IMMO ZETRUD: 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.
IMMO ZETRUD
Largest movements
- Receivables within one year +€45,879
up €45,879 (+48.0%), from €95,545 to €141,424
of which Trade receivables: +€46,682
- Deferred charges and accrued income -€30,473
down €30,473 (-46.6%), from €65,336 to €34,863
- Stocks and contracts -€23,586
no longer reported in 2025 (was €23,586)
- Profit (loss) carried forward -€29,996
down €29,996 (-4.3%), from -€703,737 to -€733,733
- Other debts +€27,834
up €27,834 (+19.0%), from €146,812 to €174,646
- Trade debts -€6,846
down €6,846 (-61.7%), from €11,088 to €4,242
- Gross operating margin -€23,743
down €23,743 (-550%), from -€4,315 to -€28,058
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 | €408,163 | €398,710 | -€9,453 | -2.3% |
| Fixed assets | 21/28 | €223,537 | €222,264 | -€1,273 | -0.6% |
| Tangible fixed assets | 22/27 | €223,537 | €222,264 | -€1,273 | -0.6% |
| Land and buildings | 22 | €222,137 | €221,564 | -€573 | -0.3% |
| Furniture and vehicles | 24 | €1,400 | €700 | -€700 | -50.0% |
| Current assets | 29/58 | €184,626 | €176,446 | -€8,180 | -4.4% |
| Stocks and contracts in progress | 3 | €23,586 | - | -€23,586 | |
| Stocks | 30/36 | €23,586 | - | -€23,586 | |
| Amounts receivable within one year | 40/41 | €95,545 | €141,424 | +€45,879 | +48.0% |
| Trade receivables | 40 | €85,188 | €131,870 | +€46,682 | +54.8% |
| Other amounts receivable | 41 | €10,357 | €9,554 | -€803 | -7.8% |
| Cash at bank and in hand | 54/58 | €159 | €159 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €65,336 | €34,863 | -€30,473 | -46.6% |
| Total equity and liabilities | 10/49 | €408,163 | €398,710 | -€9,453 | -2.3% |
| Equity | 10/15 | -€250,182 | -€280,178 | -€29,996 | -12.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €203,555 | €203,555 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€703,737 | -€733,733 | -€29,996 | -4.3% |
| Amounts payable | 17/49 | €658,345 | €678,888 | +€20,543 | +3.1% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €158,345 | €178,888 | +€20,543 | +13.0% |
| Financial debts | 43 | €445 | - | -€445 | |
| Credit institutions | 430/8 | €445 | - | -€445 | |
| Trade debts | 44 | €11,088 | €4,242 | -€6,846 | -61.7% |
| Suppliers | 440/4 | €11,088 | €4,242 | -€6,846 | -61.7% |
| Other amounts payable | 47/48 | €146,812 | €174,646 | +€27,834 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,527 | €1,427 | -€100 | -6.5% |
| Gross operating margin | 9900 | -€4,315 | -€28,058 | -€23,743 | -550% |
| Operating profit (loss) | 9901 | -€5,842 | -€29,485 | -€23,643 | -405% |
| Financial charges | 65/66B | €726 | €511 | -€215 | -29.6% |
| Recurring financial charges | 65 | €726 | €511 | -€215 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,568 | -€29,996 | -€23,428 | -357% |
| Profit (loss) for the period | 9904 | -€6,568 | -€29,996 | -€23,428 | -357% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,568 | -€29,996 | -€23,428 | -357% |
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 20 October 2026 via checked.be.