ZUS & ZO: 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 & ZO
Largest movements
- Tangible fixed assets -€1,406
down €1,406 (-4.7%), from €29,911 to €28,506
of which Land and buildings: -€1,362
- Receivables within one year -€1,340
down €1,340 (-44.3%), from €3,028 to €1,688
of which Other amounts receivable: -€1,620
- Stocks and contracts +€1,178
up €1,178 (+14.3%), from €8,270 to €9,448
- Other debts -€4,597
down €4,597 (-22.9%), from €20,048 to €15,451
- Reserves +€2,773
up €2,773 (+6.2%), from €44,958 to €47,731
- Trade debts +€1,881
up €1,881 (+54.9%), from €3,428 to €5,309
- Tax, wage and social debts -€1,573
down €1,573 (-12.3%), from €12,812 to €11,239
of which Remuneration and social security: -€889
- Financial charges -€2,541
down €2,541 (-46.6%), from €5,453 to €2,912
- Gross operating margin +€1,962
up €1,962 (+1.8%), from €106,565 to €108,526
- Depreciation +€1,254
up €1,254 (+19.5%), from €6,423 to €7,677
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 | €89,044 | €87,230 | -€1,815 | -2.0% |
| Fixed assets | 21/28 | €29,911 | €28,506 | -€1,406 | -4.7% |
| Tangible fixed assets | 22/27 | €29,911 | €28,506 | -€1,406 | -4.7% |
| Land and buildings | 22 | €10,365 | €9,003 | -€1,362 | -13.1% |
| Plant, machinery and equipment | 23 | €19,082 | €19,463 | +€381 | +2.0% |
| Furniture and vehicles | 24 | €464 | €40 | -€424 | -91.4% |
| Current assets | 29/58 | €59,133 | €58,724 | -€409 | -0.7% |
| Stocks and contracts in progress | 3 | €8,270 | €9,448 | +€1,178 | +14.3% |
| Stocks | 30/36 | €8,270 | €9,448 | +€1,178 | +14.3% |
| Amounts receivable within one year | 40/41 | €3,028 | €1,688 | -€1,340 | -44.3% |
| Trade receivables | 40 | - | €280 | +€280 | |
| Other amounts receivable | 41 | €3,028 | €1,408 | -€1,620 | -53.5% |
| Cash at bank and in hand | 54/58 | €47,731 | €47,097 | -€634 | -1.3% |
| Deferred charges and accrued income | 490/1 | €104 | €491 | +€386 | +370% |
| Total equity and liabilities | 10/49 | €89,044 | €87,230 | -€1,815 | -2.0% |
| Equity | 10/15 | €52,458 | €55,231 | +€2,773 | +5.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €44,958 | €47,731 | +€2,773 | +6.2% |
| Distributable reserves | 133 | €44,958 | €47,731 | +€2,773 | +6.2% |
| Amounts payable | 17/49 | €36,586 | €31,999 | -€4,587 | -12.5% |
| Amounts payable within one year | 42/48 | €36,287 | €31,999 | -€4,289 | -11.8% |
| Trade debts | 44 | €3,428 | €5,309 | +€1,881 | +54.9% |
| Suppliers | 440/4 | €3,428 | €5,309 | +€1,881 | +54.9% |
| Taxes, remuneration and social security | 45 | €12,812 | €11,239 | -€1,573 | -12.3% |
| Taxes | 450/3 | €1,354 | €670 | -€684 | -50.5% |
| Remuneration and social security | 454/9 | €11,458 | €10,569 | -€889 | -7.8% |
| Other amounts payable | 47/48 | €20,048 | €15,451 | -€4,597 | -22.9% |
| Accrued charges and deferred income | 492/3 | €299 | - | -€299 | |
| Remuneration, social security and pensions | 62 | €89,975 | €90,263 | +€288 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,423 | €7,677 | +€1,254 | +19.5% |
| Other operating charges | 640/8 | €3,618 | €3,699 | +€81 | +2.2% |
| Gross operating margin | 9900 | €106,565 | €108,526 | +€1,962 | +1.8% |
| Operating profit (loss) | 9901 | €6,549 | €6,888 | +€339 | +5.2% |
| Financial charges | 65/66B | €5,453 | €2,912 | -€2,541 | -46.6% |
| Recurring financial charges | 65 | €5,453 | €2,912 | -€2,541 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | €1,096 | €3,975 | +€2,879 | +263% |
| Income taxes | 67/77 | €582 | €1,203 | +€620 | +107% |
| Profit (loss) for the period | 9904 | €514 | €2,773 | +€2,259 | +440% |
| Profit (loss) for the period to be appropriated | 9905 | €514 | €2,773 | +€2,259 | +440% |
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 15 October 2026 via checked.be.