VAN ZANTBEEK: what changed
VAN ZANTBEEK
Largest movements
- Tangible fixed assets +€734,068
up €734,068 (+17.5%), from €4.2m to €4.9m
of which Other tangible fixed assets: +€807,013
- Cash -€379,046
down €379,046 (-84.7%), from €447,452 to €68,406
mainly Investment in fixed assets (net) (-€1.1m) and Current portion of long-term debt (-€1.1m)
- Receivables within one year -€239,838
down €239,838 (-93.8%), from €255,699 to €15,861
of which Other amounts receivable: -€238,124
- Financial fixed assets +€202,650
up €202,650 (+30.0%), from €676,451 to €879,101
- Current investments -€160,358
no longer reported in 2025 (was €160,358)
- Current portion of long-term debt -€1.1m
down €1.1m (-84.3%), from €1.3m to €201,829
- Debts after one year +€1.1m
up €1.1m (+73.8%), from €1.4m to €2.5m
- Other debts +€400,000
new in 2025: €400,000
- Trade debts -€133,151
down €133,151 (-93.2%), from €142,940 to €9,789
- Profit (loss) carried forward -€75,258
down €75,258 (-2.7%), from €2.8m to €2.7m
- Financial income -€53,129
down €53,129 (-82.4%), from €64,492 to €11,363
- Depreciation +€37,852
up €37,852 (+29.6%), from €128,010 to €165,862
- Gross operating margin -€32,612
down €32,612 (-4.2%), from €783,262 to €750,649
- Taxes -€27,905
down €27,905 (-19.7%), from €141,858 to €113,954
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 | €5,741,800 | €5,894,786 | +€152,986 | +2.7% |
| Fixed assets | 21/28 | €4,864,406 | €5,801,124 | +€936,718 | +19.3% |
| Tangible fixed assets | 22/27 | €4,187,955 | €4,922,023 | +€734,068 | +17.5% |
| Land and buildings | 22 | €328,884 | €274,070 | -€54,814 | -16.7% |
| Plant, machinery and equipment | 23 | €5,507 | €14,470 | +€8,963 | +163% |
| Furniture and vehicles | 24 | €74,011 | €51,037 | -€22,974 | -31.0% |
| Other tangible fixed assets | 26 | €3,775,433 | €4,582,446 | +€807,013 | +21.4% |
| Assets under construction and advance payments | 27 | €4,120 | - | -€4,120 | |
| Financial fixed assets | 28 | €676,451 | €879,101 | +€202,650 | +30.0% |
| Current assets | 29/58 | €877,394 | €93,662 | -€783,731 | -89.3% |
| Amounts receivable within one year | 40/41 | €255,699 | €15,861 | -€239,838 | -93.8% |
| Trade receivables | 40 | €5,658 | €3,944 | -€1,714 | -30.3% |
| Other amounts receivable | 41 | €250,042 | €11,918 | -€238,124 | -95.2% |
| Current investments | 50/53 | €160,358 | - | -€160,358 | |
| Cash at bank and in hand | 54/58 | €447,452 | €68,406 | -€379,046 | -84.7% |
| Deferred charges and accrued income | 490/1 | €13,885 | €9,395 | -€4,489 | -32.3% |
| Total equity and liabilities | 10/49 | €5,741,800 | €5,894,786 | +€152,986 | +2.7% |
| Equity | 10/15 | €2,856,393 | €2,781,135 | -€75,258 | -2.6% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,817,893 | €2,742,635 | -€75,258 | -2.7% |
| Amounts payable | 17/49 | €2,885,407 | €3,113,651 | +€228,244 | +7.9% |
| Amounts payable after more than one year | 17 | €1,425,365 | €2,476,637 | +€1.1m | +73.8% |
| Financial debts | 170/4 | €1,425,365 | €2,476,637 | +€1.1m | +73.8% |
| Amounts payable within one year | 42/48 | €1,460,042 | €635,995 | -€824,047 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €1,286,620 | €201,829 | -€1.1m | -84.3% |
| Trade debts | 44 | €142,940 | €9,789 | -€133,151 | -93.2% |
| Suppliers | 440/4 | €142,940 | €9,789 | -€133,151 | -93.2% |
| Taxes, remuneration and social security | 45 | €30,482 | €24,377 | -€6,105 | -20.0% |
| Taxes | 450/3 | €24,941 | €18,757 | -€6,185 | -24.8% |
| Remuneration and social security | 454/9 | €5,541 | €5,620 | +€79 | +1.4% |
| Other amounts payable | 47/48 | - | €400,000 | +€400,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,019 | +€1,019 | |
| Remuneration, social security and pensions | 62 | €44,197 | €43,356 | -€841 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,010 | €165,862 | +€37,852 | +29.6% |
| Other operating charges | 640/8 | €7,978 | €10,034 | +€2,056 | +25.8% |
| Gross operating margin | 9900 | €783,262 | €750,649 | -€32,612 | -4.2% |
| Operating profit (loss) | 9901 | €603,077 | €531,397 | -€71,680 | -11.9% |
| Financial income | 75/76B | €64,492 | €11,363 | -€53,129 | -82.4% |
| Recurring financial income | 75 | €64,492 | €11,363 | -€53,129 | -82.4% |
| Financial charges | 65/66B | €107,632 | €104,064 | -€3,568 | -3.3% |
| Recurring financial charges | 65 | €107,632 | €104,064 | -€3,568 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €559,936 | €438,696 | -€121,240 | -21.7% |
| Income taxes | 67/77 | €141,858 | €113,954 | -€27,905 | -19.7% |
| Profit (loss) for the period | 9904 | €418,078 | €324,742 | -€93,336 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €418,078 | €324,742 | -€93,336 | -22.3% |
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 4 November 2026 via checked.be.