ZENNEHOF: 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.
ZENNEHOF
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+1,078%), from €169,618 to €2.0m
- Cash +€146,348
up €146,348 (+94.1%), from €155,456 to €301,804
mainly Contributions, distributions and other (+€1.8m) and Other debts (+€139,351)
- Revaluation surpluses +€1.8m
up €1.8m (+2,939%), from €62,436 to €1.9m
- Other debts +€139,351
up €139,351 (+405%), from €34,400 to €173,751
- Gross operating margin +€3,023
up €3,023 (+2.6%), from €118,421 to €121,444
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 | €330,952 | €2,303,983 | +€2.0m | +596% |
| Fixed assets | 21/28 | €169,618 | €1,998,000 | +€1.8m | +1,078% |
| Tangible fixed assets | 22/27 | €169,618 | €1,998,000 | +€1.8m | +1,078% |
| Land and buildings | 22 | €169,618 | €1,998,000 | +€1.8m | +1,078% |
| Current assets | 29/58 | €161,333 | €305,983 | +€144,650 | +89.7% |
| Amounts receivable within one year | 40/41 | €5,353 | €3,638 | -€1,715 | -32.0% |
| Trade receivables | 40 | €5,353 | €0 | -€5,353 | -100% |
| Other amounts receivable | 41 | - | €3,638 | +€3,638 | |
| Cash at bank and in hand | 54/58 | €155,456 | €301,804 | +€146,348 | +94.1% |
| Deferred charges and accrued income | 490/1 | €524 | €541 | +€17 | +3.3% |
| Total equity and liabilities | 10/49 | €330,952 | €2,303,983 | +€2.0m | +596% |
| Equity | 10/15 | €266,434 | €2,116,311 | +€1.8m | +694% |
| Contributions | 10/11 | €62,469 | €62,469 | = | 0.0% |
| Capital | 10 | €62,469 | €62,469 | = | 0.0% |
| Issued capital | 100 | €62,469 | €62,469 | = | 0.0% |
| Revaluation surpluses | 12 | €62,436 | €1,897,686 | +€1.8m | +2,939% |
| Reserves | 13 | €141,528 | €156,156 | +€14,628 | +10.3% |
| Non-distributable reserves | 130/1 | €6,247 | €6,247 | = | 0.0% |
| Legal reserve | 130 | €6,247 | €6,247 | = | 0.0% |
| Distributable reserves | 133 | €135,281 | €149,909 | +€14,628 | +10.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €64,518 | €187,673 | +€123,155 | +191% |
| Amounts payable within one year | 42/48 | €64,518 | €187,673 | +€123,155 | +191% |
| Trade debts | 44 | €28,281 | €12,084 | -€16,197 | -57.3% |
| Suppliers | 440/4 | €28,281 | €12,084 | -€16,197 | -57.3% |
| Taxes, remuneration and social security | 45 | €1,837 | €1,837 | = | 0.0% |
| Taxes | 450/3 | €1,837 | €1,837 | = | 0.0% |
| Other amounts payable | 47/48 | €34,400 | €173,751 | +€139,351 | +405% |
| Non-recurring operating income | 76A | - | €18,265 | +€18,265 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,084 | €6,868 | +€784 | +12.9% |
| Other operating charges | 640/8 | €34,254 | €34,966 | +€713 | +2.1% |
| Gross operating margin | 9900 | €118,421 | €121,444 | +€3,023 | +2.6% |
| Operating profit (loss) | 9901 | €78,084 | €79,610 | +€1,526 | +2.0% |
| Financial income | 75/76B | €44 | €47 | +€3 | +7.6% |
| Recurring financial income | 75 | €44 | €47 | +€3 | +7.6% |
| Financial charges | 65/66B | €152 | €153 | +€2 | +1.1% |
| Recurring financial charges | 65 | €152 | €153 | +€2 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €77,976 | €79,504 | +€1,527 | +2.0% |
| Income taxes | 67/77 | €18,849 | €19,876 | +€1,027 | +5.4% |
| Profit (loss) for the period | 9904 | €59,127 | €59,628 | +€501 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,127 | €59,628 | +€501 | +0.8% |
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 24 October 2026 via checked.be.