ZERRIN: 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.
ZERRIN
Largest movements
- Receivables within one year -€47,746
down €47,746 (-24.7%), from €193,458 to €145,712
of which Trade receivables: -€48,424
- Tangible fixed assets -€10,439
down €10,439 (-45.7%), from €22,837 to €12,398
of which Land and buildings: -€5,833
- Cash -€4,951
down €4,951 (-48.2%), from €10,277 to €5,326
mainly Trade debts (-€68,203) and Debts after one year (-€14,422)
- Financial fixed assets +€4,518
up €4,518 (+55.5%), from €8,139 to €12,657
- Trade debts -€68,203
down €68,203 (-68.0%), from €100,327 to €32,123
of which Suppliers: -€46,957
- Profit (loss) carried forward +€16,056
up €16,056 (+20.3%), from €79,191 to €95,247
- Debts after one year -€14,422
down €14,422 (-55.5%), from €25,969 to €11,547
- Tax, wage and social debts +€6,045
up €6,045 (+103.9%), from €5,820 to €11,864
- Gross operating margin -€9,326
down €9,326 (-17.0%), from €54,821 to €45,494
- Other operating charges -€6,184
down €6,184 (-36.5%), from €16,939 to €10,755
- Depreciation -€957
down €957 (-7.6%), from €12,527 to €11,570
- Financial income +€585
up €585 (+590.6%), from €99 to €684
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 | €236,617 | €176,092 | -€60,524 | -25.6% |
| Fixed assets | 21/28 | €30,976 | €25,054 | -€5,921 | -19.1% |
| Tangible fixed assets | 22/27 | €22,837 | €12,398 | -€10,439 | -45.7% |
| Land and buildings | 22 | €11,795 | €5,962 | -€5,833 | -49.5% |
| Furniture and vehicles | 24 | €11,042 | €6,435 | -€4,606 | -41.7% |
| Financial fixed assets | 28 | €8,139 | €12,657 | +€4,518 | +55.5% |
| Current assets | 29/58 | €205,641 | €151,038 | -€54,603 | -26.6% |
| Amounts receivable within one year | 40/41 | €193,458 | €145,712 | -€47,746 | -24.7% |
| Trade receivables | 40 | €123,575 | €75,152 | -€48,424 | -39.2% |
| Other amounts receivable | 41 | €69,882 | €70,561 | +€678 | +1.0% |
| Cash at bank and in hand | 54/58 | €10,277 | €5,326 | -€4,951 | -48.2% |
| Deferred charges and accrued income | 490/1 | €1,907 | - | -€1,907 | |
| Total equity and liabilities | 10/49 | €236,617 | €176,092 | -€60,524 | -25.6% |
| Equity | 10/15 | €104,502 | €120,558 | +€16,056 | +15.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | €100 | = | 0.0% |
| Other | 1109/19 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €25,211 | €25,211 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,013 | €9,013 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,013 | €9,013 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,198 | €16,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,191 | €95,247 | +€16,056 | +20.3% |
| Amounts payable | 17/49 | €132,115 | €55,534 | -€76,581 | -58.0% |
| Amounts payable after more than one year | 17 | €25,969 | €11,547 | -€14,422 | -55.5% |
| Financial debts | 170/4 | €25,969 | €11,547 | -€14,422 | -55.5% |
| Amounts payable within one year | 42/48 | €106,147 | €43,988 | -€62,159 | -58.6% |
| Trade debts | 44 | €100,327 | €32,123 | -€68,203 | -68.0% |
| Suppliers | 440/4 | €79,081 | €32,123 | -€46,957 | -59.4% |
| Bills of exchange payable | 441 | €21,246 | - | -€21,246 | |
| Taxes, remuneration and social security | 45 | €5,820 | €11,864 | +€6,045 | +103.9% |
| Taxes | 450/3 | €5,820 | €11,864 | +€6,045 | +103.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,527 | €11,570 | -€957 | -7.6% |
| Other operating charges | 640/8 | €16,939 | €10,755 | -€6,184 | -36.5% |
| Gross operating margin | 9900 | €54,821 | €45,494 | -€9,326 | -17.0% |
| Operating profit (loss) | 9901 | €25,355 | €23,169 | -€2,186 | -8.6% |
| Financial income | 75/76B | €99 | €684 | +€585 | +590.6% |
| Recurring financial income | 75 | €99 | €684 | +€585 | +590.6% |
| Financial charges | 65/66B | €2,196 | €1,753 | -€443 | -20.2% |
| Recurring financial charges | 65 | €2,196 | €1,753 | -€443 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €23,258 | €22,101 | -€1,157 | -5.0% |
| Income taxes | 67/77 | €5,820 | €6,045 | +€225 | +3.9% |
| Profit (loss) for the period | 9904 | €17,438 | €16,056 | -€1,382 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,438 | €16,056 | -€1,382 | -7.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.