Zilvervos: 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.
Zilvervos
Largest movements
- Cash +€47,877
up €47,877 (+152%), from €31,408 to €79,285
mainly Net result for the year (+€60,103) and Receivables within one year (+€18,270)
- Receivables within one year -€18,270
down €18,270 (-63.7%), from €28,672 to €10,402
of which Trade receivables: -€16,271
- Tangible fixed assets -€18,073
down €18,073 (-25.2%), from €71,764 to €53,691
of which Furniture and vehicles: -€17,470
- Reserves +€25,103
up €25,103 (+71.6%), from €35,080 to €60,183
- Debts after one year -€14,217
down €14,217 (-30.3%), from €46,984 to €32,767
- Other debts -€3,060
down €3,060 (-11.7%), from €26,046 to €22,986
- Tax, wage and social debts +€2,474
up €2,474 (+30.6%), from €8,077 to €10,551
- Financial charges +€91,774
up €91,774 (+135%), from €68,061 to €159,835
- Financial income +€87,598
up €87,598 (+133%), from €65,631 to €153,229
- Gross operating margin +€36,675
up €36,675 (+57.6%), from €63,679 to €100,354
- Taxes +€10,509
up €10,509 (+210%), from €5,001 to €15,511
- Depreciation +€2,467
up €2,467 (+15.8%), from €15,606 to €18,073
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,639 | €144,518 | +€11,880 | +9.0% |
| Fixed assets | 21/28 | €71,764 | €53,691 | -€18,073 | -25.2% |
| Tangible fixed assets | 22/27 | €71,764 | €53,691 | -€18,073 | -25.2% |
| Plant, machinery and equipment | 23 | €2,914 | €2,311 | -€603 | -20.7% |
| Furniture and vehicles | 24 | €68,850 | €51,380 | -€17,470 | -25.4% |
| Current assets | 29/58 | €60,875 | €90,827 | +€29,952 | +49.2% |
| Amounts receivable within one year | 40/41 | €28,672 | €10,402 | -€18,270 | -63.7% |
| Trade receivables | 40 | €26,673 | €10,402 | -€16,271 | -61.0% |
| Other amounts receivable | 41 | €1,999 | - | -€1,999 | |
| Cash at bank and in hand | 54/58 | €31,408 | €79,285 | +€47,877 | +152% |
| Deferred charges and accrued income | 490/1 | €795 | €1,140 | +€345 | +43.4% |
| Total equity and liabilities | 10/49 | €132,639 | €144,518 | +€11,880 | +9.0% |
| Equity | 10/15 | €37,580 | €62,683 | +€25,103 | +66.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €35,080 | €60,183 | +€25,103 | +71.6% |
| Distributable reserves | 133 | €35,080 | €60,183 | +€25,103 | +71.6% |
| Amounts payable | 17/49 | €95,059 | €81,836 | -€13,223 | -13.9% |
| Amounts payable after more than one year | 17 | €46,984 | €32,767 | -€14,217 | -30.3% |
| Financial debts | 170/4 | €46,984 | €32,767 | -€14,217 | -30.3% |
| Amounts payable within one year | 42/48 | €48,075 | €49,069 | +€994 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €13,675 | €14,217 | +€542 | +4.0% |
| Trade debts | 44 | €277 | €1,314 | +€1,038 | +375% |
| Suppliers | 440/4 | €277 | €1,314 | +€1,038 | +375% |
| Taxes, remuneration and social security | 45 | €8,077 | €10,551 | +€2,474 | +30.6% |
| Taxes | 450/3 | €8,077 | €10,551 | +€2,474 | +30.6% |
| Other amounts payable | 47/48 | €26,046 | €22,986 | -€3,060 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,606 | €18,073 | +€2,467 | +15.8% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €63,679 | €100,354 | +€36,675 | +57.6% |
| Operating profit (loss) | 9901 | €48,011 | €82,219 | +€34,208 | +71.3% |
| Financial income | 75/76B | €65,631 | €153,229 | +€87,598 | +133% |
| Recurring financial income | 75 | €65,631 | €153,229 | +€87,598 | +133% |
| Financial charges | 65/66B | €68,061 | €159,835 | +€91,774 | +135% |
| Recurring financial charges | 65 | €68,061 | €159,835 | +€91,774 | +135% |
| Profit (loss) for the period before taxes | 9903 | €45,581 | €75,613 | +€30,033 | +65.9% |
| Income taxes | 67/77 | €5,001 | €15,511 | +€10,509 | +210% |
| Profit (loss) for the period | 9904 | €40,579 | €60,103 | +€19,523 | +48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,579 | €60,103 | +€19,523 | +48.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.