ZWINA: 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.
ZWINA
Largest movements
- Cash +€35,890
up €35,890 (+41.8%), from €85,852 to €121,742
mainly Tax, wage and social debts (+€20,272) and Trade debts (+€14,347)
- Tangible fixed assets +€4,117
new in 2025: €4,117
- Tax, wage and social debts +€20,272
up €20,272 (+51.2%), from €39,584 to €59,856
of which Remuneration and social security: +€17,728
- Trade debts +€14,347
up €14,347 (+62.4%), from €22,993 to €37,340
- Profit (loss) carried forward +€4,664
up €4,664 (+2.6%), from €176,886 to €181,549
- Gross operating margin -€54,136
down €54,136 (-54.1%), from €99,978 to €45,842
- Taxes +€21,826
new in 2025: €21,826
- Other operating charges +€1,875
up €1,875 (+115%), from €1,629 to €3,504
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 | €245,755 | €285,038 | +€39,283 | +16.0% |
| Fixed assets | 21/28 | €5,600 | €8,917 | +€3,317 | +59.2% |
| Intangible fixed assets | 21 | €5,600 | €4,800 | -€800 | -14.3% |
| Tangible fixed assets | 22/27 | - | €4,117 | +€4,117 | |
| Other tangible fixed assets | 26 | - | €4,117 | +€4,117 | |
| Current assets | 29/58 | €240,155 | €276,121 | +€35,966 | +15.0% |
| Stocks and contracts in progress | 3 | €154,304 | €154,304 | = | 0.0% |
| Stocks | 30/36 | €154,304 | €154,304 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €76 | +€76 | |
| Other amounts receivable | 41 | - | €76 | +€76 | |
| Cash at bank and in hand | 54/58 | €85,852 | €121,742 | +€35,890 | +41.8% |
| Total equity and liabilities | 10/49 | €245,755 | €285,038 | +€39,283 | +16.0% |
| Equity | 10/15 | €183,178 | €187,842 | +€4,664 | +2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93 | €93 | = | 0.0% |
| Non-distributable reserves | 130/1 | €93 | €93 | = | 0.0% |
| Reserves not available under the articles | 1311 | €93 | €93 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,886 | €181,549 | +€4,664 | +2.6% |
| Amounts payable | 17/49 | €62,577 | €97,196 | +€34,619 | +55.3% |
| Amounts payable within one year | 42/48 | €62,577 | €97,196 | +€34,619 | +55.3% |
| Trade debts | 44 | €22,993 | €37,340 | +€14,347 | +62.4% |
| Suppliers | 440/4 | €22,993 | €37,340 | +€14,347 | +62.4% |
| Taxes, remuneration and social security | 45 | €39,584 | €59,856 | +€20,272 | +51.2% |
| Taxes | 450/3 | €18,763 | €21,307 | +€2,544 | +13.6% |
| Remuneration and social security | 454/9 | €20,821 | €38,549 | +€17,728 | +85.1% |
| Remuneration, social security and pensions | 62 | €13,600 | €13,955 | +€355 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,333 | €1,829 | +€496 | +37.2% |
| Other operating charges | 640/8 | €1,629 | €3,504 | +€1,875 | +115% |
| Gross operating margin | 9900 | €99,978 | €45,842 | -€54,136 | -54.1% |
| Operating profit (loss) | 9901 | €83,416 | €26,554 | -€56,862 | -68.2% |
| Financial charges | 65/66B | €175 | €64 | -€111 | -63.2% |
| Recurring financial charges | 65 | €175 | €64 | -€111 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €83,241 | €26,490 | -€56,751 | -68.2% |
| Income taxes | 67/77 | - | €21,826 | +€21,826 | |
| Profit (loss) for the period | 9904 | €83,241 | €4,664 | -€78,577 | -94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,241 | €4,664 | -€78,577 | -94.4% |
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 24 October 2026 via checked.be.