STORM ZOERSEL: what changed
STORM ZOERSEL
Largest movements
- Current investments -€1.7m
down €1.7m (-100%), from €1.7m to €0
- Cash +€1.5m
up €1.5m (+5,045%), from €29,967 to €1.5m
mainly Current investments (+€1.7m) and Depreciation (+€622,831)
- Tangible fixed assets -€543,583
down €543,583 (-8.3%), from €6.6m to €6.0m
- Receivables within one year -€128,976
down €128,976 (-56.2%), from €229,449 to €100,473
of which Trade receivables: -€112,657
- Debts after one year -€314,734
down €314,734 (-7.4%), from €4.3m to €4.0m
- Reserves -€276,961
down €276,961 (-71.6%), from €386,835 to €109,873
of which Distributable reserves: -€276,961
- Trade debts -€180,942
down €180,942 (-96.0%), from €188,407 to €7,465
- Profit (loss) carried forward -€108,740
down €108,740, from €0 to -€108,740
- Gross operating margin -€297,803
down €297,803 (-49.9%), from €596,722 to €298,918
- Depreciation -€57,751
down €57,751 (-8.5%), from €680,582 to €622,831
- Financial income -€33,261
down €33,261 (-58.5%), from €56,842 to €23,581
- Taxes -€9,097
down €9,097 (-72.8%), from €12,492 to €3,395
- Financial charges -€7,108
down €7,108 (-8.1%), from €87,493 to €80,385
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,638,718 | €7,749,463 | -€889,255 | -10.3% |
| Formation expenses | 20 | €723 | €175 | -€548 | -75.7% |
| Fixed assets | 21/28 | €6,685,097 | €6,062,813 | -€622,284 | -9.3% |
| Intangible fixed assets | 21 | €109,668 | €30,967 | -€78,701 | -71.8% |
| Tangible fixed assets | 22/27 | €6,575,429 | €6,031,846 | -€543,583 | -8.3% |
| Plant, machinery and equipment | 23 | €6,575,429 | €6,031,846 | -€543,583 | -8.3% |
| Current assets | 29/58 | €1,952,899 | €1,686,475 | -€266,424 | -13.6% |
| Amounts receivable within one year | 40/41 | €229,449 | €100,473 | -€128,976 | -56.2% |
| Trade receivables | 40 | €205,244 | €92,586 | -€112,657 | -54.9% |
| Other amounts receivable | 41 | €24,206 | €7,887 | -€16,319 | -67.4% |
| Current investments | 50/53 | €1,650,000 | €0 | -€1.7m | -100% |
| Cash at bank and in hand | 54/58 | €29,967 | €1,541,833 | +€1.5m | +5,045% |
| Deferred charges and accrued income | 490/1 | €43,483 | €44,168 | +€686 | +1.6% |
| Total equity and liabilities | 10/49 | €8,638,718 | €7,749,463 | -€889,255 | -10.3% |
| Equity | 10/15 | €3,824,628 | €3,438,927 | -€385,702 | -10.1% |
| Contributions | 10/11 | €3,437,793 | €3,437,793 | = | 0.0% |
| Capital | 10 | €3,437,793 | €3,437,793 | = | 0.0% |
| Issued capital | 100 | €3,437,793 | €3,437,793 | = | 0.0% |
| Reserves | 13 | €386,835 | €109,873 | -€276,961 | -71.6% |
| Non-distributable reserves | 130/1 | €109,873 | €109,873 | = | 0.0% |
| Legal reserve | 130 | €109,873 | €109,873 | = | 0.0% |
| Distributable reserves | 133 | €276,961 | €0 | -€276,961 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€108,740 | -€108,740 | |
| Amounts payable | 17/49 | €4,814,090 | €4,310,537 | -€503,554 | -10.5% |
| Amounts payable after more than one year | 17 | €4,266,463 | €3,951,729 | -€314,734 | -7.4% |
| Financial debts | 170/4 | €4,266,463 | €3,951,729 | -€314,734 | -7.4% |
| Amounts payable within one year | 42/48 | €519,898 | €332,876 | -€187,022 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €319,122 | €314,734 | -€4,388 | -1.4% |
| Trade debts | 44 | €188,407 | €7,465 | -€180,942 | -96.0% |
| Suppliers | 440/4 | €188,407 | €7,465 | -€180,942 | -96.0% |
| Taxes, remuneration and social security | 45 | €12,368 | €10,676 | -€1,692 | -13.7% |
| Taxes | 450/3 | €12,368 | €10,676 | -€1,692 | -13.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €27,730 | €25,932 | -€1,798 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €680,582 | €622,831 | -€57,751 | -8.5% |
| Other operating charges | 640/8 | €1,732 | €1,590 | -€142 | -8.2% |
| Gross operating margin | 9900 | €596,722 | €298,918 | -€297,803 | -49.9% |
| Operating profit (loss) | 9901 | -€85,593 | -€325,503 | -€239,910 | -280% |
| Financial income | 75/76B | €56,842 | €23,581 | -€33,261 | -58.5% |
| Recurring financial income | 75 | €56,842 | €23,581 | -€33,261 | -58.5% |
| Financial charges | 65/66B | €87,493 | €80,385 | -€7,108 | -8.1% |
| Recurring financial charges | 65 | €87,493 | €80,385 | -€7,108 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€116,244 | -€382,307 | -€266,063 | -229% |
| Income taxes | 67/77 | €12,492 | €3,395 | -€9,097 | -72.8% |
| Profit (loss) for the period | 9904 | -€128,736 | -€385,702 | -€256,966 | -200% |
| Profit (loss) for the period to be appropriated | 9905 | -€128,736 | -€385,702 | -€256,966 | -200% |
Next steps
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 2 November 2026 via checked.be.