DCM EMBA Vastgoed: what changed
What changed
DCM EMBA Vastgoed
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€42,933
2024 · €66,620-€23,688
Equity
€599,777
2024 · €556,844+€42,933
Cash
€15,879
2024 · €0+€15,879
Balance sheet total
€2.1m
2024 · €2.1m-€32,367
Largest movements
Assets
- Tangible fixed assets -€102,343
down €102,343 (-6.4%), from €1.6m to €1.5m
of which Leasing and similar rights: -€56,341
- Receivables within one year +€54,097
up €54,097 (+15.2%), from €356,460 to €410,557
of which Other amounts receivable: +€28,847
Equity and liabilities
- Debts after one year -€111,081
down €111,081 (-15.6%), from €710,640 to €599,559
of which Financial debts: -€93,981
- Other debts +€53,981
up €53,981 (+9.6%), from €561,805 to €615,786
- Profit (loss) carried forward +€40,786
up €40,786 (+75.5%), from €54,002 to €94,788
Income statement
- Depreciation +€52,996
up €52,996 (+33.2%), from €159,791 to €212,788
- Gross operating margin +€18,644
up €18,644 (+5.7%), from €326,082 to €344,725
- Financial charges -€7,884
down €7,884 (-19.0%), from €41,569 to €33,685
- Taxes -€3,741
down €3,741 (-15.6%), from €24,000 to €20,259
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
€66,620
Gross operating margin
+€18,644
Depreciation
-€52,996
Other operating charges
-€621
Financial income
-€339
Financial charges
+€7,884
Taxes
+€3,741
Result 2025
€42,933
raises the resultlowers the result
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
+€256,122
Investment
-€110,444
Financing
-€129,798
Cash 2024
€0
From operations (derived)
+€256,122
Net result for the year
+€42,933
Depreciation
+€212,788
Receivables within one year
-€54,097
Trade debts
-€18,974
Tax, wage and social debts
+€19,492
Other debts
+€53,981
Investment (derived)
-€110,444
Investment in fixed assets (net)
-€110,444
Financing
-€129,798
Debts after one year
-€111,081
Current portion of long-term debt
-€11,017
Short-term financial debts
-€7,700
Cash 2025
€15,879
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,145,377 | €2,113,010 | -€32,367 | -1.5% |
| Fixed assets | 21/28 | €1,788,917 | €1,686,573 | -€102,343 | -5.7% |
| Tangible fixed assets | 22/27 | €1,588,917 | €1,486,573 | -€102,343 | -6.4% |
| Land and buildings | 22 | €992,159 | €977,139 | -€15,020 | -1.5% |
| Plant, machinery and equipment | 23 | €107,507 | €79,864 | -€27,644 | -25.7% |
| Furniture and vehicles | 24 | €23,075 | €19,737 | -€3,339 | -14.5% |
| Leasing and similar rights | 25 | €466,176 | €409,835 | -€56,341 | -12.1% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €356,460 | €426,436 | +€69,976 | +19.6% |
| Amounts receivable within one year | 40/41 | €356,460 | €410,557 | +€54,097 | +15.2% |
| Trade receivables | 40 | €47,155 | €72,405 | +€25,250 | +53.5% |
| Other amounts receivable | 41 | €309,305 | €338,152 | +€28,847 | +9.3% |
| Cash at bank and in hand | 54/58 | €0 | €15,879 | +€15,879 | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,145,377 | €2,113,010 | -€32,367 | -1.5% |
| Equity | 10/15 | €556,844 | €599,777 | +€42,933 | +7.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €2,842 | €4,989 | +€2,147 | +75.5% |
| Non-distributable reserves | 130/1 | €2,842 | €4,989 | +€2,147 | +75.5% |
| Legal reserve | 130 | €2,842 | €4,989 | +€2,147 | +75.5% |
| Profit (loss) carried forward | 14 | €54,002 | €94,788 | +€40,786 | +75.5% |
| Amounts payable | 17/49 | €1,588,532 | €1,513,233 | -€75,300 | -4.7% |
| Amounts payable after more than one year | 17 | €710,640 | €599,559 | -€111,081 | -15.6% |
| Financial debts | 170/4 | €671,225 | €577,244 | -€93,981 | -14.0% |
| Other amounts payable | 178/9 | €39,415 | €22,315 | -€17,100 | -43.4% |
| Amounts payable within one year | 42/48 | €875,142 | €910,924 | +€35,782 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €203,751 | €192,734 | -€11,017 | -5.4% |
| Financial debts | 43 | €7,700 | €0 | -€7,700 | -100% |
| Credit institutions | 430/8 | €7,700 | €0 | -€7,700 | -100% |
| Trade debts | 44 | €76,053 | €57,079 | -€18,974 | -24.9% |
| Suppliers | 440/4 | €76,053 | €57,079 | -€18,974 | -24.9% |
| Taxes, remuneration and social security | 45 | €25,833 | €45,325 | +€19,492 | +75.5% |
| Taxes | 450/3 | €25,833 | €45,325 | +€19,492 | +75.5% |
| Other amounts payable | 47/48 | €561,805 | €615,786 | +€53,981 | +9.6% |
| Accrued charges and deferred income | 492/3 | €2,750 | €2,750 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,791 | €212,788 | +€52,996 | +33.2% |
| Other operating charges | 640/8 | €34,440 | €35,061 | +€621 | +1.8% |
| Gross operating margin | 9900 | €326,082 | €344,725 | +€18,644 | +5.7% |
| Operating profit (loss) | 9901 | €131,850 | €96,876 | -€34,974 | -26.5% |
| Financial income | 75/76B | €339 | €0 | -€339 | -100% |
| Recurring financial income | 75 | €339 | €0 | -€339 | -100% |
| Financial charges | 65/66B | €41,569 | €33,685 | -€7,884 | -19.0% |
| Recurring financial charges | 65 | €41,569 | €33,685 | -€7,884 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €90,620 | €63,191 | -€27,429 | -30.3% |
| Income taxes | 67/77 | €24,000 | €20,259 | -€3,741 | -15.6% |
| Profit (loss) for the period | 9904 | €66,620 | €42,933 | -€23,688 | -35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €66,620 | €42,933 | -€23,688 | -35.6% |
Next steps
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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.