ZILT VASTGOED: what changed
ZILT VASTGOED
Largest movements
- Tangible fixed assets -€1.8m
no longer reported in 2025 (was €1.8m)
of which Other tangible fixed assets: -€1.8m
- Receivables within one year +€1.2m
up €1.2m (+311%), from €392,974 to €1.6m
of which Other amounts receivable: +€1.2m
- Cash +€123,087
up €123,087 (+633%), from €19,431 to €142,518
- Short-term financial debts -€1.4m
down €1.4m (-84.4%), from €1.6m to €250,000
of which Credit institutions: -€1.6m
- Reserves +€744,936
up €744,936 (+2,092%), from €35,601 to €780,537
of which Tax-exempt reserves: +€744,936
- Provisions +€248,312
new in 2025: €248,312
- Debts after one year -€235,000
no longer reported in 2025 (was €235,000)
- Profit (loss) carried forward +€131,274
up €131,274, from -€102,000 to €29,274
- Gross operating margin +€1.1m
up €1.1m (+995%), from €114,619 to €1.3m
- Financial charges +€97,093
up €97,093 (+148%), from €65,570 to €162,663
- Financial income +€31,932
up €31,932 (+273%), from €11,682 to €43,614
Change in the result, 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,255,286 | €1,761,628 | -€493,658 | -21.9% |
| Fixed assets | 21/28 | €1,842,353 | - | -€1.8m | |
| Tangible fixed assets | 22/27 | €1,842,353 | - | -€1.8m | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,842,353 | - | -€1.8m | |
| Current assets | 29/58 | €412,932 | €1,761,628 | +€1.3m | +327% |
| Amounts receivable within one year | 40/41 | €392,974 | €1,614,715 | +€1.2m | +311% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €392,974 | €1,614,715 | +€1.2m | +311% |
| Cash at bank and in hand | 54/58 | €19,431 | €142,518 | +€123,087 | +633% |
| Deferred charges and accrued income | 490/1 | €528 | €4,396 | +€3,868 | +733% |
| Total equity and liabilities | 10/49 | €2,255,286 | €1,761,628 | -€493,658 | -21.9% |
| Equity | 10/15 | €333,601 | €1,209,811 | +€876,210 | +263% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €35,601 | €780,537 | +€744,936 | +2,092% |
| Tax-exempt reserves | 132 | - | €744,936 | +€744,936 | |
| Distributable reserves | 133 | €35,601 | €35,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,000 | €29,274 | +€131,274 | |
| Provisions and deferred taxes | 16 | - | €248,312 | +€248,312 | |
| Deferred taxes | 168 | - | €248,312 | +€248,312 | |
| Amounts payable | 17/49 | €1,921,685 | €303,505 | -€1.6m | -84.2% |
| Amounts payable after more than one year | 17 | €235,000 | - | -€235,000 | |
| Financial debts | 170/4 | €235,000 | - | -€235,000 | |
| Amounts payable within one year | 42/48 | €1,652,606 | €301,307 | -€1.4m | -81.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,600,000 | €250,000 | -€1.4m | -84.4% |
| Credit institutions | 430/8 | €1,600,000 | - | -€1.6m | |
| Other loans | 439 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €13,207 | €1,934 | -€11,273 | -85.4% |
| Suppliers | 440/4 | €13,207 | €1,934 | -€11,273 | -85.4% |
| Taxes, remuneration and social security | 45 | €639 | €8,786 | +€8,147 | +1,275% |
| Taxes | 450/3 | €639 | €8,786 | +€8,147 | +1,275% |
| Other amounts payable | 47/48 | €38,759 | €40,587 | +€1,828 | +4.7% |
| Accrued charges and deferred income | 492/3 | €34,079 | €2,198 | -€31,881 | -93.6% |
| Non-recurring operating income | 76A | - | €1,307,647 | +€1.3m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €20,059 | €11,325 | -€8,734 | -43.5% |
| Non-recurring operating charges | 66A | €18,814 | - | -€18,814 | |
| Gross operating margin | 9900 | €114,619 | €1,254,896 | +€1.1m | +995% |
| Operating profit (loss) | 9901 | €75,747 | €1,243,571 | +€1.2m | +1,542% |
| Financial income | 75/76B | €11,682 | €43,614 | +€31,932 | +273% |
| Recurring financial income | 75 | €11,682 | €43,614 | +€31,932 | +273% |
| Financial charges | 65/66B | €65,570 | €162,663 | +€97,093 | +148% |
| Recurring financial charges | 65 | €65,570 | €162,663 | +€97,093 | +148% |
| Profit (loss) for the period before taxes | 9903 | €21,859 | €1,124,522 | +€1.1m | +5,045% |
| Transfer to deferred taxes | 680 | - | €248,312 | +€248,312 | |
| Profit (loss) for the period | 9904 | €21,859 | €876,210 | +€854,351 | +3,909% |
| Transfer to tax-exempt reserves | 689 | - | €744,936 | +€744,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,859 | €131,274 | +€109,415 | +501% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 October 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.