ZUTWAS: 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.
What changed
ZUTWAS
NACE 47.551, Retail sale of household furniture
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€70,920
2024 · €20,641-€91,561
Equity
€1.8m
2024 · €1.8m-€70,920
Cash
€48,588
2024 · €66,124-€17,536
Balance sheet total
€2.4m
2024 · €2.4m-€17,543
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€70,920
down €70,920 (-4.7%), from €1.5m to €1.4m
- Other debts +€35,872
up €35,872 (+22.8%), from €157,623 to €193,494
Income statement
- Gross operating margin -€83,668
down €83,668 (-12.0%), from €695,521 to €611,853
- Staff costs +€21,829
up €21,829 (+3.6%), from €610,796 to €632,625
- Taxes -€8,774
down €8,774 (-99.1%), from €8,853 to €79
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.
Result 2024
€20,641
Gross operating margin
-€83,668
Staff costs
-€21,829
Depreciation
-€1,248
Write-downs
+€1,592
Other operating charges
+€1,801
Financial income
-€501
Financial charges
+€3,518
Taxes
+€8,774
Result 2025
-€70,920
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.
From operations
+€48,802
Investment
-€66,338
Financing
€0
Cash 2024
€66,124
From operations (derived)
+€48,802
Net result for the year
-€70,920
Depreciation
+€54,328
Stocks and contracts
+€4,009
Receivables within one year
+€7,948
Smaller working-capital items
+€67
Trade debts
+€3,251
Tax, wage and social debts
+€12,712
Advances received
+€1,535
Other debts
+€35,872
Investment (derived)
-€66,338
Investment in fixed assets (net)
-€66,338
Cash 2025
€48,588
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,379,160 | €2,361,617 | -€17,543 | -0.7% |
| Fixed assets | 21/28 | €208,355 | €220,364 | +€12,010 | +5.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €208,355 | €220,364 | +€12,010 | +5.8% |
| Plant, machinery and equipment | 23 | €25,601 | €27,290 | +€1,689 | +6.6% |
| Furniture and vehicles | 24 | €11,180 | €11,858 | +€678 | +6.1% |
| Other tangible fixed assets | 26 | €171,574 | €181,216 | +€9,643 | +5.6% |
| Current assets | 29/58 | €2,170,805 | €2,141,253 | -€29,552 | -1.4% |
| Stocks and contracts in progress | 3 | €2,066,611 | €2,062,602 | -€4,009 | -0.2% |
| Stocks | 30/36 | €2,066,611 | €2,062,602 | -€4,009 | -0.2% |
| Amounts receivable within one year | 40/41 | €27,721 | €19,773 | -€7,948 | -28.7% |
| Trade receivables | 40 | €27,637 | €16,546 | -€11,091 | -40.1% |
| Other amounts receivable | 41 | €84 | €3,227 | +€3,144 | +3762.0% |
| Cash at bank and in hand | 54/58 | €66,124 | €48,588 | -€17,536 | -26.5% |
| Deferred charges and accrued income | 490/1 | €10,349 | €10,289 | -€60 | -0.6% |
| Total equity and liabilities | 10/49 | €2,379,160 | €2,361,617 | -€17,543 | -0.7% |
| Equity | 10/15 | €1,826,848 | €1,755,928 | -€70,920 | -3.9% |
| Contributions | 10/11 | €297,472 | €297,472 | = | 0.0% |
| Capital | 10 | €297,472 | €297,472 | = | 0.0% |
| Issued capital | 100 | €297,472 | €297,472 | = | 0.0% |
| Reserves | 13 | €29,747 | €29,747 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,747 | €29,747 | = | 0.0% |
| Legal reserve | 130 | €29,747 | €29,747 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,499,629 | €1,428,709 | -€70,920 | -4.7% |
| Amounts payable | 17/49 | €552,311 | €605,689 | +€53,377 | +9.7% |
| Amounts payable within one year | 42/48 | €539,840 | €593,210 | +€53,370 | +9.9% |
| Trade debts | 44 | €271,516 | €274,767 | +€3,251 | +1.2% |
| Suppliers | 440/4 | €271,516 | €274,767 | +€3,251 | +1.2% |
| Advances received on contracts in progress | 46 | €3,452 | €4,988 | +€1,535 | +44.5% |
| Taxes, remuneration and social security | 45 | €107,249 | €119,961 | +€12,712 | +11.9% |
| Taxes | 450/3 | €14,079 | €25,728 | +€11,649 | +82.7% |
| Remuneration and social security | 454/9 | €93,170 | €94,233 | +€1,063 | +1.1% |
| Other amounts payable | 47/48 | €157,623 | €193,494 | +€35,872 | +22.8% |
| Accrued charges and deferred income | 492/3 | €12,472 | €12,479 | +€7 | +0.1% |
| Non-recurring operating income | 76A | €5,578 | - | -€5,578 | |
| Remuneration, social security and pensions | 62 | €610,796 | €632,625 | +€21,829 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,080 | €54,328 | +€1,248 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,070 | €5,478 | -€1,592 | -22.5% |
| Other operating charges | 640/8 | €21,515 | €19,714 | -€1,801 | -8.4% |
| Gross operating margin | 9900 | €695,521 | €611,853 | -€83,668 | -12.0% |
| Operating profit (loss) | 9901 | €3,059 | -€100,292 | -€103,352 | |
| Financial income | 75/76B | €42,575 | €42,075 | -€501 | -1.2% |
| Recurring financial income | 75 | €42,575 | €42,075 | -€501 | -1.2% |
| Financial charges | 65/66B | €16,141 | €12,623 | -€3,518 | -21.8% |
| Recurring financial charges | 65 | €16,141 | €12,623 | -€3,518 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €29,494 | -€70,841 | -€100,335 | |
| Income taxes | 67/77 | €8,853 | €79 | -€8,774 | -99.1% |
| Profit (loss) for the period | 9904 | €20,641 | -€70,920 | -€91,561 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,641 | -€70,920 | -€91,561 |
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 10 October 2026 via checked.be.