ZHOU-WU: 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.
ZHOU-WU
Largest movements
- Current investments +€50,242
up €50,242 (+33.4%), from €150,230 to €200,471
- Cash -€9,060
down €9,060 (-66.1%), from €13,708 to €4,647
mainly Current investments (-€50,242) and Trade debts (-€6,885)
- Tangible fixed assets -€6,755
down €6,755 (-32.4%), from €20,856 to €14,101
- Receivables within one year +€5,243
up €5,243 (+7.7%), from €67,808 to €73,051
of which Other amounts receivable: +€7,663
- Reserves +€46,738
up €46,738 (+36.0%), from €129,907 to €176,645
- Trade debts -€6,885
down €6,885 (-58.6%), from €11,744 to €4,859
- Gross operating margin -€44,025
down €44,025 (-36.8%), from €119,773 to €75,748
- Taxes -€14,039
down €14,039 (-36.7%), from €38,235 to €24,196
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 | €252,705 | €292,692 | +€39,987 | +15.8% |
| Fixed assets | 21/28 | €20,856 | €14,101 | -€6,755 | -32.4% |
| Tangible fixed assets | 22/27 | €20,856 | €14,101 | -€6,755 | -32.4% |
| Furniture and vehicles | 24 | €20,856 | €14,101 | -€6,755 | -32.4% |
| Current assets | 29/58 | €231,849 | €278,591 | +€46,742 | +20.2% |
| Amounts receivable within one year | 40/41 | €67,808 | €73,051 | +€5,243 | +7.7% |
| Trade receivables | 40 | €14,520 | €12,100 | -€2,420 | -16.7% |
| Other amounts receivable | 41 | €53,288 | €60,951 | +€7,663 | +14.4% |
| Current investments | 50/53 | €150,230 | €200,471 | +€50,242 | +33.4% |
| Cash at bank and in hand | 54/58 | €13,708 | €4,647 | -€9,060 | -66.1% |
| Deferred charges and accrued income | 490/1 | €104 | €421 | +€317 | +303.8% |
| Total equity and liabilities | 10/49 | €252,705 | €292,692 | +€39,987 | +15.8% |
| Equity | 10/15 | €191,907 | €238,645 | +€46,738 | +24.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €129,907 | €176,645 | +€46,738 | +36.0% |
| Distributable reserves | 133 | €129,907 | €176,645 | +€46,738 | +36.0% |
| Amounts payable | 17/49 | €60,798 | €54,047 | -€6,751 | -11.1% |
| Amounts payable within one year | 42/48 | €60,798 | €54,047 | -€6,751 | -11.1% |
| Trade debts | 44 | €11,744 | €4,859 | -€6,885 | -58.6% |
| Suppliers | 440/4 | €11,744 | €4,859 | -€6,885 | -58.6% |
| Taxes, remuneration and social security | 45 | €10,857 | €9,436 | -€1,421 | -13.1% |
| Taxes | 450/3 | €10,857 | €9,436 | -€1,421 | -13.1% |
| Other amounts payable | 47/48 | €38,198 | €39,752 | +€1,555 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,755 | €6,755 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €119,773 | €75,748 | -€44,025 | -36.8% |
| Operating profit (loss) | 9901 | €112,513 | €68,474 | -€44,039 | -39.1% |
| Financial income | 75/76B | €2,099 | €2,505 | +€406 | +19.4% |
| Recurring financial income | 75 | €2,099 | €2,505 | +€406 | +19.4% |
| Financial charges | 65/66B | €45 | €45 | +€0 | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €114,566 | €70,934 | -€43,633 | -38.1% |
| Income taxes | 67/77 | €38,235 | €24,196 | -€14,039 | -36.7% |
| Profit (loss) for the period | 9904 | €76,332 | €46,738 | -€29,593 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €76,332 | €46,738 | -€29,593 | -38.8% |
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 8 October 2026 via checked.be.