ROB ZUIDAM: 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.
ROB ZUIDAM
Largest movements
- Receivables within one year +€18,831
up €18,831 (+37.5%), from €50,203 to €69,034
of which Other amounts receivable: +€20,849
- Tangible fixed assets -€3,064
down €3,064 (-22.9%), from €13,354 to €10,290
of which Land and buildings: -€1,704
- Reserves +€9,181
up €9,181 (+16.2%), from €56,647 to €65,828
of which Distributable reserves: +€9,181
- Tax, wage and social debts +€7,625
up €7,625 (+691%), from €1,103 to €8,728
- Gross operating margin +€15,802
up €15,802, from -€597 to €15,206
- Taxes +€4,225
up €4,225 (+3,301%), from €128 to €4,353
- Financial income +€562
up €562 (+23.0%), from €2,448 to €3,010
- Other operating charges +€396
up €396 (+51.2%), from €773 to €1,169
- Financial charges +€281
up €281 (+167%), from €167 to €448
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 | €65,199 | €81,221 | +€16,022 | +24.6% |
| Fixed assets | 21/28 | €13,683 | €10,619 | -€3,064 | -22.4% |
| Tangible fixed assets | 22/27 | €13,354 | €10,290 | -€3,064 | -22.9% |
| Land and buildings | 22 | €9,274 | €7,570 | -€1,704 | -18.4% |
| Furniture and vehicles | 24 | €4,080 | €2,720 | -€1,360 | -33.3% |
| Financial fixed assets | 28 | €329 | €329 | = | 0.0% |
| Current assets | 29/58 | €51,516 | €70,602 | +€19,087 | +37.1% |
| Amounts receivable within one year | 40/41 | €50,203 | €69,034 | +€18,831 | +37.5% |
| Trade receivables | 40 | €6,002 | €3,984 | -€2,018 | -33.6% |
| Other amounts receivable | 41 | €44,201 | €65,050 | +€20,849 | +47.2% |
| Cash at bank and in hand | 54/58 | €1,313 | €1,508 | +€196 | +14.9% |
| Deferred charges and accrued income | 490/1 | - | €60 | +€60 | |
| Total equity and liabilities | 10/49 | €65,199 | €81,221 | +€16,022 | +24.6% |
| Equity | 10/15 | €62,897 | €72,078 | +€9,181 | +14.6% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €56,647 | €65,828 | +€9,181 | +16.2% |
| Tax-exempt reserves | 132 | €14,080 | €14,080 | = | 0.0% |
| Distributable reserves | 133 | €42,567 | €51,748 | +€9,181 | +21.6% |
| Amounts payable | 17/49 | €2,301 | €9,142 | +€6,841 | +297% |
| Amounts payable within one year | 42/48 | €2,301 | €9,094 | +€6,793 | +295% |
| Financial debts | 43 | €139 | - | -€139 | |
| Credit institutions | 430/8 | €139 | - | -€139 | |
| Trade debts | 44 | €1,060 | €367 | -€693 | -65.4% |
| Suppliers | 440/4 | €1,060 | €367 | -€693 | -65.4% |
| Taxes, remuneration and social security | 45 | €1,103 | €8,728 | +€7,625 | +691% |
| Taxes | 450/3 | €1,103 | €8,728 | +€7,625 | +691% |
| Accrued charges and deferred income | 492/3 | - | €48 | +€48 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,064 | €3,064 | = | 0.0% |
| Other operating charges | 640/8 | €773 | €1,169 | +€396 | +51.2% |
| Gross operating margin | 9900 | -€597 | €15,206 | +€15,802 | |
| Operating profit (loss) | 9901 | -€4,434 | €10,972 | +€15,406 | |
| Financial income | 75/76B | €2,448 | €3,010 | +€562 | +23.0% |
| Recurring financial income | 75 | €2,448 | €3,010 | +€562 | +23.0% |
| Financial charges | 65/66B | €167 | €448 | +€281 | +167% |
| Recurring financial charges | 65 | €167 | €448 | +€281 | +167% |
| Profit (loss) for the period before taxes | 9903 | -€2,154 | €13,534 | +€15,688 | |
| Income taxes | 67/77 | €128 | €4,353 | +€4,225 | +3,301% |
| Profit (loss) for the period | 9904 | -€2,282 | €9,181 | +€11,463 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,282 | €9,181 | +€11,463 |
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 20 October 2026 via checked.be.