Ziegler: 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.
What changed
Ziegler
NACE 95.311, General maintenance and repair of cars and light vans (up to 3.5 tonnes)
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€1.6m
2023 · -€1.2m-€423,387
Equity
€26.1m
2023 · €22.7m+€3.4m
Cash
€433,855
2023 · €2.3m-€1.9m
Balance sheet total
€120.6m
2023 · €120.5m+€81,072
Largest movements
Assets
- Tangible fixed assets -€6.8m
down €6.8m (-22.2%), from €30.6m to €23.8m
of which Leasing and similar rights: -€5.0m
- Receivables within one year +€4.2m
up €4.2m (+7.0%), from €60.3m to €64.6m
of which Trade receivables: +€4.8m
- Financial fixed assets +€3.6m
up €3.6m (+15.5%), from €23.1m to €26.7m
of which Affiliated companies: +€3.6m
- Cash -€1.9m
down €1.9m (-81.1%), from €2.3m to €433,855
mainly Debts after one year (-€6.8m) and Receivables within one year (-€4.2m)
Equity and liabilities
- Debts after one year -€6.8m
down €6.8m (-28.8%), from €23.6m to €16.8m
of which Financial debts: -€6.8m
- Contributions +€5.0m
up €5.0m (+26.8%), from €18.7m to €23.7m
of which Capital: +€5.0m
- Tax, wage and social debts +€2.3m
up €2.3m (+22.8%), from €9.9m to €12.1m
of which Taxes: +€2.3m
- Short-term financial debts +€1.8m
up €1.8m (+9.1%), from €19.8m to €21.6m
- Reserves -€1.5m
down €1.5m (-11.7%), from €12.5m to €11.0m
of which Tax-exempt reserves: -€1.5m
Income statement
- Turnover -€9.1m
down €9.1m (-6.6%), from €138.5m to €129.4m
- Goods and materials -€5.1m
down €5.1m (-5.0%), from €102.5m to €97.4m
of which Purchases: -€5.1m
- Staff costs -€1.7m
down €1.7m (-7.0%), from €24.7m to €22.9m
- Services and other goods +€1.5m
up €1.5m (+7.5%), from €20.0m to €21.5m
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.
Result 2023
-€1.2m
Turnover
-€9.1m
Other operating income
+€1.2m
Goods and materials
+€5.1m
Services and other goods
-€1.5m
Staff costs
+€1.7m
Depreciation
+€140,607
Write-downs
-€44,080
Other operating charges
-€36,314
Other operating items
+€2.7m
Financial income
-€182,810
Financial charges
-€452,881
Taxes
-€289,456
Deferred taxes and other
+€261,549
Result 2024
-€1.6m
Cash bridge derived
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.
From operations
-€2.5m
Investment
+€924,600
Financing
-€268,690
Cash 2023
€2.3m
From operations (derived)
-€2.5m
Net result for the year
-€1.6m
Depreciation
+€2.3m
Stocks and contracts
+€1,926
Receivables within one year
-€4.2m
Deferred charges and accrued income
-€915,689
Provisions
-€485,423
Trade debts
+€448,213
Tax, wage and social debts
+€2.3m
Other debts
-€540,719
Accrued charges and deferred income
+€268,606
Investment (derived)
+€924,600
Investment in fixed assets (net)
+€924,600
Financing
-€268,690
Debts after one year
-€6.8m
Current portion of long-term debt
-€293,284
Short-term financial debts
+€1.8m
Contributions, distributions and other
+€5.0m
Cash 2024
€433,855
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,529,731 | €120,610,803 | +€81,072 | +0.1% |
| Fixed assets | 21/28 | €53,661,677 | €50,441,686 | -€3.2m | -6.0% |
| Intangible fixed assets | 21 | €5,007 | €2,580 | -€2,428 | -48.5% |
| Tangible fixed assets | 22/27 | €30,571,438 | €23,786,988 | -€6.8m | -22.2% |
| Land and buildings | 22 | €8,549,944 | €8,000,022 | -€549,922 | -6.4% |
| Plant, machinery and equipment | 23 | €1,654,182 | €1,684,471 | +€30,288 | +1.8% |
| Furniture and vehicles | 24 | €433,875 | €507,169 | +€73,294 | +16.9% |
| Leasing and similar rights | 25 | €15,619,624 | €10,644,827 | -€5.0m | -31.8% |
| Other tangible fixed assets | 26 | €4,215,129 | €2,950,500 | -€1.3m | -30.0% |
| Assets under construction and advance payments | 27 | €98,683 | €0 | -€98,683 | -100.0% |
| Financial fixed assets | 28 | €23,085,232 | €26,652,118 | +€3.6m | +15.5% |
| Affiliated companies | 280/1 | €22,967,314 | €26,524,768 | +€3.6m | +15.5% |
| Participating interests | 280 | €20,037,256 | €23,594,710 | +€3.6m | +17.8% |
| Amounts receivable | 281 | €2,930,058 | €2,930,058 | = | 0.0% |
| Other financial fixed assets | 284/8 | €117,919 | €127,351 | +€9,432 | +8.0% |
| Shares | 284 | €15,538 | €16,256 | +€718 | +4.6% |
| Amounts receivable and cash guarantees | 285/8 | €102,381 | €111,095 | +€8,714 | +8.5% |
| Current assets | 29/58 | €66,868,054 | €70,169,118 | +€3.3m | +4.9% |
| Stocks and contracts in progress | 3 | €157,882 | €155,956 | -€1,926 | -1.2% |
| Stocks | 30/36 | €157,882 | €155,956 | -€1,926 | -1.2% |
| Raw materials and consumables | 30/31 | €157,882 | €155,956 | -€1,926 | -1.2% |
| Amounts receivable within one year | 40/41 | €60,338,678 | €64,585,172 | +€4.2m | +7.0% |
| Trade receivables | 40 | €31,317,355 | €36,113,105 | +€4.8m | +15.3% |
| Other amounts receivable | 41 | €29,021,324 | €28,472,068 | -€549,256 | -1.9% |
| Cash at bank and in hand | 54/58 | €2,293,048 | €433,855 | -€1.9m | -81.1% |
| Deferred charges and accrued income | 490/1 | €4,078,445 | €4,994,134 | +€915,689 | +22.5% |
| Total equity and liabilities | 10/49 | €120,529,731 | €120,610,803 | +€81,072 | +0.1% |
| Equity | 10/15 | €22,653,981 | €26,062,158 | +€3.4m | +15.0% |
| Contributions | 10/11 | €18,679,076 | €23,680,219 | +€5.0m | +26.8% |
| Capital | 10 | €14,998,857 | €20,000,000 | +€5.0m | +33.3% |
| Issued capital | 100 | €14,998,857 | €20,000,000 | +€5.0m | +33.3% |
| Outside capital | 11 | €3,680,219 | €3,680,219 | = | 0.0% |
| Share premium | 1100/10 | €3,680,219 | €3,680,219 | = | 0.0% |
| Reserves | 13 | €12,466,889 | €11,010,619 | -€1.5m | -11.7% |
| Non-distributable reserves | 130/1 | €1,635,000 | €1,635,000 | = | 0.0% |
| Legal reserve | 130 | €1,635,000 | €1,635,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,102,574 | €8,646,304 | -€1.5m | -14.4% |
| Distributable reserves | 133 | €729,316 | €729,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,491,984 | -€8,628,680 | -€136,696 | -1.6% |
| Provisions and deferred taxes | 16 | €3,306,884 | €2,821,461 | -€485,423 | -14.7% |
| Provisions for liabilities and charges | 160/5 | €2,663 | €2,663 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,663 | €2,663 | = | 0.0% |
| Deferred taxes | 168 | €3,304,221 | €2,818,798 | -€485,423 | -14.7% |
| Amounts payable | 17/49 | €94,568,866 | €91,727,184 | -€2.8m | -3.0% |
| Amounts payable after more than one year | 17 | €23,560,726 | €16,784,822 | -€6.8m | -28.8% |
| Financial debts | 170/4 | €23,543,015 | €16,767,110 | -€6.8m | -28.8% |
| Subordinated loans | 170 | €0 | - | = | |
| Leasing and similar obligations | 172 | €11,975,559 | €6,897,435 | -€5.1m | -42.4% |
| Credit institutions | 173 | €8,567,456 | €6,869,676 | -€1.7m | -19.8% |
| Other loans | 174 | €3,000,000 | €3,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €17,711 | €17,711 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,754,062 | €73,419,679 | +€3.7m | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €3,326,151 | €3,032,867 | -€293,284 | -8.8% |
| Financial debts | 43 | €19,759,427 | €21,558,782 | +€1.8m | +9.1% |
| Credit institutions | 430/8 | €19,759,427 | €21,558,782 | +€1.8m | +9.1% |
| Trade debts | 44 | €32,171,156 | €32,619,368 | +€448,213 | +1.4% |
| Suppliers | 440/4 | €32,171,156 | €32,619,368 | +€448,213 | +1.4% |
| Taxes, remuneration and social security | 45 | €9,856,040 | €12,108,092 | +€2.3m | +22.8% |
| Taxes | 450/3 | €3,045,451 | €5,302,037 | +€2.3m | +74.1% |
| Remuneration and social security | 454/9 | €6,810,589 | €6,806,055 | -€4,534 | -0.1% |
| Other amounts payable | 47/48 | €4,641,289 | €4,100,570 | -€540,719 | -11.7% |
| Accrued charges and deferred income | 492/3 | €1,254,077 | €1,522,683 | +€268,606 | +21.4% |
| Operating income | 70/76A | €150,530,785 | €145,371,385 | -€5.2m | -3.4% |
| Turnover | 70 | €138,454,340 | €129,373,225 | -€9.1m | -6.6% |
| Other operating income | 74 | €12,042,930 | €13,206,581 | +€1.2m | +9.7% |
| Non-recurring operating income | 76A | €33,515 | €2,791,580 | +€2.8m | +8229.4% |
| Operating charges | 60/66A | €150,658,916 | €145,259,305 | -€5.4m | -3.6% |
| Goods for resale, raw materials and consumables | 60 | €102,477,833 | €97,354,368 | -€5.1m | -5.0% |
| Purchases | 600/8 | €102,428,611 | €97,364,463 | -€5.1m | -4.9% |
| Change in stocks: decrease (increase) | 609 | €49,223 | -€10,095 | -€59,318 | |
| Services and other goods | 61 | €20,010,356 | €21,506,148 | +€1.5m | +7.5% |
| Remuneration, social security and pensions | 62 | €24,657,349 | €22,932,847 | -€1.7m | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,435,998 | €2,295,392 | -€140,607 | -5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €99,107 | €143,187 | +€44,080 | +44.5% |
| Other operating charges | 640/8 | €978,272 | €1,014,586 | +€36,314 | +3.7% |
| Non-recurring operating charges | 66A | €0 | €12,777 | +€12,777 | |
| Operating profit (loss) | 9901 | -€128,131 | €112,080 | +€240,211 | |
| Financial income | 75/76B | €1,384,025 | €1,201,215 | -€182,810 | -13.2% |
| Recurring financial income | 75 | €1,384,025 | €1,182,113 | -€201,912 | -14.6% |
| Income from current assets | 751 | €789,456 | €747,115 | -€42,342 | -5.4% |
| Other financial income | 752/9 | €594,569 | €434,998 | -€159,571 | -26.8% |
| Non-recurring financial income | 76B | €0 | €19,102 | +€19,102 | |
| Financial charges | 65/66B | €2,540,160 | €2,993,041 | +€452,881 | +17.8% |
| Recurring financial charges | 65 | €2,540,160 | €2,993,040 | +€452,880 | +17.8% |
| Debt charges | 650 | €1,503,738 | €2,112,941 | +€609,203 | +40.5% |
| Other financial charges | 652/9 | €1,036,422 | €880,099 | -€156,323 | -15.1% |
| Non-recurring financial charges | 66B | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | -€1,284,265 | -€1,679,746 | -€395,480 | -30.8% |
| Transfer from deferred taxes | 780 | €223,874 | €1,168,501 | +€944,627 | +421.9% |
| Transfer to deferred taxes | 680 | - | €683,078 | +€683,078 | |
| Income taxes | 67/77 | €109,188 | €398,644 | +€289,456 | +265.1% |
| Taxes | 670/3 | €109,188 | €398,644 | +€289,456 | +265.1% |
| Profit (loss) for the period | 9904 | -€1,169,579 | -€1,592,966 | -€423,387 | -36.2% |
| Transfer from tax-exempt reserves | 789 | €671,623 | €3,505,503 | +€2.8m | +421.9% |
| Transfer to tax-exempt reserves | 689 | - | €2,049,233 | +€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€497,956 | -€136,696 | +€361,260 | +72.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.