ZUBIA: 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.
ZUBIA
Largest movements
- Cash +€15,794
up €15,794 (+26.2%), from €60,168 to €75,963
mainly Net result for the year (+€44,103) and Receivables after one year (+€2,063)
- Reserves +€44,000
up €44,000 (+19.3%), from €227,505 to €271,505
- Other debts -€30,731
down €30,731 (-98.6%), from €31,157 to €427
- Gross operating margin -€9,334
down €9,334 (-12.7%), from €73,449 to €64,115
- Financial charges +€7,319
up €7,319, from -€3,137 to €4,182
- Taxes -€3,539
down €3,539 (-16.1%), from €21,960 to €18,422
- Financial income -€830
down €830 (-15.0%), from €5,547 to €4,717
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 | €291,059 | €303,378 | +€12,319 | +4.2% |
| Fixed assets | 21/28 | €62,874 | €61,855 | -€1,018 | -1.6% |
| Tangible fixed assets | 22/27 | €1,207 | €189 | -€1,018 | -84.4% |
| Plant, machinery and equipment | 23 | €854 | €111 | -€744 | -87.0% |
| Furniture and vehicles | 24 | €353 | €78 | -€275 | -77.9% |
| Financial fixed assets | 28 | €61,667 | €61,667 | = | 0.0% |
| Current assets | 29/58 | €228,186 | €241,523 | +€13,337 | +5.8% |
| Amounts receivable after more than one year | 29 | €2,063 | - | -€2,063 | |
| Other amounts receivable | 291 | €2,063 | - | -€2,063 | |
| Amounts receivable within one year | 40/41 | €30,307 | €28,999 | -€1,308 | -4.3% |
| Trade receivables | 40 | €27,249 | €26,936 | -€313 | -1.2% |
| Other amounts receivable | 41 | €3,058 | €2,063 | -€995 | -32.5% |
| Current investments | 50/53 | €135,085 | €136,082 | +€996 | +0.7% |
| Cash at bank and in hand | 54/58 | €60,168 | €75,963 | +€15,794 | +26.2% |
| Deferred charges and accrued income | 490/1 | €562 | €480 | -€82 | -14.6% |
| Total equity and liabilities | 10/49 | €291,059 | €303,378 | +€12,319 | +4.2% |
| Equity | 10/15 | €247,515 | €291,618 | +€44,103 | +17.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €227,505 | €271,505 | +€44,000 | +19.3% |
| Distributable reserves | 133 | €227,505 | €271,505 | +€44,000 | +19.3% |
| Profit (loss) carried forward | 14 | €10 | €113 | +€103 | +1,023% |
| Amounts payable | 17/49 | €43,544 | €11,761 | -€31,784 | -73.0% |
| Amounts payable within one year | 42/48 | €43,157 | €11,361 | -€31,796 | -73.7% |
| Trade debts | 44 | €290 | €110 | -€180 | -62.1% |
| Suppliers | 440/4 | €290 | €110 | -€180 | -62.1% |
| Taxes, remuneration and social security | 45 | €11,709 | €10,824 | -€885 | -7.6% |
| Taxes | 450/3 | €11,709 | €10,824 | -€885 | -7.6% |
| Other amounts payable | 47/48 | €31,157 | €427 | -€30,731 | -98.6% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,018 | €1,018 | = | 0.0% |
| Other operating charges | 640/8 | €1,029 | €1,107 | +€78 | +7.6% |
| Gross operating margin | 9900 | €73,449 | €64,115 | -€9,334 | -12.7% |
| Operating profit (loss) | 9901 | €71,402 | €61,990 | -€9,412 | -13.2% |
| Financial income | 75/76B | €5,547 | €4,717 | -€830 | -15.0% |
| Recurring financial income | 75 | €5,547 | €4,717 | -€830 | -15.0% |
| Financial charges | 65/66B | -€3,137 | €4,182 | +€7,319 | |
| Recurring financial charges | 65 | -€3,137 | €4,182 | +€7,319 | |
| Profit (loss) for the period before taxes | 9903 | €80,086 | €62,525 | -€17,561 | -21.9% |
| Income taxes | 67/77 | €21,960 | €18,422 | -€3,539 | -16.1% |
| Profit (loss) for the period | 9904 | €58,125 | €44,103 | -€14,023 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,125 | €44,103 | -€14,023 | -24.1% |
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 28 October 2026 via checked.be.