ZANDPOLDER: 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.
What changed
ZANDPOLDER
NACE 55.300, Accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€191,339
2024 · €57,059+€134,280
Equity
€968,382
2024 · €935,283+€33,099
Cash
€9,639
2024 · €9,292+€347
Balance sheet total
€1.4m
2024 · €1.2m+€205,831
Largest movements
Assets
- Receivables within one year +€294,149
up €294,149 (+580%), from €50,730 to €344,880
of which Trade receivables: +€282,611
- Tangible fixed assets -€91,510
down €91,510 (-8.0%), from €1.1m to €1.1m
of which Land and buildings: -€132,626
Equity and liabilities
- Other debts +€144,855
up €144,855 (+78.3%), from €185,101 to €329,956
- Reserves +€33,288
up €33,288 (+5.2%), from €635,283 to €668,571
of which Tax-exempt reserves: +€132,539
- Provisions +€33,135
new in 2025: €33,135
Income statement
- Gross operating margin +€175,860
up €175,860 (+71.7%), from €245,235 to €421,095
- Depreciation +€19,226
up €19,226 (+69.9%), from €27,508 to €46,734
- Financial charges +€8,919
up €8,919 (+81.7%), from €10,917 to €19,835
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.
Result 2024
€57,059
Gross operating margin
+€175,860
Staff costs
+€108
Depreciation
-€19,226
Other operating charges
-€4,036
Other operating items
+€22,284
Financial income
+€155
Financial charges
-€8,919
Taxes
+€1,188
Deferred taxes and other
-€33,135
Result 2025
€191,339
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€115,374
Investment
+€46,127
Financing
-€161,154
Cash 2024
€9,292
From operations (derived)
+€115,374
Net result for the year
+€191,339
Depreciation
+€46,734
Receivables within one year
-€294,149
Deferred charges and accrued income
-€4,195
Provisions
+€33,135
Trade debts
+€966
Tax, wage and social debts
-€6,935
Other debts
+€144,855
Accrued charges and deferred income
+€3,625
Investment (derived)
+€46,127
Investment in fixed assets (net)
+€44,776
Current investments
+€1,351
Financing
-€161,154
Debts after one year
-€11,190
Current portion of long-term debt
+€8,277
Contributions, distributions and other
-€158,241
Cash 2025
€9,639
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,221,766 | €1,427,597 | +€205,831 | +16.8% |
| Fixed assets | 21/28 | €1,147,602 | €1,056,092 | -€91,510 | -8.0% |
| Tangible fixed assets | 22/27 | €1,147,602 | €1,056,092 | -€91,510 | -8.0% |
| Land and buildings | 22 | €1,065,298 | €932,671 | -€132,626 | -12.4% |
| Plant, machinery and equipment | 23 | €10,993 | €20,469 | +€9,476 | +86.2% |
| Furniture and vehicles | 24 | €71,311 | €76,579 | +€5,267 | +7.4% |
| Other tangible fixed assets | 26 | - | €26,373 | +€26,373 | |
| Current assets | 29/58 | €74,164 | €371,505 | +€297,341 | +401% |
| Amounts receivable within one year | 40/41 | €50,730 | €344,880 | +€294,149 | +580% |
| Trade receivables | 40 | €42,311 | €324,923 | +€282,611 | +668% |
| Other amounts receivable | 41 | €8,419 | €19,957 | +€11,538 | +137% |
| Current investments | 50/53 | €1,351 | €0 | -€1,351 | -100% |
| Cash at bank and in hand | 54/58 | €9,292 | €9,639 | +€347 | +3.7% |
| Deferred charges and accrued income | 490/1 | €12,791 | €16,987 | +€4,195 | +32.8% |
| Total equity and liabilities | 10/49 | €1,221,766 | €1,427,597 | +€205,831 | +16.8% |
| Equity | 10/15 | €935,283 | €968,382 | +€33,099 | +3.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €635,283 | €668,571 | +€33,288 | +5.2% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,851 | €136,390 | +€132,539 | +3,442% |
| Distributable reserves | 133 | €601,432 | €502,181 | -€99,251 | -16.5% |
| Profit (loss) carried forward | 14 | - | -€189 | -€189 | |
| Provisions and deferred taxes | 16 | - | €33,135 | +€33,135 | |
| Deferred taxes | 168 | - | €33,135 | +€33,135 | |
| Amounts payable | 17/49 | €286,483 | €426,080 | +€139,598 | +48.7% |
| Amounts payable after more than one year | 17 | €32,957 | €21,767 | -€11,190 | -34.0% |
| Financial debts | 170/4 | €32,957 | €21,767 | -€11,190 | -34.0% |
| Amounts payable within one year | 42/48 | €253,525 | €400,688 | +€147,163 | +58.0% |
| Current portion of amounts payable after more than one year | 42 | €40,354 | €48,631 | +€8,277 | +20.5% |
| Trade debts | 44 | €2,646 | €3,612 | +€966 | +36.5% |
| Suppliers | 440/4 | €2,646 | €3,612 | +€966 | +36.5% |
| Taxes, remuneration and social security | 45 | €25,424 | €18,489 | -€6,935 | -27.3% |
| Taxes | 450/3 | €25,424 | €18,489 | -€6,935 | -27.3% |
| Other amounts payable | 47/48 | €185,101 | €329,956 | +€144,855 | +78.3% |
| Accrued charges and deferred income | 492/3 | - | €3,625 | +€3,625 | |
| Non-recurring operating income | 76A | €0 | €167,844 | +€167,844 | |
| Remuneration, social security and pensions | 62 | €501 | €393 | -€108 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,508 | €46,734 | +€19,226 | +69.9% |
| Other operating charges | 640/8 | €103,213 | €107,248 | +€4,036 | +3.9% |
| Non-recurring operating charges | 66A | €22,284 | €0 | -€22,284 | -100% |
| Gross operating margin | 9900 | €245,235 | €421,095 | +€175,860 | +71.7% |
| Operating profit (loss) | 9901 | €91,729 | €266,720 | +€174,991 | +191% |
| Financial income | 75/76B | €611 | €766 | +€155 | +25.3% |
| Recurring financial income | 75 | €611 | €766 | +€155 | +25.3% |
| Financial charges | 65/66B | €10,917 | €19,835 | +€8,919 | +81.7% |
| Recurring financial charges | 65 | €10,917 | €19,835 | +€8,919 | +81.7% |
| Profit (loss) for the period before taxes | 9903 | €81,424 | €247,651 | +€166,227 | +204% |
| Transfer from deferred taxes | 780 | - | €434 | +€434 | |
| Transfer to deferred taxes | 680 | - | €33,569 | +€33,569 | |
| Income taxes | 67/77 | €24,365 | €23,177 | -€1,188 | -4.9% |
| Profit (loss) for the period | 9904 | €57,059 | €191,339 | +€134,280 | +235% |
| Transfer from tax-exempt reserves | 789 | - | €1,736 | +€1,736 | |
| Transfer to tax-exempt reserves | 689 | - | €134,275 | +€134,275 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,059 | €58,800 | +€1,740 | +3.1% |
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 23 October 2026 via checked.be.