ZEN COTTAGE: 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.
ZEN COTTAGE
Largest movements
- Tangible fixed assets -€45,775
down €45,775 (-6.1%), from €754,808 to €709,033
of which Land and buildings: -€33,173
- Cash +€29,493
up €29,493 (+148%), from €19,936 to €49,430
mainly Depreciation (+€46,781) and Other debts (+€7,622)
- Reserves -€15,543
down €15,543 (-4.0%), from €389,181 to €373,638
of which Tax-exempt reserves: -€18,543
- Provisions -€9,548
down €9,548 (-6.0%), from €159,797 to €150,249
- Gross operating margin +€6,266
up €6,266 (+23.8%), from €26,357 to €32,623
- Taxes +€2,294
up €2,294 (+441%), from €521 to €2,814
- Depreciation -€1,908
down €1,908 (-3.9%), from €48,689 to €46,781
- Other operating charges +€819
up €819 (+11.6%), from €7,064 to €7,882
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 | €812,625 | €796,429 | -€16,197 | -2.0% |
| Fixed assets | 21/28 | €754,808 | €709,033 | -€45,775 | -6.1% |
| Tangible fixed assets | 22/27 | €754,808 | €709,033 | -€45,775 | -6.1% |
| Land and buildings | 22 | €734,974 | €701,801 | -€33,173 | -4.5% |
| Plant, machinery and equipment | 23 | €84 | €883 | +€800 | +957% |
| Furniture and vehicles | 24 | €9,840 | €4,643 | -€5,198 | -52.8% |
| Other tangible fixed assets | 26 | €9,911 | €1,707 | -€8,203 | -82.8% |
| Current assets | 29/58 | €57,817 | €87,395 | +€29,578 | +51.2% |
| Stocks and contracts in progress | 3 | €1,705 | €1,705 | = | 0.0% |
| Stocks | 30/36 | €1,705 | €1,705 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,140 | €33,480 | +€5,340 | +19.0% |
| Trade receivables | 40 | €10,488 | €14,292 | +€3,804 | +36.3% |
| Other amounts receivable | 41 | €17,652 | €19,188 | +€1,536 | +8.7% |
| Current investments | 50/53 | €200 | €200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,936 | €49,430 | +€29,493 | +148% |
| Deferred charges and accrued income | 490/1 | €7,835 | €2,580 | -€5,255 | -67.1% |
| Total equity and liabilities | 10/49 | €812,625 | €796,429 | -€16,197 | -2.0% |
| Equity | 10/15 | €640,069 | €624,813 | -€15,256 | -2.4% |
| Contributions | 10/11 | €243,943 | €243,943 | = | 0.0% |
| Reserves | 13 | €389,181 | €373,638 | -€15,543 | -4.0% |
| Tax-exempt reserves | 132 | €381,577 | €363,034 | -€18,543 | -4.9% |
| Distributable reserves | 133 | €7,605 | €10,605 | +€3,000 | +39.4% |
| Profit (loss) carried forward | 14 | €6,945 | €7,232 | +€287 | +4.1% |
| Provisions and deferred taxes | 16 | €159,797 | €150,249 | -€9,548 | -6.0% |
| Deferred taxes | 168 | €159,797 | €150,249 | -€9,548 | -6.0% |
| Amounts payable | 17/49 | €12,759 | €21,367 | +€8,608 | +67.5% |
| Amounts payable within one year | 42/48 | €12,759 | €20,937 | +€8,178 | +64.1% |
| Trade debts | 44 | €2,277 | €687 | -€1,591 | -69.9% |
| Suppliers | 440/4 | €2,277 | €687 | -€1,591 | -69.9% |
| Taxes, remuneration and social security | 45 | €606 | €2,752 | +€2,147 | +354% |
| Taxes | 450/3 | €606 | €2,752 | +€2,147 | +354% |
| Other amounts payable | 47/48 | €9,876 | €17,498 | +€7,622 | +77.2% |
| Accrued charges and deferred income | 492/3 | - | €430 | +€430 | |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,689 | €46,781 | -€1,908 | -3.9% |
| Other operating charges | 640/8 | €7,064 | €7,882 | +€819 | +11.6% |
| Gross operating margin | 9900 | €26,357 | €32,623 | +€6,266 | +23.8% |
| Operating profit (loss) | 9901 | -€29,395 | -€22,040 | +€7,355 | +25.0% |
| Financial income | 75/76B | €56 | €207 | +€151 | +267% |
| Recurring financial income | 75 | €56 | €207 | +€151 | +267% |
| Financial charges | 65/66B | €135 | €157 | +€22 | +16.2% |
| Recurring financial charges | 65 | €135 | €157 | +€22 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€29,474 | -€21,990 | +€7,484 | +25.4% |
| Transfer from deferred taxes | 780 | €11,109 | €9,548 | -€1,561 | -14.1% |
| Income taxes | 67/77 | €521 | €2,814 | +€2,294 | +441% |
| Profit (loss) for the period | 9904 | -€18,885 | -€15,256 | +€3,629 | +19.2% |
| Transfer from tax-exempt reserves | 789 | €21,574 | €18,543 | -€3,031 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,689 | €3,287 | +€598 | +22.2% |
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 21 October 2026 via checked.be.