GEHLEN ZONWERING: 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.
GEHLEN ZONWERING
Largest movements
- Receivables within one year -€40,529
down €40,529 (-78.0%), from €51,940 to €11,411
- Intangible fixed assets -€31,556
down €31,556 (-32.3%), from €97,782 to €66,226
- Cash -€9,597
down €9,597 (-19.4%), from €49,466 to €39,870
mainly Other debts (-€51,652) and Trade debts (-€20,436)
- Stocks and contracts -€3,665
no longer reported in 2025 (was €3,665)
- Other debts -€51,652
down €51,652 (-32.6%), from €158,443 to €106,791
- Trade debts -€20,436
down €20,436 (-85.6%), from €23,885 to €3,449
- Profit (loss) carried forward -€14,054
down €14,054 (-81.9%), from €17,156 to €3,101
- Gross operating margin -€27,708
down €27,708 (-59.9%), from €46,253 to €18,546
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 | €203,706 | €117,851 | -€85,855 | -42.1% |
| Formation expenses | 20 | €853 | €345 | -€508 | -59.6% |
| Fixed assets | 21/28 | €97,782 | €66,226 | -€31,556 | -32.3% |
| Intangible fixed assets | 21 | €97,782 | €66,226 | -€31,556 | -32.3% |
| Current assets | 29/58 | €105,072 | €51,281 | -€53,790 | -51.2% |
| Stocks and contracts in progress | 3 | €3,665 | - | -€3,665 | |
| Contracts in progress | 37 | €3,665 | - | -€3,665 | |
| Amounts receivable within one year | 40/41 | €51,940 | €11,411 | -€40,529 | -78.0% |
| Trade receivables | 40 | €51,940 | €11,411 | -€40,529 | -78.0% |
| Cash at bank and in hand | 54/58 | €49,466 | €39,870 | -€9,597 | -19.4% |
| Total equity and liabilities | 10/49 | €203,706 | €117,851 | -€85,855 | -42.1% |
| Equity | 10/15 | €20,156 | €6,101 | -€14,054 | -69.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,156 | €3,101 | -€14,054 | -81.9% |
| Amounts payable | 17/49 | €183,550 | €111,750 | -€71,800 | -39.1% |
| Amounts payable within one year | 42/48 | €183,163 | €111,350 | -€71,813 | -39.2% |
| Trade debts | 44 | €23,885 | €3,449 | -€20,436 | -85.6% |
| Suppliers | 440/4 | €23,885 | €3,449 | -€20,436 | -85.6% |
| Taxes, remuneration and social security | 45 | €835 | €1,110 | +€276 | +33.0% |
| Taxes | 450/3 | €835 | €1,110 | +€276 | +33.0% |
| Other amounts payable | 47/48 | €158,443 | €106,791 | -€51,652 | -32.6% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,064 | €32,064 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €46,253 | €18,546 | -€27,708 | -59.9% |
| Operating profit (loss) | 9901 | €13,739 | -€13,981 | -€27,720 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €51 | €75 | +€23 | +45.5% |
| Recurring financial charges | 65 | €51 | €75 | +€23 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €13,688 | -€14,054 | -€27,742 | |
| Profit (loss) for the period | 9904 | €13,688 | -€14,054 | -€27,742 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,688 | -€14,054 | -€27,742 |
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 29 October 2026 via checked.be.