A & C Properties S.A.: 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 & C Properties S.A.
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
€53,522
2024 · -€196,329+€249,851
Equity
€1.4m
2024 · €1.3m+€53,522
Cash
€572,018
2024 · €508,059+€63,959
Balance sheet total
€16.8m
2024 · €16.9m-€119,801
Largest movements
Assets
- Tangible fixed assets -€404,491
down €404,491 (-2.5%), from €15.9m to €15.5m
Equity and liabilities
- Debts after one year -€305,110
down €305,110 (-2.1%), from €14.6m to €14.3m
Income statement
- Gross operating margin +€433,450
up €433,450 (+22.0%), from €2.0m to €2.4m
- Other operating charges +€248,177
up €248,177 (+46.2%), from €537,729 to €785,906
- Financial charges -€147,131
down €147,131 (-18.2%), from €808,266 to €661,135
- Depreciation +€82,538
up €82,538 (+10.1%), from €816,991 to €899,529
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
-€196,329
Gross operating margin
+€433,450
Depreciation
-€82,538
Other operating charges
-€248,177
Financial income
-€14
Financial charges
+€147,131
Result 2025
€53,522
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
+€864,107
Investment
-€495,038
Financing
-€305,110
Cash 2024
€508,059
From operations (derived)
+€864,107
Net result for the year
+€53,522
Depreciation
+€899,529
Receivables within one year
-€109,549
Deferred charges and accrued income
-€111,183
Trade debts
+€47,151
Other debts
+€33,009
Accrued charges and deferred income
+€51,627
Investment (derived)
-€495,038
Investment in fixed assets (net)
-€495,038
Financing
-€305,110
Debts after one year
-€305,110
Cash 2025
€572,018
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,945,378 | €16,825,577 | -€119,801 | -0.7% |
| Fixed assets | 21/28 | €15,873,697 | €15,469,206 | -€404,491 | -2.5% |
| Tangible fixed assets | 22/27 | €15,873,697 | €15,469,206 | -€404,491 | -2.5% |
| Land and buildings | 22 | €15,873,697 | €15,469,206 | -€404,491 | -2.5% |
| Current assets | 29/58 | €1,071,681 | €1,356,371 | +€284,690 | +26.6% |
| Amounts receivable within one year | 40/41 | €253,621 | €363,170 | +€109,549 | +43.2% |
| Trade receivables | 40 | €252,096 | €363,170 | +€111,074 | +44.1% |
| Other amounts receivable | 41 | €1,525 | - | -€1,525 | |
| Cash at bank and in hand | 54/58 | €508,059 | €572,018 | +€63,959 | +12.6% |
| Deferred charges and accrued income | 490/1 | €310,000 | €421,183 | +€111,183 | +35.9% |
| Total equity and liabilities | 10/49 | €16,945,378 | €16,825,577 | -€119,801 | -0.7% |
| Equity | 10/15 | €1,306,962 | €1,360,484 | +€53,522 | +4.1% |
| Contributions | 10/11 | €10,264,516 | €10,264,516 | = | 0.0% |
| Capital | 10 | €10,263,727 | €10,263,727 | = | 0.0% |
| Issued capital | 100 | €10,263,727 | €10,263,727 | = | 0.0% |
| Contributions outside capital | 11 | €789 | €789 | = | 0.0% |
| Share premium | 1100/10 | €789 | €789 | = | 0.0% |
| Reserves | 13 | €220,000 | €220,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €220,000 | €220,000 | = | 0.0% |
| Legal reserve | 130 | €220,000 | €220,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,177,554 | -€9,124,032 | +€53,522 | +0.6% |
| Amounts payable | 17/49 | €15,638,416 | €15,465,093 | -€173,323 | -1.1% |
| Amounts payable after more than one year | 17 | €14,623,885 | €14,318,775 | -€305,110 | -2.1% |
| Financial debts | 170/4 | €14,623,885 | €14,318,775 | -€305,110 | -2.1% |
| Amounts payable within one year | 42/48 | €578,795 | €658,955 | +€80,160 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €375,000 | €375,000 | = | 0.0% |
| Trade debts | 44 | €175,395 | €222,547 | +€47,151 | +26.9% |
| Suppliers | 440/4 | €160,892 | €222,547 | +€61,654 | +38.3% |
| Bills of exchange payable | 441 | €14,503 | - | -€14,503 | |
| Other amounts payable | 47/48 | €28,400 | €61,409 | +€33,009 | +116% |
| Accrued charges and deferred income | 492/3 | €435,735 | €487,363 | +€51,627 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816,991 | €899,529 | +€82,538 | +10.1% |
| Other operating charges | 640/8 | €537,729 | €785,906 | +€248,177 | +46.2% |
| Gross operating margin | 9900 | €1,966,643 | €2,400,093 | +€433,450 | +22.0% |
| Operating profit (loss) | 9901 | €611,922 | €714,657 | +€102,735 | +16.8% |
| Financial income | 75/76B | €14 | €0 | -€14 | -99.9% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -99.9% |
| Financial charges | 65/66B | €808,266 | €661,135 | -€147,131 | -18.2% |
| Recurring financial charges | 65 | €808,266 | €661,135 | -€147,131 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | -€196,329 | €53,522 | +€249,851 | |
| Profit (loss) for the period | 9904 | -€196,329 | €53,522 | +€249,851 | |
| Profit (loss) for the period to be appropriated | 9905 | -€196,329 | €53,522 | +€249,851 |
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 30 October 2026 via checked.be.