BRUSSELS SR: 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
BRUSSELS SR
NACE 68.310, Real estate agency activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€306,655
2024 · €283,599-€590,253
Equity
€1.3m
2024 · €1.6m-€306,655
Cash
€255,535
2024 · €43,636+€211,899
Balance sheet total
€3.5m
2024 · €5.1m-€1.6m
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-57.2%), from €2.0m to €845,622
of which Trade receivables: -€1.1m
- Financial fixed assets -€621,868
down €621,868 (-22.7%), from €2.7m to €2.1m
- Cash +€211,899
up €211,899 (+485.6%), from €43,636 to €255,535
mainly Receivables within one year (+€1.1m) and Investment in fixed assets (net) (+€616,141)
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-39.7%), from €2.9m to €1.8m
- Profit (loss) carried forward -€306,655
down €306,655 (-24.3%), from €1.3m to €956,844
- Current portion of long-term debt -€53,518
down €53,518 (-79.4%), from €67,398 to €13,880
Income statement
- Gross operating margin -€708,811
down €708,811, from €618,047 to -€90,764
- Taxes -€123,267
down €123,267, from €108,422 to -€14,844
- Write-downs +€10,125
new in 2025: €10,125
- Staff costs +€7,230
up €7,230 (+3.1%), from €235,550 to €242,780
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
€283,599
Gross operating margin
-€708,811
Staff costs
-€7,230
Depreciation
+€2,699
Write-downs
-€10,125
Other operating charges
-€3,958
Other operating items
+€9,543
Financial income
+€2,273
Financial charges
+€2,089
Taxes
+€123,267
Result 2025
-€306,655
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.
From operations
-€336,128
Investment
+€616,141
Financing
-€68,113
Cash 2024
€43,636
From operations (derived)
-€336,128
Net result for the year
-€306,655
Depreciation
+€54,286
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€6,556
Trade debts
-€1.2m
Tax, wage and social debts
-€2,026
Other debts
-€15,960
Accrued charges and deferred income
-€23,641
Investment (derived)
+€616,141
Investment in fixed assets (net)
+€616,141
Financing
-€68,113
Debts after one year
-€14,595
Current portion of long-term debt
-€53,518
Cash 2025
€255,535
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,078,567 | €3,494,194 | -€1.6m | -31.2% |
| Fixed assets | 21/28 | €3,053,289 | €2,382,863 | -€670,426 | -22.0% |
| Tangible fixed assets | 22/27 | €314,467 | €265,909 | -€48,558 | -15.4% |
| Plant, machinery and equipment | 23 | €1,173 | €228 | -€945 | -80.6% |
| Furniture and vehicles | 24 | €13,267 | €10,244 | -€3,023 | -22.8% |
| Other tangible fixed assets | 26 | €300,026 | €255,437 | -€44,589 | -14.9% |
| Financial fixed assets | 28 | €2,738,822 | €2,116,954 | -€621,868 | -22.7% |
| Current assets | 29/58 | €2,025,278 | €1,111,331 | -€913,947 | -45.1% |
| Amounts receivable within one year | 40/41 | €1,978,025 | €845,622 | -€1.1m | -57.2% |
| Trade receivables | 40 | €1,949,010 | €826,961 | -€1.1m | -57.6% |
| Other amounts receivable | 41 | €29,015 | €18,661 | -€10,353 | -35.7% |
| Cash at bank and in hand | 54/58 | €43,636 | €255,535 | +€211,899 | +485.6% |
| Deferred charges and accrued income | 490/1 | €3,618 | €10,174 | +€6,556 | +181.2% |
| Total equity and liabilities | 10/49 | €5,078,567 | €3,494,194 | -€1.6m | -31.2% |
| Equity | 10/15 | €1,620,708 | €1,314,054 | -€306,655 | -18.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €338,660 | €338,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €336,800 | €336,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,263,498 | €956,844 | -€306,655 | -24.3% |
| Amounts payable | 17/49 | €3,457,859 | €2,180,140 | -€1.3m | -37.0% |
| Amounts payable after more than one year | 17 | €79,125 | €64,530 | -€14,595 | -18.4% |
| Financial debts | 170/4 | €79,125 | €64,530 | -€14,595 | -18.4% |
| Amounts payable within one year | 42/48 | €3,168,286 | €1,928,804 | -€1.2m | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €67,398 | €13,880 | -€53,518 | -79.4% |
| Trade debts | 44 | €2,939,987 | €1,772,009 | -€1.2m | -39.7% |
| Suppliers | 440/4 | €2,939,987 | €1,772,009 | -€1.2m | -39.7% |
| Taxes, remuneration and social security | 45 | €130,776 | €128,749 | -€2,026 | -1.5% |
| Taxes | 450/3 | €112,677 | €95,954 | -€16,723 | -14.8% |
| Remuneration and social security | 454/9 | €18,098 | €32,795 | +€14,697 | +81.2% |
| Other amounts payable | 47/48 | €30,125 | €14,165 | -€15,960 | -53.0% |
| Accrued charges and deferred income | 492/3 | €210,448 | €186,806 | -€23,641 | -11.2% |
| Non-recurring operating income | 76A | €10,757 | - | -€10,757 | |
| Remuneration, social security and pensions | 62 | €235,550 | €242,780 | +€7,230 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,984 | €54,286 | -€2,699 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,125 | +€10,125 | |
| Other operating charges | 640/8 | €2,549 | €6,507 | +€3,958 | +155.3% |
| Non-recurring operating charges | 66A | €9,543 | - | -€9,543 | |
| Gross operating margin | 9900 | €618,047 | -€90,764 | -€708,811 | |
| Operating profit (loss) | 9901 | €313,421 | -€404,461 | -€717,882 | |
| Financial income | 75/76B | €83,888 | €86,161 | +€2,273 | +2.7% |
| Recurring financial income | 75 | €82,716 | €86,161 | +€3,445 | +4.2% |
| Non-recurring financial income | 76B | €1,171 | - | -€1,171 | |
| Financial charges | 65/66B | €5,288 | €3,199 | -€2,089 | -39.5% |
| Recurring financial charges | 65 | €5,288 | €3,199 | -€2,089 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €392,021 | -€321,499 | -€713,520 | |
| Income taxes | 67/77 | €108,422 | -€14,844 | -€123,267 | |
| Profit (loss) for the period | 9904 | €283,599 | -€306,655 | -€590,253 | |
| Profit (loss) for the period to be appropriated | 9905 | €283,599 | -€306,655 | -€590,253 |
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 9 October 2026 via checked.be.