ZEEPARKEN: 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.
ZEEPARKEN
Largest movements
- Stocks and contracts +€5.6m
up €5.6m (+121%), from €4.6m to €10.3m
- Current investments -€1.5m
down €1.5m (-100%), from €1.5m to €0
- Receivables within one year -€1.2m
down €1.2m (-72.4%), from €1.7m to €472,816
of which Trade receivables: -€920,000
- Debts after one year +€7.4m
new in 2025: €7.4m
of which Financial debts: +€4.8m
- Advances received -€4.7m
down €4.7m (-100%), from €4.7m to €0
- Accrued charges and deferred income +€109,387
up €109,387 (+2,453%), from €4,459 to €113,846
- Gross operating margin +€716,034
up €716,034 (+2,924%), from €24,489 to €740,523
- Other operating charges +€454,832
up €454,832 (+12,736%), from €3,571 to €458,403
- Financial charges +€211,100
up €211,100 (+13,243%), from €1,594 to €212,694
- Financial income -€70,179
down €70,179 (-91.1%), from €77,032 to €6,853
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 | €7,932,148 | €10,764,130 | +€2.8m | +35.7% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €7,932,148 | €10,764,130 | +€2.8m | +35.7% |
| Stocks and contracts in progress | 3 | €4,646,441 | €10,259,625 | +€5.6m | +121% |
| Stocks | 30/36 | €4,646,441 | €10,259,625 | +€5.6m | +121% |
| Amounts receivable within one year | 40/41 | €1,715,666 | €472,816 | -€1.2m | -72.4% |
| Trade receivables | 40 | €920,000 | €0 | -€920,000 | -100% |
| Other amounts receivable | 41 | €795,666 | €472,816 | -€322,850 | -40.6% |
| Current investments | 50/53 | €1,525,000 | €0 | -€1.5m | -100% |
| Cash at bank and in hand | 54/58 | €42,973 | €28,459 | -€14,514 | -33.8% |
| Deferred charges and accrued income | 490/1 | €2,068 | €3,230 | +€1,162 | +56.2% |
| Total equity and liabilities | 10/49 | €7,932,148 | €10,764,130 | +€2.8m | +35.7% |
| Equity | 10/15 | €3,193,096 | €3,250,184 | +€57,088 | +1.8% |
| Contributions | 10/11 | €995,000 | €995,000 | = | 0.0% |
| Capital | 10 | €995,000 | €995,000 | = | 0.0% |
| Issued capital | 100 | €995,000 | €995,000 | = | 0.0% |
| Reserves | 13 | €2,198,096 | €2,255,184 | +€57,088 | +2.6% |
| Non-distributable reserves | 130/1 | €99,500 | €99,500 | = | 0.0% |
| Legal reserve | 130 | €99,500 | €99,500 | = | 0.0% |
| Distributable reserves | 133 | €2,098,596 | €2,155,684 | +€57,088 | +2.7% |
| Amounts payable | 17/49 | €4,739,052 | €7,513,946 | +€2.8m | +58.6% |
| Amounts payable after more than one year | 17 | - | €7,400,000 | +€7.4m | |
| Financial debts | 170/4 | - | €4,800,000 | +€4.8m | |
| Other amounts payable | 178/9 | - | €2,600,000 | +€2.6m | |
| Amounts payable within one year | 42/48 | €4,734,592 | €100 | -€4.7m | -100.0% |
| Trade debts | 44 | €1,811 | €100 | -€1,711 | -94.5% |
| Suppliers | 440/4 | €1,811 | €100 | -€1,711 | -94.5% |
| Advances received on contracts in progress | 46 | €4,730,311 | €0 | -€4.7m | -100% |
| Taxes, remuneration and social security | 45 | €2,470 | €0 | -€2,470 | -100% |
| Taxes | 450/3 | €2,470 | €0 | -€2,470 | -100% |
| Accrued charges and deferred income | 492/3 | €4,459 | €113,846 | +€109,387 | +2,453% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,316 | €0 | +€1,316 | |
| Other operating charges | 640/8 | €3,571 | €458,403 | +€454,832 | +12,736% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €24,489 | €740,523 | +€716,034 | +2,924% |
| Operating profit (loss) | 9901 | €22,233 | €282,120 | +€259,887 | +1,169% |
| Financial income | 75/76B | €77,032 | €6,853 | -€70,179 | -91.1% |
| Recurring financial income | 75 | €77,032 | €6,853 | -€70,179 | -91.1% |
| Financial charges | 65/66B | €1,594 | €212,694 | +€211,100 | +13,243% |
| Recurring financial charges | 65 | €1,594 | €212,694 | +€211,100 | +13,243% |
| Profit (loss) for the period before taxes | 9903 | €97,672 | €76,280 | -€21,392 | -21.9% |
| Income taxes | 67/77 | €24,619 | €19,192 | -€5,427 | -22.0% |
| Profit (loss) for the period | 9904 | €73,053 | €57,088 | -€15,965 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,053 | €57,088 | -€15,965 | -21.9% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.