ZUIDERBAD: 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.
ZUIDERBAD
Largest movements
- Current investments -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Cash +€115,051
up €115,051 (+60.3%), from €190,658 to €305,709
mainly Current investments (+€150,000) and Net result for the year (+€66,875)
- Receivables within one year +€58,719
up €58,719 (+57.6%), from €101,855 to €160,574
of which Trade receivables: +€85,821
- Receivables after one year +€25,000
new in 2025: €25,000
- Intangible fixed assets +€22,235
new in 2025: €22,235
- Debts after one year -€71,720
down €71,720 (-74.2%), from €96,698 to €24,978
of which Financial debts: -€42,449
- Reserves +€66,875
up €66,875 (+18.8%), from €354,833 to €421,708
- Trade debts +€53,018
up €53,018 (+94.8%), from €55,897 to €108,915
- Tax, wage and social debts +€25,133
up €25,133 (+47.3%), from €53,086 to €78,219
of which Taxes: +€13,411
- Gross operating margin -€114,449
down €114,449 (-13.6%), from €843,652 to €729,203
- Taxes -€49,506
down €49,506 (-66.7%), from €74,276 to €24,770
- Staff costs +€26,263
up €26,263 (+4.8%), from €547,168 to €573,431
- Depreciation +€12,465
up €12,465 (+27.5%), from €45,362 to €57,827
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.
Cash bridge derived
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 | €612,540 | €685,998 | +€73,458 | +12.0% |
| Fixed assets | 21/28 | €147,493 | €175,302 | +€27,809 | +18.9% |
| Intangible fixed assets | 21 | - | €22,235 | +€22,235 | |
| Tangible fixed assets | 22/27 | €143,743 | €149,319 | +€5,576 | +3.9% |
| Land and buildings | 22 | €1,196 | €17,645 | +€16,449 | +1375.2% |
| Plant, machinery and equipment | 23 | €53,030 | €62,341 | +€9,311 | +17.6% |
| Furniture and vehicles | 24 | €40,982 | €34,489 | -€6,494 | -15.8% |
| Other tangible fixed assets | 26 | €48,535 | €34,845 | -€13,690 | -28.2% |
| Financial fixed assets | 28 | €3,750 | €3,748 | -€2 | -0.1% |
| Current assets | 29/58 | €465,047 | €510,696 | +€45,649 | +9.8% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Stocks and contracts in progress | 3 | €17,000 | €16,483 | -€517 | -3.0% |
| Stocks | 30/36 | €17,000 | €16,483 | -€517 | -3.0% |
| Amounts receivable within one year | 40/41 | €101,855 | €160,574 | +€58,719 | +57.6% |
| Trade receivables | 40 | €68,697 | €154,518 | +€85,821 | +124.9% |
| Other amounts receivable | 41 | €33,159 | €6,056 | -€27,102 | -81.7% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €190,658 | €305,709 | +€115,051 | +60.3% |
| Deferred charges and accrued income | 490/1 | €5,533 | €2,929 | -€2,604 | -47.1% |
| Total equity and liabilities | 10/49 | €612,540 | €685,998 | +€73,458 | +12.0% |
| Equity | 10/15 | €364,833 | €431,708 | +€66,875 | +18.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €354,833 | €421,708 | +€66,875 | +18.8% |
| Distributable reserves | 133 | €354,833 | €421,708 | +€66,875 | +18.8% |
| Amounts payable | 17/49 | €247,707 | €254,290 | +€6,583 | +2.7% |
| Amounts payable after more than one year | 17 | €96,698 | €24,978 | -€71,720 | -74.2% |
| Financial debts | 170/4 | €67,426 | €24,978 | -€42,449 | -63.0% |
| Other amounts payable | 178/9 | €29,271 | €0 | -€29,271 | -100.0% |
| Amounts payable within one year | 42/48 | €151,009 | €229,312 | +€78,303 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €37,830 | €36,510 | -€1,319 | -3.5% |
| Trade debts | 44 | €55,897 | €108,915 | +€53,018 | +94.8% |
| Suppliers | 440/4 | €55,897 | €108,915 | +€53,018 | +94.8% |
| Taxes, remuneration and social security | 45 | €53,086 | €78,219 | +€25,133 | +47.3% |
| Taxes | 450/3 | €3,362 | €16,774 | +€13,411 | +398.9% |
| Remuneration and social security | 454/9 | €49,723 | €61,445 | +€11,722 | +23.6% |
| Other amounts payable | 47/48 | €4,196 | €5,668 | +€1,472 | +35.1% |
| Remuneration, social security and pensions | 62 | €547,168 | €573,431 | +€26,263 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,362 | €57,827 | +€12,465 | +27.5% |
| Other operating charges | 640/8 | €5,632 | €5,570 | -€61 | -1.1% |
| Gross operating margin | 9900 | €843,652 | €729,203 | -€114,449 | -13.6% |
| Operating profit (loss) | 9901 | €245,490 | €92,375 | -€153,115 | -62.4% |
| Financial income | 75/76B | €1,332 | €1,289 | -€44 | -3.3% |
| Recurring financial income | 75 | €1,332 | €1,289 | -€44 | -3.3% |
| Financial charges | 65/66B | €2,527 | €2,019 | -€508 | -20.1% |
| Recurring financial charges | 65 | €2,527 | €2,019 | -€508 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €244,296 | €91,645 | -€152,651 | -62.5% |
| Income taxes | 67/77 | €74,276 | €24,770 | -€49,506 | -66.7% |
| Profit (loss) for the period | 9904 | €170,020 | €66,875 | -€103,145 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €170,020 | €66,875 | -€103,145 | -60.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.