D Real Estate: what changed
D Real Estate
Largest movements
- Cash +€50,333
up €50,333 (+11.2%), from €447,510 to €497,844
mainly Net result for the year (+€99,290) and Depreciation (+€16,416)
- Receivables within one year +€27,650
up €27,650 (+35.2%), from €78,569 to €106,219
of which Other amounts receivable: +€15,000
- Tangible fixed assets -€12,665
down €12,665 (-72.7%), from €17,417 to €4,752
of which Furniture and vehicles: -€13,297
- Reserves +€58,344
up €58,344 (+13.8%), from €421,469 to €479,813
- Tax, wage and social debts +€11,096
up €11,096 (+26.1%), from €42,505 to €53,601
of which Remuneration and social security: +€6,802
- Trade debts +€7,991
up €7,991 (+39.7%), from €20,104 to €28,096
- Staff costs +€31,488
up €31,488 (+18.5%), from €170,319 to €201,807
- Gross operating margin +€13,506
up €13,506 (+3.9%), from €344,360 to €357,866
- Depreciation +€11,541
up €11,541 (+237%), from €4,874 to €16,416
- Taxes -€9,913
down €9,913 (-19.2%), from €51,530 to €41,617
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €546,583 | €622,499 | +€75,916 | +13.9% |
| Fixed assets | 21/28 | €17,417 | €10,560 | -€6,857 | -39.4% |
| Intangible fixed assets | 21 | - | €5,808 | +€5,808 | |
| Tangible fixed assets | 22/27 | €17,417 | €4,752 | -€12,665 | -72.7% |
| Plant, machinery and equipment | 23 | €4,120 | €4,752 | +€632 | +15.3% |
| Furniture and vehicles | 24 | €13,297 | €0 | -€13,297 | -100% |
| Current assets | 29/58 | €529,166 | €611,939 | +€82,772 | +15.6% |
| Amounts receivable within one year | 40/41 | €78,569 | €106,219 | +€27,650 | +35.2% |
| Trade receivables | 40 | €78,569 | €91,219 | +€12,650 | +16.1% |
| Other amounts receivable | 41 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €447,510 | €497,844 | +€50,333 | +11.2% |
| Deferred charges and accrued income | 490/1 | €3,087 | €7,876 | +€4,789 | +155% |
| Total equity and liabilities | 10/49 | €546,583 | €622,499 | +€75,916 | +13.9% |
| Equity | 10/15 | €440,069 | €498,413 | +€58,344 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €421,469 | €479,813 | +€58,344 | +13.8% |
| Distributable reserves | 133 | €421,469 | €479,813 | +€58,344 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €106,515 | €124,086 | +€17,571 | +16.5% |
| Amounts payable within one year | 42/48 | €106,515 | €124,086 | +€17,571 | +16.5% |
| Trade debts | 44 | €20,104 | €28,096 | +€7,991 | +39.7% |
| Suppliers | 440/4 | €20,104 | €28,096 | +€7,991 | +39.7% |
| Taxes, remuneration and social security | 45 | €42,505 | €53,601 | +€11,096 | +26.1% |
| Taxes | 450/3 | €19,694 | €23,988 | +€4,294 | +21.8% |
| Remuneration and social security | 454/9 | €22,811 | €29,613 | +€6,802 | +29.8% |
| Other amounts payable | 47/48 | €43,905 | €42,390 | -€1,515 | -3.5% |
| Remuneration, social security and pensions | 62 | €170,319 | €201,807 | +€31,488 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,874 | €16,416 | +€11,541 | +237% |
| Other operating charges | 640/8 | €544 | €461 | -€83 | -15.2% |
| Gross operating margin | 9900 | €344,360 | €357,866 | +€13,506 | +3.9% |
| Operating profit (loss) | 9901 | €168,622 | €139,182 | -€29,440 | -17.5% |
| Financial income | 75/76B | €4,876 | €3,182 | -€1,694 | -34.7% |
| Recurring financial income | 75 | €4,876 | €3,182 | -€1,694 | -34.7% |
| Financial charges | 65/66B | €456 | €1,457 | +€1,001 | +220% |
| Recurring financial charges | 65 | €456 | €1,457 | +€1,001 | +220% |
| Profit (loss) for the period before taxes | 9903 | €173,043 | €140,907 | -€32,136 | -18.6% |
| Income taxes | 67/77 | €51,530 | €41,617 | -€9,913 | -19.2% |
| Profit (loss) for the period | 9904 | €121,513 | €99,290 | -€22,222 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,513 | €99,290 | -€22,222 | -18.3% |
Next steps
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 8 November 2026 via checked.be.