ZS SANITAIRE: what changed
ZS SANITAIRE
Largest movements
- Receivables within one year +€12,119
up €12,119 (+10.4%), from €116,238 to €128,357
of which Other amounts receivable: +€22,243
- Cash -€1,582
down €1,582 (-39.6%), from €3,991 to €2,409
mainly Trade debts (-€17,852) and Receivables within one year (-€12,119)
- Profit (loss) carried forward +€29,577
up €29,577 (+38.8%), from €76,273 to €105,850
- Trade debts -€17,852
down €17,852 (-95.2%), from €18,761 to €908
- Other debts -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts +€10,144
up €10,144 (+162%), from €6,264 to €16,408
of which Taxes: +€10,452
- Gross operating margin +€42,640
up €42,640 (+159%), from €26,868 to €69,508
- Other operating charges +€15,861
new in 2025: €15,861
- Financial income -€7,404
down €7,404 (-100.0%), from €7,404 to €0
of which Non-recurring financial income: -€7,404
- Taxes +€4,762
up €4,762 (+74.1%), from €6,429 to €11,191
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,397 | €131,266 | +€9,869 | +8.1% |
| Fixed assets | 21/28 | €1,168 | €500 | -€668 | -57.2% |
| Tangible fixed assets | 22/27 | €668 | - | -€668 | |
| Furniture and vehicles | 24 | €668 | - | -€668 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €120,229 | €130,766 | +€10,537 | +8.8% |
| Amounts receivable within one year | 40/41 | €116,238 | €128,357 | +€12,119 | +10.4% |
| Trade receivables | 40 | €20,982 | €10,858 | -€10,124 | -48.3% |
| Other amounts receivable | 41 | €95,256 | €117,499 | +€22,243 | +23.4% |
| Cash at bank and in hand | 54/58 | €3,991 | €2,409 | -€1,582 | -39.6% |
| Total equity and liabilities | 10/49 | €121,397 | €131,266 | +€9,869 | +8.1% |
| Equity | 10/15 | €84,373 | €113,950 | +€29,577 | +35.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,273 | €105,850 | +€29,577 | +38.8% |
| Amounts payable | 17/49 | €37,024 | €17,316 | -€19,708 | -53.2% |
| Amounts payable within one year | 42/48 | €37,024 | €17,316 | -€19,708 | -53.2% |
| Trade debts | 44 | €18,761 | €908 | -€17,852 | -95.2% |
| Suppliers | 440/4 | €18,761 | €908 | -€17,852 | -95.2% |
| Taxes, remuneration and social security | 45 | €6,264 | €16,408 | +€10,144 | +162% |
| Taxes | 450/3 | €5,956 | €16,408 | +€10,452 | +175% |
| Remuneration and social security | 454/9 | €307 | - | -€307 | |
| Other amounts payable | 47/48 | €12,000 | - | -€12,000 | |
| Non-recurring operating income | 76A | €457 | - | -€457 | |
| Remuneration, social security and pensions | 62 | - | €80 | +€80 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €666 | €668 | +€2 | +0.3% |
| Other operating charges | 640/8 | - | €15,861 | +€15,861 | |
| Gross operating margin | 9900 | €26,868 | €69,508 | +€42,640 | +159% |
| Operating profit (loss) | 9901 | €26,202 | €52,900 | +€26,697 | +102% |
| Financial income | 75/76B | €7,404 | €0 | -€7,404 | -100.0% |
| Recurring financial income | 75 | €7,404 | €0 | -€7,404 | -100.0% |
| Non-recurring financial income | 76B | €7,404 | - | -€7,404 | |
| Financial charges | 65/66B | €378 | €132 | -€246 | -65.1% |
| Recurring financial charges | 65 | €378 | €132 | -€246 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €33,228 | €52,768 | +€19,540 | +58.8% |
| Income taxes | 67/77 | €6,429 | €11,191 | +€4,762 | +74.1% |
| Profit (loss) for the period | 9904 | €26,800 | €41,577 | +€14,778 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,800 | €41,577 | +€14,778 | +55.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.