ZWAKHOVEN: 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.
What changed
ZWAKHOVEN
NACE 47.300, Retail sale of automotive fuel
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€49,965
2024 · €14,098+€35,866
Equity
€471,009
2024 · €421,044+€49,965
Cash
€29,372
2024 · €33,235-€3,863
Balance sheet total
€770,716
2024 · €611,288+€159,427
Largest movements
Assets
- Receivables within one year +€102,745
up €102,745 (+42.6%), from €241,050 to €343,795
of which Trade receivables: +€56,942
- Tangible fixed assets +€60,546
up €60,546 (+18.0%), from €337,003 to €397,549
of which Furniture and vehicles: +€85,220
Equity and liabilities
- Debts after one year +€102,365
up €102,365 (+370%), from €27,644 to €130,009
- Reserves +€49,965
up €49,965 (+41.2%), from €121,409 to €171,373
of which Distributable reserves: +€55,365
- Trade debts +€26,945
up €26,945 (+42.1%), from €64,068 to €91,013
- Advances received -€16,676
down €16,676 (-100%), from €16,676 to €0
Income statement
- Staff costs -€39,733
down €39,733 (-92.1%), from €43,120 to €3,387
- Gross operating margin +€9,468
up €9,468 (+5.7%), from €166,480 to €175,949
- Depreciation +€7,494
up €7,494 (+9.0%), from €82,966 to €90,460
- Write-downs -€6,492
down €6,492 (-100%), from €6,492 to €0
- Financial income -€2,341
down €2,341 (-100%), from €2,341 to €0
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.
Result 2024
€14,098
Gross operating margin
+€9,468
Staff costs
+€39,733
Depreciation
-€7,494
Write-downs
+€6,492
Other operating charges
-€104
Financial income
-€2,341
Financial charges
-€2,276
Taxes
+€640
Deferred taxes and other
-€8,252
Result 2025
€49,965
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€41,963
Investment
-€151,006
Financing
+€105,180
Cash 2024
€33,235
From operations (derived)
+€41,963
Net result for the year
+€49,965
Depreciation
+€90,460
Receivables within one year
-€102,745
Provisions
-€1,800
Trade debts
+€26,945
Tax, wage and social debts
-€4,187
Advances received
-€16,676
Investment (derived)
-€151,006
Investment in fixed assets (net)
-€151,006
Financing
+€105,180
Debts after one year
+€102,365
Current portion of long-term debt
+€2,815
Cash 2025
€29,372
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €611,288 | €770,716 | +€159,427 | +26.1% |
| Fixed assets | 21/28 | €337,003 | €397,549 | +€60,546 | +18.0% |
| Tangible fixed assets | 22/27 | €337,003 | €397,549 | +€60,546 | +18.0% |
| Land and buildings | 22 | €212,488 | €193,365 | -€19,124 | -9.0% |
| Plant, machinery and equipment | 23 | €14,172 | €8,622 | -€5,550 | -39.2% |
| Furniture and vehicles | 24 | €110,342 | €195,562 | +€85,220 | +77.2% |
| Current assets | 29/58 | €274,285 | €373,167 | +€98,881 | +36.1% |
| Amounts receivable within one year | 40/41 | €241,050 | €343,795 | +€102,745 | +42.6% |
| Trade receivables | 40 | €207,641 | €264,583 | +€56,942 | +27.4% |
| Other amounts receivable | 41 | €33,410 | €79,212 | +€45,803 | +137% |
| Cash at bank and in hand | 54/58 | €33,235 | €29,372 | -€3,863 | -11.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €611,288 | €770,716 | +€159,427 | +26.1% |
| Equity | 10/15 | €421,044 | €471,009 | +€49,965 | +11.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €121,409 | €171,373 | +€49,965 | +41.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,190 | €66,790 | -€5,400 | -7.5% |
| Distributable reserves | 133 | €43,019 | €98,383 | +€55,365 | +129% |
| Profit (loss) carried forward | 14 | €237,635 | €237,635 | = | 0.0% |
| Provisions and deferred taxes | 16 | €24,594 | €22,794 | -€1,800 | -7.3% |
| Provisions for liabilities and charges | 160/5 | €10,318 | €10,318 | = | 0.0% |
| Pensions and similar obligations | 160 | €10,318 | €10,318 | = | 0.0% |
| Deferred taxes | 168 | €14,277 | €12,477 | -€1,800 | -12.6% |
| Amounts payable | 17/49 | €165,650 | €276,912 | +€111,263 | +67.2% |
| Amounts payable after more than one year | 17 | €27,644 | €130,009 | +€102,365 | +370% |
| Financial debts | 170/4 | €27,644 | €130,009 | +€102,365 | +370% |
| Amounts payable within one year | 42/48 | €138,006 | €146,904 | +€8,898 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €37,637 | €40,452 | +€2,815 | +7.5% |
| Trade debts | 44 | €64,068 | €91,013 | +€26,945 | +42.1% |
| Suppliers | 440/4 | €64,068 | €91,013 | +€26,945 | +42.1% |
| Advances received on contracts in progress | 46 | €16,676 | €0 | -€16,676 | -100% |
| Taxes, remuneration and social security | 45 | €19,626 | €15,439 | -€4,187 | -21.3% |
| Taxes | 450/3 | €12,078 | €15,439 | +€3,360 | +27.8% |
| Remuneration and social security | 454/9 | €7,547 | €0 | -€7,547 | -100% |
| Non-recurring operating income | 76A | - | €35,000 | +€35,000 | |
| Remuneration, social security and pensions | 62 | €43,120 | €3,387 | -€39,733 | -92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,966 | €90,460 | +€7,494 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,492 | €0 | -€6,492 | -100% |
| Other operating charges | 640/8 | €3,215 | €3,319 | +€104 | +3.2% |
| Gross operating margin | 9900 | €166,480 | €175,949 | +€9,468 | +5.7% |
| Operating profit (loss) | 9901 | €30,687 | €78,783 | +€48,096 | +157% |
| Financial income | 75/76B | €2,341 | €0 | -€2,341 | -100% |
| Recurring financial income | 75 | €2,341 | €0 | -€2,341 | -100% |
| Financial charges | 65/66B | €5,403 | €7,680 | +€2,276 | +42.1% |
| Recurring financial charges | 65 | €5,403 | €7,680 | +€2,276 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €27,625 | €71,103 | +€43,478 | +157% |
| Transfer from deferred taxes | 780 | €10,052 | €10,550 | +€498 | +5.0% |
| Transfer to deferred taxes | 680 | - | €8,750 | +€8,750 | |
| Income taxes | 67/77 | €23,578 | €22,939 | -€640 | -2.7% |
| Profit (loss) for the period | 9904 | €14,098 | €49,965 | +€35,866 | +254% |
| Transfer from tax-exempt reserves | 789 | €28,920 | €31,650 | +€2,730 | +9.4% |
| Transfer to tax-exempt reserves | 689 | - | €26,250 | +€26,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,019 | €55,365 | +€12,346 | +28.7% |
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 28 October 2026 via checked.be.