Eric Zandijk: 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.
Eric Zandijk
Largest movements
- Cash +€116,530
up €116,530 (+11.5%), from €1.0m to €1.1m
mainly Net result for the year (+€71,252) and Receivables within one year (+€35,901)
- Receivables within one year -€35,901
down €35,901 (-34.5%), from €103,915 to €68,014
- Reserves +€71,252
up €71,252 (+7.0%), from €1.0m to €1.1m
- Gross operating margin -€93,197
down €93,197 (-48.7%), from €191,476 to €98,279
- Taxes -€23,582
down €23,582 (-46.3%), from €50,922 to €27,340
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 | €1,118,799 | €1,199,323 | +€80,524 | +7.2% |
| Fixed assets | 21/28 | €521 | €416 | -€105 | -20.2% |
| Tangible fixed assets | 22/27 | €520 | €415 | -€105 | -20.2% |
| Furniture and vehicles | 24 | €520 | €415 | -€105 | -20.2% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €1,118,278 | €1,198,907 | +€80,629 | +7.2% |
| Amounts receivable within one year | 40/41 | €103,915 | €68,014 | -€35,901 | -34.5% |
| Other amounts receivable | 41 | €103,915 | €68,014 | -€35,901 | -34.5% |
| Cash at bank and in hand | 54/58 | €1,014,363 | €1,130,893 | +€116,530 | +11.5% |
| Total equity and liabilities | 10/49 | €1,118,799 | €1,199,323 | +€80,524 | +7.2% |
| Equity | 10/15 | €1,043,615 | €1,114,867 | +€71,252 | +6.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,025,065 | €1,096,317 | +€71,252 | +7.0% |
| Distributable reserves | 133 | €1,025,065 | €1,096,317 | +€71,252 | +7.0% |
| Amounts payable | 17/49 | €75,184 | €84,456 | +€9,271 | +12.3% |
| Amounts payable within one year | 42/48 | €70,684 | €79,956 | +€9,271 | +13.1% |
| Trade debts | 44 | €1,282 | €559 | -€723 | -56.4% |
| Suppliers | 440/4 | €1,282 | €559 | -€723 | -56.4% |
| Taxes, remuneration and social security | 45 | €43,490 | €53,485 | +€9,995 | +23.0% |
| Taxes | 450/3 | €36,991 | €31,737 | -€5,254 | -14.2% |
| Remuneration and social security | 454/9 | €6,499 | €21,747 | +€15,248 | +235% |
| Other amounts payable | 47/48 | €25,912 | €25,912 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,500 | €4,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2 | €105 | +€103 | +5,150% |
| Other operating charges | 640/8 | €1,273 | €1,262 | -€11 | -0.9% |
| Gross operating margin | 9900 | €191,476 | €98,279 | -€93,197 | -48.7% |
| Operating profit (loss) | 9901 | €190,201 | €96,913 | -€93,288 | -49.0% |
| Financial income | 75/76B | €289 | €1,913 | +€1,624 | +562% |
| Recurring financial income | 75 | €289 | €1,913 | +€1,624 | +562% |
| Financial charges | 65/66B | €554 | €233 | -€321 | -58.0% |
| Recurring financial charges | 65 | €554 | €233 | -€321 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €189,936 | €98,593 | -€91,344 | -48.1% |
| Income taxes | 67/77 | €50,922 | €27,340 | -€23,582 | -46.3% |
| Profit (loss) for the period | 9904 | €139,014 | €71,252 | -€67,761 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,014 | €71,252 | -€67,761 | -48.7% |
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 14 October 2026 via checked.be.