ZIERENBOS: what changed
What changed
ZIERENBOS
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€12,585
2024 · €75,276-€62,691
Equity
€3.9m
2024 · €3.9m+€12,585
Cash
€301,750
2024 · €485,366-€183,616
Balance sheet total
€6.6m
2024 · €4.8m+€1.8m
Largest movements
Assets
- Tangible fixed assets +€1.9m
up €1.9m (+57.0%), from €3.4m to €5.3m
of which Land and buildings: +€4.1m
- Cash -€183,616
down €183,616 (-37.8%), from €485,366 to €301,750
mainly Investment in fixed assets (net) (-€2.0m) and Tax, wage and social debts (-€92,415)
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+390%), from €500,000 to €2.5m
- Tax, wage and social debts -€92,415
down €92,415 (-81.3%), from €113,648 to €21,233
- Trade debts -€68,850
down €68,850 (-48.9%), from €140,886 to €72,036
Income statement
- Depreciation +€34,166
up €34,166 (+168%), from €20,351 to €54,517
- Financial income -€30,735
down €30,735 (-62.7%), from €49,056 to €18,320
- Gross operating margin +€8,584
up €8,584 (+13.8%), from €62,321 to €70,905
- Taxes +€4,939
up €4,939 (+356%), from €1,386 to €6,325
- Financial charges +€1,644
up €1,644 (+16.3%), from €10,057 to €11,701
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€75,276
Gross operating margin
+€8,584
Depreciation
-€34,166
Other operating charges
+€209
Financial income
-€30,735
Financial charges
-€1,644
Taxes
-€4,939
Result 2025
€12,585
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.9m
Investment
-€2.0m
Financing
-€44,097
Cash 2024
€485,366
From operations (derived)
+€1.9m
Net result for the year
+€12,585
Depreciation
+€54,517
Receivables within one year
+€10,842
Smaller working-capital items
-€4,143
Trade debts
-€68,850
Tax, wage and social debts
-€92,415
Other debts
+€2.0m
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Current investments
-€11,215
Financing
-€44,097
Debts after one year
-€44,097
Cash 2025
€301,750
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,832,823 | €6,589,520 | +€1.8m | +36.3% |
| Fixed assets | 21/28 | €3,399,130 | €5,335,454 | +€1.9m | +57.0% |
| Tangible fixed assets | 22/27 | €3,399,130 | €5,335,454 | +€1.9m | +57.0% |
| Land and buildings | 22 | €1,135,019 | €5,284,394 | +€4.1m | +366% |
| Furniture and vehicles | 24 | - | €51,060 | +€51,060 | |
| Assets under construction and advance payments | 27 | €2,264,111 | €0 | -€2.3m | -100% |
| Current assets | 29/58 | €1,433,694 | €1,254,066 | -€179,627 | -12.5% |
| Amounts receivable within one year | 40/41 | €13,692 | €2,850 | -€10,842 | -79.2% |
| Trade receivables | 40 | €2,850 | €2,850 | = | 0.0% |
| Other amounts receivable | 41 | €10,842 | €0 | -€10,842 | -100% |
| Current investments | 50/53 | €913,356 | €924,571 | +€11,215 | +1.2% |
| Cash at bank and in hand | 54/58 | €485,366 | €301,750 | -€183,616 | -37.8% |
| Deferred charges and accrued income | 490/1 | €21,279 | €24,896 | +€3,617 | +17.0% |
| Total equity and liabilities | 10/49 | €4,832,823 | €6,589,520 | +€1.8m | +36.3% |
| Equity | 10/15 | €3,857,477 | €3,870,062 | +€12,585 | +0.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €3,657,477 | €3,670,062 | +€12,585 | +0.3% |
| Non-distributable reserves | 130/1 | €20,248 | €20,248 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €248 | €248 | = | 0.0% |
| Distributable reserves | 133 | €3,637,229 | €3,649,814 | +€12,585 | +0.3% |
| Amounts payable | 17/49 | €975,347 | €2,719,458 | +€1.7m | +179% |
| Amounts payable after more than one year | 17 | €207,941 | €163,844 | -€44,097 | -21.2% |
| Financial debts | 170/4 | €207,941 | €163,844 | -€44,097 | -21.2% |
| Amounts payable within one year | 42/48 | €754,534 | €2,543,269 | +€1.8m | +237% |
| Trade debts | 44 | €140,886 | €72,036 | -€68,850 | -48.9% |
| Suppliers | 440/4 | €140,886 | €72,036 | -€68,850 | -48.9% |
| Taxes, remuneration and social security | 45 | €113,648 | €21,233 | -€92,415 | -81.3% |
| Taxes | 450/3 | €113,648 | €21,233 | -€92,415 | -81.3% |
| Other amounts payable | 47/48 | €500,000 | €2,450,000 | +€2.0m | +390% |
| Accrued charges and deferred income | 492/3 | €12,871 | €12,345 | -€526 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,351 | €54,517 | +€34,166 | +168% |
| Other operating charges | 640/8 | €4,307 | €4,098 | -€209 | -4.9% |
| Gross operating margin | 9900 | €62,321 | €70,905 | +€8,584 | +13.8% |
| Operating profit (loss) | 9901 | €37,664 | €12,291 | -€25,373 | -67.4% |
| Financial income | 75/76B | €49,056 | €18,320 | -€30,735 | -62.7% |
| Recurring financial income | 75 | €49,056 | €18,320 | -€30,735 | -62.7% |
| Financial charges | 65/66B | €10,057 | €11,701 | +€1,644 | +16.3% |
| Recurring financial charges | 65 | €10,057 | €11,701 | +€1,644 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €76,662 | €18,910 | -€57,753 | -75.3% |
| Income taxes | 67/77 | €1,386 | €6,325 | +€4,939 | +356% |
| Profit (loss) for the period | 9904 | €75,276 | €12,585 | -€62,691 | -83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,276 | €12,585 | -€62,691 | -83.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.