DI TESTA ROSSA: 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
DI TESTA ROSSA
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
-€18,893
2024 · -€44,740+€25,848
Equity
€786,359
2024 · €805,251-€18,893
Cash
€431,680
2024 · €473,277-€41,597
Balance sheet total
€1.9m
2024 · €2.1m-€137,022
Largest movements
Assets
- Current investments -€56,051
down €56,051 (-45.5%), from €123,097 to €67,046
- Tangible fixed assets -€51,688
down €51,688 (-3.6%), from €1.5m to €1.4m
of which Land and buildings: -€47,328
- Cash -€41,597
down €41,597 (-8.8%), from €473,277 to €431,680
mainly Debts after one year (-€97,217) and Net result for the year (-€18,893)
Equity and liabilities
- Debts after one year -€97,217
down €97,217 (-9.9%), from €982,189 to €884,971
Income statement
- Financial charges -€46,380
down €46,380 (-63.1%), from €73,506 to €27,126
- Gross operating margin -€40,566
down €40,566 (-38.2%), from €106,209 to €65,643
- Depreciation -€32,939
down €32,939 (-35.5%), from €92,703 to €59,764
- Taxes +€4,335
up €4,335 (+139%), from €3,122 to €7,458
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
-€44,740
Gross operating margin
-€40,566
Depreciation
+€32,939
Other operating charges
-€189
Financial income
-€744
Financial charges
+€46,380
Taxes
-€4,335
Deferred taxes and other
-€7,638
Result 2025
-€18,893
raises the resultlowers the resultnot broken down further in the accounts
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
-€3,084
Investment
+€47,976
Financing
-€86,488
Cash 2024
€473,277
From operations (derived)
-€3,084
Net result for the year
-€18,893
Depreciation
+€59,764
Receivables within one year
-€12,437
Deferred charges and accrued income
+€123
Provisions
-€15,275
Trade debts
-€16,302
Tax, wage and social debts
-€616
Other debts
+€552
Investment (derived)
+€47,976
Investment in fixed assets (net)
-€8,076
Current investments
+€56,051
Financing
-€86,488
Debts after one year
-€97,217
Current portion of long-term debt
+€10,729
Cash 2025
€431,680
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,068,507 | €1,931,485 | -€137,022 | -6.6% |
| Fixed assets | 21/28 | €1,451,606 | €1,399,918 | -€51,688 | -3.6% |
| Tangible fixed assets | 22/27 | €1,451,606 | €1,399,918 | -€51,688 | -3.6% |
| Land and buildings | 22 | €1,433,258 | €1,385,930 | -€47,328 | -3.3% |
| Plant, machinery and equipment | 23 | €18,348 | €13,988 | -€4,360 | -23.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €616,901 | €531,567 | -€85,334 | -13.8% |
| Amounts receivable within one year | 40/41 | €19,753 | €32,190 | +€12,437 | +63.0% |
| Trade receivables | 40 | - | €10,900 | +€10,900 | |
| Other amounts receivable | 41 | €19,753 | €21,290 | +€1,538 | +7.8% |
| Current investments | 50/53 | €123,097 | €67,046 | -€56,051 | -45.5% |
| Cash at bank and in hand | 54/58 | €473,277 | €431,680 | -€41,597 | -8.8% |
| Deferred charges and accrued income | 490/1 | €774 | €651 | -€123 | -15.9% |
| Total equity and liabilities | 10/49 | €2,068,507 | €1,931,485 | -€137,022 | -6.6% |
| Equity | 10/15 | €805,251 | €786,359 | -€18,893 | -2.3% |
| Contributions | 10/11 | €62,221 | €62,221 | = | 0.0% |
| Capital | 10 | €62,221 | €62,221 | = | 0.0% |
| Issued capital | 100 | €62,221 | €62,221 | = | 0.0% |
| Reserves | 13 | €743,030 | €724,138 | -€18,893 | -2.5% |
| Non-distributable reserves | 130/1 | €48,747 | €48,747 | = | 0.0% |
| Legal reserve | 130 | €48,747 | €48,747 | = | 0.0% |
| Tax-exempt reserves | 132 | €439,461 | €404,474 | -€34,988 | -8.0% |
| Distributable reserves | 133 | €254,822 | €270,917 | +€16,095 | +6.3% |
| Provisions and deferred taxes | 16 | €169,827 | €154,552 | -€15,275 | -9.0% |
| Deferred taxes | 168 | €169,827 | €154,552 | -€15,275 | -9.0% |
| Amounts payable | 17/49 | €1,093,429 | €990,575 | -€102,854 | -9.4% |
| Amounts payable after more than one year | 17 | €982,189 | €884,971 | -€97,217 | -9.9% |
| Financial debts | 170/4 | €982,189 | €884,971 | -€97,217 | -9.9% |
| Amounts payable within one year | 42/48 | €111,240 | €105,603 | -€5,637 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €83,682 | €94,411 | +€10,729 | +12.8% |
| Trade debts | 44 | €18,174 | €1,872 | -€16,302 | -89.7% |
| Suppliers | 440/4 | €18,174 | €1,872 | -€16,302 | -89.7% |
| Taxes, remuneration and social security | 45 | €4,301 | €3,685 | -€616 | -14.3% |
| Taxes | 450/3 | €4,301 | €3,685 | -€616 | -14.3% |
| Other amounts payable | 47/48 | €5,084 | €5,636 | +€552 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,703 | €59,764 | -€32,939 | -35.5% |
| Other operating charges | 640/8 | €8,502 | €8,691 | +€189 | +2.2% |
| Gross operating margin | 9900 | €106,209 | €65,643 | -€40,566 | -38.2% |
| Operating profit (loss) | 9901 | €5,004 | -€2,811 | -€7,816 | |
| Financial income | 75/76B | €3,971 | €3,227 | -€744 | -18.7% |
| Recurring financial income | 75 | €3,971 | €3,227 | -€744 | -18.7% |
| Financial charges | 65/66B | €73,506 | €27,126 | -€46,380 | -63.1% |
| Recurring financial charges | 65 | €73,506 | €27,126 | -€46,380 | -63.1% |
| Profit (loss) for the period before taxes | 9903 | -€64,531 | -€26,710 | +€37,821 | +58.6% |
| Transfer from deferred taxes | 780 | €22,913 | €15,275 | -€7,638 | -33.3% |
| Income taxes | 67/77 | €3,122 | €7,458 | +€4,335 | +139% |
| Profit (loss) for the period | 9904 | -€44,740 | -€18,893 | +€25,848 | +57.8% |
| Transfer from tax-exempt reserves | 789 | €52,481 | €34,988 | -€17,494 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,741 | €16,095 | +€8,354 | +108% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.