A.B.K.: 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
A.B.K.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€364,520
2024 · -€458,427+€93,907
Equity
-€2.0m
2024 · -€1.7m-€364,520
Cash
€17,921
2024 · €20,869-€2,948
Balance sheet total
€16.7m
2024 · €17.9m-€1.2m
Largest movements
Assets
- Tangible fixed assets -€763,840
down €763,840 (-5.4%), from €14.2m to €13.5m
of which Land and buildings: -€544,209
- Stocks and contracts -€361,211
down €361,211 (-24.2%), from €1.5m to €1.1m
Equity and liabilities
- Debts after one year -€580,003
down €580,003 (-4.1%), from €14.1m to €13.5m
of which Financial debts: -€579,653
- Profit (loss) carried forward -€364,520
down €364,520 (-6.3%), from -€5.8m to -€6.2m
- Other debts -€278,013
down €278,013 (-5.7%), from €4.9m to €4.6m
Income statement
- Gross operating margin +€280,143
up €280,143 (+58.6%), from €478,092 to €758,234
- Financial charges +€181,679
up €181,679 (+257%), from €70,779 to €252,458
- Other operating charges -€86,495
down €86,495 (-56.7%), from €152,550 to €66,055
- Financial income -€67,718
down €67,718 (-29.4%), from €230,178 to €162,459
- Depreciation +€44,122
up €44,122 (+6.9%), from €640,511 to €684,633
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
-€458,427
Gross operating margin
+€280,143
Staff costs
+€20,109
Depreciation
-€44,122
Other operating charges
+€86,495
Financial income
-€67,718
Financial charges
-€181,679
Taxes
+€680
Result 2025
-€364,520
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
+€404,839
Investment
+€73,767
Financing
-€481,554
Cash 2024
€20,869
From operations (derived)
+€404,839
Net result for the year
-€364,520
Depreciation
+€684,633
Stocks and contracts
+€361,211
Receivables within one year
+€29,071
Deferred charges and accrued income
+€2,433
Trade debts
-€30,532
Tax, wage and social debts
+€5,509
Other debts
-€278,013
Accrued charges and deferred income
-€4,954
Investment (derived)
+€73,767
Investment in fixed assets (net)
+€73,767
Financing
-€481,554
Debts after one year
-€580,003
Current portion of long-term debt
+€98,449
Cash 2025
€17,921
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,881,346 | €16,727,282 | -€1.2m | -6.5% |
| Fixed assets | 21/28 | €14,239,750 | €13,481,350 | -€758,400 | -5.3% |
| Intangible fixed assets | 21 | €24,188 | €29,542 | +€5,355 | +22.1% |
| Tangible fixed assets | 22/27 | €14,215,162 | €13,451,322 | -€763,840 | -5.4% |
| Land and buildings | 22 | €12,042,619 | €11,498,411 | -€544,209 | -4.5% |
| Plant, machinery and equipment | 23 | €42,279 | €27,520 | -€14,758 | -34.9% |
| Furniture and vehicles | 24 | €154,031 | €67,328 | -€86,703 | -56.3% |
| Leasing and similar rights | 25 | €1,976,233 | €1,858,063 | -€118,170 | -6.0% |
| Financial fixed assets | 28 | €400 | €485 | +€85 | +21.3% |
| Current assets | 29/58 | €3,641,595 | €3,245,932 | -€395,664 | -10.9% |
| Stocks and contracts in progress | 3 | €1,492,215 | €1,131,003 | -€361,211 | -24.2% |
| Stocks | 30/36 | €1,492,215 | €1,131,003 | -€361,211 | -24.2% |
| Amounts receivable within one year | 40/41 | €2,097,771 | €2,068,700 | -€29,071 | -1.4% |
| Trade receivables | 40 | €39,192 | €10,302 | -€28,890 | -73.7% |
| Other amounts receivable | 41 | €2,058,579 | €2,058,398 | -€181 | 0.0% |
| Cash at bank and in hand | 54/58 | €20,869 | €17,921 | -€2,948 | -14.1% |
| Deferred charges and accrued income | 490/1 | €30,741 | €28,308 | -€2,433 | -7.9% |
| Total equity and liabilities | 10/49 | €17,881,346 | €16,727,282 | -€1.2m | -6.5% |
| Equity | 10/15 | -€1,682,359 | -€2,046,879 | -€364,520 | -21.7% |
| Contributions | 10/11 | €4,100,036 | €4,100,036 | = | 0.0% |
| Capital | 10 | €4,100,036 | €4,100,036 | = | 0.0% |
| Issued capital | 100 | €4,100,036 | €4,100,036 | = | 0.0% |
| Reserves | 13 | €48,795 | €48,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €42,598 | €42,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,831,190 | -€6,195,710 | -€364,520 | -6.3% |
| Amounts payable | 17/49 | €19,563,705 | €18,774,160 | -€789,544 | -4.0% |
| Amounts payable after more than one year | 17 | €14,079,397 | €13,499,394 | -€580,003 | -4.1% |
| Financial debts | 170/4 | €14,079,047 | €13,499,394 | -€579,653 | -4.1% |
| Other amounts payable | 178/9 | €350 | - | -€350 | |
| Amounts payable within one year | 42/48 | €5,479,354 | €5,274,766 | -€204,588 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €481,204 | €579,653 | +€98,449 | +20.5% |
| Trade debts | 44 | €58,065 | €27,532 | -€30,532 | -52.6% |
| Suppliers | 440/4 | €58,065 | €27,532 | -€30,532 | -52.6% |
| Taxes, remuneration and social security | 45 | €49,857 | €55,366 | +€5,509 | +11.0% |
| Taxes | 450/3 | €730 | €10,321 | +€9,591 | +1,314% |
| Remuneration and social security | 454/9 | €49,127 | €45,045 | -€4,082 | -8.3% |
| Other amounts payable | 47/48 | €4,890,228 | €4,612,215 | -€278,013 | -5.7% |
| Accrued charges and deferred income | 492/3 | €4,954 | - | -€4,954 | |
| Remuneration, social security and pensions | 62 | €301,858 | €281,749 | -€20,109 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €640,511 | €684,633 | +€44,122 | +6.9% |
| Other operating charges | 640/8 | €152,550 | €66,055 | -€86,495 | -56.7% |
| Gross operating margin | 9900 | €478,092 | €758,234 | +€280,143 | +58.6% |
| Operating profit (loss) | 9901 | -€616,827 | -€274,203 | +€342,624 | +55.5% |
| Financial income | 75/76B | €230,178 | €162,459 | -€67,718 | -29.4% |
| Recurring financial income | 75 | €230,178 | €162,459 | -€67,718 | -29.4% |
| Financial charges | 65/66B | €70,779 | €252,458 | +€181,679 | +257% |
| Recurring financial charges | 65 | €70,779 | €252,458 | +€181,679 | +257% |
| Profit (loss) for the period before taxes | 9903 | -€457,429 | -€364,202 | +€93,227 | +20.4% |
| Income taxes | 67/77 | €998 | €318 | -€680 | -68.1% |
| Profit (loss) for the period | 9904 | -€458,427 | -€364,520 | +€93,907 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€458,427 | -€364,520 | +€93,907 | +20.5% |
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 24 October 2026 via checked.be.