HET ZAND: 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.
HET ZAND
Largest movements
- Tangible fixed assets -€14,184
down €14,184 (-19.7%), from €72,136 to €57,951
- Stocks and contracts +€5,575
up €5,575 (+27.7%), from €20,103 to €25,678
- Receivables within one year -€5,313
down €5,313 (-71.1%), from €7,476 to €2,163
- Trade debts -€31,940
down €31,940 (-80.1%), from €39,894 to €7,954
- Debts after one year -€26,084
down €26,084 (-47.1%), from €55,365 to €29,281
- Tax, wage and social debts +€25,774
up €25,774 (+625%), from €4,123 to €29,898
of which Taxes: +€24,786
- Profit (loss) carried forward +€23,761
up €23,761 (+28.3%), from -€83,882 to -€60,121
- Other debts -€18,431
down €18,431 (-22.3%), from €82,478 to €64,047
- Gross operating margin +€118,292
up €118,292, from -€9,838 to €108,454
- Depreciation +€8,462
up €8,462 (+148%), from €5,722 to €14,184
- Other operating charges +€1,266
up €1,266 (+129%), from €980 to €2,247
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 | €107,978 | €94,745 | -€13,233 | -12.3% |
| Fixed assets | 21/28 | €78,536 | €64,351 | -€14,184 | -18.1% |
| Tangible fixed assets | 22/27 | €72,136 | €57,951 | -€14,184 | -19.7% |
| Plant, machinery and equipment | 23 | €8,032 | €4,337 | -€3,695 | -46.0% |
| Furniture and vehicles | 24 | €15,431 | €9,984 | -€5,447 | -35.3% |
| Other tangible fixed assets | 26 | €48,673 | €43,630 | -€5,043 | -10.4% |
| Financial fixed assets | 28 | €6,400 | €6,400 | = | 0.0% |
| Current assets | 29/58 | €29,442 | €30,394 | +€952 | +3.2% |
| Stocks and contracts in progress | 3 | €20,103 | €25,678 | +€5,575 | +27.7% |
| Stocks | 30/36 | €20,103 | €25,678 | +€5,575 | +27.7% |
| Amounts receivable within one year | 40/41 | €7,476 | €2,163 | -€5,313 | -71.1% |
| Other amounts receivable | 41 | €7,476 | €2,163 | -€5,313 | -71.1% |
| Cash at bank and in hand | 54/58 | €1,863 | €2,552 | +€690 | +37.0% |
| Total equity and liabilities | 10/49 | €107,978 | €94,745 | -€13,233 | -12.3% |
| Equity | 10/15 | -€73,882 | -€50,121 | +€23,761 | +32.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,882 | -€60,121 | +€23,761 | +28.3% |
| Amounts payable | 17/49 | €181,860 | €144,866 | -€36,994 | -20.3% |
| Amounts payable after more than one year | 17 | €55,365 | €29,281 | -€26,084 | -47.1% |
| Financial debts | 170/4 | €55,365 | €29,281 | -€26,084 | -47.1% |
| Amounts payable within one year | 42/48 | €126,495 | €115,586 | -€10,910 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | - | €13,686 | +€13,686 | |
| Trade debts | 44 | €39,894 | €7,954 | -€31,940 | -80.1% |
| Suppliers | 440/4 | €39,894 | €7,954 | -€31,940 | -80.1% |
| Taxes, remuneration and social security | 45 | €4,123 | €29,898 | +€25,774 | +625% |
| Taxes | 450/3 | - | €24,786 | +€24,786 | |
| Remuneration and social security | 454/9 | €4,123 | €5,112 | +€989 | +24.0% |
| Other amounts payable | 47/48 | €82,478 | €64,047 | -€18,431 | -22.3% |
| Remuneration, social security and pensions | 62 | €64,616 | €64,902 | +€286 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,722 | €14,184 | +€8,462 | +148% |
| Other operating charges | 640/8 | €980 | €2,247 | +€1,266 | +129% |
| Gross operating margin | 9900 | -€9,838 | €108,454 | +€118,292 | |
| Operating profit (loss) | 9901 | -€81,157 | €27,121 | +€108,278 | |
| Financial income | 75/76B | €3 | €73 | +€70 | +2,303% |
| Recurring financial income | 75 | €3 | €73 | +€70 | +2,303% |
| Financial charges | 65/66B | €2,727 | €3,433 | +€706 | +25.9% |
| Recurring financial charges | 65 | €2,727 | €3,433 | +€706 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | -€83,882 | €23,761 | +€107,642 | |
| Profit (loss) for the period | 9904 | -€83,882 | €23,761 | +€107,642 | |
| Profit (loss) for the period to be appropriated | 9905 | -€83,882 | €23,761 | +€107,642 |
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 23 October 2026 via checked.be.