ZANDHOF: what changed
ZANDHOF
Largest movements
- Tangible fixed assets +€400,000
up €400,000 (+40.0%), from €1.0m to €1.4m
- Cash +€29,794
up €29,794 (+89.4%), from €33,311 to €63,105
mainly Debts after one year (+€425,122) and Trade debts (+€15,625)
- Debts after one year +€425,122
up €425,122 (+60.3%), from €704,613 to €1.1m
- Trade debts +€15,625
up €15,625 (+1,534%), from €1,019 to €16,644
- Reserves +€14,969
up €14,969 (+16.0%), from €93,673 to €108,642
of which Distributable reserves: +€14,969
- Taxes -€14,053
down €14,053 (-73.8%), from €19,043 to €4,990
- Financial charges +€4,996
up €4,996 (+16.4%), from €30,436 to €35,432
- Gross operating margin -€3,131
down €3,131 (-2.8%), from €113,318 to €110,187
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 | €1,033,348 | €1,489,064 | +€455,717 | +44.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,000,000 | €1,400,000 | +€400,000 | +40.0% |
| Tangible fixed assets | 22/27 | €1,000,000 | €1,400,000 | +€400,000 | +40.0% |
| Land and buildings | 22 | €1,000,000 | €1,400,000 | +€400,000 | +40.0% |
| Current assets | 29/58 | €33,348 | €89,064 | +€55,717 | +167% |
| Stocks and contracts in progress | 3 | - | €13,120 | +€13,120 | |
| Contracts in progress | 37 | - | €13,120 | +€13,120 | |
| Amounts receivable within one year | 40/41 | €37 | €12,839 | +€12,802 | +34,789% |
| Other amounts receivable | 41 | €37 | €12,839 | +€12,802 | +34,789% |
| Cash at bank and in hand | 54/58 | €33,311 | €63,105 | +€29,794 | +89.4% |
| Total equity and liabilities | 10/49 | €1,033,348 | €1,489,064 | +€455,717 | +44.1% |
| Equity | 10/15 | €323,673 | €338,642 | +€14,969 | +4.6% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Capital | 10 | €230,000 | €230,000 | = | 0.0% |
| Issued capital | 100 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €93,673 | €108,642 | +€14,969 | +16.0% |
| Non-distributable reserves | 130/1 | €23,000 | €23,000 | = | 0.0% |
| Legal reserve | 130 | €23,000 | €23,000 | = | 0.0% |
| Distributable reserves | 133 | €70,673 | €85,642 | +€14,969 | +21.2% |
| Amounts payable | 17/49 | €709,675 | €1,150,422 | +€440,748 | +62.1% |
| Amounts payable after more than one year | 17 | €704,613 | €1,129,736 | +€425,122 | +60.3% |
| Financial debts | 170/4 | €704,613 | €1,129,736 | +€425,122 | +60.3% |
| Amounts payable within one year | 42/48 | €5,061 | €20,686 | +€15,625 | +309% |
| Trade debts | 44 | €1,019 | €16,644 | +€15,625 | +1,534% |
| Suppliers | 440/4 | €1,019 | €16,644 | +€15,625 | +1,534% |
| Taxes, remuneration and social security | 45 | €4,043 | €4,043 | = | 0.0% |
| Taxes | 450/3 | €4,043 | €4,043 | = | 0.0% |
| Other operating charges | 640/8 | €6,712 | €6,796 | +€85 | +1.3% |
| Non-recurring operating charges | 66A | - | €48,000 | +€48,000 | |
| Gross operating margin | 9900 | €113,318 | €110,187 | -€3,131 | -2.8% |
| Operating profit (loss) | 9901 | €106,606 | €55,391 | -€51,215 | -48.0% |
| Financial charges | 65/66B | €30,436 | €35,432 | +€4,996 | +16.4% |
| Recurring financial charges | 65 | €30,436 | €35,432 | +€4,996 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €76,170 | €19,959 | -€56,211 | -73.8% |
| Income taxes | 67/77 | €19,043 | €4,990 | -€14,053 | -73.8% |
| Profit (loss) for the period | 9904 | €57,128 | €14,969 | -€42,159 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,128 | €14,969 | -€42,159 | -73.8% |
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 5 November 2026 via checked.be.