DIETER ZUTTERMAN: 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.
DIETER ZUTTERMAN
Largest movements
- Receivables within one year +€17,765
up €17,765 (+226%), from €7,855 to €25,620
of which Other amounts receivable: +€17,765
- Tangible fixed assets -€1,340
down €1,340 (-53.6%), from €2,501 to €1,161
of which Plant, machinery and equipment: -€771
- Profit (loss) carried forward +€33,495
up €33,495 (+61.5%), from -€54,441 to -€20,946
- Current portion of long-term debt -€11,493
down €11,493 (-47.4%), from €24,261 to €12,768
- Trade debts -€7,279
down €7,279 (-65.8%), from €11,067 to €3,789
- Debts after one year -€5,868
down €5,868 (-61.5%), from €9,544 to €3,676
- Tax, wage and social debts +€5,837
up €5,837 (+359%), from €1,625 to €7,461
- Gross operating margin +€51,197
up €51,197, from -€10,193 to €41,004
- Taxes +€2,358
up €2,358 (+1,099%), from €215 to €2,573
- Other operating charges +€1,376
up €1,376 (+89.4%), from €1,539 to €2,915
- Financial income +€419
up €419 (+111%), from €377 to €796
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 | €12,517 | €28,742 | +€16,226 | +130% |
| Fixed assets | 21/28 | €3,951 | €2,611 | -€1,340 | -33.9% |
| Tangible fixed assets | 22/27 | €2,501 | €1,161 | -€1,340 | -53.6% |
| Plant, machinery and equipment | 23 | €1,062 | €291 | -€771 | -72.6% |
| Furniture and vehicles | 24 | €1,439 | €870 | -€569 | -39.5% |
| Financial fixed assets | 28 | €1,450 | €1,450 | = | 0.0% |
| Current assets | 29/58 | €8,566 | €26,131 | +€17,565 | +205% |
| Stocks and contracts in progress | 3 | €255 | €255 | = | 0.0% |
| Stocks | 30/36 | €255 | €255 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,855 | €25,620 | +€17,765 | +226% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7,855 | €25,620 | +€17,765 | +226% |
| Cash at bank and in hand | 54/58 | €455 | €256 | -€200 | -43.9% |
| Total equity and liabilities | 10/49 | €12,517 | €28,742 | +€16,226 | +130% |
| Equity | 10/15 | -€33,981 | -€486 | +€33,495 | +98.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,441 | -€20,946 | +€33,495 | +61.5% |
| Amounts payable | 17/49 | €46,497 | €29,228 | -€17,269 | -37.1% |
| Amounts payable after more than one year | 17 | €9,544 | €3,676 | -€5,868 | -61.5% |
| Financial debts | 170/4 | €9,544 | €3,676 | -€5,868 | -61.5% |
| Amounts payable within one year | 42/48 | €36,953 | €24,018 | -€12,935 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €24,261 | €12,768 | -€11,493 | -47.4% |
| Trade debts | 44 | €11,067 | €3,789 | -€7,279 | -65.8% |
| Suppliers | 440/4 | €11,067 | €3,789 | -€7,279 | -65.8% |
| Taxes, remuneration and social security | 45 | €1,625 | €7,461 | +€5,837 | +359% |
| Taxes | 450/3 | €1,625 | €7,461 | +€5,837 | +359% |
| Accrued charges and deferred income | 492/3 | - | €1,534 | +€1,534 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,375 | €1,340 | -€35 | -2.6% |
| Other operating charges | 640/8 | €1,539 | €2,915 | +€1,376 | +89.4% |
| Gross operating margin | 9900 | -€10,193 | €41,004 | +€51,197 | |
| Operating profit (loss) | 9901 | -€13,107 | €36,750 | +€49,856 | |
| Financial income | 75/76B | €377 | €796 | +€419 | +111% |
| Recurring financial income | 75 | €377 | €796 | +€419 | +111% |
| Financial charges | 65/66B | €1,090 | €1,478 | +€387 | +35.5% |
| Recurring financial charges | 65 | €1,090 | €1,478 | +€387 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,820 | €36,068 | +€49,888 | |
| Income taxes | 67/77 | €215 | €2,573 | +€2,358 | +1,099% |
| Profit (loss) for the period | 9904 | -€14,035 | €33,495 | +€47,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,035 | €33,495 | +€47,529 |
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 27 October 2026 via checked.be.