ZANDVLUGHE: 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.
ZANDVLUGHE
Largest movements
- Tangible fixed assets -€1,378
down €1,378 (-27.5%), from €5,014 to €3,636
of which Plant, machinery and equipment: -€944
- Cash -€532
down €532 (-24.2%), from €2,203 to €1,671
mainly Net result for the year (-€1,774) and Tax, wage and social debts (-€189)
- Profit (loss) carried forward -€1,774
down €1,774 (-25.5%), from -€6,951 to -€8,726
- Tax, wage and social debts -€189
no longer reported in 2025 (was €189)
- Gross operating margin +€6,490
up €6,490, from -€6,338 to €152
- Financial income -€1,434
no longer reported in 2025 (was €1,434)
- Other operating charges -€97
down €97 (-16.2%), from €599 to €502
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 | €9,215 | €7,265 | -€1,950 | -21.2% |
| Fixed assets | 21/28 | €5,014 | €3,636 | -€1,378 | -27.5% |
| Tangible fixed assets | 22/27 | €5,014 | €3,636 | -€1,378 | -27.5% |
| Plant, machinery and equipment | 23 | €3,336 | €2,392 | -€944 | -28.3% |
| Furniture and vehicles | 24 | €1,678 | €1,245 | -€434 | -25.8% |
| Current assets | 29/58 | €4,201 | €3,628 | -€573 | -13.6% |
| Amounts receivable within one year | 40/41 | €1,997 | €1,957 | -€40 | -2.0% |
| Trade receivables | 40 | €173 | €303 | +€130 | +75.4% |
| Other amounts receivable | 41 | €1,825 | €1,655 | -€170 | -9.3% |
| Cash at bank and in hand | 54/58 | €2,203 | €1,671 | -€532 | -24.2% |
| Total equity and liabilities | 10/49 | €9,215 | €7,265 | -€1,950 | -21.2% |
| Equity | 10/15 | €5,131 | €3,357 | -€1,774 | -34.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €6,082 | €6,082 | = | 0.0% |
| Distributable reserves | 133 | €6,082 | €6,082 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,951 | -€8,726 | -€1,774 | -25.5% |
| Amounts payable | 17/49 | €4,084 | €3,908 | -€176 | -4.3% |
| Amounts payable within one year | 42/48 | €4,084 | €3,908 | -€176 | -4.3% |
| Trade debts | 44 | €3,464 | €3,477 | +€14 | +0.4% |
| Suppliers | 440/4 | €3,464 | €3,477 | +€14 | +0.4% |
| Taxes, remuneration and social security | 45 | €189 | - | -€189 | |
| Taxes | 450/3 | €189 | - | -€189 | |
| Other amounts payable | 47/48 | €431 | €431 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,401 | €1,378 | -€24 | -1.7% |
| Other operating charges | 640/8 | €599 | €502 | -€97 | -16.2% |
| Gross operating margin | 9900 | -€6,338 | €152 | +€6,490 | |
| Operating profit (loss) | 9901 | -€8,339 | -€1,728 | +€6,611 | +79.3% |
| Financial income | 75/76B | €1,434 | - | -€1,434 | |
| Recurring financial income | 75 | €1,434 | - | -€1,434 | |
| Financial charges | 65/66B | €46 | €46 | = | 0.0% |
| Recurring financial charges | 65 | €46 | €46 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,951 | -€1,774 | +€5,177 | +74.5% |
| Profit (loss) for the period | 9904 | -€6,951 | -€1,774 | +€5,177 | +74.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,951 | -€1,774 | +€5,177 | +74.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.