ZOETHOUDT: 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.
What changed
ZOETHOUDT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€240,094
2023 · -€114,099+€354,193
Equity
-€371,972
2023 · -€612,066+€240,094
Cash
€182,639
2023 · €112,738+€69,901
Balance sheet total
€10.6m
2023 · €9.4m+€1.2m
Largest movements
Assets
- Receivables within one year +€747,685
up €747,685 (+54.0%), from €1.4m to €2.1m
of which Other amounts receivable: +€2.1m
- Tangible fixed assets +€348,474
up €348,474 (+5.1%), from €6.8m to €7.2m
of which Land and buildings: +€348,728
Equity and liabilities
- Other debts +€1.3m
up €1.3m (+42.4%), from €3.0m to €4.3m
- Short-term financial debts -€300,000
down €300,000 (-8.1%), from €3.7m to €3.4m
- Profit (loss) carried forward +€240,094
up €240,094 (+16.2%), from -€1.5m to -€1.2m
Income statement
- Gross operating margin +€362,472
up €362,472 (+55.9%), from €648,119 to €1.0m
- Depreciation +€53,089
up €53,089 (+9.1%), from €580,339 to €633,428
- Financial charges -€29,136
down €29,136 (-18.7%), from €155,724 to €126,587
- Financial income +€15,925
up €15,925 (+44.8%), from €35,563 to €51,488
From the 2023 result to the 2024 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 2023
-€114,099
Gross operating margin
+€362,472
Depreciation
-€53,089
Other operating charges
+€184
Financial income
+€15,925
Financial charges
+€29,136
Taxes
-€436
Result 2024
€240,094
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.4m
Investment
-€981,902
Financing
-€380,700
Cash 2023
€112,738
From operations (derived)
+€1.4m
Net result for the year
+€240,094
Depreciation
+€633,428
Receivables after one year
-€34,825
Receivables within one year
-€747,685
Deferred charges and accrued income
+€12,307
Trade debts
-€21,487
Tax, wage and social debts
+€66,927
Other debts
+€1.3m
Accrued charges and deferred income
+€2,950
Investment (derived)
-€981,902
Investment in fixed assets (net)
-€981,902
Financing
-€380,700
Debts after one year
-€63,935
Current portion of long-term debt
-€16,765
Short-term financial debts
-€300,000
Cash 2024
€182,639
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,407,453 | €10,596,032 | +€1.2m | +12.6% |
| Fixed assets | 21/28 | €6,985,835 | €7,334,309 | +€348,474 | +5.0% |
| Tangible fixed assets | 22/27 | €6,834,986 | €7,183,460 | +€348,474 | +5.1% |
| Land and buildings | 22 | €6,834,127 | €7,182,855 | +€348,728 | +5.1% |
| Plant, machinery and equipment | 23 | €859 | €605 | -€254 | -29.5% |
| Financial fixed assets | 28 | €150,849 | €150,849 | = | 0.0% |
| Current assets | 29/58 | €2,421,618 | €3,261,722 | +€840,104 | +34.7% |
| Amounts receivable after more than one year | 29 | €865,287 | €900,112 | +€34,825 | +4.0% |
| Other amounts receivable | 291 | €865,287 | €900,112 | +€34,825 | +4.0% |
| Amounts receivable within one year | 40/41 | €1,384,475 | €2,132,160 | +€747,685 | +54.0% |
| Trade receivables | 40 | €1,382,585 | €40,825 | -€1.3m | -97.0% |
| Other amounts receivable | 41 | €1,890 | €2,091,335 | +€2.1m | +110552.6% |
| Cash at bank and in hand | 54/58 | €112,738 | €182,639 | +€69,901 | +62.0% |
| Deferred charges and accrued income | 490/1 | €59,118 | €46,811 | -€12,307 | -20.8% |
| Total equity and liabilities | 10/49 | €9,407,453 | €10,596,032 | +€1.2m | +12.6% |
| Equity | 10/15 | -€612,066 | -€371,972 | +€240,094 | +39.2% |
| Contributions | 10/11 | €867,150 | €867,150 | = | 0.0% |
| Reserves | 13 | €405 | €405 | = | 0.0% |
| Non-distributable reserves | 130/1 | €405 | €405 | = | 0.0% |
| Reserves not available under the articles | 1311 | €405 | €405 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,479,621 | -€1,239,527 | +€240,094 | +16.2% |
| Amounts payable | 17/49 | €10,019,519 | €10,968,003 | +€948,484 | +9.5% |
| Amounts payable after more than one year | 17 | €2,698,041 | €2,634,105 | -€63,935 | -2.4% |
| Financial debts | 170/4 | €2,698,041 | €2,634,105 | -€63,935 | -2.4% |
| Amounts payable within one year | 42/48 | €7,321,478 | €8,330,948 | +€1.0m | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €80,700 | €63,935 | -€16,765 | -20.8% |
| Financial debts | 43 | €3,725,000 | €3,425,000 | -€300,000 | -8.1% |
| Credit institutions | 430/8 | €3,725,000 | €3,425,000 | -€300,000 | -8.1% |
| Trade debts | 44 | €411,022 | €389,535 | -€21,487 | -5.2% |
| Suppliers | 440/4 | €411,022 | €389,535 | -€21,487 | -5.2% |
| Taxes, remuneration and social security | 45 | €85,617 | €152,544 | +€66,927 | +78.2% |
| Taxes | 450/3 | €85,617 | €152,544 | +€66,927 | +78.2% |
| Other amounts payable | 47/48 | €3,019,140 | €4,299,934 | +€1.3m | +42.4% |
| Accrued charges and deferred income | 492/3 | €0 | €2,950 | +€2,950 | |
| Non-recurring operating income | 76A | - | €17,212 | +€17,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €580,339 | €633,428 | +€53,089 | +9.1% |
| Other operating charges | 640/8 | €61,850 | €61,665 | -€184 | -0.3% |
| Gross operating margin | 9900 | €648,119 | €1,010,591 | +€362,472 | +55.9% |
| Operating profit (loss) | 9901 | €5,930 | €315,498 | +€309,567 | +5220.1% |
| Financial income | 75/76B | €35,563 | €51,488 | +€15,925 | +44.8% |
| Recurring financial income | 75 | €35,563 | €51,488 | +€15,925 | +44.8% |
| Financial charges | 65/66B | €155,724 | €126,587 | -€29,136 | -18.7% |
| Recurring financial charges | 65 | €155,724 | €126,587 | -€29,136 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | -€114,230 | €240,398 | +€354,629 | |
| Income taxes | 67/77 | -€132 | €304 | +€436 | |
| Profit (loss) for the period | 9904 | -€114,099 | €240,094 | +€354,193 | |
| Profit (loss) for the period to be appropriated | 9905 | -€114,099 | €240,094 | +€354,193 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.