1105 real estate: 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
1105 real estate
NACE 73.110, Advertising agencies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€151,795
2024 · -€124,122-€27,673
Equity
-€1.5m
2024 · -€1.4m-€151,795
Cash
€46,508
2024 · €70,706-€24,198
Balance sheet total
€4.8m
2024 · €5.1m-€237,932
Largest movements
Assets
- Tangible fixed assets -€217,750
down €217,750 (-4.4%), from €4.9m to €4.7m
of which Land and buildings: -€163,805
Equity and liabilities
- Debts after one year -€203,006
down €203,006 (-3.3%), from €6.2m to €6.0m
- Profit (loss) carried forward -€151,795
down €151,795 (-10.4%), from -€1.5m to -€1.6m
- Other debts +€60,000
up €60,000 (+7,700%), from €779 to €60,779
Income statement
- Staff costs +€13,443
up €13,443 (+9.5%), from €142,105 to €155,547
- Gross operating margin -€12,948
down €12,948 (-2.4%), from €532,242 to €519,294
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
-€124,122
Gross operating margin
-€12,948
Staff costs
-€13,443
Depreciation
-€3,196
Other operating charges
-€920
Financial income
-€39
Financial charges
+€3,525
Taxes
-€652
Result 2025
-€151,795
raises the resultlowers the result
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
+€235,071
Investment
-€61,131
Financing
-€198,138
Cash 2024
€70,706
From operations (derived)
+€235,071
Net result for the year
-€151,795
Depreciation
+€278,881
Receivables within one year
-€10,119
Deferred charges and accrued income
+€6,103
Trade debts
+€29,902
Tax, wage and social debts
+€22,098
Other debts
+€60,000
Investment (derived)
-€61,131
Investment in fixed assets (net)
-€61,131
Financing
-€198,138
Debts after one year
-€203,006
Current portion of long-term debt
+€4,869
Cash 2025
€46,508
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,060,950 | €4,823,018 | -€237,932 | -4.7% |
| Fixed assets | 21/28 | €4,905,597 | €4,687,847 | -€217,750 | -4.4% |
| Tangible fixed assets | 22/27 | €4,905,231 | €4,687,481 | -€217,750 | -4.4% |
| Land and buildings | 22 | €4,422,739 | €4,258,934 | -€163,805 | -3.7% |
| Plant, machinery and equipment | 23 | €479,935 | €423,347 | -€56,589 | -11.8% |
| Furniture and vehicles | 24 | €2,557 | €5,200 | +€2,644 | +103% |
| Financial fixed assets | 28 | €366 | €366 | = | 0.0% |
| Current assets | 29/58 | €155,353 | €135,171 | -€20,182 | -13.0% |
| Amounts receivable within one year | 40/41 | €65,855 | €75,973 | +€10,119 | +15.4% |
| Trade receivables | 40 | €65,855 | €74,088 | +€8,233 | +12.5% |
| Other amounts receivable | 41 | - | €1,885 | +€1,885 | |
| Cash at bank and in hand | 54/58 | €70,706 | €46,508 | -€24,198 | -34.2% |
| Deferred charges and accrued income | 490/1 | €18,793 | €12,690 | -€6,103 | -32.5% |
| Total equity and liabilities | 10/49 | €5,060,950 | €4,823,018 | -€237,932 | -4.7% |
| Equity | 10/15 | -€1,391,811 | -€1,543,606 | -€151,795 | -10.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,943 | €3,943 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,242 | €1,242 | = | 0.0% |
| Legal reserve | 130 | €1,242 | €1,242 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,701 | €2,701 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,457,254 | -€1,609,049 | -€151,795 | -10.4% |
| Amounts payable | 17/49 | €6,452,761 | €6,366,624 | -€86,138 | -1.3% |
| Amounts payable after more than one year | 17 | €6,166,502 | €5,963,496 | -€203,006 | -3.3% |
| Financial debts | 170/4 | €6,166,502 | €5,963,496 | -€203,006 | -3.3% |
| Amounts payable within one year | 42/48 | €286,259 | €403,128 | +€116,868 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €198,138 | €203,006 | +€4,869 | +2.5% |
| Trade debts | 44 | €63,607 | €93,509 | +€29,902 | +47.0% |
| Suppliers | 440/4 | €63,607 | €93,509 | +€29,902 | +47.0% |
| Taxes, remuneration and social security | 45 | €23,736 | €45,833 | +€22,098 | +93.1% |
| Taxes | 450/3 | €11,361 | €32,680 | +€21,320 | +188% |
| Remuneration and social security | 454/9 | €12,375 | €13,153 | +€778 | +6.3% |
| Other amounts payable | 47/48 | €779 | €60,779 | +€60,000 | +7,700% |
| Non-recurring operating income | 76A | €4,600 | €0 | -€4,600 | -100% |
| Remuneration, social security and pensions | 62 | €142,105 | €155,547 | +€13,443 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,685 | €278,881 | +€3,196 | +1.2% |
| Other operating charges | 640/8 | €20,459 | €21,380 | +€920 | +4.5% |
| Gross operating margin | 9900 | €532,242 | €519,294 | -€12,948 | -2.4% |
| Operating profit (loss) | 9901 | €93,993 | €63,486 | -€30,506 | -32.5% |
| Financial income | 75/76B | €39 | €0 | -€39 | -100% |
| Recurring financial income | 75 | €39 | €0 | -€39 | -100% |
| Financial charges | 65/66B | €218,506 | €214,981 | -€3,525 | -1.6% |
| Recurring financial charges | 65 | €218,506 | €214,981 | -€3,525 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€124,474 | -€151,494 | -€27,021 | -21.7% |
| Income taxes | 67/77 | -€352 | €300 | +€652 | |
| Profit (loss) for the period | 9904 | -€124,122 | -€151,795 | -€27,673 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,122 | -€151,795 | -€27,673 | -22.3% |
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.