Zuidco: 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.
Zuidco
Largest movements
- Financial fixed assets -€298,500
down €298,500 (-13.0%), from €2.3m to €2.0m
- Cash +€144,778
up €144,778 (+3,100%), from €4,671 to €149,449
mainly Investment in fixed assets (net) (+€298,500) and Stocks and contracts (+€103,104)
- Stocks and contracts -€103,104
down €103,104 (-20.9%), from €493,347 to €390,243
- Debts after one year -€358,814
down €358,814 (-24.5%), from €1.5m to €1.1m
- Profit (loss) carried forward +€101,551
up €101,551 (+11.0%), from €919,905 to €1.0m
- Gross operating margin +€120,172
up €120,172, from -€6,674 to €113,498
- Taxes +€30,084
up €30,084 (+695%), from €4,326 to €34,410
- Financial charges +€7,537
up €7,537 (+18.2%), from €41,337 to €48,874
- Financial income +€7,484
up €7,484 (+11.5%), from €65,080 to €72,563
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 | €2,869,571 | €2,615,820 | -€253,751 | -8.8% |
| Fixed assets | 21/28 | €2,301,474 | €2,002,974 | -€298,500 | -13.0% |
| Financial fixed assets | 28 | €2,301,474 | €2,002,974 | -€298,500 | -13.0% |
| Current assets | 29/58 | €568,097 | €612,846 | +€44,749 | +7.9% |
| Stocks and contracts in progress | 3 | €493,347 | €390,243 | -€103,104 | -20.9% |
| Stocks | 30/36 | €493,347 | €390,243 | -€103,104 | -20.9% |
| Amounts receivable within one year | 40/41 | €70,079 | €73,154 | +€3,075 | +4.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €70,079 | €73,154 | +€3,075 | +4.4% |
| Cash at bank and in hand | 54/58 | €4,671 | €149,449 | +€144,778 | +3,100% |
| Total equity and liabilities | 10/49 | €2,869,571 | €2,615,820 | -€253,751 | -8.8% |
| Equity | 10/15 | €1,358,409 | €1,459,960 | +€101,551 | +7.5% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €38,504 | €38,504 | = | 0.0% |
| Distributable reserves | 133 | €38,504 | €38,504 | = | 0.0% |
| Profit (loss) carried forward | 14 | €919,905 | €1,021,456 | +€101,551 | +11.0% |
| Amounts payable | 17/49 | €1,511,161 | €1,155,859 | -€355,302 | -23.5% |
| Amounts payable after more than one year | 17 | €1,465,584 | €1,106,771 | -€358,814 | -24.5% |
| Other amounts payable | 178/9 | €1,465,584 | €1,106,771 | -€358,814 | -24.5% |
| Amounts payable within one year | 42/48 | €4,391 | €260 | -€4,131 | -94.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €65 | €260 | +€195 | +300% |
| Suppliers | 440/4 | €65 | €260 | +€195 | +300% |
| Taxes, remuneration and social security | 45 | €4,326 | €0 | -€4,326 | -100% |
| Taxes | 450/3 | €4,326 | €0 | -€4,326 | -100% |
| Accrued charges and deferred income | 492/3 | €41,186 | €48,829 | +€7,643 | +18.6% |
| Other operating charges | 640/8 | €1,194 | €1,226 | +€33 | +2.8% |
| Gross operating margin | 9900 | -€6,674 | €113,498 | +€120,172 | |
| Operating profit (loss) | 9901 | -€7,868 | €112,271 | +€120,139 | |
| Financial income | 75/76B | €65,080 | €72,563 | +€7,484 | +11.5% |
| Recurring financial income | 75 | €65,080 | €72,563 | +€7,484 | +11.5% |
| Financial charges | 65/66B | €41,337 | €48,874 | +€7,537 | +18.2% |
| Recurring financial charges | 65 | €41,337 | €48,874 | +€7,537 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €15,875 | €135,961 | +€120,086 | +756% |
| Income taxes | 67/77 | €4,326 | €34,410 | +€30,084 | +695% |
| Profit (loss) for the period | 9904 | €11,549 | €101,551 | +€90,002 | +779% |
| Profit (loss) for the period to be appropriated | 9905 | €11,549 | €101,551 | +€90,002 | +779% |
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 13 October 2026 via checked.be.