Zandberg: 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.
Zandberg
Largest movements
- Financial fixed assets +€210,000
up €210,000 (+2.5%), from €8.3m to €8.5m
- Cash +€127,344
up €127,344 (+17,721%), from €719 to €128,062
mainly Debts after one year (+€150,000) and Receivables after one year (+€125,000)
- Receivables after one year -€125,000
down €125,000 (-22.4%), from €558,333 to €433,333
- Debts after one year +€150,000
up €150,000 (+23.1%), from €650,000 to €800,000
- Financial charges -€11,667
down €11,667 (-97.9%), from €11,917 to €250
- Financial income -€8,335
down €8,335 (-97.3%), from €8,566 to €231
of which Financial income: -€8,335
- Gross operating margin -€7,352
down €7,352, from €4,841 to -€2,510
- Depreciation +€88
up €88 (+20.1%), from €438 to €526
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 | €9,055,774 | €9,198,556 | +€142,782 | +1.6% |
| Fixed assets | 21/28 | €8,342,423 | €8,551,897 | +€209,474 | +2.5% |
| Intangible fixed assets | 21 | €1,210 | €1,210 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,463 | €937 | -€526 | -36.0% |
| Plant, machinery and equipment | 23 | €406 | €122 | -€284 | -69.9% |
| Furniture and vehicles | 24 | €1,057 | €815 | -€242 | -22.9% |
| Financial fixed assets | 28 | €8,339,750 | €8,549,750 | +€210,000 | +2.5% |
| Current assets | 29/58 | €713,351 | €646,660 | -€66,692 | -9.3% |
| Amounts receivable after more than one year | 29 | €558,333 | €433,333 | -€125,000 | -22.4% |
| Other amounts receivable | 291 | €558,333 | €433,333 | -€125,000 | -22.4% |
| Amounts receivable within one year | 40/41 | €152,715 | €85,260 | -€67,456 | -44.2% |
| Trade receivables | 40 | €141,273 | €80,655 | -€60,618 | -42.9% |
| Other amounts receivable | 41 | €11,442 | €4,604 | -€6,838 | -59.8% |
| Cash at bank and in hand | 54/58 | €719 | €128,062 | +€127,344 | +17,721% |
| Deferred charges and accrued income | 490/1 | €1,584 | €4 | -€1,580 | -99.7% |
| Total equity and liabilities | 10/49 | €9,055,774 | €9,198,556 | +€142,782 | +1.6% |
| Equity | 10/15 | €8,383,102 | €8,378,928 | -€4,174 | 0.0% |
| Contributions | 10/11 | €506,200 | €506,200 | = | 0.0% |
| Revaluation surpluses | 12 | €1,049,749 | €1,049,749 | = | 0.0% |
| Reserves | 13 | €6,827,153 | €6,822,979 | -€4,174 | -0.1% |
| Distributable reserves | 133 | €6,827,153 | €6,822,979 | -€4,174 | -0.1% |
| Amounts payable | 17/49 | €672,672 | €819,628 | +€146,957 | +21.8% |
| Amounts payable after more than one year | 17 | €650,000 | €800,000 | +€150,000 | +23.1% |
| Financial debts | 170/4 | €650,000 | €800,000 | +€150,000 | +23.1% |
| Amounts payable within one year | 42/48 | €22,672 | €19,628 | -€3,043 | -13.4% |
| Trade debts | 44 | €20,981 | €19,412 | -€1,570 | -7.5% |
| Suppliers | 440/4 | €20,981 | €19,412 | -€1,570 | -7.5% |
| Taxes, remuneration and social security | 45 | €1,690 | €217 | -€1,474 | -87.2% |
| Taxes | 450/3 | €1,690 | €217 | -€1,474 | -87.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €438 | €526 | +€88 | +20.1% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €4,841 | -€2,510 | -€7,352 | |
| Operating profit (loss) | 9901 | €3,318 | -€4,155 | -€7,473 | |
| Financial income | 75/76B | €8,566 | €231 | -€8,335 | -97.3% |
| Recurring financial income | 75 | €8,566 | €231 | -€8,335 | -97.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €11,917 | €250 | -€11,667 | -97.9% |
| Recurring financial charges | 65 | €11,917 | €250 | -€11,667 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | -€34 | -€4,174 | -€4,141 | -12,287% |
| Profit (loss) for the period | 9904 | -€34 | -€4,174 | -€4,141 | -12,287% |
| Profit (loss) for the period to be appropriated | 9905 | -€34 | -€4,174 | -€4,141 | -12,287% |
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 29 October 2026 via checked.be.