BERLECO: 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
BERLECO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€125,822
2023 · -€112,625+€238,446
Equity
€2.1m
2023 · €2.1m-€24,178
Cash
€142,765
2023 · €274,653-€131,888
Balance sheet total
€8.6m
2023 · €8.6m+€7,474
Largest movements
Assets
- Cash -€131,888
down €131,888 (-48.0%), from €274,653 to €142,765
mainly Contributions, distributions and other (-€150,000) and Other debts (-€100,567)
- Current investments +€91,037
up €91,037 (+7.8%), from €1.2m to €1.3m
Equity and liabilities
- Other debts -€100,567
down €100,567 (-15.9%), from €631,320 to €530,753
- Debts after one year +€89,497
up €89,497 (+1.8%), from €5.0m to €5.1m
Income statement
- Financial charges -€58,939
down €58,939 (-48.6%), from €121,150 to €62,210
- Gross operating margin +€34,488
up €34,488 (+11.2%), from €307,873 to €342,361
- Financial income +€32,213
up €32,213 (+163%), from €19,716 to €51,929
- Other operating charges +€14,905
up €14,905 (+37.5%), from €39,741 to €54,646
From the 2023 result to the 2024 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 2023
-€112,625
Gross operating margin
+€34,488
Depreciation
+€107
Write-downs
-€1,174
Other operating charges
-€14,905
Other operating items
+€130,112
Financial income
+€32,213
Financial charges
+€58,939
Taxes
-€1,334
Result 2024
€125,822
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€106,444
Investment
-€187,328
Financing
-€51,004
Cash 2023
€274,653
From operations (derived)
+€106,444
Net result for the year
+€125,822
Depreciation
+€172,534
Stocks and contracts
-€40,664
Receivables within one year
-€81,336
Deferred charges and accrued income
-€2,568
Provisions
-€36,682
Trade debts
+€35,673
Tax, wage and social debts
-€3,363
Other debts
-€100,567
Accrued charges and deferred income
+€37,595
Investment (derived)
-€187,328
Investment in fixed assets (net)
-€96,291
Current investments
-€91,037
Financing
-€51,004
Debts after one year
+€89,497
Current portion of long-term debt
+€9,499
Contributions, distributions and other
-€150,000
Cash 2024
€142,765
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,580,369 | €8,587,844 | +€7,474 | +0.1% |
| Fixed assets | 21/28 | €5,970,558 | €5,894,315 | -€76,244 | -1.3% |
| Tangible fixed assets | 22/27 | €5,969,330 | €5,892,898 | -€76,432 | -1.3% |
| Land and buildings | 22 | €5,939,713 | €5,880,199 | -€59,514 | -1.0% |
| Plant, machinery and equipment | 23 | €222 | €161 | -€61 | -27.5% |
| Furniture and vehicles | 24 | €29,394 | €12,538 | -€16,856 | -57.3% |
| Financial fixed assets | 28 | €1,229 | €1,417 | +€188 | +15.3% |
| Current assets | 29/58 | €2,609,811 | €2,693,529 | +€83,718 | +3.2% |
| Stocks and contracts in progress | 3 | €1,123,694 | €1,164,358 | +€40,664 | +3.6% |
| Stocks | 30/36 | €1,123,694 | €1,164,358 | +€40,664 | +3.6% |
| Amounts receivable within one year | 40/41 | €42,128 | €123,464 | +€81,336 | +193% |
| Trade receivables | 40 | €34,323 | €111,918 | +€77,596 | +226% |
| Other amounts receivable | 41 | €7,805 | €11,545 | +€3,740 | +47.9% |
| Current investments | 50/53 | €1,166,585 | €1,257,622 | +€91,037 | +7.8% |
| Cash at bank and in hand | 54/58 | €274,653 | €142,765 | -€131,888 | -48.0% |
| Deferred charges and accrued income | 490/1 | €2,752 | €5,320 | +€2,568 | +93.3% |
| Total equity and liabilities | 10/49 | €8,580,369 | €8,587,844 | +€7,474 | +0.1% |
| Equity | 10/15 | €2,145,336 | €2,121,158 | -€24,178 | -1.1% |
| Contributions | 10/11 | €257,474 | €257,474 | = | 0.0% |
| Reserves | 13 | €1,917,610 | €1,863,684 | -€53,926 | -2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,682,565 | €1,572,520 | -€110,045 | -6.5% |
| Distributable reserves | 133 | €235,045 | €291,164 | +€56,119 | +23.9% |
| Profit (loss) carried forward | 14 | -€29,748 | €0 | +€29,748 | |
| Provisions and deferred taxes | 16 | €560,855 | €524,173 | -€36,682 | -6.5% |
| Deferred taxes | 168 | €560,855 | €524,173 | -€36,682 | -6.5% |
| Amounts payable | 17/49 | €5,874,178 | €5,942,512 | +€68,334 | +1.2% |
| Amounts payable after more than one year | 17 | €4,996,163 | €5,085,660 | +€89,497 | +1.8% |
| Financial debts | 170/4 | €4,996,163 | €5,085,660 | +€89,497 | +1.8% |
| Amounts payable within one year | 42/48 | €864,386 | €805,629 | -€58,758 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €185,689 | €195,189 | +€9,499 | +5.1% |
| Trade debts | 44 | €29,386 | €65,058 | +€35,673 | +121% |
| Suppliers | 440/4 | €29,386 | €65,058 | +€35,673 | +121% |
| Taxes, remuneration and social security | 45 | €17,991 | €14,629 | -€3,363 | -18.7% |
| Taxes | 450/3 | €17,991 | €14,629 | -€3,363 | -18.7% |
| Other amounts payable | 47/48 | €631,320 | €530,753 | -€100,567 | -15.9% |
| Accrued charges and deferred income | 492/3 | €13,629 | €51,223 | +€37,595 | +276% |
| Non-recurring operating income | 76A | €11,707 | €0 | -€11,707 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,642 | €172,534 | -€107 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,174 | +€1,174 | |
| Other operating charges | 640/8 | €39,741 | €54,646 | +€14,905 | +37.5% |
| Non-recurring operating charges | 66A | €130,112 | €0 | -€130,112 | -100% |
| Gross operating margin | 9900 | €307,873 | €342,361 | +€34,488 | +11.2% |
| Operating profit (loss) | 9901 | -€34,622 | €114,007 | +€148,628 | |
| Financial income | 75/76B | €19,716 | €51,929 | +€32,213 | +163% |
| Recurring financial income | 75 | €19,716 | €51,929 | +€32,213 | +163% |
| Financial charges | 65/66B | €121,150 | €62,210 | -€58,939 | -48.6% |
| Recurring financial charges | 65 | €121,150 | €62,210 | -€58,939 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | -€136,056 | €103,725 | +€239,780 | |
| Transfer from deferred taxes | 780 | €36,682 | €36,682 | = | 0.0% |
| Income taxes | 67/77 | €13,251 | €14,584 | +€1,334 | +10.1% |
| Profit (loss) for the period | 9904 | -€112,625 | €125,822 | +€238,446 | |
| Transfer from tax-exempt reserves | 789 | €110,045 | €110,045 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,580 | €235,867 | +€238,446 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.