BUILDING: what changed
Two fiscal 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
BUILDING
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · -€182,669-€974,561
Equity
-€585,952
2024 · €571,278-€1.2m
Cash
€115,789
2024 · €81,520+€34,269
Balance sheet total
€5.3m
2024 · €6.0m-€716,364
Largest movements
Assets
- Tangible fixed assets -€734,725
down €734,725 (-13.1%), from €5.6m to €4.9m
of which Land and buildings: -€1.1m
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-359.9%), from -€311,308 to -€1.4m
- Debts after one year +€306,201
up €306,201 (+6.0%), from €5.1m to €5.4m
- Accrued charges and deferred income +€120,149
up €120,149 (+216.4%), from €55,517 to €175,666
Income statement
- Other operating charges +€142,766
up €142,766 (+281.3%), from €50,748 to €193,515
- Gross operating margin +€66,083
up €66,083 (+26.1%), from €253,236 to €319,319
- Write-downs -€31,137
down €31,137 (-77.6%), from €40,105 to €8,967
- Financial charges +€25,164
up €25,164 (+12.4%), from €203,006 to €228,170
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
-€182,669
Gross operating margin
+€66,083
Write-downs
+€31,137
Other operating charges
-€142,766
Other operating items
-€904,235
Financial income
+€383
Financial charges
-€25,164
Result 2025
-€1.2m
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
-€857,217
Investment
+€580,237
Financing
+€311,249
Cash 2024
€81,520
From operations (derived)
-€857,217
Net result for the year
-€1.2m
Depreciation
+€154,488
Receivables within one year
+€37,569
Deferred charges and accrued income
-€21,662
Provisions
-€12,253
Trade debts
+€3,532
Tax, wage and social debts
+€18,189
Accrued charges and deferred income
+€120,149
Investment (derived)
+€580,237
Investment in fixed assets (net)
+€580,237
Financing
+€311,249
Debts after one year
+€306,201
Current portion of long-term debt
+€5,048
Cash 2025
€115,789
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,011,995 | €5,295,631 | -€716,364 | -11.9% |
| Fixed assets | 21/28 | €5,616,263 | €4,881,537 | -€734,725 | -13.1% |
| Tangible fixed assets | 22/27 | €5,616,263 | €4,881,537 | -€734,725 | -13.1% |
| Land and buildings | 22 | €5,413,463 | €4,354,740 | -€1.1m | -19.6% |
| Assets under construction and advance payments | 27 | €202,800 | €526,797 | +€323,997 | +159.8% |
| Current assets | 29/58 | €395,732 | €414,094 | +€18,362 | +4.6% |
| Amounts receivable within one year | 40/41 | €311,369 | €273,800 | -€37,569 | -12.1% |
| Trade receivables | 40 | €306,812 | €273,800 | -€33,012 | -10.8% |
| Other amounts receivable | 41 | €4,557 | - | -€4,557 | |
| Cash at bank and in hand | 54/58 | €81,520 | €115,789 | +€34,269 | +42.0% |
| Deferred charges and accrued income | 490/1 | €2,843 | €24,505 | +€21,662 | +761.8% |
| Total equity and liabilities | 10/49 | €6,011,995 | €5,295,631 | -€716,364 | -11.9% |
| Equity | 10/15 | €571,278 | -€585,952 | -€1.2m | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €732,586 | €695,827 | -€36,759 | -5.0% |
| Tax-exempt reserves | 132 | €367,586 | €330,827 | -€36,759 | -10.0% |
| Distributable reserves | 133 | €365,000 | €365,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€311,308 | -€1,431,779 | -€1.1m | -359.9% |
| Provisions and deferred taxes | 16 | €122,529 | €110,276 | -€12,253 | -10.0% |
| Deferred taxes | 168 | €122,529 | €110,276 | -€12,253 | -10.0% |
| Amounts payable | 17/49 | €5,318,189 | €5,771,307 | +€453,119 | +8.5% |
| Amounts payable after more than one year | 17 | €5,141,975 | €5,448,177 | +€306,201 | +6.0% |
| Financial debts | 170/4 | €5,141,975 | €5,448,177 | +€306,201 | +6.0% |
| Amounts payable within one year | 42/48 | €120,696 | €147,465 | +€26,768 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €110,133 | €115,181 | +€5,048 | +4.6% |
| Trade debts | 44 | €10,564 | €14,096 | +€3,532 | +33.4% |
| Suppliers | 440/4 | €10,564 | €14,096 | +€3,532 | +33.4% |
| Taxes, remuneration and social security | 45 | - | €18,189 | +€18,189 | |
| Taxes | 450/3 | - | €18,189 | +€18,189 | |
| Accrued charges and deferred income | 492/3 | €55,517 | €175,666 | +€120,149 | +216.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,488 | €154,488 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €40,105 | €8,967 | -€31,137 | -77.6% |
| Other operating charges | 640/8 | €50,748 | €193,515 | +€142,766 | +281.3% |
| Non-recurring operating charges | 66A | - | €904,235 | +€904,235 | |
| Gross operating margin | 9900 | €253,236 | €319,319 | +€66,083 | +26.1% |
| Operating profit (loss) | 9901 | €7,894 | -€941,886 | -€949,780 | |
| Financial income | 75/76B | €190 | €573 | +€383 | +201.7% |
| Recurring financial income | 75 | €190 | €573 | +€383 | +201.7% |
| Financial charges | 65/66B | €203,006 | €228,170 | +€25,164 | +12.4% |
| Recurring financial charges | 65 | €203,006 | €228,170 | +€25,164 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | -€194,922 | -€1,169,483 | -€974,561 | -500.0% |
| Transfer from deferred taxes | 780 | €12,253 | €12,253 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€182,669 | -€1,157,230 | -€974,561 | -533.5% |
| Transfer from tax-exempt reserves | 789 | €36,759 | €36,759 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€145,910 | -€1,120,471 | -€974,561 | -667.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.