Zeepbaron: 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.
Zeepbaron
Largest movements
- Receivables within one year +€46,113
up €46,113 (+52.1%), from €88,533 to €134,646
of which Other amounts receivable: +€44,378
- Tangible fixed assets -€6,820
down €6,820 (-59.2%), from €11,514 to €4,694
of which Land and buildings: -€5,825
- Cash +€3,292
up €3,292 (+5.3%), from €61,840 to €65,132
mainly Other debts (+€85,000) and Net result for the year (+€51,080)
- Other debts +€85,000
new in 2025: €85,000
- Reserves -€33,957
down €33,957 (-16.9%), from €200,391 to €166,434
- Tax, wage and social debts -€9,994
down €9,994 (-33.1%), from €30,188 to €20,194
of which Taxes: -€11,355
- Trade debts +€4,408
up €4,408 (+46.6%), from €9,455 to €13,862
- Gross operating margin +€14,451
up €14,451 (+22.4%), from €64,584 to €79,034
- Taxes +€6,912
up €6,912 (+60.1%), from €11,501 to €18,414
- Staff costs -€1,262
down €1,262 (-100%), from €1,262 to €0
- Financial charges +€1,111
up €1,111 (+112%), from €995 to €2,106
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 | €252,034 | €297,491 | +€45,457 | +18.0% |
| Fixed assets | 21/28 | €16,314 | €9,494 | -€6,820 | -41.8% |
| Tangible fixed assets | 22/27 | €11,514 | €4,694 | -€6,820 | -59.2% |
| Land and buildings | 22 | €7,363 | €1,538 | -€5,825 | -79.1% |
| Plant, machinery and equipment | 23 | €4,150 | €3,156 | -€994 | -24.0% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €235,720 | €287,997 | +€52,276 | +22.2% |
| Stocks and contracts in progress | 3 | €85,347 | €88,218 | +€2,871 | +3.4% |
| Stocks | 30/36 | €85,347 | €88,218 | +€2,871 | +3.4% |
| Amounts receivable within one year | 40/41 | €88,533 | €134,646 | +€46,113 | +52.1% |
| Trade receivables | 40 | €37,238 | €38,974 | +€1,736 | +4.7% |
| Other amounts receivable | 41 | €51,295 | €95,673 | +€44,378 | +86.5% |
| Cash at bank and in hand | 54/58 | €61,840 | €65,132 | +€3,292 | +5.3% |
| Total equity and liabilities | 10/49 | €252,034 | €297,491 | +€45,457 | +18.0% |
| Equity | 10/15 | €212,391 | €178,434 | -€33,957 | -16.0% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €200,391 | €166,434 | -€33,957 | -16.9% |
| Distributable reserves | 133 | €200,391 | €166,434 | -€33,957 | -16.9% |
| Amounts payable | 17/49 | €39,643 | €119,056 | +€79,414 | +200% |
| Amounts payable within one year | 42/48 | €39,643 | €119,056 | +€79,414 | +200% |
| Trade debts | 44 | €9,455 | €13,862 | +€4,408 | +46.6% |
| Suppliers | 440/4 | €9,455 | €13,862 | +€4,408 | +46.6% |
| Taxes, remuneration and social security | 45 | €30,188 | €20,194 | -€9,994 | -33.1% |
| Taxes | 450/3 | €30,188 | €18,833 | -€11,355 | -37.6% |
| Remuneration and social security | 454/9 | - | €1,361 | +€1,361 | |
| Other amounts payable | 47/48 | - | €85,000 | +€85,000 | |
| Remuneration, social security and pensions | 62 | €1,262 | €0 | -€1,262 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,711 | €6,819 | +€108 | +1.6% |
| Other operating charges | 640/8 | €922 | €670 | -€252 | -27.3% |
| Non-recurring operating charges | 66A | €636 | €688 | +€52 | +8.2% |
| Gross operating margin | 9900 | €64,584 | €79,034 | +€14,451 | +22.4% |
| Operating profit (loss) | 9901 | €55,053 | €70,858 | +€15,805 | +28.7% |
| Financial income | 75/76B | €1,400 | €742 | -€658 | -47.0% |
| Recurring financial income | 75 | €1,348 | €517 | -€830 | -61.6% |
| Non-recurring financial income | 76B | €53 | €225 | +€172 | +326% |
| Financial charges | 65/66B | €995 | €2,106 | +€1,111 | +112% |
| Recurring financial charges | 65 | €995 | €2,106 | +€1,111 | +112% |
| Profit (loss) for the period before taxes | 9903 | €55,458 | €69,493 | +€14,035 | +25.3% |
| Income taxes | 67/77 | €11,501 | €18,414 | +€6,912 | +60.1% |
| Profit (loss) for the period | 9904 | €43,957 | €51,080 | +€7,123 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,957 | €51,080 | +€7,123 | +16.2% |
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 14 October 2026 via checked.be.