3REAL: 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.
3REAL
Largest movements
- Current investments -€157,735
down €157,735 (-59.5%), from €265,246 to €107,511
- Tangible fixed assets +€104,920
up €104,920 (+15.6%), from €673,750 to €778,669
of which Land and buildings: +€111,437
- Cash -€103,088
down €103,088 (-64.3%), from €160,320 to €57,231
mainly Investment in fixed assets (net) (-€151,472) and Net result for the year (-€78,432)
- Profit (loss) carried forward -€78,432
down €78,432 (-13.3%), from €590,574 to €512,142
- Gross operating margin -€15,200
down €15,200 (-33.0%), from -€46,113 to -€61,312
- Financial income -€8,948
down €8,948 (-30.0%), from €29,849 to €20,901
- Depreciation +€5,989
up €5,989 (+21.5%), from €27,887 to €33,876
- Other operating charges -€2,326
down €2,326 (-40.0%), from €5,807 to €3,481
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 | €5,987,077 | €5,859,170 | -€127,906 | -2.1% |
| Fixed assets | 21/28 | €5,533,188 | €5,650,784 | +€117,596 | +2.1% |
| Tangible fixed assets | 22/27 | €673,750 | €778,669 | +€104,920 | +15.6% |
| Land and buildings | 22 | €666,245 | €777,682 | +€111,437 | +16.7% |
| Plant, machinery and equipment | 23 | €777 | €687 | -€91 | -11.7% |
| Furniture and vehicles | 24 | €6,728 | €301 | -€6,427 | -95.5% |
| Financial fixed assets | 28 | €4,859,438 | €4,872,114 | +€12,676 | +0.3% |
| Current assets | 29/58 | €453,888 | €208,387 | -€245,502 | -54.1% |
| Amounts receivable within one year | 40/41 | €27,502 | €43,000 | +€15,498 | +56.4% |
| Trade receivables | 40 | €11,542 | €9,739 | -€1,803 | -15.6% |
| Other amounts receivable | 41 | €15,960 | €33,262 | +€17,301 | +108% |
| Current investments | 50/53 | €265,246 | €107,511 | -€157,735 | -59.5% |
| Cash at bank and in hand | 54/58 | €160,320 | €57,231 | -€103,088 | -64.3% |
| Deferred charges and accrued income | 490/1 | €820 | €644 | -€176 | -21.5% |
| Total equity and liabilities | 10/49 | €5,987,077 | €5,859,170 | -€127,906 | -2.1% |
| Equity | 10/15 | €5,933,861 | €5,855,429 | -€78,432 | -1.3% |
| Contributions | 10/11 | €4,621,921 | €4,621,921 | = | 0.0% |
| Capital | 10 | €4,621,921 | €4,621,921 | = | 0.0% |
| Issued capital | 100 | €4,621,921 | €4,621,921 | = | 0.0% |
| Reserves | 13 | €721,366 | €721,366 | = | 0.0% |
| Non-distributable reserves | 130/1 | €71,366 | €71,366 | = | 0.0% |
| Legal reserve | 130 | €71,366 | €71,366 | = | 0.0% |
| Distributable reserves | 133 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €590,574 | €512,142 | -€78,432 | -13.3% |
| Amounts payable | 17/49 | €53,216 | €3,742 | -€49,474 | -93.0% |
| Amounts payable within one year | 42/48 | €50,716 | €2,042 | -€48,674 | -96.0% |
| Financial debts | 43 | €459 | €445 | -€14 | -3.0% |
| Credit institutions | 430/8 | €459 | €445 | -€14 | -3.0% |
| Trade debts | 44 | €99 | €1,579 | +€1,480 | +1,488% |
| Suppliers | 440/4 | €99 | €1,579 | +€1,480 | +1,488% |
| Taxes, remuneration and social security | 45 | €50,157 | €17 | -€50,140 | -100.0% |
| Taxes | 450/3 | €50,157 | €17 | -€50,140 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | €1,700 | -€800 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,887 | €33,876 | +€5,989 | +21.5% |
| Other operating charges | 640/8 | €5,807 | €3,481 | -€2,326 | -40.0% |
| Gross operating margin | 9900 | -€46,113 | -€61,312 | -€15,200 | -33.0% |
| Operating profit (loss) | 9901 | -€79,807 | -€98,670 | -€18,863 | -23.6% |
| Financial income | 75/76B | €29,849 | €20,901 | -€8,948 | -30.0% |
| Recurring financial income | 75 | €29,849 | €20,901 | -€8,948 | -30.0% |
| Financial charges | 65/66B | €200 | €316 | +€116 | +57.7% |
| Recurring financial charges | 65 | €200 | €316 | +€116 | +57.7% |
| Profit (loss) for the period before taxes | 9903 | -€50,158 | -€78,085 | -€27,927 | -55.7% |
| Income taxes | 67/77 | €222 | €347 | +€126 | +56.6% |
| Profit (loss) for the period | 9904 | -€50,380 | -€78,432 | -€28,052 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,380 | -€78,432 | -€28,052 | -55.7% |
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 14 October 2026 via checked.be.