HET ZUIDERLICHT: 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 ZUIDERLICHT
Largest movements
- Cash +€35,428
up €35,428 (+364%), from €9,721 to €45,148
mainly Net result for the year (+€22,474) and Other debts (+€9,747)
- Stocks and contracts -€4,631
down €4,631 (-90.9%), from €5,097 to €466
- Deferred charges and accrued income +€3,747
up €3,747 (+96.3%), from €3,892 to €7,640
- Reserves +€22,474
up €22,474 (+32.9%), from €68,272 to €90,746
- Other debts +€9,747
up €9,747 (+169%), from €5,784 to €15,532
- Trade debts +€3,647
up €3,647 (+76.2%), from €4,786 to €8,434
- Gross operating margin +€21,814
up €21,814 (+20.9%), from €104,360 to €126,174
- Staff costs -€10,099
down €10,099 (-10.1%), from €99,839 to €89,740
- Taxes +€9,698
up €9,698 (+672%), from €1,443 to €11,141
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 | €162,208 | €197,131 | +€34,923 | +21.5% |
| Fixed assets | 21/28 | €15,232 | €14,569 | -€663 | -4.4% |
| Tangible fixed assets | 22/27 | €2,660 | €1,997 | -€663 | -24.9% |
| Plant, machinery and equipment | 23 | €658 | €782 | +€124 | +18.9% |
| Furniture and vehicles | 24 | €823 | €330 | -€493 | -59.9% |
| Other tangible fixed assets | 26 | €1,179 | €884 | -€295 | -25.0% |
| Financial fixed assets | 28 | €12,573 | €12,573 | = | 0.0% |
| Current assets | 29/58 | €146,975 | €182,561 | +€35,586 | +24.2% |
| Amounts receivable after more than one year | 29 | €128,000 | €128,000 | = | 0.0% |
| Other amounts receivable | 291 | €128,000 | €128,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,097 | €466 | -€4,631 | -90.9% |
| Stocks | 30/36 | €5,097 | €466 | -€4,631 | -90.9% |
| Amounts receivable within one year | 40/41 | €265 | €1,307 | +€1,042 | +394% |
| Trade receivables | 40 | €265 | €789 | +€524 | +198% |
| Other amounts receivable | 41 | - | €518 | +€518 | |
| Cash at bank and in hand | 54/58 | €9,721 | €45,148 | +€35,428 | +364% |
| Deferred charges and accrued income | 490/1 | €3,892 | €7,640 | +€3,747 | +96.3% |
| Total equity and liabilities | 10/49 | €162,208 | €197,131 | +€34,923 | +21.5% |
| Equity | 10/15 | €135,681 | €158,156 | +€22,474 | +16.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €68,272 | €90,746 | +€22,474 | +32.9% |
| Distributable reserves | 133 | €68,272 | €90,746 | +€22,474 | +32.9% |
| Profit (loss) carried forward | 14 | €61,210 | €61,210 | = | 0.0% |
| Amounts payable | 17/49 | €26,526 | €38,975 | +€12,449 | +46.9% |
| Amounts payable within one year | 42/48 | €26,526 | €38,975 | +€12,449 | +46.9% |
| Trade debts | 44 | €4,786 | €8,434 | +€3,647 | +76.2% |
| Suppliers | 440/4 | €4,786 | €8,434 | +€3,647 | +76.2% |
| Taxes, remuneration and social security | 45 | €15,956 | €15,009 | -€946 | -5.9% |
| Taxes | 450/3 | €5,956 | €7,719 | +€1,764 | +29.6% |
| Remuneration and social security | 454/9 | €10,000 | €7,290 | -€2,710 | -27.1% |
| Other amounts payable | 47/48 | €5,784 | €15,532 | +€9,747 | +169% |
| Remuneration, social security and pensions | 62 | €99,839 | €89,740 | -€10,099 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,158 | €1,117 | -€41 | -3.6% |
| Other operating charges | 640/8 | €1,617 | €2,302 | +€685 | +42.3% |
| Non-recurring operating charges | 66A | €166 | - | -€166 | |
| Gross operating margin | 9900 | €104,360 | €126,174 | +€21,814 | +20.9% |
| Operating profit (loss) | 9901 | €1,580 | €33,015 | +€31,435 | +1,990% |
| Financial income | 75/76B | €3,200 | €3,200 | +€0 | 0.0% |
| Recurring financial income | 75 | €3,200 | €3,200 | +€0 | 0.0% |
| Financial charges | 65/66B | €2,311 | €2,600 | +€289 | +12.5% |
| Recurring financial charges | 65 | €2,311 | €2,600 | +€289 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €2,469 | €33,616 | +€31,146 | +1,261% |
| Income taxes | 67/77 | €1,443 | €11,141 | +€9,698 | +672% |
| Profit (loss) for the period | 9904 | €1,026 | €22,474 | +€21,448 | +2,090% |
| Profit (loss) for the period to be appropriated | 9905 | €1,026 | €22,474 | +€21,448 | +2,090% |
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 24 October 2026 via checked.be.