BLAIRON: 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
BLAIRON
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€60,707
2024 · €25,706-€86,414
Equity
€9.8m
2024 · €9.8m-€60,707
Cash
€545,568
2024 · €638,944-€93,377
Balance sheet total
€25.2m
2024 · €25.7m-€494,354
Largest movements
Assets
- Tangible fixed assets -€655,919
down €655,919 (-2.8%), from €23.7m to €23.1m
of which Other tangible fixed assets: -€463,888
- Receivables after one year +€269,956
up €269,956 (+24.9%), from €1.1m to €1.4m
Equity and liabilities
- Debts after one year -€2.3m
down €2.3m (-19.4%), from €11.9m to €9.6m
- Other debts +€1.8m
up €1.8m (+51.8%), from €3.6m to €5.4m
Income statement
- Depreciation +€151,356
up €151,356 (+28.5%), from €530,929 to €682,285
- Financial income +€83,524
up €83,524 (+186%), from €44,909 to €128,434
- Financial charges +€21,812
up €21,812 (+12.4%), from €176,297 to €198,109
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
€25,706
Gross operating margin
-€1,282
Depreciation
-€151,356
Other operating charges
+€3,214
Financial income
+€83,524
Financial charges
-€21,812
Taxes
+€1,299
Result 2025
-€60,707
raises the resultlowers the result
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.
From operations
+€2.2m
Investment
-€26,317
Financing
-€2.3m
Cash 2024
€638,944
From operations (derived)
+€2.2m
Net result for the year
-€60,707
Depreciation
+€682,285
Receivables after one year
-€269,956
Receivables within one year
+€8,128
Deferred charges and accrued income
+€6,837
Trade debts
+€12,514
Tax, wage and social debts
-€19,019
Other debts
+€1.8m
Accrued charges and deferred income
+€37,894
Investment (derived)
-€26,317
Investment in fixed assets (net)
-€26,317
Financing
-€2.3m
Debts after one year
-€2.3m
Current portion of long-term debt
+€2,368
Cash 2025
€545,568
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,733,426 | €25,239,073 | -€494,354 | -1.9% |
| Fixed assets | 21/28 | €23,894,253 | €23,238,284 | -€655,969 | -2.7% |
| Tangible fixed assets | 22/27 | €23,737,954 | €23,082,034 | -€655,919 | -2.8% |
| Land and buildings | 22 | €8,580,493 | €8,391,713 | -€188,780 | -2.2% |
| Plant, machinery and equipment | 23 | €31,508 | €46,560 | +€15,053 | +47.8% |
| Furniture and vehicles | 24 | €3,548 | €0 | -€3,548 | -100% |
| Leasing and similar rights | 25 | €392,439 | €377,683 | -€14,756 | -3.8% |
| Other tangible fixed assets | 26 | €14,729,966 | €14,266,078 | -€463,888 | -3.1% |
| Financial fixed assets | 28 | €156,300 | €156,250 | -€50 | 0.0% |
| Current assets | 29/58 | €1,839,173 | €2,000,788 | +€161,615 | +8.8% |
| Amounts receivable after more than one year | 29 | €1,086,024 | €1,355,980 | +€269,956 | +24.9% |
| Other amounts receivable | 291 | €1,086,024 | €1,355,980 | +€269,956 | +24.9% |
| Amounts receivable within one year | 40/41 | €95,158 | €87,031 | -€8,128 | -8.5% |
| Trade receivables | 40 | €82,298 | €65,279 | -€17,019 | -20.7% |
| Other amounts receivable | 41 | €12,860 | €21,751 | +€8,891 | +69.1% |
| Cash at bank and in hand | 54/58 | €638,944 | €545,568 | -€93,377 | -14.6% |
| Deferred charges and accrued income | 490/1 | €19,046 | €12,210 | -€6,837 | -35.9% |
| Total equity and liabilities | 10/49 | €25,733,426 | €25,239,073 | -€494,354 | -1.9% |
| Equity | 10/15 | €9,819,840 | €9,759,133 | -€60,707 | -0.6% |
| Contributions | 10/11 | €13,191,014 | €13,191,014 | = | 0.0% |
| Capital | 10 | €13,191,014 | €13,191,014 | = | 0.0% |
| Issued capital | 100 | €13,191,014 | €13,191,014 | = | 0.0% |
| Reserves | 13 | €1,972,205 | €1,972,205 | = | 0.0% |
| Non-distributable reserves | 130/1 | €123,814 | €123,814 | = | 0.0% |
| Legal reserve | 130 | €123,814 | €123,814 | = | 0.0% |
| Distributable reserves | 133 | €1,848,391 | €1,848,391 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,343,378 | -€5,404,086 | -€60,707 | -1.1% |
| Amounts payable | 17/49 | €15,913,586 | €15,479,940 | -€433,647 | -2.7% |
| Amounts payable after more than one year | 17 | €11,916,953 | €9,604,808 | -€2.3m | -19.4% |
| Financial debts | 170/4 | €11,916,953 | €9,604,808 | -€2.3m | -19.4% |
| Amounts payable within one year | 42/48 | €3,983,575 | €5,824,179 | +€1.8m | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €309,777 | €312,145 | +€2,368 | +0.8% |
| Trade debts | 44 | €79,550 | €92,064 | +€12,514 | +15.7% |
| Suppliers | 440/4 | €79,550 | €92,064 | +€12,514 | +15.7% |
| Taxes, remuneration and social security | 45 | €35,864 | €16,845 | -€19,019 | -53.0% |
| Taxes | 450/3 | €35,864 | €16,845 | -€19,019 | -53.0% |
| Other amounts payable | 47/48 | €3,558,384 | €5,403,125 | +€1.8m | +51.8% |
| Accrued charges and deferred income | 492/3 | €13,058 | €50,953 | +€37,894 | +290% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €530,929 | €682,285 | +€151,356 | +28.5% |
| Other operating charges | 640/8 | €105,449 | €102,235 | -€3,214 | -3.0% |
| Gross operating margin | 9900 | €796,529 | €795,247 | -€1,282 | -0.2% |
| Operating profit (loss) | 9901 | €160,152 | €10,727 | -€149,425 | -93.3% |
| Financial income | 75/76B | €44,909 | €128,434 | +€83,524 | +186% |
| Recurring financial income | 75 | €44,909 | €128,434 | +€83,524 | +186% |
| Financial charges | 65/66B | €176,297 | €198,109 | +€21,812 | +12.4% |
| Recurring financial charges | 65 | €176,297 | €198,109 | +€21,812 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €28,764 | -€58,948 | -€87,713 | |
| Income taxes | 67/77 | €3,058 | €1,759 | -€1,299 | -42.5% |
| Profit (loss) for the period | 9904 | €25,706 | -€60,707 | -€86,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,706 | -€60,707 | -€86,414 |
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 16 October 2026 via checked.be.