't 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.
't Zand
Largest movements
- Tangible fixed assets -€24,422
down €24,422 (-3.1%), from €786,815 to €762,393
of which Other tangible fixed assets: -€20,828
- Profit (loss) carried forward -€15,571
down €15,571 (-8.0%), from -€195,411 to -€210,982
- Gross operating margin -€3,793
down €3,793 (-20.5%), from €18,482 to €14,689
- Depreciation -€929
down €929 (-3.7%), from €25,351 to €24,422
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 | €801,683 | €776,517 | -€25,166 | -3.1% |
| Fixed assets | 21/28 | €786,815 | €762,393 | -€24,422 | -3.1% |
| Tangible fixed assets | 22/27 | €786,815 | €762,393 | -€24,422 | -3.1% |
| Land and buildings | 22 | €591,741 | €589,661 | -€2,080 | -0.4% |
| Plant, machinery and equipment | 23 | €7,415 | €5,901 | -€1,514 | -20.4% |
| Other tangible fixed assets | 26 | €187,659 | €166,831 | -€20,828 | -11.1% |
| Current assets | 29/58 | €14,868 | €14,124 | -€744 | -5.0% |
| Amounts receivable within one year | 40/41 | €9,000 | €9,000 | = | 0.0% |
| Other amounts receivable | 41 | €9,000 | €9,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,905 | €3,108 | -€797 | -20.4% |
| Deferred charges and accrued income | 490/1 | €1,963 | €2,016 | +€53 | +2.7% |
| Total equity and liabilities | 10/49 | €801,683 | €776,517 | -€25,166 | -3.1% |
| Equity | 10/15 | €605,712 | €590,141 | -€15,571 | -2.6% |
| Contributions | 10/11 | €298,000 | €298,000 | = | 0.0% |
| Capital | 10 | €298,000 | €298,000 | = | 0.0% |
| Issued capital | 100 | €298,000 | €298,000 | = | 0.0% |
| Revaluation surpluses | 12 | €501,290 | €501,290 | = | 0.0% |
| Reserves | 13 | €1,833 | €1,833 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,833 | €1,833 | = | 0.0% |
| Legal reserve | 130 | €1,833 | €1,833 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€195,411 | -€210,982 | -€15,571 | -8.0% |
| Amounts payable | 17/49 | €195,971 | €186,376 | -€9,595 | -4.9% |
| Amounts payable within one year | 42/48 | €195,971 | €186,376 | -€9,595 | -4.9% |
| Trade debts | 44 | €3,009 | €990 | -€2,019 | -67.1% |
| Suppliers | 440/4 | €3,009 | €990 | -€2,019 | -67.1% |
| Other amounts payable | 47/48 | €192,962 | €185,386 | -€7,576 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,351 | €24,422 | -€929 | -3.7% |
| Other operating charges | 640/8 | €5,616 | €5,758 | +€142 | +2.5% |
| Gross operating margin | 9900 | €18,482 | €14,689 | -€3,793 | -20.5% |
| Operating profit (loss) | 9901 | -€12,485 | -€15,491 | -€3,006 | -24.1% |
| Financial charges | 65/66B | €73 | €80 | +€7 | +9.6% |
| Recurring financial charges | 65 | €73 | €80 | +€7 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,558 | -€15,571 | -€3,013 | -24.0% |
| Profit (loss) for the period | 9904 | -€12,558 | -€15,571 | -€3,013 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,558 | -€15,571 | -€3,013 | -24.0% |
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 27 October 2026 via checked.be.