Center M: 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
Center M
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€295,067
2024 · €309,328-€14,261
Equity
€9.5m
2024 · €9.5m-€42,965
Cash
€675,562
2024 · €612,602+€62,961
Balance sheet total
€10.3m
2024 · €10.2m+€33,200
Largest movements
Assets
- Tangible fixed assets +€430,047
up €430,047 (+9.0%), from €4.8m to €5.2m
of which Land and buildings: +€558,529
- Current investments -€243,385
down €243,385 (-8.4%), from €2.9m to €2.7m
- Receivables within one year -€216,921
down €216,921 (-11.3%), from €1.9m to €1.7m
of which Other amounts receivable: -€216,727
Equity and liabilities
- Trade debts +€151,146
up €151,146 (+864%), from €17,500 to €168,645
Income statement
- Staff costs +€15,743
up €15,743 (+20.8%), from €75,678 to €91,421
- Financial income +€12,995
up €12,995 (+7.9%), from €163,853 to €176,848
- Depreciation +€10,199
up €10,199 (+3.1%), from €325,260 to €335,458
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
€309,328
Gross operating margin
-€4,467
Staff costs
-€15,743
Depreciation
-€10,199
Other operating charges
+€3,707
Other operating items
+€8
Financial income
+€12,995
Financial charges
-€3,921
Taxes
+€2,235
Deferred taxes and other
+€1,124
Result 2025
€295,067
raises the resultlowers the resultnot broken down further in the accounts
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
+€923,488
Investment
-€522,496
Financing
-€338,032
Cash 2024
€612,602
From operations (derived)
+€923,488
Net result for the year
+€295,067
Depreciation
+€335,458
Receivables within one year
+€216,921
Deferred charges and accrued income
-€123
Provisions
-€25,521
Trade debts
+€151,146
Tax, wage and social debts
-€30,807
Other debts
-€18,654
Investment (derived)
-€522,496
Investment in fixed assets (net)
-€765,881
Current investments
+€243,385
Financing
-€338,032
Contributions, distributions and other
-€338,032
Cash 2025
€675,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,249,913 | €10,283,113 | +€33,200 | +0.3% |
| Fixed assets | 21/28 | €4,800,503 | €5,230,925 | +€430,422 | +9.0% |
| Tangible fixed assets | 22/27 | €4,800,503 | €5,230,550 | +€430,047 | +9.0% |
| Land and buildings | 22 | €4,130,687 | €4,689,216 | +€558,529 | +13.5% |
| Plant, machinery and equipment | 23 | €657,117 | €539,611 | -€117,507 | -17.9% |
| Furniture and vehicles | 24 | €12,698 | €1,723 | -€10,975 | -86.4% |
| Financial fixed assets | 28 | - | €375 | +€375 | |
| Current assets | 29/58 | €5,449,410 | €5,052,188 | -€397,222 | -7.3% |
| Amounts receivable within one year | 40/41 | €1,925,207 | €1,708,286 | -€216,921 | -11.3% |
| Trade receivables | 40 | €193 | €0 | -€193 | -100% |
| Other amounts receivable | 41 | €1,925,014 | €1,708,286 | -€216,727 | -11.3% |
| Current investments | 50/53 | €2,908,751 | €2,665,366 | -€243,385 | -8.4% |
| Cash at bank and in hand | 54/58 | €612,602 | €675,562 | +€62,961 | +10.3% |
| Deferred charges and accrued income | 490/1 | €2,850 | €2,973 | +€123 | +4.3% |
| Total equity and liabilities | 10/49 | €10,249,913 | €10,283,113 | +€33,200 | +0.3% |
| Equity | 10/15 | €9,505,409 | €9,462,445 | -€42,965 | -0.5% |
| Contributions | 10/11 | €8,475,000 | €8,475,000 | = | 0.0% |
| Capital | 10 | €8,475,000 | €8,475,000 | = | 0.0% |
| Issued capital | 100 | €8,475,000 | €8,475,000 | = | 0.0% |
| Revaluation surpluses | 12 | €118,434 | €118,434 | = | 0.0% |
| Reserves | 13 | €911,053 | €868,089 | -€42,965 | -4.7% |
| Non-distributable reserves | 130/1 | €451,766 | €469,557 | +€17,791 | +3.9% |
| Legal reserve | 130 | €451,766 | €469,557 | +€17,791 | +3.9% |
| Tax-exempt reserves | 132 | €459,219 | €398,463 | -€60,756 | -13.2% |
| Distributable reserves | 133 | €68 | €68 | = | 0.0% |
| Profit (loss) carried forward | 14 | €922 | €922 | = | 0.0% |
| Provisions and deferred taxes | 16 | €191,217 | €165,697 | -€25,521 | -13.3% |
| Deferred taxes | 168 | €191,217 | €165,697 | -€25,521 | -13.3% |
| Amounts payable | 17/49 | €553,286 | €654,972 | +€101,686 | +18.4% |
| Amounts payable within one year | 42/48 | €553,286 | €654,972 | +€101,686 | +18.4% |
| Trade debts | 44 | €17,500 | €168,645 | +€151,146 | +864% |
| Suppliers | 440/4 | €17,500 | €168,645 | +€151,146 | +864% |
| Taxes, remuneration and social security | 45 | €58,196 | €27,389 | -€30,807 | -52.9% |
| Taxes | 450/3 | €48,984 | €13,512 | -€35,472 | -72.4% |
| Remuneration and social security | 454/9 | €9,212 | €13,877 | +€4,665 | +50.6% |
| Other amounts payable | 47/48 | €477,591 | €458,937 | -€18,654 | -3.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €75,678 | €91,421 | +€15,743 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325,260 | €335,458 | +€10,199 | +3.1% |
| Other operating charges | 640/8 | €87,138 | €83,431 | -€3,707 | -4.3% |
| Non-recurring operating charges | 66A | €8 | €0 | -€8 | -100% |
| Gross operating margin | 9900 | €712,486 | €708,019 | -€4,467 | -0.6% |
| Operating profit (loss) | 9901 | €224,402 | €197,709 | -€26,694 | -11.9% |
| Financial income | 75/76B | €163,853 | €176,848 | +€12,995 | +7.9% |
| Recurring financial income | 75 | €163,853 | €176,848 | +€12,995 | +7.9% |
| Financial charges | 65/66B | -€13,633 | -€9,712 | +€3,921 | +28.8% |
| Recurring financial charges | 65 | -€13,633 | -€9,712 | +€3,921 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | €401,888 | €384,269 | -€17,620 | -4.4% |
| Transfer from deferred taxes | 780 | €24,396 | €25,521 | +€1,124 | +4.6% |
| Income taxes | 67/77 | €116,957 | €114,722 | -€2,235 | -1.9% |
| Profit (loss) for the period | 9904 | €309,328 | €295,067 | -€14,261 | -4.6% |
| Transfer from tax-exempt reserves | 789 | €58,080 | €60,756 | +€2,676 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €367,407 | €355,823 | -€11,585 | -3.2% |
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 14 October 2026 via checked.be.