DESIMMO: 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
DESIMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€138,851
2024 · -€59,322-€79,529
Equity
€501,649
2024 · €640,500-€138,851
Cash
€24,301
2024 · €7,695+€16,606
Balance sheet total
€5.5m
2024 · €4.8m+€676,078
Largest movements
Assets
- Tangible fixed assets +€531,730
up €531,730 (+11.6%), from €4.6m to €5.1m
of which Land and buildings: +€535,940
- Receivables within one year +€130,000
up €130,000 (+1,285%), from €10,115 to €140,115
Equity and liabilities
- Debts after one year +€425,531
up €425,531 (+12.0%), from €3.5m to €4.0m
- Current portion of long-term debt +€296,096
up €296,096 (+280%), from €105,698 to €401,794
- Profit (loss) carried forward -€129,705
down €129,705 (-259%), from -€50,048 to -€179,753
- Other debts +€94,383
up €94,383 (+28.5%), from €331,597 to €425,979
Income statement
- Other operating charges +€79,002
up €79,002 (+406%), from €19,436 to €98,438
- Gross operating margin +€67,358
up €67,358 (+21.5%), from €312,961 to €380,319
- Depreciation +€25,436
up €25,436 (+10.3%), from €247,821 to €273,257
- Financial charges +€23,171
up €23,171 (+20.4%), from €113,556 to €136,727
- Write-downs +€15,680
new in 2025: €15,680
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
-€59,322
Gross operating margin
+€67,358
Depreciation
-€25,436
Write-downs
-€15,680
Other operating charges
-€79,002
Financial income
-€3,652
Financial charges
-€23,171
Taxes
+€54
Result 2025
-€138,851
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
+€96,690
Investment
-€801,712
Financing
+€721,628
Cash 2024
€7,695
From operations (derived)
+€96,690
Net result for the year
-€138,851
Depreciation
+€273,257
Receivables within one year
-€130,000
Deferred charges and accrued income
-€1,017
Provisions
-€4,428
Trade debts
-€2,654
Tax, wage and social debts
+€3,000
Other debts
+€94,383
Accrued charges and deferred income
+€3,001
Investment (derived)
-€801,712
Investment in fixed assets (net)
-€801,712
Financing
+€721,628
Debts after one year
+€425,531
Current portion of long-term debt
+€296,096
Cash 2025
€24,301
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,792,128 | €5,468,205 | +€676,078 | +14.1% |
| Formation expenses | 20 | €19,651 | €16,276 | -€3,375 | -17.2% |
| Fixed assets | 21/28 | €4,750,429 | €5,282,259 | +€531,830 | +11.2% |
| Tangible fixed assets | 22/27 | €4,574,929 | €5,106,659 | +€531,730 | +11.6% |
| Land and buildings | 22 | €4,530,737 | €5,066,677 | +€535,940 | +11.8% |
| Furniture and vehicles | 24 | €42,692 | €29,582 | -€13,111 | -30.7% |
| Other tangible fixed assets | 26 | €1,500 | €10,400 | +€8,900 | +593% |
| Financial fixed assets | 28 | €175,500 | €175,600 | +€100 | +0.1% |
| Current assets | 29/58 | €22,048 | €169,671 | +€147,623 | +670% |
| Amounts receivable within one year | 40/41 | €10,115 | €140,115 | +€130,000 | +1,285% |
| Other amounts receivable | 41 | €10,115 | €140,115 | +€130,000 | +1,285% |
| Cash at bank and in hand | 54/58 | €7,695 | €24,301 | +€16,606 | +216% |
| Deferred charges and accrued income | 490/1 | €4,237 | €5,254 | +€1,017 | +24.0% |
| Total equity and liabilities | 10/49 | €4,792,128 | €5,468,205 | +€676,078 | +14.1% |
| Equity | 10/15 | €640,500 | €501,649 | -€138,851 | -21.7% |
| Contributions | 10/11 | €332,808 | €332,808 | = | 0.0% |
| Capital | 10 | €332,808 | €332,808 | = | 0.0% |
| Issued capital | 100 | €332,808 | €332,808 | = | 0.0% |
| Reserves | 13 | €357,740 | €348,594 | -€9,146 | -2.6% |
| Tax-exempt reserves | 132 | €140,740 | €131,594 | -€9,146 | -6.5% |
| Distributable reserves | 133 | €217,000 | €217,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,048 | -€179,753 | -€129,705 | -259% |
| Provisions and deferred taxes | 16 | €65,198 | €60,770 | -€4,428 | -6.8% |
| Deferred taxes | 168 | €65,198 | €60,770 | -€4,428 | -6.8% |
| Amounts payable | 17/49 | €4,086,430 | €4,905,787 | +€819,357 | +20.1% |
| Amounts payable after more than one year | 17 | €3,535,894 | €3,961,425 | +€425,531 | +12.0% |
| Financial debts | 170/4 | €3,535,894 | €3,961,425 | +€425,531 | +12.0% |
| Amounts payable within one year | 42/48 | €445,869 | €836,693 | +€390,825 | +87.7% |
| Current portion of amounts payable after more than one year | 42 | €105,698 | €401,794 | +€296,096 | +280% |
| Trade debts | 44 | €5,054 | €2,399 | -€2,654 | -52.5% |
| Suppliers | 440/4 | €5,054 | €2,399 | -€2,654 | -52.5% |
| Taxes, remuneration and social security | 45 | €3,520 | €6,520 | +€3,000 | +85.2% |
| Taxes | 450/3 | €3,520 | €6,520 | +€3,000 | +85.2% |
| Other amounts payable | 47/48 | €331,597 | €425,979 | +€94,383 | +28.5% |
| Accrued charges and deferred income | 492/3 | €104,668 | €107,669 | +€3,001 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,821 | €273,257 | +€25,436 | +10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,680 | +€15,680 | |
| Other operating charges | 640/8 | €19,436 | €98,438 | +€79,002 | +406% |
| Gross operating margin | 9900 | €312,961 | €380,319 | +€67,358 | +21.5% |
| Operating profit (loss) | 9901 | €45,704 | -€7,056 | -€52,760 | |
| Financial income | 75/76B | €4,329 | €677 | -€3,652 | -84.4% |
| Recurring financial income | 75 | €4,329 | €677 | -€3,652 | -84.4% |
| Financial charges | 65/66B | €113,556 | €136,727 | +€23,171 | +20.4% |
| Recurring financial charges | 65 | €113,556 | €136,727 | +€23,171 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | -€63,523 | -€143,106 | -€79,583 | -125% |
| Transfer from deferred taxes | 780 | €4,428 | €4,428 | = | 0.0% |
| Income taxes | 67/77 | €227 | €173 | -€54 | -23.8% |
| Profit (loss) for the period | 9904 | -€59,322 | -€138,851 | -€79,529 | -134% |
| Transfer from tax-exempt reserves | 789 | €9,146 | €9,146 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,176 | -€129,705 | -€79,529 | -158% |
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 14 October 2026 via checked.be.