ZD Advocaat: 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.
ZD Advocaat
Largest movements
- Receivables after one year -€64,422
no longer reported in 2025 (was €64,422)
- Tangible fixed assets -€1,599
down €1,599 (-17.5%), from €9,156 to €7,557
of which Furniture and vehicles: -€852
- Receivables within one year +€1,271
up €1,271 (+21.6%), from €5,879 to €7,150
- Cash -€1,263
down €1,263 (-9.6%), from €13,121 to €11,858
mainly Contributions, distributions and other (-€105,845) and Receivables within one year (-€1,271)
- Reserves -€84,079
down €84,079 (-97.4%), from €86,304 to €2,224
- Other debts +€14,595
new in 2025: €14,595
- Tax, wage and social debts +€2,170
up €2,170 (+107%), from €2,026 to €4,197
of which Taxes: +€2,931
- Trade debts +€1,127
up €1,127 (+79.2%), from €1,423 to €2,550
- Financial income -€1,864
down €1,864 (-98.7%), from €1,888 to €24
- Gross operating margin +€1,270
up €1,270 (+4.1%), from €31,057 to €32,327
- Taxes -€717
down €717 (-9.2%), from €7,810 to €7,093
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 | €92,753 | €26,566 | -€66,187 | -71.4% |
| Fixed assets | 21/28 | €9,156 | €7,557 | -€1,599 | -17.5% |
| Tangible fixed assets | 22/27 | €9,156 | €7,557 | -€1,599 | -17.5% |
| Furniture and vehicles | 24 | €2,374 | €1,522 | -€852 | -35.9% |
| Other tangible fixed assets | 26 | €6,783 | €6,036 | -€747 | -11.0% |
| Current assets | 29/58 | €83,597 | €19,008 | -€64,589 | -77.3% |
| Amounts receivable after more than one year | 29 | €64,422 | - | -€64,422 | |
| Other amounts receivable | 291 | €64,422 | - | -€64,422 | |
| Amounts receivable within one year | 40/41 | €5,879 | €7,150 | +€1,271 | +21.6% |
| Other amounts receivable | 41 | €5,879 | €7,150 | +€1,271 | +21.6% |
| Cash at bank and in hand | 54/58 | €13,121 | €11,858 | -€1,263 | -9.6% |
| Deferred charges and accrued income | 490/1 | €175 | - | -€175 | |
| Total equity and liabilities | 10/49 | €92,753 | €26,566 | -€66,187 | -71.4% |
| Equity | 10/15 | €89,304 | €5,224 | -€84,079 | -94.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €86,304 | €2,224 | -€84,079 | -97.4% |
| Distributable reserves | 133 | €86,304 | €2,224 | -€84,079 | -97.4% |
| Amounts payable | 17/49 | €3,450 | €21,342 | +€17,892 | +519% |
| Amounts payable within one year | 42/48 | €3,450 | €21,342 | +€17,892 | +519% |
| Trade debts | 44 | €1,423 | €2,550 | +€1,127 | +79.2% |
| Suppliers | 440/4 | €1,423 | €2,550 | +€1,127 | +79.2% |
| Taxes, remuneration and social security | 45 | €2,026 | €4,197 | +€2,170 | +107% |
| Taxes | 450/3 | - | €2,931 | +€2,931 | |
| Remuneration and social security | 454/9 | €2,026 | €1,265 | -€761 | -37.6% |
| Other amounts payable | 47/48 | - | €14,595 | +€14,595 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,636 | €1,599 | -€37 | -2.3% |
| Other operating charges | 640/8 | €1,274 | €1,209 | -€65 | -5.1% |
| Gross operating margin | 9900 | €31,057 | €32,327 | +€1,270 | +4.1% |
| Operating profit (loss) | 9901 | €28,147 | €29,520 | +€1,372 | +4.9% |
| Financial income | 75/76B | €1,888 | €24 | -€1,864 | -98.7% |
| Recurring financial income | 75 | €1,888 | €24 | -€1,864 | -98.7% |
| Financial charges | 65/66B | €709 | €685 | -€24 | -3.3% |
| Recurring financial charges | 65 | €709 | €685 | -€24 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €29,326 | €28,859 | -€468 | -1.6% |
| Income taxes | 67/77 | €7,810 | €7,093 | -€717 | -9.2% |
| Profit (loss) for the period | 9904 | €21,516 | €21,766 | +€249 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,516 | €21,766 | +€249 | +1.2% |
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 25 October 2026 via checked.be.