Zenne 34: 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.
Zenne 34
Largest movements
- Deferred charges and accrued income -€429,137
no longer reported in 2025 (was €429,137)
- Tangible fixed assets +€404,151
new in 2025: €404,151
- Cash -€7,698
down €7,698 (-66.1%), from €11,643 to €3,945
mainly Investment in fixed assets (net) (-€425,601) and Debts after one year (-€28,282)
- Debts after one year -€28,282
down €28,282 (-6.6%), from €429,000 to €400,718
of which Financial debts: -€31,609
- Profit (loss) carried forward -€22,390
down €22,390 (-29.4%), from -€76,117 to -€98,508
- Trade debts -€17,860
down €17,860 (-98.9%), from €18,055 to €195
of which Bills of exchange payable: -€14,657
- Current portion of long-term debt +€16,058
new in 2025: €16,058
- Other debts +€15,846
new in 2025: €15,846
- Other operating charges -€56,153
down €56,153 (-93.7%), from €59,910 to €3,757
- Gross operating margin +€29,474
up €29,474, from -€12,804 to €16,670
- Depreciation +€18,051
up €18,051 (+531.1%), from €3,399 to €21,450
- Financial charges +€13,849
up €13,849 (+283783.6%), from €5 to €13,854
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.
Cash bridge derived
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 | €443,238 | €408,097 | -€35,141 | -7.9% |
| Fixed assets | 21/28 | - | €404,151 | +€404,151 | |
| Tangible fixed assets | 22/27 | - | €404,151 | +€404,151 | |
| Land and buildings | 22 | - | €404,151 | +€404,151 | |
| Current assets | 29/58 | €443,238 | €3,945 | -€439,293 | -99.1% |
| Amounts receivable within one year | 40/41 | €2,458 | - | -€2,458 | |
| Other amounts receivable | 41 | €2,458 | - | -€2,458 | |
| Cash at bank and in hand | 54/58 | €11,643 | €3,945 | -€7,698 | -66.1% |
| Deferred charges and accrued income | 490/1 | €429,137 | - | -€429,137 | |
| Total equity and liabilities | 10/49 | €443,238 | €408,097 | -€35,141 | -7.9% |
| Equity | 10/15 | -€3,817 | -€26,208 | -€22,390 | -586.5% |
| Contributions | 10/11 | €72,300 | €72,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,117 | -€98,508 | -€22,390 | -29.4% |
| Amounts payable | 17/49 | €447,055 | €434,304 | -€12,751 | -2.9% |
| Amounts payable after more than one year | 17 | €429,000 | €400,718 | -€28,282 | -6.6% |
| Financial debts | 170/4 | €429,000 | €397,391 | -€31,609 | -7.4% |
| Trade debts | 175 | - | €3,328 | +€3,328 | |
| Amounts payable within one year | 42/48 | €18,055 | €33,586 | +€15,531 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | - | €16,058 | +€16,058 | |
| Trade debts | 44 | €18,055 | €195 | -€17,860 | -98.9% |
| Suppliers | 440/4 | €3,399 | €195 | -€3,203 | -94.3% |
| Bills of exchange payable | 441 | €14,657 | - | -€14,657 | |
| Taxes, remuneration and social security | 45 | - | €1,487 | +€1,487 | |
| Taxes | 450/3 | - | €1,487 | +€1,487 | |
| Other amounts payable | 47/48 | - | €15,846 | +€15,846 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,399 | €21,450 | +€18,051 | +531.1% |
| Other operating charges | 640/8 | €59,910 | €3,757 | -€56,153 | -93.7% |
| Gross operating margin | 9900 | -€12,804 | €16,670 | +€29,474 | |
| Operating profit (loss) | 9901 | -€76,112 | -€8,537 | +€67,576 | +88.8% |
| Financial charges | 65/66B | €5 | €13,854 | +€13,849 | +283783.6% |
| Recurring financial charges | 65 | €5 | €13,854 | +€13,849 | +283783.6% |
| Profit (loss) for the period before taxes | 9903 | -€76,117 | -€22,390 | +€53,727 | +70.6% |
| Profit (loss) for the period | 9904 | -€76,117 | -€22,390 | +€53,727 | +70.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,117 | -€22,390 | +€53,727 | +70.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.