DR. RINA ZANDERS: 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.
DR. RINA ZANDERS
Largest movements
- Cash +€10,624
up €10,624 (+92.6%), from €11,479 to €22,103
mainly Net result for the year (+€15,312) and Tax, wage and social debts (+€7,499)
- Tangible fixed assets +€8,139
up €8,139 (+85.6%), from €9,511 to €17,649
of which Furniture and vehicles: +€5,848
- Deferred charges and accrued income +€2,109
up €2,109 (+240%), from €878 to €2,988
- Receivables within one year -€1,499
down €1,499 (-47.5%), from €3,158 to €1,659
- Reserves +€15,312
up €15,312 (+5,805%), from €264 to €15,576
- Tax, wage and social debts +€7,499
up €7,499 (+541%), from €1,385 to €8,884
of which Taxes: +€4,999
- Other debts -€7,000
down €7,000 (-100%), from €7,000 to €0
- Trade debts +€2,406
up €2,406 (+3,695%), from €65 to €2,471
- Debts after one year +€1,139
up €1,139 (+10.6%), from €10,763 to €11,902
- Gross operating margin +€14,793
up €14,793 (+166%), from €8,901 to €23,694
- Taxes +€4,288
up €4,288 (+1,082%), from €396 to €4,684
- Depreciation +€2,672
up €2,672 (+546%), from €489 to €3,162
- Other operating charges -€293
down €293 (-39.4%), from €744 to €451
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 | €25,026 | €44,400 | +€19,374 | +77.4% |
| Fixed assets | 21/28 | €9,511 | €17,649 | +€8,139 | +85.6% |
| Tangible fixed assets | 22/27 | €9,511 | €17,649 | +€8,139 | +85.6% |
| Plant, machinery and equipment | 23 | - | €2,290 | +€2,290 | |
| Furniture and vehicles | 24 | €9,511 | €15,359 | +€5,848 | +61.5% |
| Current assets | 29/58 | €15,515 | €26,750 | +€11,235 | +72.4% |
| Amounts receivable within one year | 40/41 | €3,158 | €1,659 | -€1,499 | -47.5% |
| Trade receivables | 40 | €3,158 | €1,659 | -€1,499 | -47.5% |
| Cash at bank and in hand | 54/58 | €11,479 | €22,103 | +€10,624 | +92.6% |
| Deferred charges and accrued income | 490/1 | €878 | €2,988 | +€2,109 | +240% |
| Total equity and liabilities | 10/49 | €25,026 | €44,400 | +€19,374 | +77.4% |
| Equity | 10/15 | €5,264 | €20,576 | +€15,312 | +291% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €264 | €15,576 | +€15,312 | +5,805% |
| Distributable reserves | 133 | €264 | €15,576 | +€15,312 | +5,805% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,762 | €23,824 | +€4,062 | +20.6% |
| Amounts payable after more than one year | 17 | €10,763 | €11,902 | +€1,139 | +10.6% |
| Other amounts payable | 178/9 | €10,763 | €11,902 | +€1,139 | +10.6% |
| Amounts payable within one year | 42/48 | €8,450 | €11,355 | +€2,905 | +34.4% |
| Trade debts | 44 | €65 | €2,471 | +€2,406 | +3,695% |
| Suppliers | 440/4 | €65 | €2,471 | +€2,406 | +3,695% |
| Taxes, remuneration and social security | 45 | €1,385 | €8,884 | +€7,499 | +541% |
| Taxes | 450/3 | €1,385 | €6,384 | +€4,999 | +361% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €7,000 | €0 | -€7,000 | -100% |
| Accrued charges and deferred income | 492/3 | €549 | €566 | +€18 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489 | €3,162 | +€2,672 | +546% |
| Other operating charges | 640/8 | €744 | €451 | -€293 | -39.4% |
| Gross operating margin | 9900 | €8,901 | €23,694 | +€14,793 | +166% |
| Operating profit (loss) | 9901 | €7,668 | €20,081 | +€12,414 | +162% |
| Financial charges | 65/66B | €8 | €85 | +€77 | +1,030% |
| Recurring financial charges | 65 | €8 | €85 | +€77 | +1,030% |
| Profit (loss) for the period before taxes | 9903 | €7,660 | €19,996 | +€12,336 | +161% |
| Income taxes | 67/77 | €396 | €4,684 | +€4,288 | +1,082% |
| Profit (loss) for the period | 9904 | €7,264 | €15,312 | +€8,048 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €7,264 | €15,312 | +€8,048 | +111% |
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.