DE TOEKOMST: 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 TOEKOMST
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,216
2024 · €61,516-€50,300
Equity
€2.0m
2024 · €2.0m+€11,216
Cash
€18,003
2024 · €10,668+€7,334
Balance sheet total
€4.9m
2024 · €5.0m-€104,704
Largest movements
Assets
- Tangible fixed assets -€56,524
down €56,524 (-1.3%), from €4.4m to €4.4m
of which Land and buildings: -€121,279
- Current investments -€55,000
down €55,000 (-10.8%), from €511,000 to €456,000
Equity and liabilities
- Debts after one year -€145,567
down €145,567 (-7.1%), from €2.0m to €1.9m
Income statement
- Gross operating margin -€40,317
down €40,317 (-15.8%), from €254,967 to €214,650
- Taxes +€35,959
up €35,959 (+9,122%), from €394 to €36,353
- Financial income +€23,857
up €23,857 (+235%), from €10,157 to €34,014
- Financial charges -€14,660
down €14,660 (-20.2%), from €72,418 to €57,758
- Depreciation +€11,633
up €11,633 (+8.9%), from €130,669 to €142,301
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
€61,516
Gross operating margin
-€40,317
Depreciation
-€11,633
Other operating charges
-€908
Financial income
+€23,857
Financial charges
+€14,660
Taxes
-€35,959
Result 2025
€11,216
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
+€158,517
Investment
-€30,778
Financing
-€120,405
Cash 2024
€10,668
From operations (derived)
+€158,517
Net result for the year
+€11,216
Depreciation
+€142,301
Receivables within one year
+€1,083
Deferred charges and accrued income
-€568
Provisions
-€23,266
Trade debts
+€15,094
Tax, wage and social debts
+€13,769
Advances received
+€512
Other debts
-€1,624
Investment (derived)
-€30,778
Investment in fixed assets (net)
-€85,778
Current investments
+€55,000
Financing
-€120,405
Debts after one year
-€145,567
Current portion of long-term debt
+€25,162
Cash 2025
€18,003
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,966,140 | €4,861,435 | -€104,704 | -2.1% |
| Fixed assets | 21/28 | €4,443,335 | €4,386,812 | -€56,524 | -1.3% |
| Tangible fixed assets | 22/27 | €4,443,335 | €4,386,812 | -€56,524 | -1.3% |
| Land and buildings | 22 | €4,442,266 | €4,320,987 | -€121,279 | -2.7% |
| Furniture and vehicles | 24 | €1,070 | €65,825 | +€64,755 | +6,054% |
| Current assets | 29/58 | €522,804 | €474,624 | -€48,181 | -9.2% |
| Amounts receivable within one year | 40/41 | €1,136 | €53 | -€1,083 | -95.3% |
| Trade receivables | 40 | €53 | €53 | +€0 | +0.5% |
| Other amounts receivable | 41 | €1,084 | €0 | -€1,084 | -100% |
| Current investments | 50/53 | €511,000 | €456,000 | -€55,000 | -10.8% |
| Cash at bank and in hand | 54/58 | €10,668 | €18,003 | +€7,334 | +68.8% |
| Deferred charges and accrued income | 490/1 | €0 | €568 | +€568 | |
| Total equity and liabilities | 10/49 | €4,966,140 | €4,861,435 | -€104,704 | -2.1% |
| Equity | 10/15 | €1,986,815 | €1,998,032 | +€11,216 | +0.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,985,722 | €1,996,032 | +€10,310 | +0.5% |
| Tax-exempt reserves | 132 | €1,985,722 | €1,915,924 | -€69,798 | -3.5% |
| Distributable reserves | 133 | - | €80,108 | +€80,108 | |
| Profit (loss) carried forward | 14 | -€906 | €0 | +€906 | |
| Provisions and deferred taxes | 16 | €661,907 | €638,641 | -€23,266 | -3.5% |
| Deferred taxes | 168 | €661,907 | €638,641 | -€23,266 | -3.5% |
| Amounts payable | 17/49 | €2,317,417 | €2,224,762 | -€92,655 | -4.0% |
| Amounts payable after more than one year | 17 | €2,045,027 | €1,899,460 | -€145,567 | -7.1% |
| Financial debts | 170/4 | €2,045,027 | €1,899,460 | -€145,567 | -7.1% |
| Amounts payable within one year | 42/48 | €272,390 | €325,302 | +€52,912 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €182,603 | €207,766 | +€25,162 | +13.8% |
| Trade debts | 44 | €2,629 | €17,722 | +€15,094 | +574% |
| Suppliers | 440/4 | €2,629 | €17,722 | +€15,094 | +574% |
| Advances received on contracts in progress | 46 | €12,471 | €12,982 | +€512 | +4.1% |
| Taxes, remuneration and social security | 45 | - | €13,769 | +€13,769 | |
| Taxes | 450/3 | - | €13,769 | +€13,769 | |
| Other amounts payable | 47/48 | €74,687 | €73,063 | -€1,624 | -2.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,669 | €142,301 | +€11,633 | +8.9% |
| Other operating charges | 640/8 | €23,393 | €24,302 | +€908 | +3.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €254,967 | €214,650 | -€40,317 | -15.8% |
| Operating profit (loss) | 9901 | €100,905 | €48,047 | -€52,858 | -52.4% |
| Financial income | 75/76B | €10,157 | €34,014 | +€23,857 | +235% |
| Recurring financial income | 75 | €10,157 | €34,014 | +€23,857 | +235% |
| Financial charges | 65/66B | €72,418 | €57,758 | -€14,660 | -20.2% |
| Recurring financial charges | 65 | €72,418 | €57,758 | -€14,660 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €38,645 | €24,303 | -€14,342 | -37.1% |
| Transfer from deferred taxes | 780 | €23,266 | €23,266 | = | 0.0% |
| Income taxes | 67/77 | €394 | €36,353 | +€35,959 | +9,122% |
| Profit (loss) for the period | 9904 | €61,516 | €11,216 | -€50,300 | -81.8% |
| Transfer from tax-exempt reserves | 789 | €69,798 | €69,798 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €131,314 | €81,014 | -€50,300 | -38.3% |
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 20 October 2026 via checked.be.