De Drie Koningen: 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
De Drie Koningen
NACE 55.203, Holiday cottages, homes and apartments
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€53,078
2024 · €43,063+€10,015
Equity
€256,752
2024 · €203,674+€53,078
Cash
€26,041
2024 · €244+€25,796
Balance sheet total
€3.2m
2024 · €3.3m-€65,533
Largest movements
Assets
- Tangible fixed assets -€71,298
down €71,298 (-2.2%), from €3.3m to €3.2m
Equity and liabilities
- Debts after one year -€75,144
down €75,144 (-4.4%), from €1.7m to €1.6m
- Other debts -€65,000
down €65,000 (-5.4%), from €1.2m to €1.1m
- Reserves +€53,078
up €53,078 (+26.1%), from €203,673 to €256,751
Income statement
- Other operating charges -€54,558
down €54,558 (-73.4%), from €74,333 to €19,775
- Financial charges +€49,765
up €49,765 (+88.5%), from €56,235 to €106,000
- Gross operating margin +€49,420
up €49,420 (+13.8%), from €359,134 to €408,554
- Depreciation +€38,413
up €38,413 (+23.0%), from €166,977 to €205,390
- Taxes +€5,528
up €5,528 (+29.3%), from €18,859 to €24,387
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
€43,063
Gross operating margin
+€49,420
Depreciation
-€38,413
Other operating charges
+€54,558
Financial income
-€257
Financial charges
-€49,765
Taxes
-€5,528
Result 2025
€53,078
raises the resultlowers the result
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
+€209,542
Investment
-€125,125
Financing
-€58,620
Cash 2024
€244
From operations (derived)
+€209,542
Net result for the year
+€53,078
Depreciation
+€205,390
Smaller working-capital items
-€570
Receivables within one year
+€11,634
Trade debts
-€11,142
Tax, wage and social debts
+€5,139
Other debts
-€65,000
Accrued charges and deferred income
+€11,012
Investment (derived)
-€125,125
Investment in fixed assets (net)
-€125,125
Financing
-€58,620
Debts after one year
-€75,144
Current portion of long-term debt
+€18,527
Short-term financial debts
-€2,003
Cash 2025
€26,041
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,298,455 | €3,232,922 | -€65,533 | -2.0% |
| Fixed assets | 21/28 | €3,272,643 | €3,192,378 | -€80,265 | -2.5% |
| Intangible fixed assets | 21 | €17,935 | €8,967 | -€8,967 | -50.0% |
| Tangible fixed assets | 22/27 | €3,254,708 | €3,183,410 | -€71,298 | -2.2% |
| Land and buildings | 22 | €3,051,960 | €3,017,342 | -€34,618 | -1.1% |
| Plant, machinery and equipment | 23 | €68,956 | €63,404 | -€5,552 | -8.1% |
| Furniture and vehicles | 24 | €133,792 | €102,665 | -€31,128 | -23.3% |
| Current assets | 29/58 | €25,812 | €40,544 | +€14,732 | +57.1% |
| Stocks and contracts in progress | 3 | €976 | €1,297 | +€322 | +33.0% |
| Stocks | 30/36 | €976 | €1,297 | +€322 | +33.0% |
| Amounts receivable within one year | 40/41 | €15,855 | €4,221 | -€11,634 | -73.4% |
| Trade receivables | 40 | €736 | €1,143 | +€407 | +55.3% |
| Other amounts receivable | 41 | €15,119 | €3,078 | -€12,041 | -79.6% |
| Cash at bank and in hand | 54/58 | €244 | €26,041 | +€25,796 | +10,561% |
| Deferred charges and accrued income | 490/1 | €8,737 | €8,985 | +€248 | +2.8% |
| Total equity and liabilities | 10/49 | €3,298,455 | €3,232,922 | -€65,533 | -2.0% |
| Equity | 10/15 | €203,674 | €256,752 | +€53,078 | +26.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €203,673 | €256,751 | +€53,078 | +26.1% |
| Distributable reserves | 133 | €203,673 | €256,751 | +€53,078 | +26.1% |
| Amounts payable | 17/49 | €3,094,781 | €2,976,170 | -€118,611 | -3.8% |
| Amounts payable after more than one year | 17 | €1,710,450 | €1,635,306 | -€75,144 | -4.4% |
| Financial debts | 170/4 | €1,710,450 | €1,635,306 | -€75,144 | -4.4% |
| Amounts payable within one year | 42/48 | €1,361,200 | €1,306,721 | -€54,479 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €113,924 | €132,451 | +€18,527 | +16.3% |
| Financial debts | 43 | €2,003 | - | -€2,003 | |
| Credit institutions | 430/8 | €2,003 | - | -€2,003 | |
| Trade debts | 44 | €24,475 | €13,333 | -€11,142 | -45.5% |
| Suppliers | 440/4 | €24,475 | €13,333 | -€11,142 | -45.5% |
| Taxes, remuneration and social security | 45 | €14,959 | €20,099 | +€5,139 | +34.4% |
| Taxes | 450/3 | €14,959 | €20,099 | +€5,139 | +34.4% |
| Other amounts payable | 47/48 | €1,205,838 | €1,140,838 | -€65,000 | -5.4% |
| Accrued charges and deferred income | 492/3 | €23,131 | €34,143 | +€11,012 | +47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,977 | €205,390 | +€38,413 | +23.0% |
| Other operating charges | 640/8 | €74,333 | €19,775 | -€54,558 | -73.4% |
| Gross operating margin | 9900 | €359,134 | €408,554 | +€49,420 | +13.8% |
| Operating profit (loss) | 9901 | €117,824 | €183,389 | +€65,565 | +55.6% |
| Financial income | 75/76B | €333 | €76 | -€257 | -77.1% |
| Recurring financial income | 75 | €333 | €76 | -€257 | -77.1% |
| Financial charges | 65/66B | €56,235 | €106,000 | +€49,765 | +88.5% |
| Recurring financial charges | 65 | €56,235 | €106,000 | +€49,765 | +88.5% |
| Profit (loss) for the period before taxes | 9903 | €61,922 | €77,465 | +€15,543 | +25.1% |
| Income taxes | 67/77 | €18,859 | €24,387 | +€5,528 | +29.3% |
| Profit (loss) for the period | 9904 | €43,063 | €53,078 | +€10,015 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,063 | €53,078 | +€10,015 | +23.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.