ASSETS: 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
ASSETS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€267,349
2024 · €119,186+€148,163
Equity
€7.1m
2024 · €6.8m+€267,349
Cash
€77,946
2024 · €16,839+€61,107
Balance sheet total
€9.4m
2024 · €10.1m-€660,487
Largest movements
Assets
- Tangible fixed assets -€544,896
down €544,896 (-5.6%), from €9.8m to €9.3m
of which Land and buildings: -€536,346
- Receivables within one year -€173,909
down €173,909 (-100.0%), from €173,909 to €0
Equity and liabilities
- Short-term financial debts -€808,333
down €808,333 (-34.3%), from €2.4m to €1.6m
- Profit (loss) carried forward +€298,033
new in 2025: €298,033
Income statement
- Depreciation -€161,873
down €161,873 (-18.6%), from €869,362 to €707,489
- Financial charges -€53,032
down €53,032 (-33.0%), from €160,670 to €107,638
- Taxes +€48,319
up €48,319 (+69.9%), from €69,169 to €117,488
- Other operating charges +€43,729
up €43,729 (+25.6%), from €171,090 to €214,819
- Gross operating margin +€26,837
up €26,837 (+2.0%), from €1.4m to €1.4m
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
€119,186
Gross operating margin
+€26,837
Depreciation
+€161,873
Other operating charges
-€43,729
Financial income
-€1,531
Financial charges
+€53,032
Taxes
-€48,319
Result 2025
€267,349
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
+€1.1m
Investment
-€162,594
Financing
-€908,333
Cash 2024
€16,839
From operations (derived)
+€1.1m
Net result for the year
+€267,349
Depreciation
+€707,489
Receivables within one year
+€173,909
Deferred charges and accrued income
+€2,789
Provisions
-€15,457
Trade debts
+€3,248
Tax, wage and social debts
+€23,692
Other debts
-€40,901
Accrued charges and deferred income
+€9,915
Investment (derived)
-€162,594
Investment in fixed assets (net)
-€162,594
Financing
-€908,333
Debts after one year
-€100,000
Short-term financial debts
-€808,333
Cash 2025
€77,946
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,051,351 | €9,390,864 | -€660,487 | -6.6% |
| Fixed assets | 21/28 | €9,810,922 | €9,266,026 | -€544,896 | -5.6% |
| Tangible fixed assets | 22/27 | €9,810,922 | €9,266,026 | -€544,896 | -5.6% |
| Land and buildings | 22 | €9,792,627 | €9,256,281 | -€536,346 | -5.5% |
| Furniture and vehicles | 24 | €18,295 | €9,745 | -€8,550 | -46.7% |
| Current assets | 29/58 | €240,429 | €124,838 | -€115,591 | -48.1% |
| Amounts receivable within one year | 40/41 | €173,909 | €0 | -€173,909 | -100.0% |
| Other amounts receivable | 41 | €173,909 | €0 | -€173,909 | -100.0% |
| Cash at bank and in hand | 54/58 | €16,839 | €77,946 | +€61,107 | +362.9% |
| Deferred charges and accrued income | 490/1 | €49,681 | €46,892 | -€2,789 | -5.6% |
| Total equity and liabilities | 10/49 | €10,051,351 | €9,390,864 | -€660,487 | -6.6% |
| Equity | 10/15 | €6,848,087 | €7,115,436 | +€267,349 | +3.9% |
| Contributions | 10/11 | €3,900,100 | €3,900,100 | = | 0.0% |
| Capital | 10 | €3,900,100 | €3,900,100 | = | 0.0% |
| Issued capital | 100 | €3,900,100 | €3,900,100 | = | 0.0% |
| Reserves | 13 | €2,947,987 | €2,917,303 | -€30,684 | -1.0% |
| Non-distributable reserves | 130/1 | €163,873 | €179,559 | +€15,686 | +9.6% |
| Legal reserve | 130 | €163,873 | €179,559 | +€15,686 | +9.6% |
| Tax-exempt reserves | 132 | €828,162 | €781,792 | -€46,370 | -5.6% |
| Distributable reserves | 133 | €1,955,952 | €1,955,952 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €298,033 | +€298,033 | |
| Provisions and deferred taxes | 16 | €263,554 | €248,097 | -€15,457 | -5.9% |
| Deferred taxes | 168 | €263,554 | €248,097 | -€15,457 | -5.9% |
| Amounts payable | 17/49 | €2,939,710 | €2,027,330 | -€912,379 | -31.0% |
| Amounts payable after more than one year | 17 | €241,667 | €141,667 | -€100,000 | -41.4% |
| Financial debts | 170/4 | €241,667 | €141,667 | -€100,000 | -41.4% |
| Amounts payable within one year | 42/48 | €2,668,761 | €1,846,467 | -€822,295 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 43 | €2,358,333 | €1,550,000 | -€808,333 | -34.3% |
| Credit institutions | 430/8 | €2,358,333 | €1,550,000 | -€808,333 | -34.3% |
| Trade debts | 44 | €111,623 | €114,870 | +€3,248 | +2.9% |
| Suppliers | 440/4 | €111,623 | €114,870 | +€3,248 | +2.9% |
| Taxes, remuneration and social security | 45 | €29,733 | €53,425 | +€23,692 | +79.7% |
| Taxes | 450/3 | €29,733 | €53,425 | +€23,692 | +79.7% |
| Other amounts payable | 47/48 | €69,073 | €28,171 | -€40,901 | -59.2% |
| Accrued charges and deferred income | 492/3 | €29,281 | €39,197 | +€9,915 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €869,362 | €707,489 | -€161,873 | -18.6% |
| Other operating charges | 640/8 | €171,090 | €214,819 | +€43,729 | +25.6% |
| Gross operating margin | 9900 | €1,363,037 | €1,389,874 | +€26,837 | +2.0% |
| Operating profit (loss) | 9901 | €322,585 | €467,566 | +€144,981 | +44.9% |
| Financial income | 75/76B | €10,983 | €9,452 | -€1,531 | -13.9% |
| Recurring financial income | 75 | €10,983 | €9,452 | -€1,531 | -13.9% |
| Financial charges | 65/66B | €160,670 | €107,638 | -€53,032 | -33.0% |
| Recurring financial charges | 65 | €160,670 | €107,638 | -€53,032 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €172,898 | €369,380 | +€196,482 | +113.6% |
| Transfer from deferred taxes | 780 | €15,457 | €15,457 | = | 0.0% |
| Income taxes | 67/77 | €69,169 | €117,488 | +€48,319 | +69.9% |
| Profit (loss) for the period | 9904 | €119,186 | €267,349 | +€148,163 | +124.3% |
| Transfer from tax-exempt reserves | 789 | €46,370 | €46,370 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €165,556 | €313,719 | +€148,163 | +89.5% |
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 10 October 2026 via checked.be.