BURY MICHEL: what changed
What changed
BURY MICHEL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€162,539
2024 · -€28,955+€191,493
Equity
€492,573
2024 · €332,835+€159,737
Cash
€205,175
2024 · €21,311+€183,864
Balance sheet total
€541,527
2024 · €377,925+€163,603
Largest movements
Assets
- Cash +€183,864
up €183,864 (+863%), from €21,311 to €205,175
mainly Net result for the year (+€162,539) and Provisions (+€27,033)
- Intangible fixed assets -€31,940
no longer reported in 2025 (was €31,940)
- Receivables within one year +€10,556
up €10,556 (+12.7%), from €83,258 to €93,813
of which Other amounts receivable: +€9,642
Equity and liabilities
- Profit (loss) carried forward +€81,438
up €81,438 (+120%), from €67,733 to €149,171
- Reserves +€81,100
up €81,100 (+35.2%), from €230,695 to €311,795
of which Tax-exempt reserves: +€81,100
- Provisions +€27,033
new in 2025: €27,033
- Other debts -€19,581
no longer reported in 2025 (was €19,581)
- Current portion of long-term debt -€5,461
no longer reported in 2025 (was €5,461)
Income statement
- Gross operating margin +€225,850
up €225,850 (+1,700%), from €13,288 to €239,139
- Staff costs +€29,133
up €29,133 (+329%), from €8,846 to €37,979
- Depreciation -€13,318
down €13,318 (-59.7%), from €22,315 to €8,997
- Other operating charges -€5,747
down €5,747 (-72.4%), from €7,940 to €2,193
- Financial charges -€2,580
down €2,580 (-83.1%), from €3,106 to €525
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€28,955
Gross operating margin
+€225,850
Staff costs
-€29,133
Depreciation
+€13,318
Other operating charges
+€5,747
Financial income
+€188
Financial charges
+€2,580
Taxes
-€25
Deferred taxes and other
-€27,033
Result 2025
€162,539
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€174,108
Investment
+€18,018
Financing
-€8,263
Cash 2024
€21,311
From operations (derived)
+€174,108
Net result for the year
+€162,539
Depreciation
+€8,997
Stocks and contracts
+€3,764
Receivables within one year
-€10,556
Deferred charges and accrued income
+€37
Provisions
+€27,033
Trade debts
-€1,875
Tax, wage and social debts
+€3,749
Other debts
-€19,581
Investment (derived)
+€18,018
Investment in fixed assets (net)
+€18,018
Financing
-€8,263
Current portion of long-term debt
-€5,461
Contributions, distributions and other
-€2,801
Cash 2025
€205,175
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €377,925 | €541,527 | +€163,603 | +43.3% |
| Fixed assets | 21/28 | €267,756 | €240,741 | -€27,015 | -10.1% |
| Intangible fixed assets | 21 | €31,940 | - | -€31,940 | |
| Tangible fixed assets | 22/27 | €233,170 | €238,095 | +€4,925 | +2.1% |
| Land and buildings | 22 | €202,460 | €215,188 | +€12,729 | +6.3% |
| Furniture and vehicles | 24 | €30,710 | €22,906 | -€7,804 | -25.4% |
| Financial fixed assets | 28 | €2,646 | €2,646 | = | 0.0% |
| Current assets | 29/58 | €110,169 | €300,787 | +€190,618 | +173% |
| Stocks and contracts in progress | 3 | €3,764 | - | -€3,764 | |
| Stocks | 30/36 | €3,764 | - | -€3,764 | |
| Amounts receivable within one year | 40/41 | €83,258 | €93,813 | +€10,556 | +12.7% |
| Trade receivables | 40 | €40,914 | €41,828 | +€914 | +2.2% |
| Other amounts receivable | 41 | €42,343 | €51,986 | +€9,642 | +22.8% |
| Cash at bank and in hand | 54/58 | €21,311 | €205,175 | +€183,864 | +863% |
| Deferred charges and accrued income | 490/1 | €1,836 | €1,798 | -€37 | -2.0% |
| Total equity and liabilities | 10/49 | €377,925 | €541,527 | +€163,603 | +43.3% |
| Equity | 10/15 | €332,835 | €492,573 | +€159,737 | +48.0% |
| Contributions | 10/11 | €30,987 | €31,607 | +€620 | +2.0% |
| Reserves | 13 | €230,695 | €311,795 | +€81,100 | +35.2% |
| Non-distributable reserves | 130/1 | €183,099 | €183,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €183,099 | €183,099 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €81,100 | +€81,100 | |
| Distributable reserves | 133 | €47,596 | €47,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,733 | €149,171 | +€81,438 | +120% |
| Investment grants | 15 | €3,421 | - | -€3,421 | |
| Provisions and deferred taxes | 16 | - | €27,033 | +€27,033 | |
| Deferred taxes | 168 | - | €27,033 | +€27,033 | |
| Amounts payable | 17/49 | €45,089 | €21,921 | -€23,168 | -51.4% |
| Amounts payable within one year | 42/48 | €45,089 | €21,921 | -€23,168 | -51.4% |
| Current portion of amounts payable after more than one year | 42 | €5,461 | - | -€5,461 | |
| Trade debts | 44 | €1,875 | - | -€1,875 | |
| Suppliers | 440/4 | €1,875 | - | -€1,875 | |
| Taxes, remuneration and social security | 45 | €18,172 | €21,921 | +€3,749 | +20.6% |
| Taxes | 450/3 | €3,851 | €3,880 | +€29 | +0.8% |
| Remuneration and social security | 454/9 | €14,321 | €18,041 | +€3,720 | +26.0% |
| Other amounts payable | 47/48 | €19,581 | - | -€19,581 | |
| Non-recurring operating income | 76A | €138 | - | -€138 | |
| Remuneration, social security and pensions | 62 | €8,846 | €37,979 | +€29,133 | +329% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,315 | €8,997 | -€13,318 | -59.7% |
| Other operating charges | 640/8 | €7,940 | €2,193 | -€5,747 | -72.4% |
| Gross operating margin | 9900 | €13,288 | €239,139 | +€225,850 | +1,700% |
| Operating profit (loss) | 9901 | -€25,813 | €189,969 | +€215,783 | |
| Financial income | 75/76B | €104 | €292 | +€188 | +182% |
| Recurring financial income | 75 | €104 | €292 | +€188 | +182% |
| Financial charges | 65/66B | €3,106 | €525 | -€2,580 | -83.1% |
| Recurring financial charges | 65 | €3,106 | €525 | -€2,580 | -83.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,816 | €189,736 | +€218,552 | |
| Transfer from deferred taxes | 780 | - | €37 | +€37 | |
| Transfer to deferred taxes | 680 | - | €27,070 | +€27,070 | |
| Income taxes | 67/77 | €139 | €164 | +€25 | +18.0% |
| Profit (loss) for the period | 9904 | -€28,955 | €162,539 | +€191,493 | |
| Transfer from tax-exempt reserves | 789 | - | €110 | +€110 | |
| Transfer to tax-exempt reserves | 689 | - | €81,210 | +€81,210 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,955 | €81,438 | +€110,393 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.