ZUS: 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.
ZUS
Largest movements
- Cash +€15,496
up €15,496 (+81.3%), from €19,058 to €34,554
mainly Trade debts (+€16,103) and Other debts (+€7,328)
- Tangible fixed assets -€4,922
down €4,922 (-31.8%), from €15,487 to €10,565
of which Land and buildings: -€3,873
- Receivables within one year -€2,369
down €2,369 (-33.4%), from €7,091 to €4,722
of which Trade receivables: -€3,575
- Stocks and contracts +€1,981
up €1,981 (+9.9%), from €19,972 to €21,953
- Trade debts +€16,103
up €16,103 (+220.9%), from €7,289 to €23,392
- Other debts +€7,328
up €7,328 (+82.8%), from €8,846 to €16,174
- Current portion of long-term debt -€6,974
down €6,974 (-74.7%), from €9,331 to €2,356
- Tax, wage and social debts -€5,280
down €5,280 (-57.3%), from €9,222 to €3,942
of which Remuneration and social security: -€5,548
- Debts after one year -€2,356
no longer reported in 2025 (was €2,356)
- Staff costs +€15,870
up €15,870 (+51.6%), from €30,736 to €46,607
- Gross operating margin +€9,697
up €9,697 (+20.5%), from €47,360 to €57,058
- Taxes -€1,129
down €1,129 (-50.5%), from €2,238 to €1,109
- Financial charges +€1,099
up €1,099 (+85.0%), from €1,293 to €2,391
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.
Cash bridge derived
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 | €70,291 | €79,726 | +€9,435 | +13.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €16,250 | €11,328 | -€4,922 | -30.3% |
| Tangible fixed assets | 22/27 | €15,487 | €10,565 | -€4,922 | -31.8% |
| Land and buildings | 22 | €13,275 | €9,402 | -€3,873 | -29.2% |
| Plant, machinery and equipment | 23 | €1,853 | €1,010 | -€843 | -45.5% |
| Furniture and vehicles | 24 | €360 | €153 | -€206 | -57.4% |
| Financial fixed assets | 28 | €763 | €763 | = | 0.0% |
| Current assets | 29/58 | €54,041 | €68,398 | +€14,357 | +26.6% |
| Stocks and contracts in progress | 3 | €19,972 | €21,953 | +€1,981 | +9.9% |
| Stocks | 30/36 | €19,972 | €21,953 | +€1,981 | +9.9% |
| Amounts receivable within one year | 40/41 | €7,091 | €4,722 | -€2,369 | -33.4% |
| Trade receivables | 40 | €6,035 | €2,460 | -€3,575 | -59.2% |
| Other amounts receivable | 41 | €1,057 | €2,263 | +€1,206 | +114.1% |
| Cash at bank and in hand | 54/58 | €19,058 | €34,554 | +€15,496 | +81.3% |
| Deferred charges and accrued income | 490/1 | €7,920 | €7,169 | -€752 | -9.5% |
| Total equity and liabilities | 10/49 | €70,291 | €79,726 | +€9,435 | +13.4% |
| Equity | 10/15 | €33,248 | €33,862 | +€614 | +1.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,248 | €31,862 | +€614 | +2.0% |
| Amounts payable | 17/49 | €37,043 | €45,864 | +€8,821 | +23.8% |
| Amounts payable after more than one year | 17 | €2,356 | - | -€2,356 | |
| Financial debts | 170/4 | €2,356 | - | -€2,356 | |
| Amounts payable within one year | 42/48 | €34,687 | €45,864 | +€11,177 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €9,331 | €2,356 | -€6,974 | -74.7% |
| Trade debts | 44 | €7,289 | €23,392 | +€16,103 | +220.9% |
| Suppliers | 440/4 | €7,289 | €23,392 | +€16,103 | +220.9% |
| Taxes, remuneration and social security | 45 | €9,222 | €3,942 | -€5,280 | -57.3% |
| Taxes | 450/3 | - | €268 | +€268 | |
| Remuneration and social security | 454/9 | €9,222 | €3,674 | -€5,548 | -60.2% |
| Other amounts payable | 47/48 | €8,846 | €16,174 | +€7,328 | +82.8% |
| Remuneration, social security and pensions | 62 | €30,736 | €46,607 | +€15,870 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,070 | €4,922 | -€148 | -2.9% |
| Other operating charges | 640/8 | €1,198 | €1,517 | +€319 | +26.7% |
| Gross operating margin | 9900 | €47,360 | €57,058 | +€9,697 | +20.5% |
| Operating profit (loss) | 9901 | €10,357 | €4,012 | -€6,344 | -61.3% |
| Financial income | 75/76B | €0 | €102 | +€102 | |
| Recurring financial income | 75 | €0 | €102 | +€102 | |
| Financial charges | 65/66B | €1,293 | €2,391 | +€1,099 | +85.0% |
| Recurring financial charges | 65 | €1,293 | €2,391 | +€1,099 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €9,064 | €1,723 | -€7,341 | -81.0% |
| Income taxes | 67/77 | €2,238 | €1,109 | -€1,129 | -50.5% |
| Profit (loss) for the period | 9904 | €6,826 | €614 | -€6,212 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,826 | €614 | -€6,212 | -91.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.