Zhu-Su: 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.
Zhu-Su
Largest movements
- Tangible fixed assets -€33,082
down €33,082 (-34.9%), from €94,868 to €61,785
of which Other tangible fixed assets: -€17,318
- Cash -€23,990
down €23,990 (-39.9%), from €60,093 to €36,103
mainly Current portion of long-term debt (-€17,780) and Net result for the year (-€14,178)
- Receivables after one year -€5,000
down €5,000 (-100%), from €5,000 to €0
- Deferred charges and accrued income -€3,174
down €3,174 (-79.5%), from €3,995 to €820
- Receivables within one year -€2,794
down €2,794 (-6.6%), from €42,270 to €39,476
of which Trade receivables: -€25,880
- Current portion of long-term debt -€17,780
down €17,780 (-63.1%), from €28,189 to €10,408
- Reserves -€14,178
down €14,178 (-22.9%), from €61,887 to €47,709
- Trade debts -€14,022
down €14,022 (-26.4%), from €53,146 to €39,124
- Debts after one year -€10,408
down €10,408 (-100%), from €10,408 to €0
- Tax, wage and social debts -€8,167
down €8,167 (-17.5%), from €46,641 to €38,474
of which Remuneration and social security: -€7,613
- Gross operating margin -€58,887
down €58,887 (-24.2%), from €243,275 to €184,389
- Staff costs -€29,762
down €29,762 (-17.0%), from €174,609 to €144,847
- Other operating charges +€6,773
up €6,773 (+104%), from €6,529 to €13,301
- Depreciation -€5,204
down €5,204 (-12.6%), from €41,296 to €36,092
- Taxes -€4,796
down €4,796 (-78.7%), from €6,090 to €1,295
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 | €212,156 | €144,115 | -€68,040 | -32.1% |
| Fixed assets | 21/28 | €97,298 | €64,215 | -€33,082 | -34.0% |
| Tangible fixed assets | 22/27 | €94,868 | €61,785 | -€33,082 | -34.9% |
| Plant, machinery and equipment | 23 | €7,023 | €4,105 | -€2,919 | -41.6% |
| Furniture and vehicles | 24 | €26,485 | €19,240 | -€7,245 | -27.4% |
| Leasing and similar rights | 25 | €5,600 | €0 | -€5,600 | -100% |
| Other tangible fixed assets | 26 | €55,759 | €38,441 | -€17,318 | -31.1% |
| Financial fixed assets | 28 | €2,430 | €2,430 | = | 0.0% |
| Current assets | 29/58 | €114,858 | €79,900 | -€34,958 | -30.4% |
| Amounts receivable after more than one year | 29 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts receivable | 291 | €5,000 | €0 | -€5,000 | -100% |
| Stocks and contracts in progress | 3 | €3,500 | €3,500 | = | 0.0% |
| Stocks | 30/36 | €3,500 | €3,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,270 | €39,476 | -€2,794 | -6.6% |
| Trade receivables | 40 | €38,959 | €13,079 | -€25,880 | -66.4% |
| Other amounts receivable | 41 | €3,311 | €26,397 | +€23,086 | +697% |
| Cash at bank and in hand | 54/58 | €60,093 | €36,103 | -€23,990 | -39.9% |
| Deferred charges and accrued income | 490/1 | €3,995 | €820 | -€3,174 | -79.5% |
| Total equity and liabilities | 10/49 | €212,156 | €144,115 | -€68,040 | -32.1% |
| Equity | 10/15 | €68,087 | €53,909 | -€14,178 | -20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,887 | €47,709 | -€14,178 | -22.9% |
| Distributable reserves | 133 | €61,887 | €47,709 | -€14,178 | -22.9% |
| Amounts payable | 17/49 | €144,069 | €90,207 | -€53,862 | -37.4% |
| Amounts payable after more than one year | 17 | €10,408 | €0 | -€10,408 | -100% |
| Financial debts | 170/4 | €10,408 | €0 | -€10,408 | -100% |
| Amounts payable within one year | 42/48 | €132,376 | €90,207 | -€42,170 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €28,189 | €10,408 | -€17,780 | -63.1% |
| Trade debts | 44 | €53,146 | €39,124 | -€14,022 | -26.4% |
| Suppliers | 440/4 | €53,146 | €39,124 | -€14,022 | -26.4% |
| Taxes, remuneration and social security | 45 | €46,641 | €38,474 | -€8,167 | -17.5% |
| Taxes | 450/3 | €21,952 | €21,398 | -€554 | -2.5% |
| Remuneration and social security | 454/9 | €24,689 | €17,076 | -€7,613 | -30.8% |
| Other amounts payable | 47/48 | €4,400 | €2,200 | -€2,200 | -50.0% |
| Accrued charges and deferred income | 492/3 | €1,284 | €0 | -€1,284 | -100% |
| Remuneration, social security and pensions | 62 | €174,609 | €144,847 | -€29,762 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,296 | €36,092 | -€5,204 | -12.6% |
| Other operating charges | 640/8 | €6,529 | €13,301 | +€6,773 | +104% |
| Gross operating margin | 9900 | €243,275 | €184,389 | -€58,887 | -24.2% |
| Operating profit (loss) | 9901 | €20,841 | -€9,852 | -€30,693 | |
| Financial income | 75/76B | €266 | €823 | +€557 | +210% |
| Recurring financial income | 75 | €266 | €823 | +€557 | +210% |
| Financial charges | 65/66B | €5,849 | €3,854 | -€1,994 | -34.1% |
| Recurring financial charges | 65 | €5,849 | €3,854 | -€1,994 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €15,258 | -€12,884 | -€28,141 | |
| Income taxes | 67/77 | €6,090 | €1,295 | -€4,796 | -78.7% |
| Profit (loss) for the period | 9904 | €9,167 | -€14,178 | -€23,346 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,167 | -€14,178 | -€23,346 |
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 29 October 2026 via checked.be.