ZF GENERAL TRADING: 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 GENERAL TRADING
Largest movements
- Receivables within one year +€56,674
up €56,674 (+59.0%), from €96,075 to €152,749
- Stocks and contracts -€17,000
down €17,000 (-30.2%), from €56,210 to €39,210
- Trade debts +€39,406
up €39,406 (+45.4%), from €86,830 to €126,236
- Other debts -€17,108
down €17,108 (-29.0%), from €59,026 to €41,918
- Tax, wage and social debts +€11,115
up €11,115 (+93.5%), from €11,890 to €23,005
of which Taxes: +€10,897
- Profit (loss) carried forward +€7,499
up €7,499 (+42.4%), from €17,703 to €25,202
- Gross operating margin -€7,467
down €7,467 (-18.1%), from €41,361 to €33,894
- Taxes -€2,521
down €2,521 (-50.2%), from €5,020 to €2,500
- Staff costs +€2,162
up €2,162 (+10.2%), from €21,127 to €23,288
- Other operating charges -€1,075
down €1,075 (-65.7%), from €1,637 to €562
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 | €181,649 | €222,560 | +€40,911 | +22.5% |
| Current assets | 29/58 | €181,649 | €222,560 | +€40,911 | +22.5% |
| Stocks and contracts in progress | 3 | €56,210 | €39,210 | -€17,000 | -30.2% |
| Stocks | 30/36 | €56,210 | €39,210 | -€17,000 | -30.2% |
| Amounts receivable within one year | 40/41 | €96,075 | €152,749 | +€56,674 | +59.0% |
| Trade receivables | 40 | €96,075 | €152,749 | +€56,674 | +59.0% |
| Cash at bank and in hand | 54/58 | €29,363 | €30,601 | +€1,238 | +4.2% |
| Total equity and liabilities | 10/49 | €181,649 | €222,560 | +€40,911 | +22.5% |
| Equity | 10/15 | €23,903 | €31,402 | +€7,499 | +31.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,703 | €25,202 | +€7,499 | +42.4% |
| Amounts payable | 17/49 | €157,746 | €191,158 | +€33,413 | +21.2% |
| Amounts payable within one year | 42/48 | €157,746 | €191,158 | +€33,413 | +21.2% |
| Trade debts | 44 | €86,830 | €126,236 | +€39,406 | +45.4% |
| Suppliers | 440/4 | €86,830 | €126,236 | +€39,406 | +45.4% |
| Taxes, remuneration and social security | 45 | €11,890 | €23,005 | +€11,115 | +93.5% |
| Taxes | 450/3 | €9,259 | €20,156 | +€10,897 | +118% |
| Remuneration and social security | 454/9 | €2,630 | €2,849 | +€218 | +8.3% |
| Other amounts payable | 47/48 | €59,026 | €41,918 | -€17,108 | -29.0% |
| Remuneration, social security and pensions | 62 | €21,127 | €23,288 | +€2,162 | +10.2% |
| Other operating charges | 640/8 | €1,637 | €562 | -€1,075 | -65.7% |
| Gross operating margin | 9900 | €41,361 | €33,894 | -€7,467 | -18.1% |
| Operating profit (loss) | 9901 | €18,597 | €10,043 | -€8,553 | -46.0% |
| Financial charges | 65/66B | €173 | €45 | -€128 | -74.0% |
| Recurring financial charges | 65 | €173 | €45 | -€128 | -74.0% |
| Profit (loss) for the period before taxes | 9903 | €18,423 | €9,998 | -€8,425 | -45.7% |
| Income taxes | 67/77 | €5,020 | €2,500 | -€2,521 | -50.2% |
| Profit (loss) for the period | 9904 | €13,403 | €7,499 | -€5,904 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,403 | €7,499 | -€5,904 | -44.1% |
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 19 October 2026 via checked.be.