ALIZé: 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
ALIZé
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€121,843
2024 · €93,794+€28,049
Equity
€981,475
2024 · €859,631+€121,843
Cash
€145,220
2024 · €146,416-€1,196
Balance sheet total
€4.1m
2024 · €4.2m-€149,681
Largest movements
Assets
- Tangible fixed assets -€149,665
down €149,665 (-5.1%), from €3.0m to €2.8m
of which Land and buildings: -€128,889
Equity and liabilities
- Debts after one year -€317,851
down €317,851 (-11.9%), from €2.7m to €2.4m
- Reserves +€144,110
up €144,110 (+22.0%), from €655,783 to €799,893
of which Distributable reserves: +€148,945
- Tax, wage and social debts +€49,323
up €49,323 (+360.4%), from €13,685 to €63,008
of which Taxes: +€48,759
Income statement
- Financial charges -€7,106
down €7,106 (-12.2%), from €58,168 to €51,063
- Other operating charges +€5,105
up €5,105 (+8.5%), from €60,191 to €65,297
- Taxes +€4,732
up €4,732 (+7.1%), from €66,284 to €71,016
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
€93,794
Gross operating margin
+€1,535
Staff costs
-€987
Depreciation
+€3,466
Other operating charges
-€5,105
Financial income
+€4,457
Financial charges
+€7,106
Taxes
-€4,732
Deferred taxes and other
+€22,310
Result 2025
€121,843
Cash bridge derived
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
+€325,131
Investment
€0
Financing
-€326,327
Cash 2024
€146,416
From operations (derived)
+€325,131
Net result for the year
+€121,843
Depreciation
+€149,665
Receivables within one year
-€1,386
Deferred charges and accrued income
+€206
Trade debts
+€8,080
Tax, wage and social debts
+€49,323
Other debts
-€2,600
Financing
-€326,327
Debts after one year
-€317,851
Current portion of long-term debt
-€8,476
Cash 2025
€145,220
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,216,759 | €4,067,078 | -€149,681 | -3.5% |
| Fixed assets | 21/28 | €3,155,895 | €3,006,229 | -€149,665 | -4.7% |
| Tangible fixed assets | 22/27 | €2,954,695 | €2,805,029 | -€149,665 | -5.1% |
| Land and buildings | 22 | €2,893,961 | €2,765,072 | -€128,889 | -4.5% |
| Furniture and vehicles | 24 | €60,734 | €39,958 | -€20,776 | -34.2% |
| Financial fixed assets | 28 | €201,200 | €201,200 | = | 0.0% |
| Current assets | 29/58 | €1,060,864 | €1,060,848 | -€15 | 0.0% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Trade receivables | 290 | €250,000 | - | -€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Amounts receivable within one year | 40/41 | €262,147 | €263,533 | +€1,386 | +0.5% |
| Trade receivables | 40 | €51,595 | €50,981 | -€614 | -1.2% |
| Other amounts receivable | 41 | €210,552 | €212,552 | +€2,000 | +0.9% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €146,416 | €145,220 | -€1,196 | -0.8% |
| Deferred charges and accrued income | 490/1 | €2,300 | €2,095 | -€206 | -8.9% |
| Total equity and liabilities | 10/49 | €4,216,759 | €4,067,078 | -€149,681 | -3.5% |
| Equity | 10/15 | €859,631 | €981,475 | +€121,843 | +14.2% |
| 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% |
| Revaluation surpluses | 12 | €141,299 | €118,989 | -€22,310 | -15.8% |
| Reserves | 13 | €655,783 | €799,893 | +€144,110 | +22.0% |
| Non-distributable reserves | 130/1 | €6,150 | €1,315 | -€4,835 | -78.6% |
| Legal reserve | 130 | €6,150 | €1,315 | -€4,835 | -78.6% |
| Distributable reserves | 133 | €649,633 | €798,578 | +€148,945 | +22.9% |
| Profit (loss) carried forward | 14 | €1,049 | €1,093 | +€43 | +4.1% |
| Amounts payable | 17/49 | €3,357,127 | €3,085,603 | -€271,524 | -8.1% |
| Amounts payable after more than one year | 17 | €2,673,236 | €2,355,384 | -€317,851 | -11.9% |
| Financial debts | 170/4 | €2,673,236 | €2,355,384 | -€317,851 | -11.9% |
| Amounts payable within one year | 42/48 | €415,102 | €461,429 | +€46,327 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €328,917 | €320,441 | -€8,476 | -2.6% |
| Financial debts | 43 | €659 | €659 | = | 0.0% |
| Credit institutions | 430/8 | €659 | €659 | = | 0.0% |
| Trade debts | 44 | €64,329 | €72,409 | +€8,080 | +12.6% |
| Suppliers | 440/4 | €64,329 | €72,409 | +€8,080 | +12.6% |
| Taxes, remuneration and social security | 45 | €13,685 | €63,008 | +€49,323 | +360.4% |
| Taxes | 450/3 | €9,987 | €58,747 | +€48,759 | +488.2% |
| Remuneration and social security | 454/9 | €3,698 | €4,262 | +€564 | +15.3% |
| Other amounts payable | 47/48 | €7,511 | €4,911 | -€2,600 | -34.6% |
| Accrued charges and deferred income | 492/3 | €268,790 | €268,790 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €20,207 | €21,194 | +€987 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,132 | €149,665 | -€3,466 | -2.3% |
| Other operating charges | 640/8 | €60,191 | €65,297 | +€5,105 | +8.5% |
| Gross operating margin | 9900 | €464,247 | €465,782 | +€1,535 | +0.3% |
| Operating profit (loss) | 9901 | €230,717 | €229,626 | -€1,092 | -0.5% |
| Financial income | 75/76B | €9,839 | €14,296 | +€4,457 | +45.3% |
| Recurring financial income | 75 | €9,839 | €14,296 | +€4,457 | +45.3% |
| Financial charges | 65/66B | €58,168 | €51,063 | -€7,106 | -12.2% |
| Recurring financial charges | 65 | €58,168 | €51,063 | -€7,106 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €182,388 | €192,859 | +€10,471 | +5.7% |
| Transfer to deferred taxes | 680 | €22,310 | - | -€22,310 | |
| Income taxes | 67/77 | €66,284 | €71,016 | +€4,732 | +7.1% |
| Profit (loss) for the period | 9904 | €93,794 | €121,843 | +€28,049 | +29.9% |
| Transfer from tax-exempt reserves | 789 | €22,310 | €22,310 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €22,310 | +€22,310 | |
| Profit (loss) for the period to be appropriated | 9905 | €116,104 | €121,843 | +€5,739 | +4.9% |
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 11 October 2026 via checked.be.