ZUIDERTERRAS: 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.
ZUIDERTERRAS
Largest movements
- Receivables within one year +€106,304
up €106,304 (+168.6%), from €63,046 to €169,351
of which Trade receivables: +€99,201
- Cash -€86,305
down €86,305 (-33.9%), from €254,323 to €168,018
mainly Investment in fixed assets (net) (-€148,824) and Receivables within one year (-€106,304)
- Tangible fixed assets +€67,993
up €67,993 (+9.6%), from €706,794 to €774,787
of which Furniture and vehicles: +€56,405
- Tax, wage and social debts +€52,337
up €52,337 (+24.7%), from €211,672 to €264,008
of which Remuneration and social security: +€45,158
- Debts after one year +€28,634
up €28,634 (+5.9%), from €483,340 to €511,974
- Trade debts -€21,418
down €21,418 (-8.7%), from €246,774 to €225,356
- Short-term financial debts +€15,829
new in 2025: €15,829
- Staff costs +€344,859
up €344,859 (+25.6%), from €1.3m to €1.7m
- Gross operating margin +€242,310
up €242,310 (+15.1%), from €1.6m to €1.8m
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 | €1,081,549 | €1,162,179 | +€80,630 | +7.5% |
| Fixed assets | 21/28 | €717,366 | €785,779 | +€68,413 | +9.5% |
| Tangible fixed assets | 22/27 | €706,794 | €774,787 | +€67,993 | +9.6% |
| Land and buildings | 22 | €607,642 | €599,877 | -€7,765 | -1.3% |
| Plant, machinery and equipment | 23 | €93,184 | €112,538 | +€19,353 | +20.8% |
| Furniture and vehicles | 24 | €5,967 | €62,372 | +€56,405 | +945.2% |
| Financial fixed assets | 28 | €10,572 | €10,992 | +€420 | +4.0% |
| Current assets | 29/58 | €364,183 | €376,400 | +€12,217 | +3.4% |
| Stocks and contracts in progress | 3 | €46,814 | €39,032 | -€7,782 | -16.6% |
| Stocks | 30/36 | €46,814 | €39,032 | -€7,782 | -16.6% |
| Amounts receivable within one year | 40/41 | €63,046 | €169,351 | +€106,304 | +168.6% |
| Trade receivables | 40 | €63,046 | €162,247 | +€99,201 | +157.3% |
| Other amounts receivable | 41 | - | €7,103 | +€7,103 | |
| Cash at bank and in hand | 54/58 | €254,323 | €168,018 | -€86,305 | -33.9% |
| Total equity and liabilities | 10/49 | €1,081,549 | €1,162,179 | +€80,630 | +7.5% |
| Equity | 10/15 | €33,517 | €33,791 | +€274 | +0.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,233 | -€34,959 | +€274 | +0.8% |
| Amounts payable | 17/49 | €1,048,031 | €1,128,388 | +€80,357 | +7.7% |
| Amounts payable after more than one year | 17 | €483,340 | €511,974 | +€28,634 | +5.9% |
| Financial debts | 170/4 | €483,340 | €511,974 | +€28,634 | +5.9% |
| Amounts payable within one year | 42/48 | €564,691 | €616,414 | +€51,723 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €106,246 | €111,221 | +€4,975 | +4.7% |
| Financial debts | 43 | - | €15,829 | +€15,829 | |
| Credit institutions | 430/8 | - | €15,829 | +€15,829 | |
| Trade debts | 44 | €246,774 | €225,356 | -€21,418 | -8.7% |
| Suppliers | 440/4 | €246,774 | €225,356 | -€21,418 | -8.7% |
| Taxes, remuneration and social security | 45 | €211,672 | €264,008 | +€52,337 | +24.7% |
| Taxes | 450/3 | €49,422 | €56,600 | +€7,178 | +14.5% |
| Remuneration and social security | 454/9 | €162,250 | €207,408 | +€45,158 | +27.8% |
| Remuneration, social security and pensions | 62 | €1,348,566 | €1,693,425 | +€344,859 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,420 | €80,411 | +€15,991 | +24.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,585 | €0 | -€3,585 | -100.0% |
| Other operating charges | 640/8 | €1,956 | €8,261 | +€6,305 | +322.3% |
| Non-recurring operating charges | 66A | - | €661 | +€661 | |
| Gross operating margin | 9900 | €1,603,486 | €1,845,796 | +€242,310 | +15.1% |
| Operating profit (loss) | 9901 | €184,958 | €63,038 | -€121,920 | -65.9% |
| Financial income | 75/76B | €1,836 | €97 | -€1,739 | -94.7% |
| Recurring financial income | 75 | €1,836 | €97 | -€1,739 | -94.7% |
| Financial charges | 65/66B | €61,601 | €54,244 | -€7,358 | -11.9% |
| Recurring financial charges | 65 | €61,601 | €54,244 | -€7,358 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €125,193 | €8,891 | -€116,301 | -92.9% |
| Income taxes | 67/77 | €13,252 | €8,618 | -€4,635 | -35.0% |
| Profit (loss) for the period | 9904 | €111,940 | €274 | -€111,667 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €111,940 | €274 | -€111,667 | -99.8% |
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 11 October 2026 via checked.be.