DE ZEEKONING: 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 ZEEKONING
Largest movements
- Stocks and contracts +€16,750
up €16,750 (+6,700%), from €250 to €17,000
- Cash +€8,438
up €8,438 (+9.8%), from €85,670 to €94,108
mainly Other debts (+€44,206) and Depreciation (+€23,869)
- Receivables within one year -€7,413
down €7,413 (-39.3%), from €18,839 to €11,426
of which Other amounts receivable: -€7,413
- Deferred charges and accrued income +€3,524
new in 2025: €3,524
- Tangible fixed assets -€2,664
down €2,664 (-2.6%), from €101,862 to €99,198
of which Land and buildings: -€7,723
- Other debts +€44,206
up €44,206 (+208%), from €21,248 to €65,454
- Reserves -€25,692
down €25,692 (-17.6%), from €145,996 to €120,303
of which Distributable reserves: -€25,692
- Current portion of long-term debt +€4,418
up €4,418, from €0 to €4,418
- Tax, wage and social debts -€4,243
down €4,243 (-64.5%), from €6,577 to €2,334
- Gross operating margin -€28,827
down €28,827 (-23.5%), from €122,670 to €93,843
- Taxes -€9,296
down €9,296 (-48.6%), from €19,140 to €9,844
- Other operating charges -€6,833
down €6,833 (-17.0%), from €40,185 to €33,351
- Depreciation +€5,088
up €5,088 (+27.1%), from €18,782 to €23,869
- Financial charges +€2,967
up €2,967 (+290%), from €1,025 to €3,992
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 | €206,620 | €225,256 | +€18,635 | +9.0% |
| Fixed assets | 21/28 | €101,862 | €99,198 | -€2,664 | -2.6% |
| Tangible fixed assets | 22/27 | €101,862 | €99,198 | -€2,664 | -2.6% |
| Land and buildings | 22 | €50,990 | €43,267 | -€7,723 | -15.1% |
| Plant, machinery and equipment | 23 | €32,220 | €33,310 | +€1,090 | +3.4% |
| Furniture and vehicles | 24 | €18,652 | €22,620 | +€3,968 | +21.3% |
| Current assets | 29/58 | €104,759 | €126,058 | +€21,299 | +20.3% |
| Stocks and contracts in progress | 3 | €250 | €17,000 | +€16,750 | +6,700% |
| Stocks | 30/36 | €250 | €17,000 | +€16,750 | +6,700% |
| Amounts receivable within one year | 40/41 | €18,839 | €11,426 | -€7,413 | -39.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €18,839 | €11,426 | -€7,413 | -39.3% |
| Cash at bank and in hand | 54/58 | €85,670 | €94,108 | +€8,438 | +9.8% |
| Deferred charges and accrued income | 490/1 | - | €3,524 | +€3,524 | |
| Total equity and liabilities | 10/49 | €206,620 | €225,256 | +€18,635 | +9.0% |
| Equity | 10/15 | €175,996 | €150,303 | -€25,692 | -14.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €145,996 | €120,303 | -€25,692 | -17.6% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €145,996 | €120,303 | -€25,692 | -17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,625 | €74,952 | +€44,328 | +145% |
| Amounts payable within one year | 42/48 | €30,625 | €74,952 | +€44,328 | +145% |
| Current portion of amounts payable after more than one year | 42 | €0 | €4,418 | +€4,418 | |
| Trade debts | 44 | €2,800 | €2,746 | -€53 | -1.9% |
| Suppliers | 440/4 | €2,800 | €2,746 | -€53 | -1.9% |
| Taxes, remuneration and social security | 45 | €6,577 | €2,334 | -€4,243 | -64.5% |
| Taxes | 450/3 | €6,577 | €2,334 | -€4,243 | -64.5% |
| Other amounts payable | 47/48 | €21,248 | €65,454 | +€44,206 | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,782 | €23,869 | +€5,088 | +27.1% |
| Other operating charges | 640/8 | €40,185 | €33,351 | -€6,833 | -17.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €122,670 | €93,843 | -€28,827 | -23.5% |
| Operating profit (loss) | 9901 | €63,704 | €36,623 | -€27,081 | -42.5% |
| Financial income | 75/76B | €505 | €451 | -€54 | -10.8% |
| Recurring financial income | 75 | €505 | €451 | -€54 | -10.8% |
| Financial charges | 65/66B | €1,025 | €3,992 | +€2,967 | +290% |
| Recurring financial charges | 65 | €1,025 | €3,992 | +€2,967 | +290% |
| Profit (loss) for the period before taxes | 9903 | €63,184 | €33,081 | -€30,103 | -47.6% |
| Income taxes | 67/77 | €19,140 | €9,844 | -€9,296 | -48.6% |
| Profit (loss) for the period | 9904 | €44,044 | €23,237 | -€20,807 | -47.2% |
| Transfer from tax-exempt reserves | 789 | €3,000 | €0 | -€3,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €47,044 | €23,237 | -€23,807 | -50.6% |
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 30 October 2026 via checked.be.