ZuidtrAnt: 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.
ZuidtrAnt
Largest movements
- Cash -€423,421
down €423,421 (-70.5%), from €600,477 to €177,056
mainly Investment in fixed assets (net) (-€655,918) and Current investments (-€280,000)
- Financial fixed assets +€311,390
up €311,390 (+203%), from €153,610 to €465,000
- Current investments +€280,000
up €280,000, from €0 to €280,000
- Tangible fixed assets +€241,892
up €241,892 (+19.6%), from €1.2m to €1.5m
of which Plant, machinery and equipment: +€242,205
- Receivables within one year -€174,824
down €174,824 (-17.2%), from €1.0m to €843,830
of which Other amounts receivable: -€194,593
- Contributions +€292,200
up €292,200 (+18.9%), from €1.5m to €1.8m
- Debts after one year +€241,107
new in 2025: €241,107
- Other debts -€237,496
down €237,496 (-30.5%), from €777,423 to €539,927
- Accrued charges and deferred income -€79,154
down €79,154 (-20.3%), from €390,176 to €311,021
- Investment grants +€55,492
up €55,492 (+120%), from €46,078 to €101,570
- Staff costs -€24,014
down €24,014 (-7.8%), from €309,661 to €285,647
- Depreciation +€14,334
up €14,334 (+17.5%), from €81,998 to €96,332
- Gross operating margin -€14,039
down €14,039 (-3.5%), from €403,534 to €389,496
- Other operating charges +€6,350
up €6,350 (+371%), from €1,710 to €8,060
- Financial income +€5,360
up €5,360 (+79.3%), from €6,762 to €12,122
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 | €3,044,208 | €3,299,278 | +€255,069 | +8.4% |
| Fixed assets | 21/28 | €1,386,272 | €1,945,859 | +€559,587 | +40.4% |
| Intangible fixed assets | 21 | - | €6,304 | +€6,304 | |
| Tangible fixed assets | 22/27 | €1,232,662 | €1,474,554 | +€241,892 | +19.6% |
| Plant, machinery and equipment | 23 | €1,221,514 | €1,463,719 | +€242,205 | +19.8% |
| Furniture and vehicles | 24 | €11,148 | €10,836 | -€313 | -2.8% |
| Financial fixed assets | 28 | €153,610 | €465,000 | +€311,390 | +203% |
| Current assets | 29/58 | €1,657,936 | €1,353,419 | -€304,517 | -18.4% |
| Amounts receivable after more than one year | 29 | €32,000 | €40,000 | +€8,000 | +25.0% |
| Other amounts receivable | 291 | €32,000 | €40,000 | +€8,000 | +25.0% |
| Amounts receivable within one year | 40/41 | €1,018,653 | €843,830 | -€174,824 | -17.2% |
| Trade receivables | 40 | €95,871 | €115,641 | +€19,770 | +20.6% |
| Other amounts receivable | 41 | €922,783 | €728,189 | -€194,593 | -21.1% |
| Current investments | 50/53 | €0 | €280,000 | +€280,000 | |
| Cash at bank and in hand | 54/58 | €600,477 | €177,056 | -€423,421 | -70.5% |
| Deferred charges and accrued income | 490/1 | €6,806 | €12,533 | +€5,728 | +84.2% |
| Total equity and liabilities | 10/49 | €3,044,208 | €3,299,278 | +€255,069 | +8.4% |
| Equity | 10/15 | €1,644,081 | €1,991,303 | +€347,223 | +21.1% |
| Contributions | 10/11 | €1,546,400 | €1,838,600 | +€292,200 | +18.9% |
| Reserves | 13 | €51,603 | €51,133 | -€469 | -0.9% |
| Distributable reserves | 133 | €51,603 | €51,133 | -€469 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €46,078 | €101,570 | +€55,492 | +120% |
| Amounts payable | 17/49 | €1,400,128 | €1,307,974 | -€92,153 | -6.6% |
| Amounts payable after more than one year | 17 | - | €241,107 | +€241,107 | |
| Financial debts | 170/4 | - | €241,107 | +€241,107 | |
| Amounts payable within one year | 42/48 | €1,009,952 | €755,846 | -€254,106 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €119,695 | +€19,695 | +19.7% |
| Trade debts | 44 | €38,123 | €38,788 | +€665 | +1.7% |
| Suppliers | 440/4 | €38,123 | €38,788 | +€665 | +1.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €94,406 | €57,435 | -€36,971 | -39.2% |
| Taxes | 450/3 | €24,483 | €18,541 | -€5,942 | -24.3% |
| Remuneration and social security | 454/9 | €69,924 | €38,894 | -€31,030 | -44.4% |
| Other amounts payable | 47/48 | €777,423 | €539,927 | -€237,496 | -30.5% |
| Accrued charges and deferred income | 492/3 | €390,176 | €311,021 | -€79,154 | -20.3% |
| Remuneration, social security and pensions | 62 | €309,661 | €285,647 | -€24,014 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,998 | €96,332 | +€14,334 | +17.5% |
| Other operating charges | 640/8 | €1,710 | €8,060 | +€6,350 | +371% |
| Gross operating margin | 9900 | €403,534 | €389,496 | -€14,039 | -3.5% |
| Operating profit (loss) | 9901 | €10,166 | -€543 | -€10,709 | |
| Financial income | 75/76B | €6,762 | €12,122 | +€5,360 | +79.3% |
| Recurring financial income | 75 | €6,762 | €12,122 | +€5,360 | +79.3% |
| Financial charges | 65/66B | €8,064 | €12,048 | +€3,984 | +49.4% |
| Recurring financial charges | 65 | €7,564 | €12,048 | +€4,484 | +59.3% |
| Non-recurring financial charges | 66B | €500 | €0 | -€500 | -100% |
| Profit (loss) for the period before taxes | 9903 | €8,863 | -€469 | -€9,333 | |
| Profit (loss) for the period | 9904 | €8,863 | -€469 | -€9,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,863 | -€469 | -€9,333 |
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 22 October 2026 via checked.be.