Zus & Co: 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.
Zus & Co
Largest movements
- Tangible fixed assets +€87,209
up €87,209 (+487%), from €17,906 to €105,115
of which Assets under construction and advance payments: +€88,718
- Receivables within one year +€41,770
up €41,770 (+124%), from €33,737 to €75,507
of which Other amounts receivable: +€47,291
- Cash -€22,911
down €22,911 (-23.7%), from €96,594 to €73,684
mainly Investment in fixed assets (net) (-€92,039) and Receivables within one year (-€41,770)
- Debts after one year +€42,322
new in 2025: €42,322
- Reserves +€35,000
up €35,000 (+70.0%), from €50,000 to €85,000
- Trade debts +€18,856
up €18,856 (+89.7%), from €21,030 to €39,886
- Current portion of long-term debt +€11,299
up €11,299, from €0 to €11,299
- Gross operating margin +€19,426
up €19,426 (+8.7%), from €222,072 to €241,498
- Taxes +€9,178
up €9,178 (+182%), from €5,052 to €14,230
- Staff costs -€5,861
down €5,861 (-3.1%), from €186,693 to €180,832
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 | €160,204 | €268,809 | +€108,605 | +67.8% |
| Fixed assets | 21/28 | €17,906 | €105,115 | +€87,209 | +487% |
| Tangible fixed assets | 22/27 | €17,906 | €105,115 | +€87,209 | +487% |
| Plant, machinery and equipment | 23 | €0 | €2,837 | +€2,837 | |
| Furniture and vehicles | 24 | €14,767 | €11,142 | -€3,625 | -24.5% |
| Other tangible fixed assets | 26 | €3,139 | €2,417 | -€722 | -23.0% |
| Assets under construction and advance payments | 27 | - | €88,718 | +€88,718 | |
| Current assets | 29/58 | €142,297 | €163,693 | +€21,396 | +15.0% |
| Stocks and contracts in progress | 3 | €8,813 | €10,408 | +€1,595 | +18.1% |
| Stocks | 30/36 | €8,813 | €10,408 | +€1,595 | +18.1% |
| Amounts receivable within one year | 40/41 | €33,737 | €75,507 | +€41,770 | +124% |
| Trade receivables | 40 | €8,255 | €2,733 | -€5,522 | -66.9% |
| Other amounts receivable | 41 | €25,482 | €72,773 | +€47,291 | +186% |
| Cash at bank and in hand | 54/58 | €96,594 | €73,684 | -€22,911 | -23.7% |
| Deferred charges and accrued income | 490/1 | €3,153 | €4,095 | +€942 | +29.9% |
| Total equity and liabilities | 10/49 | €160,204 | €268,809 | +€108,605 | +67.8% |
| Equity | 10/15 | €68,141 | €102,589 | +€34,448 | +50.6% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €85,000 | +€35,000 | +70.0% |
| Distributable reserves | 133 | €50,000 | €85,000 | +€35,000 | +70.0% |
| Profit (loss) carried forward | 14 | €2,141 | €1,589 | -€552 | -25.8% |
| Amounts payable | 17/49 | €92,063 | €166,220 | +€74,157 | +80.5% |
| Amounts payable after more than one year | 17 | - | €42,322 | +€42,322 | |
| Financial debts | 170/4 | - | €42,322 | +€42,322 | |
| Amounts payable within one year | 42/48 | €91,054 | €122,438 | +€31,383 | +34.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €11,299 | +€11,299 | |
| Financial debts | 43 | €44 | €32 | -€12 | -27.3% |
| Credit institutions | 430/8 | €44 | €32 | -€12 | -27.3% |
| Trade debts | 44 | €21,030 | €39,886 | +€18,856 | +89.7% |
| Suppliers | 440/4 | €21,030 | €39,886 | +€18,856 | +89.7% |
| Advances received on contracts in progress | 46 | €21,233 | €23,078 | +€1,845 | +8.7% |
| Taxes, remuneration and social security | 45 | €45,286 | €45,607 | +€321 | +0.7% |
| Taxes | 450/3 | €14,986 | €22,928 | +€7,942 | +53.0% |
| Remuneration and social security | 454/9 | €30,300 | €22,679 | -€7,621 | -25.2% |
| Other amounts payable | 47/48 | €3,462 | €2,536 | -€926 | -26.7% |
| Accrued charges and deferred income | 492/3 | €1,009 | €1,459 | +€451 | +44.7% |
| Remuneration, social security and pensions | 62 | €186,693 | €180,832 | -€5,861 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,358 | €4,830 | +€472 | +10.8% |
| Other operating charges | 640/8 | €1,103 | €1,323 | +€220 | +19.9% |
| Gross operating margin | 9900 | €222,072 | €241,498 | +€19,426 | +8.7% |
| Operating profit (loss) | 9901 | €29,917 | €54,512 | +€24,595 | +82.2% |
| Financial income | 75/76B | €1 | €2 | +€0 | +12.7% |
| Recurring financial income | 75 | €1 | €2 | +€0 | +12.7% |
| Financial charges | 65/66B | €4,258 | €5,835 | +€1,578 | +37.1% |
| Recurring financial charges | 65 | €4,258 | €5,835 | +€1,578 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €25,661 | €48,678 | +€23,017 | +89.7% |
| Income taxes | 67/77 | €5,052 | €14,230 | +€9,178 | +182% |
| Profit (loss) for the period | 9904 | €20,609 | €34,448 | +€13,839 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,609 | €34,448 | +€13,839 | +67.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.