BELGIUM PROPERTY: 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.
BELGIUM PROPERTY
Largest movements
- Receivables within one year +€284,696
up €284,696 (+236%), from €120,446 to €405,142
of which Trade receivables: +€289,170
- Deferred charges and accrued income +€184,327
up €184,327 (+1,111%), from €16,588 to €200,915
- Profit (loss) carried forward +€230,859
up €230,859 (+8.4%), from -€2.7m to -€2.5m
- Gross operating margin +€124,761
up €124,761 (+24.0%), from €519,388 to €644,149
- Other operating charges -€8,284
down €8,284 (-6.0%), from €136,985 to €128,701
- Depreciation +€7,734
up €7,734 (+2.8%), from €276,532 to €284,266
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,861,554 | €14,221,714 | +€360,160 | +2.6% |
| Fixed assets | 21/28 | €13,406,077 | €13,411,387 | +€5,310 | 0.0% |
| Tangible fixed assets | 22/27 | €13,397,607 | €13,402,917 | +€5,310 | 0.0% |
| Land and buildings | 22 | €13,397,607 | €13,402,917 | +€5,310 | 0.0% |
| Financial fixed assets | 28 | €8,470 | €8,470 | = | 0.0% |
| Current assets | 29/58 | €455,477 | €810,327 | +€354,850 | +77.9% |
| Amounts receivable within one year | 40/41 | €120,446 | €405,142 | +€284,696 | +236% |
| Trade receivables | 40 | €61,694 | €350,864 | +€289,170 | +469% |
| Other amounts receivable | 41 | €58,752 | €54,278 | -€4,474 | -7.6% |
| Cash at bank and in hand | 54/58 | €318,443 | €204,270 | -€114,173 | -35.9% |
| Deferred charges and accrued income | 490/1 | €16,588 | €200,915 | +€184,327 | +1,111% |
| Total equity and liabilities | 10/49 | €13,861,554 | €14,221,714 | +€360,160 | +2.6% |
| Equity | 10/15 | €1,397,487 | €1,628,346 | +€230,859 | +16.5% |
| Contributions | 10/11 | €4,136,960 | €4,136,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,739,473 | -€2,508,614 | +€230,859 | +8.4% |
| Amounts payable | 17/49 | €12,464,067 | €12,593,368 | +€129,301 | +1.0% |
| Amounts payable after more than one year | 17 | €12,296,938 | €12,296,478 | -€460 | 0.0% |
| Other amounts payable | 178/9 | €12,296,938 | €12,296,478 | -€460 | 0.0% |
| Amounts payable within one year | 42/48 | €905 | €33,477 | +€32,572 | +3,599% |
| Trade debts | 44 | €905 | €23,546 | +€22,641 | +2,502% |
| Suppliers | 440/4 | €905 | €23,546 | +€22,641 | +2,502% |
| Taxes, remuneration and social security | 45 | - | €9,931 | +€9,931 | |
| Taxes | 450/3 | - | €9,931 | +€9,931 | |
| Accrued charges and deferred income | 492/3 | €166,224 | €263,413 | +€97,189 | +58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276,532 | €284,266 | +€7,734 | +2.8% |
| Other operating charges | 640/8 | €136,985 | €128,701 | -€8,284 | -6.0% |
| Gross operating margin | 9900 | €519,388 | €644,149 | +€124,761 | +24.0% |
| Operating profit (loss) | 9901 | €105,871 | €231,182 | +€125,311 | +118% |
| Financial charges | 65/66B | €760 | €323 | -€437 | -57.5% |
| Recurring financial charges | 65 | €760 | €323 | -€437 | -57.5% |
| Profit (loss) for the period before taxes | 9903 | €105,111 | €230,859 | +€125,748 | +120% |
| Profit (loss) for the period | 9904 | €105,111 | €230,859 | +€125,748 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €105,111 | €230,859 | +€125,748 | +120% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.