 | -€1,161 | -37.2% |
| Amounts receivable within one year | 40/41 | €4,893 | €19,894 | +€15,001 | +307% |
| Trade receivables | 40 | €180 | €15,633 | +€15,453 | +8,585% |
| Other amounts receivable | 41 | €4,713 | €4,261 | -€452 | -9.6% |
| Cash at bank and in hand | 54/58 | €23,616 | €19,075 | -€4,540 | -19.2% |
| Deferred charges and accrued income | 490/1 | €4,125 | €275 | -€3,850 | -93.3% |
| Total equity and liabilities | 10/49 | €289,653 | €336,125 | +€46,472 | +16.0% |
| Equity | 10/15 | €239,163 | €222,373 | -€16,790 | -7.0% |
| Contributions | 10/11 | €161,131 | €161,131 | = | 0.0% |
| Capital | 10 | €161,131 | €161,131 | = | 0.0% |
| Issued capital | 100 | €161,131 | €161,131 | = | 0.0% |
| Reserves | 13 | €16,113 | €16,113 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,113 | €16,113 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,920 | €45,129 | -€16,790 | -27.1% |
| Provisions and deferred taxes | 16 | €7,500 | - | -€7,500 | |
| Provisions for liabilities and charges | 160/5 | €7,500 | - | -€7,500 | |
| Environmental obligations | 163 | €7,500 | - | -€7,500 | |
| Amounts payable | 17/49 | €42,990 | €113,752 | +€70,762 | +165% |
| Amounts payable after more than one year | 17 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 170/4 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,575 | €108,752 | +€71,177 | +189% |
| Trade debts | 44 | €19,612 | €41,096 | +€21,484 | +110% |
| Suppliers | 440/4 | €19,612 | €41,096 | +€21,484 | +110% |
| Taxes, remuneration and social security | 45 | €10,243 | €8,316 | -€1,927 | -18.8% |
| Taxes | 450/3 | €2,150 | €2,150 | = | 0.0% |
| Remuneration and social security | 454/9 | €8,093 | €6,166 | -€1,927 | -23.8% |
| Other amounts payable | 47/48 | €7,720 | €59,340 | +€51,620 | +669% |
| Accrued charges and deferred income | 492/3 | €415 | - | -€415 | |
| Remuneration, social security and pensions | 62 | €57,889 | €59,430 | +€1,541 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,981 | €18,997 | +€4,015 | +26.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€7,500 | -€7,500 | |
| Other operating charges | 640/8 | €16,316 | €23,218 | +€6,902 | +42.3% |
| Gross operating margin | 9900 | €99,755 | €79,186 | -€20,569 | -20.6% |
| Operating profit (loss) | 9901 | €10,569 | -€14,958 | -€25,527 | |
| Financial charges | 65/66B | €695 | €1,832 | +€1,137 | +164% |
| Recurring financial charges | 65 | €695 | €1,832 | +€1,137 | +164% |
| Profit (loss) for the period before taxes | 9903 | €9,874 | -€16,790 | -€26,664 | |
| Income taxes | 67/77 | €2,172 | - | -€2,172 | |
| Profit (loss) for the period | 9904 | €7,702 | -€16,790 | -€24,492 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,702 | -€16,790 | -€24,492 |
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 30 October 2026 via checked.be.