SEAFRONT ZEEBRUGGE: what changed
What changed
SEAFRONT ZEEBRUGGE
NACE 91.220, Libraries, archives, museums and other cultural activities
filed annual accounts (NBB)
Net result for the year
-€176,077
2024 · -€180,195+€4,118
Equity
-€971,416
2024 · -€795,339-€176,077
Cash
€48,777
2024 · €111,620-€62,842
Balance sheet total
€13.2m
2024 · €12.7m+€482,038
Largest movements
Assets
- Tangible fixed assets +€551,228
up €551,228 (+4.6%), from €12.1m to €12.6m
of which Assets under construction and advance payments: +€591,446
Equity and liabilities
- Debts after one year +€734,538
up €734,538 (+5.5%), from €13.4m to €14.1m
- Profit (loss) carried forward -€176,077
down €176,077 (-3.1%), from -€5.7m to -€5.9m
Income statement
- Gross operating margin +€44,923
up €44,923 (+31.0%), from €144,944 to €189,868
- Financial charges +€34,190
up €34,190 (+38.6%), from €88,511 to €122,701
- Other operating charges -€7,361
down €7,361 (-13.5%), from €54,634 to €47,272
- Staff costs +€6,828
up €6,828 (+8.3%), from €82,331 to €89,159
- Write-downs +€6,528
up €6,528 (+400%), from €1,634 to €8,161
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€180,195
Gross operating margin
+€44,923
Staff costs
-€6,828
Depreciation
-€1,132
Write-downs
-€6,528
Other operating charges
+€7,361
Financial income
+€102
Financial charges
-€34,190
Taxes
+€409
Result 2025
-€176,077
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€147,573
Investment
-€649,807
Financing
+€734,538
Cash 2024
€111,620
From operations (derived)
-€147,573
Net result for the year
-€176,077
Depreciation
+€98,579
Stocks and contracts
-€24,618
Receivables within one year
+€20,001
Deferred charges and accrued income
+€10,964
Trade debts
-€69,571
Tax, wage and social debts
-€6,138
Other debts
-€2,295
Accrued charges and deferred income
+€1,582
Investment (derived)
-€649,807
Investment in fixed assets (net)
-€649,807
Financing
+€734,538
Debts after one year
+€734,538
Cash 2025
€48,777
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,741,009 | €13,223,047 | +€482,038 | +3.8% |
| Fixed assets | 21/28 | €12,084,426 | €12,635,654 | +€551,228 | +4.6% |
| Tangible fixed assets | 22/27 | €12,084,125 | €12,635,353 | +€551,228 | +4.6% |
| Land and buildings | 22 | €11,377,382 | €11,349,382 | -€28,000 | -0.2% |
| Plant, machinery and equipment | 23 | €48,033 | €36,000 | -€12,033 | -25.1% |
| Furniture and vehicles | 24 | €370 | €185 | -€185 | -50.1% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | €658,340 | €1,249,786 | +€591,446 | +89.8% |
| Financial fixed assets | 28 | €301 | €301 | = | 0.0% |
| Current assets | 29/58 | €656,583 | €587,393 | -€69,190 | -10.5% |
| Stocks and contracts in progress | 3 | €501,202 | €525,820 | +€24,618 | +4.9% |
| Stocks | 30/36 | €501,202 | €525,820 | +€24,618 | +4.9% |
| Amounts receivable within one year | 40/41 | €31,661 | €11,660 | -€20,001 | -63.2% |
| Trade receivables | 40 | €31,485 | €11,534 | -€19,952 | -63.4% |
| Other amounts receivable | 41 | €175 | €126 | -€49 | -28.2% |
| Cash at bank and in hand | 54/58 | €111,620 | €48,777 | -€62,842 | -56.3% |
| Deferred charges and accrued income | 490/1 | €12,100 | €1,137 | -€10,964 | -90.6% |
| Total equity and liabilities | 10/49 | €12,741,009 | €13,223,047 | +€482,038 | +3.8% |
| Equity | 10/15 | -€795,339 | -€971,416 | -€176,077 | -22.1% |
| Contributions | 10/11 | €4,934,758 | €4,934,758 | = | 0.0% |
| Capital | 10 | €4,934,758 | €4,934,758 | = | 0.0% |
| Issued capital | 100 | €4,934,758 | €4,934,758 | = | 0.0% |
| Reserves | 13 | €139 | €139 | = | 0.0% |
| Non-distributable reserves | 130/1 | €139 | €139 | = | 0.0% |
| Legal reserve | 130 | €139 | €139 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,730,236 | -€5,906,313 | -€176,077 | -3.1% |
| Amounts payable | 17/49 | €13,536,348 | €14,194,463 | +€658,115 | +4.9% |
| Amounts payable after more than one year | 17 | €13,405,590 | €14,140,128 | +€734,538 | +5.5% |
| Financial debts | 170/4 | €13,405,590 | €14,140,128 | +€734,538 | +5.5% |
| Amounts payable within one year | 42/48 | €128,309 | €50,305 | -€78,004 | -60.8% |
| Trade debts | 44 | €78,303 | €8,732 | -€69,571 | -88.8% |
| Suppliers | 440/4 | €78,303 | €8,732 | -€69,571 | -88.8% |
| Taxes, remuneration and social security | 45 | €17,382 | €11,243 | -€6,138 | -35.3% |
| Taxes | 450/3 | €8,474 | €1,190 | -€7,283 | -86.0% |
| Remuneration and social security | 454/9 | €8,908 | €10,053 | +€1,145 | +12.9% |
| Other amounts payable | 47/48 | €32,625 | €30,330 | -€2,295 | -7.0% |
| Accrued charges and deferred income | 492/3 | €2,448 | €4,030 | +€1,582 | +64.6% |
| Remuneration, social security and pensions | 62 | €82,331 | €89,159 | +€6,828 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,447 | €98,579 | +€1,132 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,634 | €8,161 | +€6,528 | +400% |
| Other operating charges | 640/8 | €54,634 | €47,272 | -€7,361 | -13.5% |
| Gross operating margin | 9900 | €144,944 | €189,868 | +€44,923 | +31.0% |
| Operating profit (loss) | 9901 | -€91,102 | -€53,304 | +€37,797 | +41.5% |
| Financial income | 75/76B | €0 | €102 | +€102 | +1,020,600% |
| Recurring financial income | 75 | €0 | €102 | +€102 | +1,020,600% |
| Financial charges | 65/66B | €88,511 | €122,701 | +€34,190 | +38.6% |
| Recurring financial charges | 65 | €88,511 | €122,701 | +€34,190 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | -€179,613 | -€175,903 | +€3,710 | +2.1% |
| Income taxes | 67/77 | €583 | €174 | -€409 | -70.1% |
| Profit (loss) for the period | 9904 | -€180,195 | -€176,077 | +€4,118 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€180,195 | -€176,077 | +€4,118 | +2.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.