De Stijl: 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 Stijl
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€60,873
2024 · €63,474-€2,602
Equity
€487,242
2024 · €511,369-€24,127
Cash
€18,244
2024 · €37,413-€19,168
Balance sheet total
€2.9m
2024 · €3.3m-€362,925
Largest movements
Assets
- Tangible fixed assets -€184,655
down €184,655 (-6.2%), from €3.0m to €2.8m
of which Land and buildings: -€123,302
- Receivables within one year -€170,857
down €170,857 (-85.8%), from €199,150 to €28,294
of which Other amounts receivable: -€162,472
Equity and liabilities
- Debts after one year -€302,836
down €302,836 (-13.9%), from €2.2m to €1.9m
of which Financial debts: -€302,836
Income statement
- Taxes +€16,684
up €16,684 (+79.5%), from €20,987 to €37,670
- Financial charges -€16,620
down €16,620 (-16.0%), from €103,594 to €86,974
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
€63,474
Gross operating margin
+€1,082
Depreciation
+€1,180
Other operating charges
-€2,801
Financial income
-€2,000
Financial charges
+€16,620
Taxes
-€16,684
Result 2025
€60,873
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
+€402,764
Investment
-€10,810
Financing
-€411,122
Cash 2024
€37,413
From operations (derived)
+€402,764
Net result for the year
+€60,873
Depreciation
+€195,465
Receivables within one year
+€170,857
Deferred charges and accrued income
-€11,755
Provisions
-€10,224
Trade debts
-€28,403
Tax, wage and social debts
-€2,010
Other debts
+€27,962
Investment (derived)
-€10,810
Investment in fixed assets (net)
-€10,810
Financing
-€411,122
Debts after one year
-€302,836
Current portion of long-term debt
-€27,535
Short-term financial debts
+€4,249
Contributions, distributions and other
-€85,000
Cash 2025
€18,244
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,250,873 | €2,887,948 | -€362,925 | -11.2% |
| Fixed assets | 21/28 | €2,996,064 | €2,811,410 | -€184,655 | -6.2% |
| Tangible fixed assets | 22/27 | €2,996,064 | €2,811,410 | -€184,655 | -6.2% |
| Land and buildings | 22 | €2,658,033 | €2,534,731 | -€123,302 | -4.6% |
| Plant, machinery and equipment | 23 | €288,631 | €243,112 | -€45,520 | -15.8% |
| Furniture and vehicles | 24 | €49,400 | €33,567 | -€15,833 | -32.1% |
| Current assets | 29/58 | €254,808 | €76,538 | -€178,270 | -70.0% |
| Amounts receivable within one year | 40/41 | €199,150 | €28,294 | -€170,857 | -85.8% |
| Trade receivables | 40 | €33,033 | €24,648 | -€8,385 | -25.4% |
| Other amounts receivable | 41 | €166,117 | €3,646 | -€162,472 | -97.8% |
| Cash at bank and in hand | 54/58 | €37,413 | €18,244 | -€19,168 | -51.2% |
| Deferred charges and accrued income | 490/1 | €18,245 | €30,000 | +€11,755 | +64.4% |
| Total equity and liabilities | 10/49 | €3,250,873 | €2,887,948 | -€362,925 | -11.2% |
| Equity | 10/15 | €511,369 | €487,242 | -€24,127 | -4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €492,777 | €468,650 | -€24,127 | -4.9% |
| Tax-exempt reserves | 132 | €311,487 | €286,621 | -€24,866 | -8.0% |
| Distributable reserves | 133 | €181,290 | €182,029 | +€739 | +0.4% |
| Provisions and deferred taxes | 16 | €111,291 | €101,068 | -€10,224 | -9.2% |
| Deferred taxes | 168 | €111,291 | €101,068 | -€10,224 | -9.2% |
| Amounts payable | 17/49 | €2,628,212 | €2,299,638 | -€328,574 | -12.5% |
| Amounts payable after more than one year | 17 | €2,171,475 | €1,868,638 | -€302,836 | -13.9% |
| Financial debts | 170/4 | €2,150,475 | €1,847,638 | -€302,836 | -14.1% |
| Other amounts payable | 178/9 | €21,000 | €21,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €456,737 | €430,999 | -€25,738 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €330,371 | €302,836 | -€27,535 | -8.3% |
| Financial debts | 43 | - | €4,249 | +€4,249 | |
| Credit institutions | 430/8 | - | €4,249 | +€4,249 | |
| Trade debts | 44 | €28,403 | - | -€28,403 | |
| Suppliers | 440/4 | €28,403 | - | -€28,403 | |
| Taxes, remuneration and social security | 45 | €12,963 | €10,952 | -€2,010 | -15.5% |
| Taxes | 450/3 | €12,963 | €10,952 | -€2,010 | -15.5% |
| Other amounts payable | 47/48 | €85,000 | €112,962 | +€27,962 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,645 | €195,465 | -€1,180 | -0.6% |
| Other operating charges | 640/8 | €26,905 | €29,706 | +€2,801 | +10.4% |
| Gross operating margin | 9900 | €397,381 | €398,464 | +€1,082 | +0.3% |
| Operating profit (loss) | 9901 | €173,831 | €173,293 | -€538 | -0.3% |
| Financial income | 75/76B | €4,000 | €2,000 | -€2,000 | -50.0% |
| Recurring financial income | 75 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Financial charges | 65/66B | €103,594 | €86,974 | -€16,620 | -16.0% |
| Recurring financial charges | 65 | €103,594 | €86,974 | -€16,620 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €74,237 | €88,320 | +€14,082 | +19.0% |
| Transfer from deferred taxes | 780 | €10,224 | €10,224 | = | 0.0% |
| Income taxes | 67/77 | €20,987 | €37,670 | +€16,684 | +79.5% |
| Profit (loss) for the period | 9904 | €63,474 | €60,873 | -€2,602 | -4.1% |
| Transfer from tax-exempt reserves | 789 | €24,866 | €24,866 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €88,340 | €85,739 | -€2,602 | -2.9% |
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 23 October 2026 via checked.be.