De Clercq Property: 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.
De Clercq Property
Largest movements
- Tangible fixed assets +€2.4m
up €2.4m (+89.4%), from €2.7m to €5.1m
of which Land and buildings: +€2.4m
- Financial fixed assets +€2.0m
new in 2025: €2.0m
- Stocks and contracts +€223,956
up €223,956 (+20.5%), from €1.1m to €1.3m
- Debts after one year +€3.9m
up €3.9m (+140%), from €2.8m to €6.6m
of which Financial debts: +€3.9m
- Profit (loss) carried forward +€302,439
up €302,439 (+919%), from €32,906 to €335,345
- Current portion of long-term debt +€278,010
up €278,010 (+199%), from €139,433 to €417,443
- Other debts -€211,669
down €211,669 (-38.3%), from €551,975 to €340,306
- Reserves +€208,181
up €208,181 (+121%), from €171,757 to €379,938
of which Tax-exempt reserves: +€157,095
- Financial income +€351,202
up €351,202 (+29,803%), from €1,178 to €352,380
- Financial charges +€94,324
up €94,324 (+78.4%), from €120,248 to €214,572
- Depreciation +€65,640
up €65,640 (+116%), from €56,348 to €121,987
- Gross operating margin +€19,116
up €19,116 (+7.0%), from €272,620 to €291,736
- Other operating charges +€10,710
up €10,710 (+76.1%), from €14,067 to €24,777
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,853,240 | €8,506,280 | +€4.7m | +121% |
| Fixed assets | 21/28 | €2,667,951 | €7,034,062 | +€4.4m | +164% |
| Tangible fixed assets | 22/27 | €2,667,951 | €5,053,571 | +€2.4m | +89.4% |
| Land and buildings | 22 | €2,667,951 | €5,051,552 | +€2.4m | +89.3% |
| Plant, machinery and equipment | 23 | - | €2,018 | +€2,018 | |
| Financial fixed assets | 28 | - | €1,980,491 | +€2.0m | |
| Current assets | 29/58 | €1,185,289 | €1,472,218 | +€286,929 | +24.2% |
| Stocks and contracts in progress | 3 | €1,093,488 | €1,317,444 | +€223,956 | +20.5% |
| Stocks | 30/36 | €1,093,488 | €1,317,444 | +€223,956 | +20.5% |
| Amounts receivable within one year | 40/41 | €80,717 | €132,708 | +€51,991 | +64.4% |
| Trade receivables | 40 | - | €101,991 | +€101,991 | |
| Other amounts receivable | 41 | €80,717 | €30,717 | -€50,000 | -61.9% |
| Cash at bank and in hand | 54/58 | €11,084 | €15,035 | +€3,951 | +35.6% |
| Deferred charges and accrued income | 490/1 | - | €7,031 | +€7,031 | |
| Total equity and liabilities | 10/49 | €3,853,240 | €8,506,280 | +€4.7m | +121% |
| Equity | 10/15 | €298,263 | €827,484 | +€529,221 | +177% |
| Contributions | 10/11 | €93,600 | €112,200 | +€18,600 | +19.9% |
| Reserves | 13 | €171,757 | €379,938 | +€208,181 | +121% |
| Tax-exempt reserves | 132 | €171,757 | €328,852 | +€157,095 | +91.5% |
| Distributable reserves | 133 | - | €51,087 | +€51,087 | |
| Profit (loss) carried forward | 14 | €32,906 | €335,345 | +€302,439 | +919% |
| Provisions and deferred taxes | 16 | €57,252 | €109,617 | +€52,365 | +91.5% |
| Deferred taxes | 168 | €57,252 | €109,617 | +€52,365 | +91.5% |
| Amounts payable | 17/49 | €3,497,725 | €7,569,179 | +€4.1m | +116% |
| Amounts payable after more than one year | 17 | €2,768,398 | €6,637,609 | +€3.9m | +140% |
| Financial debts | 170/4 | €2,747,838 | €6,598,267 | +€3.9m | +140% |
| Other amounts payable | 178/9 | €20,560 | €39,343 | +€18,783 | +91.4% |
| Amounts payable within one year | 42/48 | €706,547 | €876,018 | +€169,470 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €139,433 | €417,443 | +€278,010 | +199% |
| Trade debts | 44 | €12,787 | €115,088 | +€102,301 | +800% |
| Suppliers | 440/4 | €12,787 | €115,088 | +€102,301 | +800% |
| Taxes, remuneration and social security | 45 | €2,353 | €3,181 | +€829 | +35.2% |
| Taxes | 450/3 | €2,353 | €3,181 | +€829 | +35.2% |
| Other amounts payable | 47/48 | €551,975 | €340,306 | -€211,669 | -38.3% |
| Accrued charges and deferred income | 492/3 | €22,779 | €55,552 | +€32,773 | +144% |
| Non-recurring operating income | 76A | €108,877 | €0 | -€108,877 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,348 | €121,987 | +€65,640 | +116% |
| Other operating charges | 640/8 | €14,067 | €24,777 | +€10,710 | +76.1% |
| Gross operating margin | 9900 | €272,620 | €291,736 | +€19,116 | +7.0% |
| Operating profit (loss) | 9901 | €202,205 | €144,972 | -€57,234 | -28.3% |
| Financial income | 75/76B | €1,178 | €352,380 | +€351,202 | +29,803% |
| Recurring financial income | 75 | €1,178 | €352,380 | +€351,202 | +29,803% |
| Financial charges | 65/66B | €120,248 | €214,572 | +€94,324 | +78.4% |
| Recurring financial charges | 65 | €120,248 | €214,572 | +€94,324 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | €83,136 | €282,780 | +€199,644 | +240% |
| Transfer from deferred taxes | 780 | €992 | €3,035 | +€2,043 | +206% |
| Transfer to deferred taxes | 680 | €27,219 | €0 | -€27,219 | -100% |
| Profit (loss) for the period | 9904 | €56,909 | €285,815 | +€228,906 | +402% |
| Transfer from tax-exempt reserves | 789 | €2,975 | €9,104 | +€6,130 | +206% |
| Transfer to tax-exempt reserves | 689 | €81,658 | €0 | -€81,658 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,774 | €294,919 | +€316,694 |
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 24 October 2026 via checked.be.