ZF & CO: 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.
ZF & CO
Largest movements
- Tangible fixed assets -€16,768
down €16,768 (-28.8%), from €58,170 to €41,402
- Receivables within one year -€4,592
down €4,592 (-12.9%), from €35,694 to €31,102
of which Other amounts receivable: -€4,161
- Cash +€3,983
up €3,983 (+7.1%), from €55,969 to €59,952
mainly Tax, wage and social debts (+€25,637) and Depreciation (+€17,821)
- Trade debts -€45,373
down €45,373 (-80.4%), from €56,431 to €11,058
- Tax, wage and social debts +€25,637
up €25,637 (+152%), from €16,849 to €42,486
of which Remuneration and social security: +€22,769
- Debts after one year -€8,908
down €8,908 (-33.9%), from €26,293 to €17,384
- Other debts +€8,316
up €8,316 (+14.7%), from €56,488 to €64,804
- Purchases and services -€92,897
down €92,897 (-22.8%), from €408,030 to €315,133
- Gross operating margin +€80,589
up €80,589 (+60.6%), from €133,055 to €213,644
- Staff costs +€77,076
up €77,076 (+79.3%), from €97,248 to €174,324
- Turnover -€12,308
down €12,308 (-2.3%), from €541,084 to €528,777
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.
Derived cash bridge
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 | €194,721 | €176,981 | -€17,739 | -9.1% |
| Fixed assets | 21/28 | €70,695 | €53,927 | -€16,768 | -23.7% |
| Tangible fixed assets | 22/27 | €58,170 | €41,402 | -€16,768 | -28.8% |
| Plant, machinery and equipment | 23 | €7,637 | €4,003 | -€3,633 | -47.6% |
| Furniture and vehicles | 24 | €26,468 | €19,398 | -€7,070 | -26.7% |
| Other tangible fixed assets | 26 | €24,065 | €18,001 | -€6,065 | -25.2% |
| Financial fixed assets | 28 | €12,525 | €12,525 | = | 0.0% |
| Current assets | 29/58 | €124,025 | €123,054 | -€971 | -0.8% |
| Stocks and contracts in progress | 3 | €32,362 | €32,000 | -€362 | -1.1% |
| Stocks | 30/36 | €32,362 | €32,000 | -€362 | -1.1% |
| Amounts receivable within one year | 40/41 | €35,694 | €31,102 | -€4,592 | -12.9% |
| Trade receivables | 40 | €430 | - | -€430 | |
| Other amounts receivable | 41 | €35,263 | €31,102 | -€4,161 | -11.8% |
| Cash at bank and in hand | 54/58 | €55,969 | €59,952 | +€3,983 | +7.1% |
| Total equity and liabilities | 10/49 | €194,721 | €176,981 | -€17,739 | -9.1% |
| Equity | 10/15 | €30,545 | €32,341 | +€1,796 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,945 | €13,741 | +€1,796 | +15.0% |
| Amounts payable | 17/49 | €164,176 | €144,640 | -€19,536 | -11.9% |
| Amounts payable after more than one year | 17 | €26,293 | €17,384 | -€8,908 | -33.9% |
| Financial debts | 170/4 | €26,293 | €17,384 | -€8,908 | -33.9% |
| Amounts payable within one year | 42/48 | €137,883 | €127,256 | -€10,627 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €8,116 | €8,908 | +€793 | +9.8% |
| Trade debts | 44 | €56,431 | €11,058 | -€45,373 | -80.4% |
| Suppliers | 440/4 | €56,431 | €11,058 | -€45,373 | -80.4% |
| Taxes, remuneration and social security | 45 | €16,849 | €42,486 | +€25,637 | +152% |
| Taxes | 450/3 | - | €2,868 | +€2,868 | |
| Remuneration and social security | 454/9 | €16,849 | €39,618 | +€22,769 | +135% |
| Other amounts payable | 47/48 | €56,488 | €64,804 | +€8,316 | +14.7% |
| Turnover | 70 | €541,084 | €528,777 | -€12,308 | -2.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €408,030 | €315,133 | -€92,897 | -22.8% |
| Remuneration, social security and pensions | 62 | €97,248 | €174,324 | +€77,076 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,313 | €17,821 | +€1,508 | +9.2% |
| Other operating charges | 640/8 | €10,571 | €10,462 | -€108 | -1.0% |
| Gross operating margin | 9900 | €133,055 | €213,644 | +€80,589 | +60.6% |
| Operating profit (loss) | 9901 | €8,923 | €11,036 | +€2,113 | +23.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +6,050% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +6,050% |
| Non-recurring financial income | 76B | €0 | €1 | +€1 | +6,050% |
| Financial charges | 65/66B | €8,785 | €7,609 | -€1,176 | -13.4% |
| Recurring financial charges | 65 | €8,668 | €4,485 | -€4,184 | -48.3% |
| Non-recurring financial charges | 66B | €116 | €3,124 | +€3,008 | +2,584% |
| Profit (loss) for the period before taxes | 9903 | €139 | €3,429 | +€3,290 | +2,373% |
| Income taxes | 67/77 | - | €1,632 | +€1,632 | |
| Profit (loss) for the period | 9904 | €139 | €1,796 | +€1,658 | +1,196% |
| Profit (loss) for the period to be appropriated | 9905 | €139 | €1,796 | +€1,658 | +1,196% |
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 24 October 2026 via checked.be.