ZEE & POLDER: what changed
What changed
ZEE & POLDER
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€70,317
2024 · €92,418-€22,101
Equity
€977,517
2024 · €907,200+€70,317
Cash
€8,587
2024 · €24,460-€15,873
Balance sheet total
€1.1m
2024 · €1.9m-€832,413
Largest movements
Assets
- Stocks and contracts -€557,908
down €557,908 (-45.1%), from €1.2m to €678,021
- Receivables within one year -€258,687
down €258,687 (-39.4%), from €657,174 to €398,487
of which Trade receivables: -€137,129
Equity and liabilities
- Trade debts -€844,588
down €844,588 (-88.5%), from €954,870 to €110,282
- Reserves +€70,317
up €70,317 (+17.5%), from €402,200 to €472,517
of which Distributable reserves: +€70,317
- Tax, wage and social debts -€57,807
down €57,807 (-99.8%), from €57,944 to €138
Income statement
- Purchases and services -€1.8m
down €1.8m (-56.6%), from €3.3m to €1.4m
- Turnover -€1.3m
down €1.3m (-38.2%), from €3.3m to €2.1m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€92,418
Gross operating margin
-€32,349
Other operating charges
+€1,286
Financial income
-€13,076
Financial charges
+€12,534
Taxes
+€9,505
Result 2025
€70,317
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€15,873
Investment
€0
Financing
€0
Cash 2024
€24,460
From operations (derived)
-€15,873
Net result for the year
+€70,317
Stocks and contracts
+€557,908
Receivables within one year
+€258,687
Smaller working-capital items
-€391
Trade debts
-€844,588
Tax, wage and social debts
-€57,807
Cash 2025
€8,587
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,920,349 | €1,087,937 | -€832,413 | -43.3% |
| Fixed assets | 21/28 | €2,479 | €2,479 | = | 0.0% |
| Financial fixed assets | 28 | €2,479 | €2,479 | = | 0.0% |
| Current assets | 29/58 | €1,917,870 | €1,085,458 | -€832,413 | -43.4% |
| Stocks and contracts in progress | 3 | €1,235,929 | €678,021 | -€557,908 | -45.1% |
| Stocks | 30/36 | €1,235,929 | €678,021 | -€557,908 | -45.1% |
| Amounts receivable within one year | 40/41 | €657,174 | €398,487 | -€258,687 | -39.4% |
| Trade receivables | 40 | €207,174 | €70,045 | -€137,129 | -66.2% |
| Other amounts receivable | 41 | €450,000 | €328,442 | -€121,558 | -27.0% |
| Cash at bank and in hand | 54/58 | €24,460 | €8,587 | -€15,873 | -64.9% |
| Deferred charges and accrued income | 490/1 | €307 | €363 | +€56 | +18.2% |
| Total equity and liabilities | 10/49 | €1,920,349 | €1,087,937 | -€832,413 | -43.3% |
| Equity | 10/15 | €907,200 | €977,517 | +€70,317 | +7.8% |
| Contributions | 10/11 | €505,000 | €505,000 | = | 0.0% |
| Reserves | 13 | €402,200 | €472,517 | +€70,317 | +17.5% |
| Non-distributable reserves | 130/1 | €50,500 | €50,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,500 | €50,500 | = | 0.0% |
| Distributable reserves | 133 | €351,700 | €422,017 | +€70,317 | +20.0% |
| Amounts payable | 17/49 | €1,013,150 | €110,420 | -€902,730 | -89.1% |
| Amounts payable within one year | 42/48 | €1,012,814 | €110,420 | -€902,395 | -89.1% |
| Trade debts | 44 | €954,870 | €110,282 | -€844,588 | -88.5% |
| Suppliers | 440/4 | €954,870 | €110,282 | -€844,588 | -88.5% |
| Taxes, remuneration and social security | 45 | €57,944 | €138 | -€57,807 | -99.8% |
| Taxes | 450/3 | €57,944 | €138 | -€57,807 | -99.8% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €336 | €0 | -€336 | -100% |
| Turnover | 70 | €3,329,750 | €2,059,364 | -€1.3m | -38.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,261,809 | €1,416,638 | -€1.8m | -56.6% |
| Other operating charges | 640/8 | €2,618 | €1,333 | -€1,286 | -49.1% |
| Gross operating margin | 9900 | €122,911 | €90,562 | -€32,349 | -26.3% |
| Operating profit (loss) | 9901 | €120,293 | €89,229 | -€31,064 | -25.8% |
| Financial income | 75/76B | €28,342 | €15,266 | -€13,076 | -46.1% |
| Recurring financial income | 75 | €28,342 | €15,266 | -€13,076 | -46.1% |
| Financial charges | 65/66B | €22,575 | €10,041 | -€12,534 | -55.5% |
| Recurring financial charges | 65 | €22,575 | €10,041 | -€12,534 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €126,060 | €94,455 | -€31,605 | -25.1% |
| Income taxes | 67/77 | €33,642 | €24,138 | -€9,505 | -28.3% |
| Profit (loss) for the period | 9904 | €92,418 | €70,317 | -€22,101 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €92,418 | €70,317 | -€22,101 | -23.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.