ZENNEVELD: 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.
What changed
ZENNEVELD
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€83,292
2024 · €190,610-€107,318
Equity
€3.0m
2024 · €2.9m+€83,292
Cash
€1.2m
2024 · €713,168+€454,450
Balance sheet total
€8.6m
2024 · €8.3m+€216,429
Largest movements
Assets
- Cash +€454,450
up €454,450 (+63.7%), from €713,168 to €1.2m
mainly Depreciation (+€334,661) and Accrued charges and deferred income (+€100,000)
- Tangible fixed assets -€292,202
down €292,202 (-4.1%), from €7.2m to €6.9m
Equity and liabilities
- Accrued charges and deferred income +€100,000
up €100,000 (+279%), from €35,877 to €135,877
Income statement
- Gross operating margin -€169,303
down €169,303 (-20.7%), from €817,390 to €648,087
- Depreciation -€105,684
down €105,684 (-24.0%), from €440,345 to €334,661
- Financial charges +€64,614
up €64,614 (+178%), from €36,296 to €100,910
- Taxes -€56,314
down €56,314 (-67.0%), from €84,078 to €27,764
- Other operating charges +€32,846
up €32,846 (+34.9%), from €94,093 to €126,940
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.
Result 2024
€190,610
Gross operating margin
-€169,303
Depreciation
+€105,684
Other operating charges
-€32,846
Financial income
-€2,553
Financial charges
-€64,614
Taxes
+€56,314
Result 2025
€83,292
raises the resultlowers the result
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.
From operations
+€466,537
Investment
-€42,459
Financing
+€30,372
Cash 2024
€713,168
From operations (derived)
+€466,537
Net result for the year
+€83,292
Depreciation
+€334,661
Receivables within one year
-€52,599
Deferred charges and accrued income
-€1,581
Provisions
-€16,771
Trade debts
+€35,929
Tax, wage and social debts
-€7,467
Advances received
-€8,927
Accrued charges and deferred income
+€100,000
Investment (derived)
-€42,459
Investment in fixed assets (net)
-€42,459
Financing
+€30,372
Debts after one year
+€30,372
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,336,220 | €8,552,649 | +€216,429 | +2.6% |
| Fixed assets | 21/28 | €7,209,350 | €6,917,148 | -€292,202 | -4.1% |
| Tangible fixed assets | 22/27 | €7,209,350 | €6,917,148 | -€292,202 | -4.1% |
| Land and buildings | 22 | €7,209,350 | €6,917,148 | -€292,202 | -4.1% |
| Current assets | 29/58 | €1,126,871 | €1,635,501 | +€508,630 | +45.1% |
| Amounts receivable within one year | 40/41 | €395,534 | €448,133 | +€52,599 | +13.3% |
| Trade receivables | 40 | €54,192 | €80,260 | +€26,068 | +48.1% |
| Other amounts receivable | 41 | €341,342 | €367,873 | +€26,532 | +7.8% |
| Cash at bank and in hand | 54/58 | €713,168 | €1,167,617 | +€454,450 | +63.7% |
| Deferred charges and accrued income | 490/1 | €18,169 | €19,750 | +€1,581 | +8.7% |
| Total equity and liabilities | 10/49 | €8,336,220 | €8,552,649 | +€216,429 | +2.6% |
| Equity | 10/15 | €2,925,229 | €3,008,521 | +€83,292 | +2.8% |
| Contributions | 10/11 | €993,836 | €993,836 | = | 0.0% |
| Capital | 10 | €993,836 | €993,836 | = | 0.0% |
| Issued capital | 100 | €993,836 | €993,836 | = | 0.0% |
| Reserves | 13 | €1,931,393 | €2,014,685 | +€83,292 | +4.3% |
| Non-distributable reserves | 130/1 | €99,384 | €99,384 | = | 0.0% |
| Legal reserve | 130 | €99,384 | €99,384 | = | 0.0% |
| Tax-exempt reserves | 132 | €183,568 | €183,568 | = | 0.0% |
| Distributable reserves | 133 | €1,648,441 | €1,731,733 | +€83,292 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €152,495 | €135,724 | -€16,771 | -11.0% |
| Deferred taxes | 168 | €152,495 | €135,724 | -€16,771 | -11.0% |
| Amounts payable | 17/49 | €5,258,496 | €5,408,404 | +€149,908 | +2.9% |
| Amounts payable after more than one year | 17 | €5,037,468 | €5,067,840 | +€30,372 | +0.6% |
| Financial debts | 170/4 | €5,000,000 | €5,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €37,468 | €67,840 | +€30,372 | +81.1% |
| Amounts payable within one year | 42/48 | €185,152 | €204,687 | +€19,536 | +10.6% |
| Trade debts | 44 | €119,547 | €155,476 | +€35,929 | +30.1% |
| Suppliers | 440/4 | €119,547 | €155,476 | +€35,929 | +30.1% |
| Advances received on contracts in progress | 46 | €8,927 | €0 | -€8,927 | -100% |
| Taxes, remuneration and social security | 45 | €56,678 | €49,211 | -€7,467 | -13.2% |
| Taxes | 450/3 | €56,678 | €49,211 | -€7,467 | -13.2% |
| Accrued charges and deferred income | 492/3 | €35,877 | €135,877 | +€100,000 | +279% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440,345 | €334,661 | -€105,684 | -24.0% |
| Other operating charges | 640/8 | €94,093 | €126,940 | +€32,846 | +34.9% |
| Gross operating margin | 9900 | €817,390 | €648,087 | -€169,303 | -20.7% |
| Operating profit (loss) | 9901 | €282,952 | €186,487 | -€96,465 | -34.1% |
| Financial income | 75/76B | €11,262 | €8,709 | -€2,553 | -22.7% |
| Recurring financial income | 75 | €11,262 | €8,709 | -€2,553 | -22.7% |
| Financial charges | 65/66B | €36,296 | €100,910 | +€64,614 | +178% |
| Recurring financial charges | 65 | €36,296 | €100,910 | +€64,614 | +178% |
| Profit (loss) for the period before taxes | 9903 | €257,917 | €94,285 | -€163,632 | -63.4% |
| Transfer from deferred taxes | 780 | €16,771 | €16,771 | = | 0.0% |
| Income taxes | 67/77 | €84,078 | €27,764 | -€56,314 | -67.0% |
| Profit (loss) for the period | 9904 | €190,610 | €83,292 | -€107,318 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €190,610 | €83,292 | -€107,318 | -56.3% |
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 23 October 2026 via checked.be.