ZANDSTORM: 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.
ZANDSTORM
Largest movements
- Receivables within one year +€20,210
up €20,210 (+105%), from €19,234 to €39,444
of which Trade receivables: +€20,039
- Cash +€15,061
up €15,061 (+65.6%), from €22,973 to €38,033
mainly Trade debts (+€16,110) and Net result for the year (+€11,020)
- Current investments +€12,073
up €12,073 (+12.3%), from €98,243 to €110,315
- Stocks and contracts -€10,764
down €10,764 (-9.8%), from €109,636 to €98,872
- Trade debts +€16,110
up €16,110 (+237%), from €6,802 to €22,911
- Reserves +€11,020
up €11,020 (+14.2%), from €77,681 to €88,701
of which Distributable reserves: +€11,020
- Tax, wage and social debts +€10,999
up €10,999 (+66.9%), from €16,453 to €27,453
of which Taxes: +€11,545
- Gross operating margin +€5,006
up €5,006 (+20.2%), from €24,836 to €29,841
- Taxes +€1,168
up €1,168 (+28.7%), from €4,069 to €5,237
- Financial charges -€455
down €455 (-20.9%), from €2,181 to €1,726
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 | €259,965 | €295,351 | +€35,386 | +13.6% |
| Fixed assets | 21/28 | €9,100 | €7,895 | -€1,205 | -13.2% |
| Tangible fixed assets | 22/27 | €9,075 | €7,870 | -€1,205 | -13.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,090 | €1,374 | +€284 | +26.0% |
| Furniture and vehicles | 24 | €917 | €688 | -€229 | -25.0% |
| Other tangible fixed assets | 26 | €7,068 | €5,808 | -€1,260 | -17.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €250,865 | €287,456 | +€36,591 | +14.6% |
| Stocks and contracts in progress | 3 | €109,636 | €98,872 | -€10,764 | -9.8% |
| Stocks | 30/36 | €109,636 | €98,872 | -€10,764 | -9.8% |
| Amounts receivable within one year | 40/41 | €19,234 | €39,444 | +€20,210 | +105% |
| Trade receivables | 40 | €19,234 | €39,273 | +€20,039 | +104% |
| Other amounts receivable | 41 | - | €171 | +€171 | |
| Current investments | 50/53 | €98,243 | €110,315 | +€12,073 | +12.3% |
| Cash at bank and in hand | 54/58 | €22,973 | €38,033 | +€15,061 | +65.6% |
| Deferred charges and accrued income | 490/1 | €780 | €791 | +€12 | +1.5% |
| Total equity and liabilities | 10/49 | €259,965 | €295,351 | +€35,386 | +13.6% |
| Equity | 10/15 | €214,824 | €225,844 | +€11,020 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,681 | €88,701 | +€11,020 | +14.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €77,681 | €88,701 | +€11,020 | +14.2% |
| Profit (loss) carried forward | 14 | €130,943 | €130,943 | = | 0.0% |
| Amounts payable | 17/49 | €45,142 | €69,507 | +€24,366 | +54.0% |
| Amounts payable within one year | 42/48 | €45,142 | €69,507 | +€24,366 | +54.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €6,802 | €22,911 | +€16,110 | +237% |
| Suppliers | 440/4 | €6,802 | €22,911 | +€16,110 | +237% |
| Taxes, remuneration and social security | 45 | €16,453 | €27,453 | +€10,999 | +66.9% |
| Taxes | 450/3 | €12,222 | €23,767 | +€11,545 | +94.5% |
| Remuneration and social security | 454/9 | €4,231 | €3,685 | -€546 | -12.9% |
| Other amounts payable | 47/48 | €21,887 | €19,143 | -€2,743 | -12.5% |
| Remuneration, social security and pensions | 62 | €9,733 | €9,896 | +€163 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,754 | €1,891 | +€136 | +7.8% |
| Other operating charges | 640/8 | €175 | €179 | +€3 | +2.0% |
| Gross operating margin | 9900 | €24,836 | €29,841 | +€5,006 | +20.2% |
| Operating profit (loss) | 9901 | €13,173 | €17,876 | +€4,703 | +35.7% |
| Financial income | 75/76B | €114 | €107 | -€6 | -5.5% |
| Recurring financial income | 75 | €114 | €107 | -€6 | -5.5% |
| Financial charges | 65/66B | €2,181 | €1,726 | -€455 | -20.9% |
| Recurring financial charges | 65 | €2,181 | €1,726 | -€455 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €11,105 | €16,257 | +€5,153 | +46.4% |
| Income taxes | 67/77 | €4,069 | €5,237 | +€1,168 | +28.7% |
| Profit (loss) for the period | 9904 | €7,036 | €11,020 | +€3,984 | +56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,036 | €11,020 | +€3,984 | +56.6% |
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 21 October 2026 via checked.be.