ANDRE-ZINC: 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.
ANDRE-ZINC
Largest movements
- Tangible fixed assets -€517,371
down €517,371 (-94.5%), from €547,571 to €30,200
of which Land and buildings: -€313,857
- Cash +€226,760
up €226,760 (+109.1%), from €207,866 to €434,626
mainly Net result for the year (+€582,943) and Investment in fixed assets (net) (+€507,144)
- Stocks and contracts -€60,463
down €60,463 (-7.1%), from €854,219 to €793,757
- Receivables within one year -€44,453
down €44,453 (-13.9%), from €319,104 to €274,651
of which Trade receivables: -€67,236
- Deferred charges and accrued income -€31,873
down €31,873 (-49.1%), from €64,947 to €33,074
- Profit (loss) carried forward +€582,943
up €582,943 (+157.9%), from €369,185 to €952,128
- Current portion of long-term debt -€376,937
down €376,937 (-75.1%), from €501,937 to €125,000
- Trade debts -€253,654
down €253,654 (-60.3%), from €420,953 to €167,299
- Reserves -€240,000
down €240,000 (-59.6%), from €402,572 to €162,572
of which Non-distributable reserves: -€240,000
- Revaluation surpluses -€180,000
no longer reported in 2025 (was €180,000)
- Gross operating margin +€616,235
up €616,235 (+280.9%), from €219,399 to €835,634
- Taxes +€94,658
up €94,658 (+48238.3%), from €196 to €94,854
- Depreciation -€45,035
down €45,035 (-81.5%), from €55,262 to €10,227
- Staff costs -€34,064
down €34,064 (-12.3%), from €277,547 to €243,483
- Financial charges -€12,151
down €12,151 (-39.0%), from €31,132 to €18,981
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,993,844 | €1,566,444 | -€427,399 | -21.4% |
| Fixed assets | 21/28 | €547,707 | €30,336 | -€517,371 | -94.5% |
| Tangible fixed assets | 22/27 | €547,571 | €30,200 | -€517,371 | -94.5% |
| Land and buildings | 22 | €313,857 | - | -€313,857 | |
| Plant, machinery and equipment | 23 | €231,909 | €24,518 | -€207,391 | -89.4% |
| Furniture and vehicles | 24 | €1,805 | €5,682 | +€3,877 | +214.8% |
| Financial fixed assets | 28 | €136 | €136 | = | 0.0% |
| Current assets | 29/58 | €1,446,137 | €1,536,108 | +€89,971 | +6.2% |
| Stocks and contracts in progress | 3 | €854,219 | €793,757 | -€60,463 | -7.1% |
| Stocks | 30/36 | €854,219 | €793,757 | -€60,463 | -7.1% |
| Amounts receivable within one year | 40/41 | €319,104 | €274,651 | -€44,453 | -13.9% |
| Trade receivables | 40 | €316,068 | €248,831 | -€67,236 | -21.3% |
| Other amounts receivable | 41 | €3,036 | €25,820 | +€22,784 | +750.4% |
| Cash at bank and in hand | 54/58 | €207,866 | €434,626 | +€226,760 | +109.1% |
| Deferred charges and accrued income | 490/1 | €64,947 | €33,074 | -€31,873 | -49.1% |
| Total equity and liabilities | 10/49 | €1,993,844 | €1,566,444 | -€427,399 | -21.4% |
| Equity | 10/15 | €951,757 | €1,234,700 | +€282,943 | +29.7% |
| Contributions | 10/11 | - | €120,000 | +€120,000 | |
| Capital | 10 | - | €120,000 | +€120,000 | |
| Issued capital | 100 | - | €120,000 | +€120,000 | |
| Revaluation surpluses | 12 | €180,000 | - | -€180,000 | |
| Reserves | 13 | €402,572 | €162,572 | -€240,000 | -59.6% |
| Non-distributable reserves | 130/1 | €251,155 | €11,155 | -€240,000 | -95.6% |
| Legal reserve | 130 | - | €11,155 | +€11,155 | |
| Reserves not available under the articles | 1311 | €131,155 | - | -€131,155 | |
| Financial assistance | 1313 | €120,000 | - | -€120,000 | |
| Distributable reserves | 133 | €151,417 | €151,417 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369,185 | €952,128 | +€582,943 | +157.9% |
| Amounts payable | 17/49 | €1,042,087 | €331,745 | -€710,342 | -68.2% |
| Amounts payable after more than one year | 17 | €10,008 | - | -€10,008 | |
| Financial debts | 170/4 | €10,008 | - | -€10,008 | |
| Amounts payable within one year | 42/48 | €1,032,078 | €331,745 | -€700,334 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €501,937 | €125,000 | -€376,937 | -75.1% |
| Trade debts | 44 | €420,953 | €167,299 | -€253,654 | -60.3% |
| Suppliers | 440/4 | €420,953 | €167,299 | -€253,654 | -60.3% |
| Taxes, remuneration and social security | 45 | €52,195 | €39,446 | -€12,749 | -24.4% |
| Taxes | 450/3 | €32,487 | €21,317 | -€11,170 | -34.4% |
| Remuneration and social security | 454/9 | €19,707 | €18,129 | -€1,579 | -8.0% |
| Other amounts payable | 47/48 | €56,993 | - | -€56,993 | |
| Non-recurring operating income | 76A | - | €570,734 | +€570,734 | |
| Remuneration, social security and pensions | 62 | €277,547 | €243,483 | -€34,064 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,262 | €10,227 | -€45,035 | -81.5% |
| Other operating charges | 640/8 | €11,431 | €10,987 | -€444 | -3.9% |
| Gross operating margin | 9900 | €219,399 | €835,634 | +€616,235 | +280.9% |
| Operating profit (loss) | 9901 | -€124,841 | €570,937 | +€695,778 | |
| Financial income | 75/76B | €14,322 | €5,841 | -€8,481 | -59.2% |
| Recurring financial income | 75 | €14,322 | €5,841 | -€8,481 | -59.2% |
| Financial charges | 65/66B | €31,132 | €18,981 | -€12,151 | -39.0% |
| Recurring financial charges | 65 | €31,132 | €18,981 | -€12,151 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | -€141,651 | €557,797 | +€699,448 | |
| Transfer from deferred taxes | 780 | - | €120,000 | +€120,000 | |
| Income taxes | 67/77 | €196 | €94,854 | +€94,658 | +48238.3% |
| Profit (loss) for the period | 9904 | -€141,848 | €582,943 | +€724,790 | |
| Profit (loss) for the period to be appropriated | 9905 | -€141,848 | €582,943 | +€724,790 |
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 12 October 2026 via checked.be.