DE ZAVEL: 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.
DE ZAVEL
Largest movements
- Tangible fixed assets -€70,317
down €70,317 (-16.1%), from €436,676 to €366,359
of which Leasing and similar rights: -€39,954
- Receivables within one year +€63,990
up €63,990 (+61.4%), from €104,159 to €168,150
of which Trade receivables: +€67,593
- Cash -€10,939
down €10,939 (-94.8%), from €11,541 to €602
mainly Debts after one year (-€109,714) and Receivables within one year (-€63,990)
- Other debts +€158,416
up €158,416 (+1476.4%), from €10,730 to €169,146
- Debts after one year -€109,714
down €109,714 (-36.8%), from €298,060 to €188,346
- Trade debts -€44,467
down €44,467 (-87.8%), from €50,636 to €6,170
- Tax, wage and social debts -€18,393
down €18,393 (-40.1%), from €45,830 to €27,436
of which Remuneration and social security: -€33,860
- Profit (loss) carried forward -€10,243
down €10,243 (-73.5%), from -€13,931 to -€24,173
- Depreciation +€70,317
up €70,317, from €0 to €70,317
- Gross operating margin +€68,908
up €68,908 (+373.7%), from €18,439 to €87,347
- Other operating charges -€16,190
down €16,190 (-84.3%), from €19,199 to €3,009
- Taxes +€11,138
up €11,138 (+614.2%), from €1,814 to €12,952
- Financial charges +€2,126
up €2,126 (+23.1%), from €9,186 to €11,312
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 | €556,003 | €535,111 | -€20,892 | -3.8% |
| Fixed assets | 21/28 | €436,676 | €366,359 | -€70,317 | -16.1% |
| Tangible fixed assets | 22/27 | €436,676 | €366,359 | -€70,317 | -16.1% |
| Furniture and vehicles | 24 | €236,908 | €206,544 | -€30,363 | -12.8% |
| Leasing and similar rights | 25 | €199,769 | €159,815 | -€39,954 | -20.0% |
| Current assets | 29/58 | €119,327 | €168,752 | +€49,425 | +41.4% |
| Amounts receivable within one year | 40/41 | €104,159 | €168,150 | +€63,990 | +61.4% |
| Trade receivables | 40 | €32,028 | €99,621 | +€67,593 | +211.0% |
| Other amounts receivable | 41 | €72,131 | €68,529 | -€3,602 | -5.0% |
| Cash at bank and in hand | 54/58 | €11,541 | €602 | -€10,939 | -94.8% |
| Deferred charges and accrued income | 490/1 | €3,627 | €0 | -€3,627 | -100.0% |
| Total equity and liabilities | 10/49 | €556,003 | €535,111 | -€20,892 | -3.8% |
| Equity | 10/15 | €38,115 | €27,872 | -€10,243 | -26.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,846 | €45,846 | = | 0.0% |
| Distributable reserves | 133 | €45,846 | €45,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,931 | -€24,173 | -€10,243 | -73.5% |
| Amounts payable | 17/49 | €517,888 | €507,239 | -€10,650 | -2.1% |
| Amounts payable after more than one year | 17 | €298,060 | €188,346 | -€109,714 | -36.8% |
| Financial debts | 170/4 | €298,060 | €188,346 | -€109,714 | -36.8% |
| Amounts payable within one year | 42/48 | €217,458 | €312,466 | +€95,008 | +43.7% |
| Current portion of amounts payable after more than one year | 42 | €110,262 | €109,714 | -€548 | -0.5% |
| Trade debts | 44 | €50,636 | €6,170 | -€44,467 | -87.8% |
| Suppliers | 440/4 | €50,636 | €6,170 | -€44,467 | -87.8% |
| Taxes, remuneration and social security | 45 | €45,830 | €27,436 | -€18,393 | -40.1% |
| Taxes | 450/3 | €11,970 | €27,436 | +€15,467 | +129.2% |
| Remuneration and social security | 454/9 | €33,860 | €0 | -€33,860 | -100.0% |
| Other amounts payable | 47/48 | €10,730 | €169,146 | +€158,416 | +1476.4% |
| Accrued charges and deferred income | 492/3 | €2,369 | €6,427 | +€4,057 | +171.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €70,317 | +€70,317 | |
| Other operating charges | 640/8 | €19,199 | €3,009 | -€16,190 | -84.3% |
| Non-recurring operating charges | 66A | €2,172 | €0 | -€2,172 | -100.0% |
| Gross operating margin | 9900 | €18,439 | €87,347 | +€68,908 | +373.7% |
| Operating profit (loss) | 9901 | -€2,931 | €14,021 | +€16,953 | |
| Financial charges | 65/66B | €9,186 | €11,312 | +€2,126 | +23.1% |
| Recurring financial charges | 65 | €9,186 | €11,312 | +€2,126 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,117 | €2,709 | +€14,826 | |
| Income taxes | 67/77 | €1,814 | €12,952 | +€11,138 | +614.2% |
| Profit (loss) for the period | 9904 | -€13,931 | -€10,243 | +€3,688 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,931 | -€10,243 | +€3,688 | +26.5% |
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.