DR. VERA ZIMMERMANN: what changed
DR. VERA ZIMMERMANN
Largest movements
- Cash -€104,739
down €104,739 (-54.8%), from €190,985 to €86,246
mainly Contributions, distributions and other (-€176,909) and Other debts (-€22,128)
- Tangible fixed assets -€12,289
down €12,289 (-22.6%), from €54,260 to €41,971
of which Furniture and vehicles: -€12,289
- Receivables within one year +€4,634
up €4,634 (+8.8%), from €52,721 to €57,355
- Profit (loss) carried forward -€70,088
no longer reported in 2025 (was €70,088)
- Other debts -€22,128
down €22,128 (-12.6%), from €176,098 to €153,971
- Tax, wage and social debts -€21,701
down €21,701 (-61.8%), from €35,138 to €13,437
- Gross operating margin +€25,640
up €25,640 (+20.3%), from €126,562 to €152,202
- Taxes +€6,312
up €6,312 (+25.7%), from €24,553 to €30,865
- Depreciation +€4,884
up €4,884 (+66.0%), from €7,405 to €12,289
- Other operating charges -€1,562
down €1,562 (-42.3%), from €3,693 to €2,131
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,784 | €187,868 | -€113,917 | -37.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €54,260 | €41,971 | -€12,289 | -22.6% |
| Tangible fixed assets | 22/27 | €54,260 | €41,971 | -€12,289 | -22.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €54,260 | €41,971 | -€12,289 | -22.6% |
| Current assets | 29/58 | €247,525 | €145,897 | -€101,628 | -41.1% |
| Amounts receivable within one year | 40/41 | €52,721 | €57,355 | +€4,634 | +8.8% |
| Trade receivables | 40 | €52,721 | €57,355 | +€4,634 | +8.8% |
| Cash at bank and in hand | 54/58 | €190,985 | €86,246 | -€104,739 | -54.8% |
| Deferred charges and accrued income | 490/1 | €3,818 | €2,296 | -€1,522 | -39.9% |
| Total equity and liabilities | 10/49 | €301,784 | €187,868 | -€113,917 | -37.7% |
| Equity | 10/15 | €90,548 | €20,460 | -€70,088 | -77.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,088 | - | -€70,088 | |
| Amounts payable | 17/49 | €211,236 | €167,408 | -€43,829 | -20.7% |
| Amounts payable within one year | 42/48 | €211,236 | €167,408 | -€43,829 | -20.7% |
| Taxes, remuneration and social security | 45 | €35,138 | €13,437 | -€21,701 | -61.8% |
| Taxes | 450/3 | €35,138 | €13,437 | -€21,701 | -61.8% |
| Other amounts payable | 47/48 | €176,098 | €153,971 | -€22,128 | -12.6% |
| Non-recurring operating income | 76A | €1,820 | - | -€1,820 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,405 | €12,289 | +€4,884 | +66.0% |
| Other operating charges | 640/8 | €3,693 | €2,131 | -€1,562 | -42.3% |
| Gross operating margin | 9900 | €126,562 | €152,202 | +€25,640 | +20.3% |
| Operating profit (loss) | 9901 | €115,464 | €137,782 | +€22,318 | +19.3% |
| Financial charges | 65/66B | €112 | €96 | -€16 | -14.1% |
| Recurring financial charges | 65 | €112 | €96 | -€16 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €115,352 | €137,686 | +€22,334 | +19.4% |
| Income taxes | 67/77 | €24,553 | €30,865 | +€6,312 | +25.7% |
| Profit (loss) for the period | 9904 | €90,799 | €106,821 | +€16,022 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €90,799 | €106,821 | +€16,022 | +17.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.