ZUNE CONSTRUCTION: what changed
ZUNE CONSTRUCTION
Largest movements
- Financial fixed assets -€1.1m
down €1.1m (-97.9%), from €1.2m to €24,703
- Receivables within one year +€482,805
up €482,805 (+233%), from €206,841 to €689,646
of which Trade receivables: +€484,535
- Tangible fixed assets +€330,651
up €330,651 (+33.0%), from €1.0m to €1.3m
of which Land and buildings: +€261,589
- Cash +€251,409
up €251,409 (+301%), from €83,564 to €334,972
mainly Investment in fixed assets (net) (+€619,243) and Stocks and contracts (+€219,966)
- Stocks and contracts -€219,966
down €219,966 (-67.5%), from €325,951 to €105,985
- Debts after one year -€579,496
down €579,496 (-43.6%), from €1.3m to €749,010
- Short-term financial debts +€125,000
up €125,000 (+50.0%), from €250,000 to €375,000
- Tax, wage and social debts +€76,697
up €76,697 (+66.0%), from €116,134 to €192,831
of which Remuneration and social security: +€50,984
- Current portion of long-term debt +€47,830
up €47,830 (+24.7%), from €193,604 to €241,434
- Trade debts +€31,194
up €31,194 (+7.0%), from €445,230 to €476,424
- Gross operating margin +€789,169
up €789,169 (+63.0%), from €1.3m to €2.0m
- Staff costs +€692,065
up €692,065 (+65.8%), from €1.1m to €1.7m
- Depreciation +€64,756
up €64,756 (+57.1%), from €113,399 to €178,155
- Other operating charges +€24,551
up €24,551 (+148%), from €16,546 to €41,096
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,865,348 | €2,570,105 | -€295,243 | -10.3% |
| Fixed assets | 21/28 | €2,175,468 | €1,378,071 | -€797,397 | -36.7% |
| Intangible fixed assets | 21 | - | €21,475 | +€21,475 | |
| Tangible fixed assets | 22/27 | €1,001,242 | €1,331,893 | +€330,651 | +33.0% |
| Land and buildings | 22 | €431,562 | €693,150 | +€261,589 | +60.6% |
| Plant, machinery and equipment | 23 | €130,248 | €101,652 | -€28,596 | -22.0% |
| Furniture and vehicles | 24 | €137,930 | €212,159 | +€74,229 | +53.8% |
| Leasing and similar rights | 25 | €301,502 | €324,932 | +€23,429 | +7.8% |
| Financial fixed assets | 28 | €1,174,226 | €24,703 | -€1.1m | -97.9% |
| Current assets | 29/58 | €689,880 | €1,192,034 | +€502,154 | +72.8% |
| Stocks and contracts in progress | 3 | €325,951 | €105,985 | -€219,966 | -67.5% |
| Stocks | 30/36 | €325,951 | €105,985 | -€219,966 | -67.5% |
| Amounts receivable within one year | 40/41 | €206,841 | €689,646 | +€482,805 | +233% |
| Trade receivables | 40 | €204,994 | €689,529 | +€484,535 | +236% |
| Other amounts receivable | 41 | €1,847 | €117 | -€1,730 | -93.7% |
| Current investments | 50/53 | - | €0 | +€0 | |
| Cash at bank and in hand | 54/58 | €83,564 | €334,972 | +€251,409 | +301% |
| Deferred charges and accrued income | 490/1 | €73,525 | €61,431 | -€12,094 | -16.4% |
| Total equity and liabilities | 10/49 | €2,865,348 | €2,570,105 | -€295,243 | -10.3% |
| Equity | 10/15 | €493,349 | €477,347 | -€16,002 | -3.2% |
| Contributions | 10/11 | €68,750 | €68,750 | = | 0.0% |
| Reserves | 13 | €424,599 | €408,597 | -€16,002 | -3.8% |
| Tax-exempt reserves | 132 | €51,002 | €51,002 | = | 0.0% |
| Distributable reserves | 133 | €373,597 | €357,595 | -€16,002 | -4.3% |
| Amounts payable | 17/49 | €2,371,999 | €2,092,758 | -€279,241 | -11.8% |
| Amounts payable after more than one year | 17 | €1,328,506 | €749,010 | -€579,496 | -43.6% |
| Financial debts | 170/4 | €1,328,506 | €749,010 | -€579,496 | -43.6% |
| Amounts payable within one year | 42/48 | €1,042,225 | €1,343,397 | +€301,172 | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €193,604 | €241,434 | +€47,830 | +24.7% |
| Financial debts | 43 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Credit institutions | 430/8 | €250,000 | €375,000 | +€125,000 | +50.0% |
| Trade debts | 44 | €445,230 | €476,424 | +€31,194 | +7.0% |
| Suppliers | 440/4 | €445,230 | €476,424 | +€31,194 | +7.0% |
| Taxes, remuneration and social security | 45 | €116,134 | €192,831 | +€76,697 | +66.0% |
| Taxes | 450/3 | €25,684 | €51,396 | +€25,712 | +100% |
| Remuneration and social security | 454/9 | €90,450 | €141,435 | +€50,984 | +56.4% |
| Other amounts payable | 47/48 | €37,257 | €57,708 | +€20,451 | +54.9% |
| Accrued charges and deferred income | 492/3 | €1,268 | €351 | -€916 | -72.3% |
| Remuneration, social security and pensions | 62 | €1,051,717 | €1,743,782 | +€692,065 | +65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,399 | €178,155 | +€64,756 | +57.1% |
| Other operating charges | 640/8 | €16,546 | €41,096 | +€24,551 | +148% |
| Gross operating margin | 9900 | €1,253,368 | €2,042,538 | +€789,169 | +63.0% |
| Operating profit (loss) | 9901 | €71,707 | €79,504 | +€7,798 | +10.9% |
| Financial income | 75/76B | €21,385 | €32,971 | +€11,585 | +54.2% |
| Recurring financial income | 75 | €21,385 | €32,971 | +€11,585 | +54.2% |
| Financial charges | 65/66B | €52,196 | €58,885 | +€6,689 | +12.8% |
| Recurring financial charges | 65 | €52,196 | €58,885 | +€6,689 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €40,896 | €53,590 | +€12,694 | +31.0% |
| Income taxes | 67/77 | €15,897 | €22,992 | +€7,095 | +44.6% |
| Profit (loss) for the period | 9904 | €24,999 | €30,598 | +€5,599 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,999 | €30,598 | +€5,599 | +22.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.