ZANNEKIN: what changed
Two fiscal 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.
ZANNEKIN
Largest movements
- Current investments -€67,000
no longer reported in 2025 (was €67,000)
- Tangible fixed assets -€13,920
down €13,920 (-8.9%), from €156,913 to €142,993
of which Furniture and vehicles: -€8,942
- Receivables after one year +€12,889
new in 2025: €12,889
- Deferred charges and accrued income -€12,036
down €12,036 (-85.2%), from €14,122 to €2,086
- Receivables within one year +€11,961
up €11,961 (+174.0%), from €6,875 to €18,836
of which Other amounts receivable: +€10,641
- Current portion of long-term debt -€15,066
down €15,066 (-59.5%), from €25,320 to €10,255
- Other debts -€10,872
down €10,872 (-99.3%), from €10,943 to €72
- Profit (loss) carried forward -€10,846
down €10,846 (-11.2%), from €96,836 to €85,991
- Debts after one year -€10,255
down €10,255 (-39.2%), from €26,179 to €15,925
- Staff costs +€40,937
up €40,937 (+42.2%), from €96,985 to €137,922
- Taxes -€9,626
down €9,626 (-98.8%), from €9,747 to €121
- Gross operating margin +€5,154
up €5,154 (+3.4%), from €153,536 to €158,691
- Financial charges -€1,627
down €1,627 (-42.9%), from €3,794 to €2,166
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.
Cash bridge derived
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 | €336,000 | €283,211 | -€52,789 | -15.7% |
| Fixed assets | 21/28 | €156,913 | €143,473 | -€13,440 | -8.6% |
| Tangible fixed assets | 22/27 | €156,913 | €142,993 | -€13,920 | -8.9% |
| Land and buildings | 22 | €86,567 | €82,312 | -€4,255 | -4.9% |
| Plant, machinery and equipment | 23 | €29,973 | €29,250 | -€723 | -2.4% |
| Furniture and vehicles | 24 | €40,373 | €31,431 | -€8,942 | -22.1% |
| Financial fixed assets | 28 | - | €480 | +€480 | |
| Current assets | 29/58 | €179,087 | €139,738 | -€39,349 | -22.0% |
| Amounts receivable after more than one year | 29 | - | €12,889 | +€12,889 | |
| Trade receivables | 290 | - | €12,889 | +€12,889 | |
| Stocks and contracts in progress | 3 | €11,593 | €15,336 | +€3,743 | +32.3% |
| Stocks | 30/36 | €11,593 | €15,336 | +€3,743 | +32.3% |
| Amounts receivable within one year | 40/41 | €6,875 | €18,836 | +€11,961 | +174.0% |
| Trade receivables | 40 | - | €1,320 | +€1,320 | |
| Other amounts receivable | 41 | €6,875 | €17,516 | +€10,641 | +154.8% |
| Current investments | 50/53 | €67,000 | - | -€67,000 | |
| Cash at bank and in hand | 54/58 | €79,496 | €90,590 | +€11,094 | +14.0% |
| Deferred charges and accrued income | 490/1 | €14,122 | €2,086 | -€12,036 | -85.2% |
| Total equity and liabilities | 10/49 | €336,000 | €283,211 | -€52,789 | -15.7% |
| Equity | 10/15 | €228,288 | €217,442 | -€10,846 | -4.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €112,859 | €112,859 | = | 0.0% |
| Distributable reserves | 133 | €112,859 | €112,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,836 | €85,991 | -€10,846 | -11.2% |
| Amounts payable | 17/49 | €107,712 | €65,769 | -€41,943 | -38.9% |
| Amounts payable after more than one year | 17 | €26,179 | €15,925 | -€10,255 | -39.2% |
| Financial debts | 170/4 | €26,179 | €15,925 | -€10,255 | -39.2% |
| Amounts payable within one year | 42/48 | €81,533 | €49,334 | -€32,199 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €25,320 | €10,255 | -€15,066 | -59.5% |
| Trade debts | 44 | €15,032 | €11,729 | -€3,303 | -22.0% |
| Suppliers | 440/4 | €15,032 | €11,729 | -€3,303 | -22.0% |
| Taxes, remuneration and social security | 45 | €30,237 | €27,278 | -€2,959 | -9.8% |
| Taxes | 450/3 | €12,227 | €5,936 | -€6,291 | -51.5% |
| Remuneration and social security | 454/9 | €18,010 | €21,343 | +€3,333 | +18.5% |
| Other amounts payable | 47/48 | €10,943 | €72 | -€10,872 | -99.3% |
| Accrued charges and deferred income | 492/3 | - | €511 | +€511 | |
| Non-recurring operating income | 76A | €2,715 | - | -€2,715 | |
| Remuneration, social security and pensions | 62 | €96,985 | €137,922 | +€40,937 | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,097 | €22,265 | +€1,167 | +5.5% |
| Other operating charges | 640/8 | €2,909 | €2,634 | -€275 | -9.4% |
| Non-recurring operating charges | 66A | - | €6,709 | +€6,709 | |
| Gross operating margin | 9900 | €153,536 | €158,691 | +€5,154 | +3.4% |
| Operating profit (loss) | 9901 | €32,545 | -€10,839 | -€43,384 | |
| Financial income | 75/76B | €1,035 | €2,280 | +€1,245 | +120.3% |
| Recurring financial income | 75 | €1,035 | €2,280 | +€1,245 | +120.3% |
| Financial charges | 65/66B | €3,794 | €2,166 | -€1,627 | -42.9% |
| Recurring financial charges | 65 | €3,794 | €2,166 | -€1,627 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €29,786 | -€10,725 | -€40,512 | |
| Income taxes | 67/77 | €9,747 | €121 | -€9,626 | -98.8% |
| Profit (loss) for the period | 9904 | €20,039 | -€10,846 | -€30,885 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,039 | -€10,846 | -€30,885 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.