ZWEKO HOLDING: 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.
ZWEKO HOLDING
Largest movements
- Receivables within one year +€45,693
up €45,693 (+28.0%), from €163,153 to €208,846
of which Other amounts receivable: +€44,702
- Cash +€35,071
up €35,071 (+137%), from €25,603 to €60,674
mainly Tax, wage and social debts (+€28,352) and Net result for the year (+€27,216)
- Tangible fixed assets -€25,169
down €25,169 (-16.4%), from €153,509 to €128,340
of which Other tangible fixed assets: -€25,169
- Tax, wage and social debts +€28,352
up €28,352 (+231%), from €12,282 to €40,635
of which Remuneration and social security: +€21,566
- Reserves +€27,216
up €27,216 (+7.5%), from €360,879 to €388,094
of which Distributable reserves: +€27,216
- Gross operating margin +€17,977
up €17,977 (+23.1%), from €77,805 to €95,782
- Taxes +€6,801
up €6,801 (+82.9%), from €8,207 to €15,008
- Staff costs +€4,566
up €4,566 (+16.6%), from €27,440 to €32,006
- Financial income +€1,803
up €1,803 (+53.1%), from €3,398 to €5,201
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 | €402,609 | €458,400 | +€55,791 | +13.9% |
| Fixed assets | 21/28 | €213,637 | €188,468 | -€25,169 | -11.8% |
| Tangible fixed assets | 22/27 | €153,509 | €128,340 | -€25,169 | -16.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €153,509 | €128,340 | -€25,169 | -16.4% |
| Financial fixed assets | 28 | €60,128 | €60,128 | = | 0.0% |
| Current assets | 29/58 | €188,972 | €269,931 | +€80,960 | +42.8% |
| Amounts receivable within one year | 40/41 | €163,153 | €208,846 | +€45,693 | +28.0% |
| Trade receivables | 40 | €47,748 | €48,738 | +€990 | +2.1% |
| Other amounts receivable | 41 | €115,406 | €160,108 | +€44,702 | +38.7% |
| Cash at bank and in hand | 54/58 | €25,603 | €60,674 | +€35,071 | +137% |
| Deferred charges and accrued income | 490/1 | €216 | €412 | +€196 | +90.8% |
| Total equity and liabilities | 10/49 | €402,609 | €458,400 | +€55,791 | +13.9% |
| Equity | 10/15 | €379,429 | €406,644 | +€27,216 | +7.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €360,879 | €388,094 | +€27,216 | +7.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €359,024 | €386,239 | +€27,216 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €23,180 | €51,755 | +€28,575 | +123% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €22,013 | €50,483 | +€28,469 | +129% |
| Trade debts | 44 | €9,731 | €9,848 | +€117 | +1.2% |
| Suppliers | 440/4 | €9,731 | €9,848 | +€117 | +1.2% |
| Taxes, remuneration and social security | 45 | €12,282 | €40,635 | +€28,352 | +231% |
| Taxes | 450/3 | €8,222 | €15,008 | +€6,786 | +82.5% |
| Remuneration and social security | 454/9 | €4,060 | €25,627 | +€21,566 | +531% |
| Accrued charges and deferred income | 492/3 | €1,166 | €1,272 | +€106 | +9.1% |
| Remuneration, social security and pensions | 62 | €27,440 | €32,006 | +€4,566 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,917 | €25,169 | -€749 | -2.9% |
| Other operating charges | 640/8 | €1,446 | €1,255 | -€190 | -13.2% |
| Gross operating margin | 9900 | €77,805 | €95,782 | +€17,977 | +23.1% |
| Operating profit (loss) | 9901 | €23,002 | €37,352 | +€14,350 | +62.4% |
| Financial income | 75/76B | €3,398 | €5,201 | +€1,803 | +53.1% |
| Recurring financial income | 75 | €3,398 | €5,201 | +€1,803 | +53.1% |
| Financial charges | 65/66B | €314 | €330 | +€16 | +5.0% |
| Recurring financial charges | 65 | €314 | €330 | +€16 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €26,086 | €42,224 | +€16,137 | +61.9% |
| Income taxes | 67/77 | €8,207 | €15,008 | +€6,801 | +82.9% |
| Profit (loss) for the period | 9904 | €17,879 | €27,216 | +€9,337 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,879 | €27,216 | +€9,337 | +52.2% |
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 28 October 2026 via checked.be.