ZHOU & Fils: 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.
ZHOU & Fils
Largest movements
- Tangible fixed assets +€111,873
up €111,873 (+70.0%), from €159,847 to €271,719
of which Other tangible fixed assets: +€128,170
- Receivables within one year +€37,023
up €37,023 (+437%), from €8,468 to €45,491
of which Other amounts receivable: +€43,853
- Cash -€7,861
down €7,861 (-18.7%), from €41,931 to €34,071
mainly Investment in fixed assets (net) (-€157,306) and Other debts (-€38,178)
- Financial fixed assets +€7,000
up €7,000 (+205%), from €3,420 to €10,420
- Stocks and contracts -€6,251
down €6,251 (-59.5%), from €10,501 to €4,250
- Trade debts +€85,253
up €85,253 (+241%), from €35,370 to €120,622
- Profit (loss) carried forward +€47,409
up €47,409, from -€10,625 to €36,783
- Other debts -€38,178
down €38,178 (-36.3%), from €105,157 to €66,979
- Tax, wage and social debts +€27,957
up €27,957 (+58.8%), from €47,509 to €75,467
of which Remuneration and social security: +€26,582
- Accrued charges and deferred income +€17,630
up €17,630 (+126%), from €14,000 to €31,630
- Gross operating margin +€189,280
up €189,280 (+104%), from €181,264 to €370,544
- Staff costs +€133,021
up €133,021 (+155%), from €85,823 to €218,844
- Depreciation +€26,674
up €26,674 (+169%), from €15,760 to €42,434
- Taxes +€10,628
up €10,628 (+10,174%), from €104 to €10,732
- Financial charges -€4,609
down €4,609 (-43.0%), from €10,710 to €6,100
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 | €245,358 | €385,429 | +€140,071 | +57.1% |
| Fixed assets | 21/28 | €182,217 | €297,090 | +€114,873 | +63.0% |
| Intangible fixed assets | 21 | €18,951 | €14,951 | -€4,000 | -21.1% |
| Tangible fixed assets | 22/27 | €159,847 | €271,719 | +€111,873 | +70.0% |
| Land and buildings | 22 | €32,258 | €31,627 | -€631 | -2.0% |
| Plant, machinery and equipment | 23 | €102,479 | €89,293 | -€13,186 | -12.9% |
| Furniture and vehicles | 24 | €11,165 | €8,685 | -€2,480 | -22.2% |
| Other tangible fixed assets | 26 | €13,944 | €142,114 | +€128,170 | +919% |
| Financial fixed assets | 28 | €3,420 | €10,420 | +€7,000 | +205% |
| Current assets | 29/58 | €63,141 | €88,339 | +€25,198 | +39.9% |
| Stocks and contracts in progress | 3 | €10,501 | €4,250 | -€6,251 | -59.5% |
| Stocks | 30/36 | €10,501 | €4,250 | -€6,251 | -59.5% |
| Amounts receivable within one year | 40/41 | €8,468 | €45,491 | +€37,023 | +437% |
| Trade receivables | 40 | €8,195 | €1,365 | -€6,830 | -83.3% |
| Other amounts receivable | 41 | €274 | €44,127 | +€43,853 | +16,010% |
| Cash at bank and in hand | 54/58 | €41,931 | €34,071 | -€7,861 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,241 | €4,527 | +€2,287 | +102% |
| Total equity and liabilities | 10/49 | €245,358 | €385,429 | +€140,071 | +57.1% |
| Equity | 10/15 | €7,975 | €55,383 | +€47,409 | +595% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,625 | €36,783 | +€47,409 | |
| Amounts payable | 17/49 | €237,384 | €330,046 | +€92,662 | +39.0% |
| Amounts payable within one year | 42/48 | €223,384 | €298,416 | +€75,032 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €35,347 | €35,347 | = | 0.0% |
| Trade debts | 44 | €35,370 | €120,622 | +€85,253 | +241% |
| Suppliers | 440/4 | €35,370 | €120,622 | +€85,253 | +241% |
| Taxes, remuneration and social security | 45 | €47,509 | €75,467 | +€27,957 | +58.8% |
| Taxes | 450/3 | €29,001 | €30,376 | +€1,375 | +4.7% |
| Remuneration and social security | 454/9 | €18,508 | €45,091 | +€26,582 | +144% |
| Other amounts payable | 47/48 | €105,157 | €66,979 | -€38,178 | -36.3% |
| Accrued charges and deferred income | 492/3 | €14,000 | €31,630 | +€17,630 | +126% |
| Remuneration, social security and pensions | 62 | €85,823 | €218,844 | +€133,021 | +155% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,760 | €42,434 | +€26,674 | +169% |
| Other operating charges | 640/8 | €6,239 | €8,409 | +€2,170 | +34.8% |
| Non-recurring operating charges | 66A | €19,758 | €36,617 | +€16,859 | +85.3% |
| Gross operating margin | 9900 | €181,264 | €370,544 | +€189,280 | +104% |
| Operating profit (loss) | 9901 | €53,684 | €64,239 | +€10,555 | +19.7% |
| Financial income | 75/76B | €3 | €2 | -€1 | -23.6% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -23.6% |
| Financial charges | 65/66B | €10,710 | €6,100 | -€4,609 | -43.0% |
| Recurring financial charges | 65 | €10,710 | €6,100 | -€4,609 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €42,976 | €58,141 | +€15,164 | +35.3% |
| Income taxes | 67/77 | €104 | €10,732 | +€10,628 | +10,174% |
| Profit (loss) for the period | 9904 | €42,872 | €47,409 | +€4,537 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,872 | €47,409 | +€4,537 | +10.6% |
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 24 October 2026 via checked.be.