ZURENBORG 19: what changed
ZURENBORG 19
Largest movements
- Cash -€32,537
down €32,537 (-58.9%), from €55,274 to €22,738
mainly Tax, wage and social debts (-€31,110) and Trade debts (-€23,009)
- Receivables within one year -€10,396
down €10,396 (-7.8%), from €132,473 to €122,077
of which Other amounts receivable: -€13,252
- Tangible fixed assets -€5,533
down €5,533 (-18.2%), from €30,427 to €24,895
of which Plant, machinery and equipment: -€10,227
- Tax, wage and social debts -€31,110
down €31,110 (-37.6%), from €82,703 to €51,593
of which Remuneration and social security: -€32,064
- Trade debts -€23,009
down €23,009 (-16.8%), from €137,229 to €114,220
- Profit (loss) carried forward +€21,357
up €21,357 (+13.6%), from -€157,074 to -€135,717
- Other debts -€16,981
down €16,981 (-100%), from €16,981 to €0
- Staff costs -€58,822
down €58,822 (-8.6%), from €680,670 to €621,848
- Taxes -€10,767
new in 2025: -€10,767
- Other operating charges -€6,939
down €6,939 (-47.5%), from €14,624 to €7,684
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 | €225,289 | €175,955 | -€49,334 | -21.9% |
| Fixed assets | 21/28 | €30,495 | €24,963 | -€5,533 | -18.1% |
| Tangible fixed assets | 22/27 | €30,427 | €24,895 | -€5,533 | -18.2% |
| Plant, machinery and equipment | 23 | €22,979 | €12,752 | -€10,227 | -44.5% |
| Furniture and vehicles | 24 | €5,343 | €10,528 | +€5,185 | +97.1% |
| Other tangible fixed assets | 26 | €2,106 | €1,615 | -€491 | -23.3% |
| Financial fixed assets | 28 | €68 | €68 | = | 0.0% |
| Current assets | 29/58 | €194,793 | €150,992 | -€43,801 | -22.5% |
| Stocks and contracts in progress | 3 | €5,020 | €5,020 | = | 0.0% |
| Stocks | 30/36 | €5,020 | €5,020 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €132,473 | €122,077 | -€10,396 | -7.8% |
| Trade receivables | 40 | €1,993 | €4,849 | +€2,855 | +143% |
| Other amounts receivable | 41 | €130,480 | €117,228 | -€13,252 | -10.2% |
| Cash at bank and in hand | 54/58 | €55,274 | €22,738 | -€32,537 | -58.9% |
| Deferred charges and accrued income | 490/1 | €2,027 | €1,159 | -€868 | -42.8% |
| Total equity and liabilities | 10/49 | €225,289 | €175,955 | -€49,334 | -21.9% |
| Equity | 10/15 | -€23,343 | -€1,985 | +€21,357 | +91.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,132 | €115,132 | = | 0.0% |
| Distributable reserves | 133 | €115,132 | €115,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,074 | -€135,717 | +€21,357 | +13.6% |
| Amounts payable | 17/49 | €248,632 | €177,940 | -€70,691 | -28.4% |
| Amounts payable within one year | 42/48 | €248,632 | €177,940 | -€70,691 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €11,719 | €10,445 | -€1,274 | -10.9% |
| Financial debts | 43 | - | €1,682 | +€1,682 | |
| Credit institutions | 430/8 | - | €1,682 | +€1,682 | |
| Trade debts | 44 | €137,229 | €114,220 | -€23,009 | -16.8% |
| Suppliers | 440/4 | €137,229 | €114,220 | -€23,009 | -16.8% |
| Taxes, remuneration and social security | 45 | €82,703 | €51,593 | -€31,110 | -37.6% |
| Taxes | 450/3 | €25,464 | €26,418 | +€954 | +3.7% |
| Remuneration and social security | 454/9 | €57,238 | €25,174 | -€32,064 | -56.0% |
| Other amounts payable | 47/48 | €16,981 | €0 | -€16,981 | -100% |
| Remuneration, social security and pensions | 62 | €680,670 | €621,848 | -€58,822 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,127 | €12,978 | -€1,149 | -8.1% |
| Other operating charges | 640/8 | €14,624 | €7,684 | -€6,939 | -47.5% |
| Gross operating margin | 9900 | €666,924 | €660,779 | -€6,145 | -0.9% |
| Operating profit (loss) | 9901 | -€42,497 | €18,268 | +€60,765 | |
| Financial income | 75/76B | €74 | €1 | -€73 | -98.5% |
| Recurring financial income | 75 | €74 | €1 | -€73 | -98.5% |
| Financial charges | 65/66B | €8,226 | €7,679 | -€547 | -6.7% |
| Recurring financial charges | 65 | €8,226 | €7,679 | -€547 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€50,649 | €10,591 | +€61,240 | |
| Income taxes | 67/77 | - | -€10,767 | -€10,767 | |
| Profit (loss) for the period | 9904 | -€50,649 | €21,357 | +€72,006 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,649 | €21,357 | +€72,006 |
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 7 November 2026 via checked.be.