ZDH: 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.
ZDH
Largest movements
- Stocks and contracts -€235,752
down €235,752 (-80.0%), from €294,572 to €58,820
- Receivables within one year +€125,409
up €125,409 (+2593.0%), from €4,836 to €130,245
of which Trade receivables: +€124,130
- Cash +€54,655
up €54,655 (+19.6%), from €278,919 to €333,574
mainly Stocks and contracts (+€235,752) and Trade debts (+€199,535)
- Trade debts +€199,535
up €199,535 (+1112.1%), from €17,941 to €217,476
- Profit (loss) carried forward -€173,664
down €173,664 (-81.9%), from €212,123 to €38,459
- Other debts -€100,421
down €100,421 (-95.0%), from €105,751 to €5,330
- Advances received +€28,472
new in 2024: €28,472
- Tax, wage and social debts -€8,129
down €8,129 (-4.0%), from €204,568 to €196,439
of which Taxes: -€16,594
- Purchases and services +€559,351
up €559,351 (+25.1%), from €2.2m to €2.8m
- Turnover +€505,186
up €505,186 (+20.6%), from €2.5m to €3.0m
- Gross operating margin -€54,548
down €54,548 (-23.9%), from €228,292 to €173,744
- Taxes -€39,616
no longer reported in 2024 (was €39,616)
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €578,327 | €522,639 | -€55,688 | -9.6% |
| Current assets | 29/58 | €578,327 | €522,639 | -€55,688 | -9.6% |
| Stocks and contracts in progress | 3 | €294,572 | €58,820 | -€235,752 | -80.0% |
| Stocks | 30/36 | €294,572 | €58,820 | -€235,752 | -80.0% |
| Amounts receivable within one year | 40/41 | €4,836 | €130,245 | +€125,409 | +2593.0% |
| Trade receivables | 40 | - | €124,130 | +€124,130 | |
| Other amounts receivable | 41 | €4,836 | €6,115 | +€1,279 | +26.4% |
| Cash at bank and in hand | 54/58 | €278,919 | €333,574 | +€54,655 | +19.6% |
| Total equity and liabilities | 10/49 | €578,327 | €522,639 | -€55,688 | -9.6% |
| Equity | 10/15 | €246,970 | €73,306 | -€173,664 | -70.3% |
| Contributions | 10/11 | €33,600 | €33,600 | = | 0.0% |
| Reserves | 13 | €1,247 | €1,247 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,247 | €1,247 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,247 | €1,247 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €212,123 | €38,459 | -€173,664 | -81.9% |
| Amounts payable | 17/49 | €331,357 | €449,333 | +€117,976 | +35.6% |
| Amounts payable after more than one year | 17 | €3,097 | - | -€3,097 | |
| Financial debts | 170/4 | €3,097 | - | -€3,097 | |
| Amounts payable within one year | 42/48 | €328,260 | €449,333 | +€121,073 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | - | €1,616 | +€1,616 | |
| Trade debts | 44 | €17,941 | €217,476 | +€199,535 | +1112.1% |
| Suppliers | 440/4 | €17,941 | €217,476 | +€199,535 | +1112.1% |
| Advances received on contracts in progress | 46 | - | €28,472 | +€28,472 | |
| Taxes, remuneration and social security | 45 | €204,568 | €196,439 | -€8,129 | -4.0% |
| Taxes | 450/3 | €142,005 | €125,411 | -€16,594 | -11.7% |
| Remuneration and social security | 454/9 | €62,563 | €71,028 | +€8,465 | +13.5% |
| Other amounts payable | 47/48 | €105,751 | €5,330 | -€100,421 | -95.0% |
| Turnover | 70 | €2,454,765 | €2,959,951 | +€505,186 | +20.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,226,856 | €2,786,207 | +€559,351 | +25.1% |
| Remuneration, social security and pensions | 62 | €111,701 | €123,616 | +€11,915 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,418 | - | -€8,418 | |
| Other operating charges | 640/8 | €247 | €10,622 | +€10,375 | +4200.1% |
| Gross operating margin | 9900 | €228,292 | €173,744 | -€54,548 | -23.9% |
| Operating profit (loss) | 9901 | €107,926 | €39,506 | -€68,420 | -63.4% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €3,635 | €1,047 | -€2,588 | -71.2% |
| Recurring financial charges | 65 | €3,635 | €1,047 | -€2,588 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €104,297 | €38,459 | -€65,838 | -63.1% |
| Income taxes | 67/77 | €39,616 | - | -€39,616 | |
| Profit (loss) for the period | 9904 | €64,681 | €38,459 | -€26,222 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,681 | €38,459 | -€26,222 | -40.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.