De Zwerpel: 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 Zwerpel
Largest movements
- Cash +€6,812
up €6,812 (+101%), from €6,762 to €13,573
mainly Net result for the year (+€23,179) and Depreciation (+€577)
- Receivables within one year +€2,644
up €2,644 (+41.7%), from €6,341 to €8,986
of which Trade receivables: +€1,815
- Tangible fixed assets -€577
down €577 (-40.1%), from €1,440 to €863
- Reserves +€22,346
up €22,346 (+15,637%), from €143 to €22,489
- Other debts -€9,427
down €9,427 (-94.2%), from €10,010 to €583
- Tax, wage and social debts -€4,040
down €4,040 (-94.2%), from €4,290 to €250
- Gross operating margin +€11,358
up €11,358 (+57.4%), from €19,805 to €31,163
- Taxes +€3,385
up €3,385 (+89.6%), from €3,779 to €7,164
- Other operating charges -€1,065
down €1,065 (-85.2%), from €1,251 to €186
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 | €14,543 | €23,422 | +€8,879 | +61.1% |
| Fixed assets | 21/28 | €1,440 | €863 | -€577 | -40.1% |
| Tangible fixed assets | 22/27 | €1,440 | €863 | -€577 | -40.1% |
| Furniture and vehicles | 24 | €1,440 | €863 | -€577 | -40.1% |
| Current assets | 29/58 | €13,103 | €22,559 | +€9,456 | +72.2% |
| Amounts receivable within one year | 40/41 | €6,341 | €8,986 | +€2,644 | +41.7% |
| Trade receivables | 40 | €1,965 | €3,780 | +€1,815 | +92.4% |
| Other amounts receivable | 41 | €4,376 | €5,206 | +€829 | +19.0% |
| Cash at bank and in hand | 54/58 | €6,762 | €13,573 | +€6,812 | +101% |
| Total equity and liabilities | 10/49 | €14,543 | €23,422 | +€8,879 | +61.1% |
| Equity | 10/15 | €243 | €22,589 | +€22,346 | +9,199% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €143 | €22,489 | +€22,346 | +15,637% |
| Distributable reserves | 133 | €143 | €22,489 | +€22,346 | +15,637% |
| Amounts payable | 17/49 | €14,300 | €833 | -€13,467 | -94.2% |
| Amounts payable within one year | 42/48 | €14,300 | €833 | -€13,467 | -94.2% |
| Taxes, remuneration and social security | 45 | €4,290 | €250 | -€4,040 | -94.2% |
| Taxes | 450/3 | €4,290 | €250 | -€4,040 | -94.2% |
| Other amounts payable | 47/48 | €10,010 | €583 | -€9,427 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291 | €577 | +€286 | +98.4% |
| Other operating charges | 640/8 | €1,251 | €186 | -€1,065 | -85.2% |
| Gross operating margin | 9900 | €19,805 | €31,163 | +€11,358 | +57.4% |
| Operating profit (loss) | 9901 | €18,263 | €30,400 | +€12,137 | +66.5% |
| Financial income | 75/76B | €6 | €9 | +€3 | +49.1% |
| Recurring financial income | 75 | €6 | €9 | +€3 | +49.1% |
| Financial charges | 65/66B | €47 | €66 | +€19 | +40.1% |
| Recurring financial charges | 65 | €47 | €66 | +€19 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €18,222 | €30,343 | +€12,121 | +66.5% |
| Income taxes | 67/77 | €3,779 | €7,164 | +€3,385 | +89.6% |
| Profit (loss) for the period | 9904 | €14,443 | €23,179 | +€8,736 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,443 | €23,179 | +€8,736 | +60.5% |
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 21 October 2026 via checked.be.