ZEEVONK: 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.
ZEEVONK
Largest movements
- Tangible fixed assets -€39,319
down €39,319 (-2.3%), from €1.7m to €1.7m
of which Plant, machinery and equipment: -€59,069
- Cash +€18,054
up €18,054 (+553%), from €3,266 to €21,320
mainly Depreciation (+€96,779) and Net result for the year (+€90,394)
- Profit (loss) carried forward +€92,506
up €92,506, from -€92,506 to €0
- Debts after one year -€69,162
down €69,162 (-7.2%), from €957,963 to €888,801
- Trade debts -€32,576
down €32,576 (-44.6%), from €73,089 to €40,513
- Investment grants -€24,697
down €24,697 (-4.8%), from €518,642 to €493,945
- Other operating charges -€18,238
down €18,238 (-71.5%), from €25,499 to €7,261
- Gross operating margin -€9,717
down €9,717 (-2.6%), from €367,268 to €357,551
- Staff costs +€6,118
up €6,118 (+3.8%), from €159,500 to €165,618
- Financial charges -€5,352
down €5,352 (-19.3%), from €27,690 to €22,338
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 | €1,734,312 | €1,699,007 | -€35,305 | -2.0% |
| Fixed assets | 21/28 | €1,693,000 | €1,653,681 | -€39,319 | -2.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,693,000 | €1,653,681 | -€39,319 | -2.3% |
| Plant, machinery and equipment | 23 | €1,691,628 | €1,632,560 | -€59,069 | -3.5% |
| Furniture and vehicles | 24 | €1,371 | €21,121 | +€19,750 | +1,440% |
| Current assets | 29/58 | €41,312 | €45,326 | +€4,014 | +9.7% |
| Stocks and contracts in progress | 3 | €6,367 | €0 | -€6,367 | -100% |
| Stocks | 30/36 | €6,367 | €0 | -€6,367 | -100% |
| Amounts receivable within one year | 40/41 | €28,525 | €22,171 | -€6,354 | -22.3% |
| Trade receivables | 40 | €28,525 | €17,160 | -€11,366 | -39.8% |
| Other amounts receivable | 41 | €0 | €5,012 | +€5,012 | |
| Cash at bank and in hand | 54/58 | €3,266 | €21,320 | +€18,054 | +553% |
| Deferred charges and accrued income | 490/1 | €3,154 | €1,834 | -€1,319 | -41.8% |
| Total equity and liabilities | 10/49 | €1,734,312 | €1,699,007 | -€35,305 | -2.0% |
| Equity | 10/15 | €495,712 | €561,409 | +€65,697 | +13.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €19,576 | €17,464 | -€2,112 | -10.8% |
| Distributable reserves | 133 | €19,576 | €17,464 | -€2,112 | -10.8% |
| Profit (loss) carried forward | 14 | -€92,506 | €0 | +€92,506 | |
| Investment grants | 15 | €518,642 | €493,945 | -€24,697 | -4.8% |
| Amounts payable | 17/49 | €1,238,599 | €1,137,598 | -€101,002 | -8.2% |
| Amounts payable after more than one year | 17 | €957,963 | €888,801 | -€69,162 | -7.2% |
| Financial debts | 170/4 | €957,963 | €888,801 | -€69,162 | -7.2% |
| Amounts payable within one year | 42/48 | €280,293 | €248,453 | -€31,839 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €78,134 | €83,537 | +€5,403 | +6.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €73,089 | €40,513 | -€32,576 | -44.6% |
| Suppliers | 440/4 | €73,089 | €40,513 | -€32,576 | -44.6% |
| Taxes, remuneration and social security | 45 | €14,171 | €10,091 | -€4,080 | -28.8% |
| Taxes | 450/3 | €1,535 | €609 | -€926 | -60.3% |
| Remuneration and social security | 454/9 | €12,636 | €9,482 | -€3,154 | -25.0% |
| Other amounts payable | 47/48 | €114,899 | €114,312 | -€587 | -0.5% |
| Accrued charges and deferred income | 492/3 | €344 | €344 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €10,750 | +€10,750 | |
| Remuneration, social security and pensions | 62 | €159,500 | €165,618 | +€6,118 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,262 | €96,779 | +€3,517 | +3.8% |
| Other operating charges | 640/8 | €25,499 | €7,261 | -€18,238 | -71.5% |
| Gross operating margin | 9900 | €367,268 | €357,551 | -€9,717 | -2.6% |
| Operating profit (loss) | 9901 | €89,008 | €87,893 | -€1,115 | -1.3% |
| Financial income | 75/76B | €24,697 | €24,839 | +€142 | +0.6% |
| Recurring financial income | 75 | €24,697 | €24,839 | +€142 | +0.6% |
| Financial charges | 65/66B | €27,690 | €22,338 | -€5,352 | -19.3% |
| Recurring financial charges | 65 | €27,690 | €22,338 | -€5,352 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €86,016 | €90,394 | +€4,378 | +5.1% |
| Profit (loss) for the period | 9904 | €86,016 | €90,394 | +€4,378 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €86,016 | €90,394 | +€4,378 | +5.1% |
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 26 October 2026 via checked.be.