DONA: what changed
Two fiscal 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
DONA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€49,615
2024 · €23,310+€26,306
Equity
€11.7m
2024 · €11.7m+€4,615
Cash
€151,795
2024 · €841,967-€690,172
Balance sheet total
€13.0m
2024 · €12.2m+€794,969
Largest movements
Assets
- Tangible fixed assets +€1.8m
up €1.8m (+50.3%), from €3.6m to €5.3m
of which Land and buildings: +€1.8m
- Cash -€690,172
down €690,172 (-82.0%), from €841,967 to €151,795
mainly Investment in fixed assets (net) (-€2.0m) and Contributions, distributions and other (-€45,000)
- Current investments -€326,821
down €326,821 (-14.5%), from €2.3m to €1.9m
Equity and liabilities
- Debts after one year +€719,660
up €719,660 (+427.3%), from €168,431 to €888,092
of which Financial debts: +€731,667
Income statement
- Gross operating margin +€93,052
up €93,052 (+123.0%), from €75,679 to €168,731
- Depreciation +€21,152
up €21,152 (+9.4%), from €225,497 to €246,649
- Financial charges +€20,553
up €20,553 (+290.0%), from €7,087 to €27,640
- Other operating charges +€5,245
up €5,245 (+23.3%), from €22,555 to €27,800
- Financial income +€4,042
up €4,042 (+2.1%), from €190,614 to €194,656
of which Financial income: +€4,792
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
€23,310
Gross operating margin
+€93,052
Staff costs
+€153
Depreciation
-€21,152
Other operating charges
-€5,245
Other operating items
-€23,554
Financial income
+€4,042
Financial charges
-€20,553
Taxes
-€437
Result 2025
€49,615
Cash bridge derived
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
+€277,930
Investment
-€1.7m
Financing
+€739,657
Cash 2024
€841,967
From operations (derived)
+€277,930
Net result for the year
+€49,615
Depreciation
+€246,649
Receivables within one year
-€21,665
Smaller working-capital items
+€487
Provisions
-€13,087
Trade debts
+€15,930
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€2.0m
Current investments
+€326,821
Financing
+€739,657
Debts after one year
+€719,660
Current portion of long-term debt
+€64,999
Short-term financial debts
-€3
Contributions, distributions and other
-€45,000
Cash 2025
€151,795
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,204,360 | €12,999,329 | +€794,969 | +6.5% |
| Fixed assets | 21/28 | €9,052,094 | €10,840,024 | +€1.8m | +19.8% |
| Intangible fixed assets | 21 | - | €2,221 | +€2,221 | |
| Tangible fixed assets | 22/27 | €3,552,842 | €5,338,551 | +€1.8m | +50.3% |
| Land and buildings | 22 | €3,413,406 | €5,227,092 | +€1.8m | +53.1% |
| Plant, machinery and equipment | 23 | €18,294 | €17,770 | -€524 | -2.9% |
| Furniture and vehicles | 24 | €121,142 | €93,690 | -€27,452 | -22.7% |
| Financial fixed assets | 28 | €5,499,252 | €5,499,252 | = | 0.0% |
| Current assets | 29/58 | €3,152,266 | €2,159,304 | -€992,962 | -31.5% |
| Amounts receivable within one year | 40/41 | €44,206 | €65,871 | +€21,665 | +49.0% |
| Trade receivables | 40 | €2,516 | - | -€2,516 | |
| Other amounts receivable | 41 | €41,690 | €65,871 | +€24,181 | +58.0% |
| Current investments | 50/53 | €2,259,037 | €1,932,216 | -€326,821 | -14.5% |
| Cash at bank and in hand | 54/58 | €841,967 | €151,795 | -€690,172 | -82.0% |
| Deferred charges and accrued income | 490/1 | €7,056 | €9,422 | +€2,366 | +33.5% |
| Total equity and liabilities | 10/49 | €12,204,360 | €12,999,329 | +€794,969 | +6.5% |
| Equity | 10/15 | €11,683,013 | €11,687,629 | +€4,615 | 0.0% |
| Contributions | 10/11 | €198,000 | €198,000 | = | 0.0% |
| Revaluation surpluses | 12 | €5,325,726 | €5,325,726 | = | 0.0% |
| Reserves | 13 | €6,159,287 | €6,163,902 | +€4,615 | +0.1% |
| Non-distributable reserves | 130/1 | €34,800 | €34,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34,800 | €34,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €435,536 | €415,905 | -€19,631 | -4.5% |
| Distributable reserves | 133 | €5,688,951 | €5,713,197 | +€24,247 | +0.4% |
| Provisions and deferred taxes | 16 | €282,737 | €269,650 | -€13,087 | -4.6% |
| Deferred taxes | 168 | €282,737 | €269,650 | -€13,087 | -4.6% |
| Amounts payable | 17/49 | €238,609 | €1,042,050 | +€803,440 | +336.7% |
| Amounts payable after more than one year | 17 | €168,431 | €888,092 | +€719,660 | +427.3% |
| Financial debts | 170/4 | €134,444 | €866,111 | +€731,667 | +544.2% |
| Other amounts payable | 178/9 | €33,987 | €21,981 | -€12,006 | -35.3% |
| Amounts payable within one year | 42/48 | €70,178 | €153,958 | +€83,780 | +119.4% |
| Current portion of amounts payable after more than one year | 42 | €43,334 | €108,333 | +€64,999 | +150.0% |
| Financial debts | 43 | €3 | - | -€3 | |
| Credit institutions | 430/8 | €3 | - | -€3 | |
| Trade debts | 44 | €9,166 | €25,096 | +€15,930 | +173.8% |
| Suppliers | 440/4 | €9,166 | €25,096 | +€15,930 | +173.8% |
| Taxes, remuneration and social security | 45 | €2,725 | €5,579 | +€2,854 | +104.7% |
| Taxes | 450/3 | €2,725 | €5,579 | +€2,854 | +104.7% |
| Other amounts payable | 47/48 | €14,950 | €14,950 | = | 0.0% |
| Non-recurring operating income | 76A | €2,715 | €10,000 | +€7,285 | +268.3% |
| Remuneration, social security and pensions | 62 | €153 | - | -€153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225,497 | €246,649 | +€21,152 | +9.4% |
| Other operating charges | 640/8 | €22,555 | €27,800 | +€5,245 | +23.3% |
| Non-recurring operating charges | 66A | - | €23,554 | +€23,554 | |
| Gross operating margin | 9900 | €75,679 | €168,731 | +€93,052 | +123.0% |
| Operating profit (loss) | 9901 | -€172,526 | -€129,273 | +€43,254 | +25.1% |
| Financial income | 75/76B | €190,614 | €194,656 | +€4,042 | +2.1% |
| Recurring financial income | 75 | €189,864 | €194,656 | +€4,792 | +2.5% |
| Non-recurring financial income | 76B | €750 | - | -€750 | |
| Financial charges | 65/66B | €7,087 | €27,640 | +€20,553 | +290.0% |
| Recurring financial charges | 65 | €7,087 | €27,640 | +€20,553 | +290.0% |
| Profit (loss) for the period before taxes | 9903 | €11,001 | €37,743 | +€26,742 | +243.1% |
| Transfer from deferred taxes | 780 | €13,087 | €13,087 | = | 0.0% |
| Income taxes | 67/77 | €778 | €1,215 | +€437 | +56.1% |
| Profit (loss) for the period | 9904 | €23,310 | €49,615 | +€26,306 | +112.9% |
| Transfer from tax-exempt reserves | 789 | €19,631 | €19,631 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,941 | €69,247 | +€26,306 | +61.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.