ZUZ-MAT: 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.
ZUZ-MAT
Largest movements
- Cash +€37,650
up €37,650 (+188%), from €20,031 to €57,681
mainly Net result for the year (+€46,260) and Depreciation (+€23,633)
- Receivables within one year +€32,188
up €32,188 (+32.7%), from €98,480 to €130,667
of which Trade receivables: +€27,611
- Tangible fixed assets -€9,147
down €9,147 (-16.8%), from €54,584 to €45,436
of which Furniture and vehicles: -€11,791
- Profit (loss) carried forward +€46,261
up €46,261 (+55.8%), from €82,945 to €129,205
- Trade debts +€20,508
new in 2025: €20,508
- Tax, wage and social debts -€6,202
down €6,202 (-18.2%), from €33,994 to €27,792
of which Taxes: -€7,441
- Turnover +€583,812
up €583,812 (+154%), from €378,404 to €962,216
- Purchases and services +€538,375
up €538,375 (+165%), from €325,397 to €863,772
- Gross operating margin +€69,090
up €69,090 (+130%), from €53,007 to €122,097
- Taxes +€18,945
up €18,945 (+1,781%), from €1,064 to €20,009
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 | €175,544 | €234,296 | +€58,752 | +33.5% |
| Fixed assets | 21/28 | €54,584 | €45,436 | -€9,147 | -16.8% |
| Tangible fixed assets | 22/27 | €54,584 | €45,436 | -€9,147 | -16.8% |
| Plant, machinery and equipment | 23 | €1,385 | €4,028 | +€2,644 | +191% |
| Furniture and vehicles | 24 | €53,199 | €41,408 | -€11,791 | -22.2% |
| Current assets | 29/58 | €120,960 | €188,859 | +€67,899 | +56.1% |
| Amounts receivable within one year | 40/41 | €98,480 | €130,667 | +€32,188 | +32.7% |
| Trade receivables | 40 | €85,259 | €112,870 | +€27,611 | +32.4% |
| Other amounts receivable | 41 | €13,220 | €17,797 | +€4,577 | +34.6% |
| Cash at bank and in hand | 54/58 | €20,031 | €57,681 | +€37,650 | +188% |
| Deferred charges and accrued income | 490/1 | €2,449 | €511 | -€1,938 | -79.1% |
| Total equity and liabilities | 10/49 | €175,544 | €234,296 | +€58,752 | +33.5% |
| Equity | 10/15 | €137,685 | €183,945 | +€46,261 | +33.6% |
| Contributions | 10/11 | €7,880 | €7,880 | = | 0.0% |
| Reserves | 13 | €46,860 | €46,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,945 | €129,205 | +€46,261 | +55.8% |
| Amounts payable | 17/49 | €37,859 | €50,350 | +€12,491 | +33.0% |
| Amounts payable within one year | 42/48 | €37,597 | €50,350 | +€12,753 | +33.9% |
| Trade debts | 44 | - | €20,508 | +€20,508 | |
| Suppliers | 440/4 | - | €20,508 | +€20,508 | |
| Taxes, remuneration and social security | 45 | €33,994 | €27,792 | -€6,202 | -18.2% |
| Taxes | 450/3 | €33,994 | €26,553 | -€7,441 | -21.9% |
| Remuneration and social security | 454/9 | - | €1,239 | +€1,239 | |
| Other amounts payable | 47/48 | €3,603 | €2,050 | -€1,553 | -43.1% |
| Accrued charges and deferred income | 492/3 | €262 | - | -€262 | |
| Turnover | 70 | €378,404 | €962,216 | +€583,812 | +154% |
| Goods, raw materials, services and sundry goods | 60/61 | €325,397 | €863,772 | +€538,375 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,484 | €23,633 | +€2,149 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,000 | €29,604 | +€4,604 | +18.4% |
| Other operating charges | 640/8 | €1,605 | €2,250 | +€645 | +40.2% |
| Gross operating margin | 9900 | €53,007 | €122,097 | +€69,090 | +130% |
| Operating profit (loss) | 9901 | €4,918 | €66,610 | +€61,692 | +1,254% |
| Financial income | 75/76B | €348 | - | -€348 | |
| Recurring financial income | 75 | €348 | - | -€348 | |
| Financial charges | 65/66B | €282 | €341 | +€59 | +20.8% |
| Recurring financial charges | 65 | €282 | €341 | +€59 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €4,984 | €66,269 | +€61,285 | +1,230% |
| Income taxes | 67/77 | €1,064 | €20,009 | +€18,945 | +1,781% |
| Profit (loss) for the period | 9904 | €3,920 | €46,260 | +€42,341 | +1,080% |
| Profit (loss) for the period to be appropriated | 9905 | €3,920 | €46,260 | +€42,341 | +1,080% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.