ZIERFUSS: 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.
ZIERFUSS
Largest movements
- Cash +€57,247
up €57,247 (+23.8%), from €240,186 to €297,433
mainly Net result for the year (+€76,956) and Depreciation (+€17,339)
- Tangible fixed assets -€16,076
down €16,076 (-39.6%), from €40,568 to €24,492
- Receivables within one year -€6,533
down €6,533 (-13.5%), from €48,360 to €41,826
of which Other amounts receivable: -€4,544
- Deferred charges and accrued income +€6,275
up €6,275 (+458%), from €1,369 to €7,644
- Reserves +€54,882
up €54,882 (+19.0%), from €288,127 to €343,009
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Tax, wage and social debts +€5,334
up €5,334 (+33.7%), from €15,829 to €21,163
of which Taxes: +€4,921
- Gross operating margin +€25,846
up €25,846 (+14.7%), from €175,748 to €201,594
- Taxes +€6,846
up €6,846 (+28.2%), from €24,269 to €31,115
- Staff costs +€2,877
up €2,877 (+4.2%), from €68,839 to €71,716
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 | €330,482 | €371,395 | +€40,913 | +12.4% |
| Fixed assets | 21/28 | €40,568 | €24,492 | -€16,076 | -39.6% |
| Tangible fixed assets | 22/27 | €40,568 | €24,492 | -€16,076 | -39.6% |
| Furniture and vehicles | 24 | €40,568 | €24,492 | -€16,076 | -39.6% |
| Current assets | 29/58 | €289,914 | €346,903 | +€56,989 | +19.7% |
| Amounts receivable within one year | 40/41 | €48,360 | €41,826 | -€6,533 | -13.5% |
| Trade receivables | 40 | €41,504 | €39,514 | -€1,989 | -4.8% |
| Other amounts receivable | 41 | €6,856 | €2,312 | -€4,544 | -66.3% |
| Cash at bank and in hand | 54/58 | €240,186 | €297,433 | +€57,247 | +23.8% |
| Deferred charges and accrued income | 490/1 | €1,369 | €7,644 | +€6,275 | +458% |
| Total equity and liabilities | 10/49 | €330,482 | €371,395 | +€40,913 | +12.4% |
| Equity | 10/15 | €306,727 | €343,009 | +€36,282 | +11.8% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €288,127 | €343,009 | +€54,882 | +19.0% |
| Distributable reserves | 133 | €288,127 | €343,009 | +€54,882 | +19.0% |
| Amounts payable | 17/49 | €23,756 | €28,386 | +€4,630 | +19.5% |
| Amounts payable within one year | 42/48 | €23,574 | €28,386 | +€4,812 | +20.4% |
| Trade debts | 44 | €696 | €517 | -€180 | -25.8% |
| Suppliers | 440/4 | €696 | €517 | -€180 | -25.8% |
| Taxes, remuneration and social security | 45 | €15,829 | €21,163 | +€5,334 | +33.7% |
| Taxes | 450/3 | €7,789 | €12,710 | +€4,921 | +63.2% |
| Remuneration and social security | 454/9 | €8,040 | €8,453 | +€413 | +5.1% |
| Other amounts payable | 47/48 | €7,049 | €6,706 | -€343 | -4.9% |
| Accrued charges and deferred income | 492/3 | €182 | - | -€182 | |
| Remuneration, social security and pensions | 62 | €68,839 | €71,716 | +€2,877 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,506 | €17,339 | +€833 | +5.0% |
| Other operating charges | 640/8 | €4,723 | €4,397 | -€326 | -6.9% |
| Gross operating margin | 9900 | €175,748 | €201,594 | +€25,846 | +14.7% |
| Operating profit (loss) | 9901 | €85,681 | €108,143 | +€22,462 | +26.2% |
| Financial income | 75/76B | €0 | €20 | +€19 | +8,100% |
| Recurring financial income | 75 | €0 | €20 | +€19 | +8,100% |
| Financial charges | 65/66B | €168 | €91 | -€77 | -45.6% |
| Recurring financial charges | 65 | €168 | €91 | -€77 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €85,513 | €108,072 | +€22,558 | +26.4% |
| Income taxes | 67/77 | €24,269 | €31,115 | +€6,846 | +28.2% |
| Profit (loss) for the period | 9904 | €61,244 | €76,956 | +€15,712 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,244 | €76,956 | +€15,712 | +25.7% |
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 25 October 2026 via checked.be.