ZANDALEE: 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.
ZANDALEE
Largest movements
- Stocks and contracts -€82,049
no longer reported in 2025 (was €82,049)
- Tangible fixed assets -€11,206
down €11,206 (-5.7%), from €195,272 to €184,066
of which Leasing and similar rights: -€11,177
- Receivables within one year +€4,119
up €4,119 (+182.9%), from €2,251 to €6,370
of which Other amounts receivable: +€3,457
- Trade debts -€50,103
down €50,103 (-95.6%), from €52,415 to €2,312
- Profit (loss) carried forward -€18,462
down €18,462 (-8.2%), from -€225,909 to -€244,370
- Other debts -€10,018
down €10,018 (-81.6%), from €12,273 to €2,255
- Tax, wage and social debts -€5,887
no longer reported in 2025 (was €5,887)
- Provisions -€4,650
down €4,650 (-5.5%), from €83,804 to €79,154
- Gross operating margin -€10,867
down €10,867, from €10,727 to -€140
- Other operating charges -€475
down €475 (-29.7%), from €1,599 to €1,124
- Financial charges -€282
down €282 (-4.2%), from €6,683 to €6,401
- Financial income +€153
up €153 (+59.2%), from €258 to €410
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.
Cash bridge derived
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 | €282,936 | €190,816 | -€92,120 | -32.6% |
| Fixed assets | 21/28 | €195,272 | €184,066 | -€11,206 | -5.7% |
| Tangible fixed assets | 22/27 | €195,272 | €184,066 | -€11,206 | -5.7% |
| Plant, machinery and equipment | 23 | €29 | - | -€29 | |
| Leasing and similar rights | 25 | €195,243 | €184,066 | -€11,177 | -5.7% |
| Current assets | 29/58 | €87,663 | €6,750 | -€80,913 | -92.3% |
| Stocks and contracts in progress | 3 | €82,049 | - | -€82,049 | |
| Stocks | 30/36 | €82,049 | - | -€82,049 | |
| Amounts receivable within one year | 40/41 | €2,251 | €6,370 | +€4,119 | +182.9% |
| Trade receivables | 40 | €2,097 | €2,759 | +€662 | +31.5% |
| Other amounts receivable | 41 | €154 | €3,611 | +€3,457 | +2240.3% |
| Cash at bank and in hand | 54/58 | €2,763 | €380 | -€2,383 | -86.2% |
| Deferred charges and accrued income | 490/1 | €600 | - | -€600 | |
| Total equity and liabilities | 10/49 | €282,936 | €190,816 | -€92,120 | -32.6% |
| Equity | 10/15 | -€30,259 | -€48,720 | -€18,462 | -61.0% |
| Contributions | 10/11 | €195,650 | €195,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,909 | -€244,370 | -€18,462 | -8.2% |
| Provisions and deferred taxes | 16 | €83,804 | €79,154 | -€4,650 | -5.5% |
| Provisions for liabilities and charges | 160/5 | €83,804 | €79,154 | -€4,650 | -5.5% |
| Other liabilities and charges | 164/5 | €83,804 | €79,154 | -€4,650 | -5.5% |
| Amounts payable | 17/49 | €229,390 | €160,382 | -€69,008 | -30.1% |
| Amounts payable after more than one year | 17 | €155,815 | €152,533 | -€3,282 | -2.1% |
| Financial debts | 170/4 | €155,815 | €152,533 | -€3,282 | -2.1% |
| Amounts payable within one year | 42/48 | €73,575 | €7,850 | -€65,726 | -89.3% |
| Current portion of amounts payable after more than one year | 42 | €3,001 | €3,282 | +€282 | +9.4% |
| Trade debts | 44 | €52,415 | €2,312 | -€50,103 | -95.6% |
| Suppliers | 440/4 | €52,415 | €2,312 | -€50,103 | -95.6% |
| Taxes, remuneration and social security | 45 | €5,887 | - | -€5,887 | |
| Taxes | 450/3 | €5,887 | - | -€5,887 | |
| Other amounts payable | 47/48 | €12,273 | €2,255 | -€10,018 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,295 | €11,206 | -€88 | -0.8% |
| Other operating charges | 640/8 | €1,599 | €1,124 | -€475 | -29.7% |
| Gross operating margin | 9900 | €10,727 | -€140 | -€10,867 | |
| Operating profit (loss) | 9901 | -€2,166 | -€12,471 | -€10,304 | -475.6% |
| Financial income | 75/76B | €258 | €410 | +€153 | +59.2% |
| Recurring financial income | 75 | €258 | €410 | +€153 | +59.2% |
| Financial charges | 65/66B | €6,683 | €6,401 | -€282 | -4.2% |
| Recurring financial charges | 65 | €6,683 | €6,401 | -€282 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,592 | -€18,462 | -€9,870 | -114.9% |
| Profit (loss) for the period | 9904 | -€8,592 | -€18,462 | -€9,870 | -114.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,592 | -€18,462 | -€9,870 | -114.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.