Zeitmann: what changed
Two fiscal 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.
Zeitmann
Largest movements
- Cash -€35,854
down €35,854 (-75.9%), from €47,253 to €11,399
mainly Trade debts (-€111,833) and Stocks and contracts (-€24,826)
- Receivables within one year -€25,607
down €25,607 (-26.1%), from €97,943 to €72,336
of which Other amounts receivable: -€13,019
- Stocks and contracts +€24,826
up €24,826 (+9.4%), from €263,821 to €288,647
- Trade debts -€111,833
down €111,833 (-79.7%), from €140,287 to €28,454
- Reserves +€40,478
up €40,478 (+377.5%), from €10,722 to €51,200
- Other debts +€21,438
up €21,438 (+12.5%), from €171,543 to €192,981
- Tax, wage and social debts +€19,409
up €19,409 (+144.6%), from €13,426 to €32,835
- Debts after one year -€8,253
down €8,253 (-85.6%), from €9,642 to €1,389
- Gross operating margin +€23,089
up €23,089 (+55.3%), from €41,786 to €64,875
- Depreciation -€15,864
down €15,864 (-99.0%), from €16,026 to €162
- Taxes +€12,674
up €12,674 (+164.7%), from €7,695 to €20,369
- Other operating charges -€2,185
down €2,185 (-50.4%), from €4,335 to €2,151
- Financial income +€1,695
up €1,695 (+10274.5%), from €17 to €1,712
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.
Cash bridge derived
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 | €411,430 | €372,810 | -€38,620 | -9.4% |
| Fixed assets | 21/28 | €2,170 | €428 | -€1,742 | -80.3% |
| Tangible fixed assets | 22/27 | €2,170 | €428 | -€1,742 | -80.3% |
| Furniture and vehicles | 24 | €2,170 | €428 | -€1,742 | -80.3% |
| Current assets | 29/58 | €409,260 | €372,382 | -€36,878 | -9.0% |
| Stocks and contracts in progress | 3 | €263,821 | €288,647 | +€24,826 | +9.4% |
| Stocks | 30/36 | €263,821 | €288,647 | +€24,826 | +9.4% |
| Amounts receivable within one year | 40/41 | €97,943 | €72,336 | -€25,607 | -26.1% |
| Trade receivables | 40 | €84,925 | €72,336 | -€12,588 | -14.8% |
| Other amounts receivable | 41 | €13,019 | - | -€13,019 | |
| Cash at bank and in hand | 54/58 | €47,253 | €11,399 | -€35,854 | -75.9% |
| Deferred charges and accrued income | 490/1 | €243 | - | -€243 | |
| Total equity and liabilities | 10/49 | €411,430 | €372,810 | -€38,620 | -9.4% |
| Equity | 10/15 | €65,174 | €105,652 | +€40,478 | +62.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,722 | €51,200 | +€40,478 | +377.5% |
| Distributable reserves | 133 | €10,722 | €51,200 | +€40,478 | +377.5% |
| Profit (loss) carried forward | 14 | €49,452 | €49,452 | = | 0.0% |
| Amounts payable | 17/49 | €346,256 | €267,158 | -€79,098 | -22.8% |
| Amounts payable after more than one year | 17 | €9,642 | €1,389 | -€8,253 | -85.6% |
| Financial debts | 170/4 | €9,642 | €1,389 | -€8,253 | -85.6% |
| Amounts payable within one year | 42/48 | €336,614 | €265,768 | -€70,845 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €8,113 | €8,253 | +€140 | +1.7% |
| Trade debts | 44 | €140,287 | €28,454 | -€111,833 | -79.7% |
| Suppliers | 440/4 | €140,287 | €28,454 | -€111,833 | -79.7% |
| Advances received on contracts in progress | 46 | €3,245 | €3,245 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €13,426 | €32,835 | +€19,409 | +144.6% |
| Taxes | 450/3 | €13,426 | €32,835 | +€19,409 | +144.6% |
| Other amounts payable | 47/48 | €171,543 | €192,981 | +€21,438 | +12.5% |
| Non-recurring operating income | 76A | - | €5,883 | +€5,883 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,026 | €162 | -€15,864 | -99.0% |
| Other operating charges | 640/8 | €4,335 | €2,151 | -€2,185 | -50.4% |
| Gross operating margin | 9900 | €41,786 | €64,875 | +€23,089 | +55.3% |
| Operating profit (loss) | 9901 | €21,424 | €62,562 | +€41,138 | +192.0% |
| Financial income | 75/76B | €17 | €1,712 | +€1,695 | +10274.5% |
| Recurring financial income | 75 | €17 | €1,712 | +€1,695 | +10274.5% |
| Financial charges | 65/66B | €3,024 | €3,427 | +€403 | +13.3% |
| Recurring financial charges | 65 | €3,024 | €3,427 | +€403 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €18,417 | €60,847 | +€42,430 | +230.4% |
| Income taxes | 67/77 | €7,695 | €20,369 | +€12,674 | +164.7% |
| Profit (loss) for the period | 9904 | €10,722 | €40,478 | +€29,756 | +277.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,722 | €40,478 | +€29,756 | +277.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.