B-Estate: 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.
B-Estate
Largest movements
- Tangible fixed assets -€526,175
down €526,175 (-29.9%), from €1.8m to €1.2m
of which Assets under construction and advance payments: -€337,941
- Receivables within one year +€61,385
new in 2025: €61,385
- Financial fixed assets +€60,000
up €60,000 (+11.0%), from €543,200 to €603,200
- Debts after one year -€344,374
down €344,374 (-43.2%), from €796,738 to €452,364
- Profit (loss) carried forward +€250,666
up €250,666 (+49.4%), from -€507,216 to -€256,550
- Reserves -€140,012
down €140,012 (-21.8%), from €643,574 to €503,562
- Short-term financial debts -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Current portion of long-term debt -€49,055
down €49,055 (-41.6%), from €117,939 to €68,883
- Financial income +€75,000
new in 2025: €75,000
- Gross operating margin +€71,260
up €71,260, from -€1,965 to €69,295
- Financial charges +€18,491
up €18,491 (+97.8%), from €18,909 to €37,399
- Depreciation -€10,463
down €10,463 (-21.5%), from €48,722 to €38,259
- Other operating charges +€3,575
up €3,575 (+331.6%), from €1,078 to €4,653
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,308,878 | €1,902,517 | -€406,361 | -17.6% |
| Fixed assets | 21/28 | €2,305,606 | €1,839,431 | -€466,175 | -20.2% |
| Tangible fixed assets | 22/27 | €1,762,406 | €1,236,231 | -€526,175 | -29.9% |
| Land and buildings | 22 | €1,424,465 | €1,236,231 | -€188,234 | -13.2% |
| Assets under construction and advance payments | 27 | €337,941 | €0 | -€337,941 | -100.0% |
| Financial fixed assets | 28 | €543,200 | €603,200 | +€60,000 | +11.0% |
| Current assets | 29/58 | €3,272 | €63,086 | +€59,814 | +1827.9% |
| Amounts receivable within one year | 40/41 | - | €61,385 | +€61,385 | |
| Other amounts receivable | 41 | - | €61,385 | +€61,385 | |
| Cash at bank and in hand | 54/58 | €2,787 | €1,701 | -€1,087 | -39.0% |
| Deferred charges and accrued income | 490/1 | €485 | €0 | -€485 | -100.0% |
| Total equity and liabilities | 10/49 | €2,308,878 | €1,902,517 | -€406,361 | -17.6% |
| Equity | 10/15 | €168,897 | €279,551 | +€110,654 | +65.5% |
| Contributions | 10/11 | €32,539 | €32,539 | = | 0.0% |
| Reserves | 13 | €643,574 | €503,562 | -€140,012 | -21.8% |
| Tax-exempt reserves | 132 | €643,574 | €503,562 | -€140,012 | -21.8% |
| Profit (loss) carried forward | 14 | -€507,216 | -€256,550 | +€250,666 | +49.4% |
| Provisions and deferred taxes | 16 | €215,053 | €168,382 | -€46,671 | -21.7% |
| Deferred taxes | 168 | €215,053 | €168,382 | -€46,671 | -21.7% |
| Amounts payable | 17/49 | €1,924,929 | €1,454,585 | -€470,344 | -24.4% |
| Amounts payable after more than one year | 17 | €796,738 | €452,364 | -€344,374 | -43.2% |
| Financial debts | 170/4 | €796,738 | €452,364 | -€344,374 | -43.2% |
| Amounts payable within one year | 42/48 | €1,127,940 | €1,002,221 | -€125,720 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €117,939 | €68,883 | -€49,055 | -41.6% |
| Financial debts | 43 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Credit institutions | 430/8 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Trade debts | 44 | €6,937 | €6,988 | +€51 | +0.7% |
| Suppliers | 440/4 | €6,937 | €6,988 | +€51 | +0.7% |
| Other amounts payable | 47/48 | €603,065 | €626,349 | +€23,284 | +3.9% |
| Accrued charges and deferred income | 492/3 | €250 | €0 | -€250 | -100.0% |
| Non-recurring operating income | 76A | - | €82,084 | +€82,084 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,722 | €38,259 | -€10,463 | -21.5% |
| Other operating charges | 640/8 | €1,078 | €4,653 | +€3,575 | +331.6% |
| Gross operating margin | 9900 | -€1,965 | €69,295 | +€71,260 | |
| Operating profit (loss) | 9901 | -€51,765 | €26,382 | +€78,148 | |
| Financial income | 75/76B | - | €75,000 | +€75,000 | |
| Recurring financial income | 75 | - | €75,000 | +€75,000 | |
| Financial charges | 65/66B | €18,909 | €37,399 | +€18,491 | +97.8% |
| Recurring financial charges | 65 | €18,909 | €37,399 | +€18,491 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | -€70,674 | €63,983 | +€134,657 | |
| Transfer from deferred taxes | 780 | €8,590 | €46,671 | +€38,081 | +443.3% |
| Profit (loss) for the period | 9904 | -€62,084 | €110,654 | +€172,738 | |
| Transfer from tax-exempt reserves | 789 | €25,769 | €140,012 | +€114,243 | +443.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,315 | €250,666 | +€286,981 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.