B - Real Estate: what changed
What changed
B - Real Estate
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€731,207
2024 · €1.1m-€409,043
Equity
€15.7m
2024 · €15.3m+€431,207
Cash
€1.0m
2024 · €317,870+€707,480
Balance sheet total
€23.3m
2024 · €23.8m-€444,708
Largest movements
Assets
- Current investments -€1.3m
down €1.3m (-16.1%), from €7.8m to €6.5m
- Cash +€707,480
up €707,480 (+223%), from €317,870 to €1.0m
mainly Current investments (+€1.3m) and Net result for the year (+€731,207)
Equity and liabilities
- Debts after one year -€803,971
down €803,971 (-11.3%), from €7.1m to €6.3m
- Reserves +€431,207
up €431,207 (+3.8%), from €11.4m to €11.8m
of which Distributable reserves: +€431,207
Income statement
- Financial income -€373,186
down €373,186 (-34.5%), from €1.1m to €708,016
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.1m
Depreciation
-€5,454
Other operating charges
-€57,041
Other operating items
+€190,902
Financial income
-€373,186
Financial charges
-€210,968
Taxes
+€46,703
Result 2025
€731,207
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€833,298
Investment
+€949,928
Financing
-€1.1m
Cash 2024
€317,870
From operations (derived)
+€833,298
Net result for the year
+€731,207
Depreciation
+€123,236
Receivables within one year
+€57,156
Deferred charges and accrued income
+€21,869
Trade debts
-€181,006
Tax, wage and social debts
+€88,608
Other debts
-€1,189
Accrued charges and deferred income
-€6,583
Investment (derived)
+€949,928
Investment in fixed assets (net)
-€300,072
Current investments
+€1.3m
Financing
-€1.1m
Debts after one year
-€803,971
Current portion of long-term debt
+€28,226
Contributions, distributions and other
-€300,000
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,790,700 | €23,345,992 | -€444,708 | -1.9% |
| Fixed assets | 21/28 | €15,332,202 | €15,509,039 | +€176,836 | +1.2% |
| Tangible fixed assets | 22/27 | €2,539,229 | €2,670,906 | +€131,676 | +5.2% |
| Land and buildings | 22 | €2,468,154 | €2,669,613 | +€201,459 | +8.2% |
| Plant, machinery and equipment | 23 | €1,579 | €910 | -€669 | -42.4% |
| Furniture and vehicles | 24 | €749 | €383 | -€366 | -48.9% |
| Assets under construction and advance payments | 27 | €68,748 | - | -€68,748 | |
| Financial fixed assets | 28 | €12,792,973 | €12,838,133 | +€45,160 | +0.4% |
| Affiliated companies | 280/1 | €12,792,973 | €12,838,133 | +€45,160 | +0.4% |
| Participating interests | 280 | €12,792,973 | €12,838,133 | +€45,160 | +0.4% |
| Current assets | 29/58 | €8,458,498 | €7,836,954 | -€621,544 | -7.3% |
| Amounts receivable within one year | 40/41 | €367,587 | €310,431 | -€57,156 | -15.5% |
| Trade receivables | 40 | €647 | - | -€647 | |
| Other amounts receivable | 41 | €366,940 | €310,431 | -€56,509 | -15.4% |
| Current investments | 50/53 | €7,750,000 | €6,500,000 | -€1.3m | -16.1% |
| Other investments | 51/53 | €7,750,000 | €6,500,000 | -€1.3m | -16.1% |
| Cash at bank and in hand | 54/58 | €317,870 | €1,025,350 | +€707,480 | +223% |
| Deferred charges and accrued income | 490/1 | €23,041 | €1,172 | -€21,869 | -94.9% |
| Total equity and liabilities | 10/49 | €23,790,700 | €23,345,992 | -€444,708 | -1.9% |
| Equity | 10/15 | €15,278,970 | €15,710,177 | +€431,207 | +2.8% |
| Contributions | 10/11 | €3,842,966 | €3,842,966 | = | 0.0% |
| Capital | 10 | €3,842,966 | €3,842,966 | = | 0.0% |
| Issued capital | 100 | €3,842,966 | €3,842,966 | = | 0.0% |
| Revaluation surpluses | 12 | €41,403 | €41,403 | = | 0.0% |
| Reserves | 13 | €11,394,601 | €11,825,808 | +€431,207 | +3.8% |
| Non-distributable reserves | 130/1 | €384,297 | €384,297 | = | 0.0% |
| Legal reserve | 130 | €384,297 | €384,297 | = | 0.0% |
| Tax-exempt reserves | 132 | €4 | €4 | = | 0.0% |
| Distributable reserves | 133 | €11,010,300 | €11,441,507 | +€431,207 | +3.9% |
| Amounts payable | 17/49 | €8,511,731 | €7,635,816 | -€875,915 | -10.3% |
| Amounts payable after more than one year | 17 | €7,137,778 | €6,333,807 | -€803,971 | -11.3% |
| Financial debts | 170/4 | €7,137,778 | €6,333,807 | -€803,971 | -11.3% |
| Credit institutions | 173 | €7,137,778 | €6,333,807 | -€803,971 | -11.3% |
| Amounts payable within one year | 42/48 | €1,367,370 | €1,302,009 | -€65,361 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €775,745 | €803,971 | +€28,226 | +3.6% |
| Trade debts | 44 | €289,044 | €108,038 | -€181,006 | -62.6% |
| Suppliers | 440/4 | €289,044 | €108,038 | -€181,006 | -62.6% |
| Taxes, remuneration and social security | 45 | €91,392 | €180,000 | +€88,608 | +97.0% |
| Taxes | 450/3 | €91,392 | €180,000 | +€88,608 | +97.0% |
| Other amounts payable | 47/48 | €211,189 | €210,000 | -€1,189 | -0.6% |
| Accrued charges and deferred income | 492/3 | €6,583 | - | -€6,583 | |
| Operating income | 70/76A | €828,479 | €936,689 | +€108,210 | +13.1% |
| Other operating income | 74 | €828,479 | €936,689 | +€108,210 | +13.1% |
| Operating charges | 60/66A | €619,255 | €599,058 | -€20,197 | -3.3% |
| Services and other goods | 61 | €390,793 | €308,100 | -€82,692 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,782 | €123,236 | +€5,454 | +4.6% |
| Other operating charges | 640/8 | €110,680 | €167,721 | +€57,041 | +51.5% |
| Operating profit (loss) | 9901 | €209,224 | €337,631 | +€128,407 | +61.4% |
| Financial income | 75/76B | €1,081,202 | €708,016 | -€373,186 | -34.5% |
| Recurring financial income | 75 | €1,081,202 | €708,016 | -€373,186 | -34.5% |
| Income from financial fixed assets | 750 | €871,333 | €602,400 | -€268,933 | -30.9% |
| Income from current assets | 751 | €209,618 | €105,616 | -€104,002 | -49.6% |
| Other financial income | 752/9 | €251 | - | -€251 | |
| Financial charges | 65/66B | €60,537 | €271,504 | +€210,968 | +348% |
| Recurring financial charges | 65 | €60,537 | €271,504 | +€210,968 | +348% |
| Debt charges | 650 | €58,939 | €270,526 | +€211,586 | +359% |
| Other financial charges | 652/9 | €1,597 | €979 | -€619 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €1,229,889 | €774,143 | -€455,747 | -37.1% |
| Income taxes | 67/77 | €89,639 | €42,936 | -€46,703 | -52.1% |
| Taxes | 670/3 | €89,639 | €42,936 | -€46,703 | -52.1% |
| Profit (loss) for the period | 9904 | €1,140,250 | €731,207 | -€409,043 | -35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,140,250 | €731,207 | -€409,043 | -35.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.