ZEEMST: 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.
ZEEMST
Largest movements
- Current investments +€191,843
up €191,843 (+1.1%), from €17.5m to €17.7m
- Profit (loss) carried forward +€278,193
up €278,193 (+12.8%), from €2.2m to €2.4m
- Financial income -€95,757
down €95,757 (-23.6%), from €404,939 to €309,182
- Taxes -€30,069
down €30,069 (-29.1%), from €103,307 to €73,238
- Financial charges -€9,831
down €9,831 (-17.9%), from -€54,861 to -€64,691
- Gross operating margin -€465
down €465 (-7.3%), from -€6,369 to -€6,834
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,555,152 | €17,850,480 | +€295,328 | +1.7% |
| Current assets | 29/58 | €17,555,152 | €17,850,480 | +€295,328 | +1.7% |
| Amounts receivable within one year | 40/41 | - | €26,762 | +€26,762 | |
| Other amounts receivable | 41 | - | €26,762 | +€26,762 | |
| Current investments | 50/53 | €17,537,019 | €17,728,862 | +€191,843 | +1.1% |
| Cash at bank and in hand | 54/58 | €18,133 | €94,856 | +€76,723 | +423.1% |
| Total equity and liabilities | 10/49 | €17,555,152 | €17,850,480 | +€295,328 | +1.7% |
| Equity | 10/15 | €17,529,760 | €17,822,594 | +€292,834 | +1.7% |
| Contributions | 10/11 | €15,065,000 | €15,065,000 | = | 0.0% |
| Capital | 10 | €9,563,992 | €9,563,992 | = | 0.0% |
| Issued capital | 100 | €9,563,992 | €9,563,992 | = | 0.0% |
| Outside capital | 11 | €5,501,008 | €5,501,008 | = | 0.0% |
| Share premium | 1100/10 | €5,501,008 | €5,501,008 | = | 0.0% |
| Reserves | 13 | €298,907 | €313,548 | +€14,642 | +4.9% |
| Non-distributable reserves | 130/1 | €298,907 | €313,548 | +€14,642 | +4.9% |
| Legal reserve | 130 | €298,907 | €313,548 | +€14,642 | +4.9% |
| Profit (loss) carried forward | 14 | €2,165,853 | €2,444,046 | +€278,193 | +12.8% |
| Amounts payable | 17/49 | €25,392 | €27,886 | +€2,494 | +9.8% |
| Amounts payable within one year | 42/48 | €25,392 | €27,886 | +€2,494 | +9.8% |
| Trade debts | 44 | €85 | €2,579 | +€2,494 | +2930.7% |
| Suppliers | 440/4 | €85 | €2,579 | +€2,494 | +2930.7% |
| Taxes, remuneration and social security | 45 | €25,307 | €25,307 | = | 0.0% |
| Taxes | 450/3 | €25,307 | €25,307 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | -€6,369 | -€6,834 | -€465 | -7.3% |
| Operating profit (loss) | 9901 | -€7,330 | -€7,802 | -€472 | -6.4% |
| Financial income | 75/76B | €404,939 | €309,182 | -€95,757 | -23.6% |
| Recurring financial income | 75 | €404,939 | €309,182 | -€95,757 | -23.6% |
| Financial charges | 65/66B | -€54,861 | -€64,691 | -€9,831 | -17.9% |
| Recurring financial charges | 65 | -€54,861 | -€64,691 | -€9,831 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €452,470 | €366,072 | -€86,398 | -19.1% |
| Income taxes | 67/77 | €103,307 | €73,238 | -€30,069 | -29.1% |
| Profit (loss) for the period | 9904 | €349,163 | €292,834 | -€56,329 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €349,163 | €292,834 | -€56,329 | -16.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.