AC Zeidan: what changed
AC Zeidan
Largest movements
- Tangible fixed assets +€50,069
up €50,069 (+49.6%), from €100,977 to €151,046
of which Leasing and similar rights: +€30,120
- Receivables within one year +€41,099
up €41,099 (+59.4%), from €69,156 to €110,255
of which Trade receivables: +€28,079
- Cash -€20,630
down €20,630 (-63.5%), from €32,507 to €11,876
mainly Investment in fixed assets (net) (-€88,412) and Contributions, distributions and other (-€57,000)
- Trade debts +€41,382
up €41,382 (+316%), from €13,081 to €54,463
- Debts after one year +€28,496
up €28,496 (+48.1%), from €59,267 to €87,763
of which Financial debts: +€28,496
- Reserves -€27,000
down €27,000 (-47.4%), from €57,000 to €30,000
- Current portion of long-term debt +€20,614
up €20,614 (+132%), from €15,599 to €36,213
- Other debts +€6,643
up €6,643 (+18.6%), from €35,693 to €42,336
- Gross operating margin +€79,259
up €79,259 (+86.5%), from €91,677 to €170,936
- Staff costs +€53,843
up €53,843 (+223%), from €24,120 to €77,963
- Depreciation +€19,741
up €19,741 (+106%), from €18,602 to €38,342
- Financial charges +€2,133
up €2,133 (+34.0%), from €6,270 to €8,403
- Taxes +€1,937
up €1,937 (+20.2%), from €9,601 to €11,538
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €214,003 | €282,383 | +€68,379 | +32.0% |
| Fixed assets | 21/28 | €105,842 | €155,911 | +€50,069 | +47.3% |
| Tangible fixed assets | 22/27 | €100,977 | €151,046 | +€50,069 | +49.6% |
| Plant, machinery and equipment | 23 | €2,998 | €12,391 | +€9,393 | +313% |
| Furniture and vehicles | 24 | €9,552 | €10,071 | +€518 | +5.4% |
| Leasing and similar rights | 25 | €76,517 | €106,638 | +€30,120 | +39.4% |
| Other tangible fixed assets | 26 | €11,910 | €21,947 | +€10,038 | +84.3% |
| Financial fixed assets | 28 | €4,865 | €4,865 | = | 0.0% |
| Current assets | 29/58 | €108,161 | €126,471 | +€18,310 | +16.9% |
| Amounts receivable after more than one year | 29 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts receivable | 291 | €2,000 | €0 | -€2,000 | -100% |
| Amounts receivable within one year | 40/41 | €69,156 | €110,255 | +€41,099 | +59.4% |
| Trade receivables | 40 | €64,737 | €92,816 | +€28,079 | +43.4% |
| Other amounts receivable | 41 | €4,419 | €17,438 | +€13,019 | +295% |
| Cash at bank and in hand | 54/58 | €32,507 | €11,876 | -€20,630 | -63.5% |
| Deferred charges and accrued income | 490/1 | €4,499 | €4,340 | -€159 | -3.5% |
| Total equity and liabilities | 10/49 | €214,003 | €282,383 | +€68,379 | +32.0% |
| Equity | 10/15 | €63,950 | €36,447 | -€27,503 | -43.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €57,000 | €30,000 | -€27,000 | -47.4% |
| Distributable reserves | 133 | €57,000 | €30,000 | -€27,000 | -47.4% |
| Profit (loss) carried forward | 14 | €950 | €447 | -€503 | -52.9% |
| Amounts payable | 17/49 | €150,054 | €245,936 | +€95,882 | +63.9% |
| Amounts payable after more than one year | 17 | €59,267 | €87,763 | +€28,496 | +48.1% |
| Financial debts | 170/4 | €56,957 | €85,453 | +€28,496 | +50.0% |
| Other amounts payable | 178/9 | €2,310 | €2,310 | = | 0.0% |
| Amounts payable within one year | 42/48 | €90,039 | €158,173 | +€68,134 | +75.7% |
| Current portion of amounts payable after more than one year | 42 | €15,599 | €36,213 | +€20,614 | +132% |
| Trade debts | 44 | €13,081 | €54,463 | +€41,382 | +316% |
| Suppliers | 440/4 | €13,081 | €54,463 | +€41,382 | +316% |
| Taxes, remuneration and social security | 45 | €25,666 | €25,161 | -€505 | -2.0% |
| Taxes | 450/3 | €17,823 | €12,843 | -€4,980 | -27.9% |
| Remuneration and social security | 454/9 | €7,842 | €12,318 | +€4,476 | +57.1% |
| Other amounts payable | 47/48 | €35,693 | €42,336 | +€6,643 | +18.6% |
| Accrued charges and deferred income | 492/3 | €747 | €0 | -€747 | -100% |
| Remuneration, social security and pensions | 62 | €24,120 | €77,963 | +€53,843 | +223% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,602 | €38,342 | +€19,741 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,456 | +€1,456 | |
| Other operating charges | 640/8 | €2,969 | €4,108 | +€1,139 | +38.4% |
| Gross operating margin | 9900 | €91,677 | €170,936 | +€79,259 | +86.5% |
| Operating profit (loss) | 9901 | €45,987 | €49,067 | +€3,080 | +6.7% |
| Financial income | 75/76B | €1,348 | €372 | -€976 | -72.4% |
| Recurring financial income | 75 | €1,348 | €372 | -€976 | -72.4% |
| Financial charges | 65/66B | €6,270 | €8,403 | +€2,133 | +34.0% |
| Recurring financial charges | 65 | €6,270 | €8,403 | +€2,133 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €41,065 | €41,036 | -€29 | -0.1% |
| Income taxes | 67/77 | €9,601 | €11,538 | +€1,937 | +20.2% |
| Profit (loss) for the period | 9904 | €31,464 | €29,497 | -€1,967 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,464 | €29,497 | -€1,967 | -6.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.