Downtown Development: what changed
Downtown Development
Largest movements
- Receivables within one year -€3.6m
down €3.6m (-89.1%), from €4.0m to €435,498
of which Other amounts receivable: -€3.3m
- Financial fixed assets +€3.3m
up €3.3m (+57.1%), from €5.8m to €9.1m
- Cash +€125,092
up €125,092 (+6.0%), from €2.1m to €2.2m
mainly Receivables within one year (+€3.6m) and Accrued charges and deferred income (+€501,395)
- Profit (loss) carried forward -€502,995
down €502,995 (-27.6%), from €1.8m to €1.3m
- Accrued charges and deferred income +€501,395
up €501,395 (+49.0%), from €1.0m to €1.5m
- Trade debts -€170,606
down €170,606 (-46.2%), from €369,139 to €198,532
- Financial income -€507,415
down €507,415 (-100.0%), from €507,482 to €68
- Gross operating margin +€258,721
up €258,721, from -€145,729 to €112,992
- Staff costs +€35,921
up €35,921 (+52.8%), from €67,984 to €103,905
- Other operating charges -€28,135
down €28,135 (-89.8%), from €31,341 to €3,206
- Financial charges -€3,960
down €3,960 (-0.8%), from €506,135 to €502,176
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,975,289 | €11,828,549 | -€146,740 | -1.2% |
| Fixed assets | 21/28 | €5,827,965 | €9,145,201 | +€3.3m | +56.9% |
| Tangible fixed assets | 22/27 | €18,949 | €16,702 | -€2,247 | -11.9% |
| Plant, machinery and equipment | 23 | €9,425 | €10,029 | +€603 | +6.4% |
| Furniture and vehicles | 24 | €9,524 | €6,673 | -€2,851 | -29.9% |
| Financial fixed assets | 28 | €5,809,015 | €9,128,499 | +€3.3m | +57.1% |
| Current assets | 29/58 | €6,147,325 | €2,683,348 | -€3.5m | -56.3% |
| Amounts receivable within one year | 40/41 | €3,989,143 | €435,498 | -€3.6m | -89.1% |
| Trade receivables | 40 | €692,234 | €434,543 | -€257,691 | -37.2% |
| Other amounts receivable | 41 | €3,296,909 | €955 | -€3.3m | -100.0% |
| Cash at bank and in hand | 54/58 | €2,099,876 | €2,224,968 | +€125,092 | +6.0% |
| Deferred charges and accrued income | 490/1 | €58,306 | €22,883 | -€35,423 | -60.8% |
| Total equity and liabilities | 10/49 | €11,975,289 | €11,828,549 | -€146,740 | -1.2% |
| Equity | 10/15 | €2,073,172 | €1,570,176 | -€502,995 | -24.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,823,172 | €1,320,176 | -€502,995 | -27.6% |
| Amounts payable | 17/49 | €9,902,118 | €10,258,373 | +€356,255 | +3.6% |
| Amounts payable after more than one year | 17 | €8,500,000 | €8,500,000 | = | 0.0% |
| Financial debts | 170/4 | €8,500,000 | €8,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €378,356 | €233,217 | -€145,140 | -38.4% |
| Trade debts | 44 | €369,139 | €198,532 | -€170,606 | -46.2% |
| Suppliers | 440/4 | €369,139 | €198,532 | -€170,606 | -46.2% |
| Taxes, remuneration and social security | 45 | €9,218 | €34,684 | +€25,466 | +276% |
| Taxes | 450/3 | €0 | €25,269 | +€25,269 | |
| Remuneration and social security | 454/9 | €9,218 | €9,415 | +€197 | +2.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,023,761 | €1,525,156 | +€501,395 | +49.0% |
| Remuneration, social security and pensions | 62 | €67,984 | €103,905 | +€35,921 | +52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,471 | €6,769 | +€298 | +4.6% |
| Other operating charges | 640/8 | €31,341 | €3,206 | -€28,135 | -89.8% |
| Gross operating margin | 9900 | -€145,729 | €112,992 | +€258,721 | |
| Operating profit (loss) | 9901 | -€251,525 | -€888 | +€250,637 | +99.6% |
| Financial income | 75/76B | €507,482 | €68 | -€507,415 | -100.0% |
| Recurring financial income | 75 | €507,482 | €68 | -€507,415 | -100.0% |
| Financial charges | 65/66B | €506,135 | €502,176 | -€3,960 | -0.8% |
| Recurring financial charges | 65 | €506,135 | €502,176 | -€3,960 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€250,177 | -€502,995 | -€252,818 | -101% |
| Profit (loss) for the period | 9904 | -€250,177 | -€502,995 | -€252,818 | -101% |
| Profit (loss) for the period to be appropriated | 9905 | -€250,177 | -€502,995 | -€252,818 | -101% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.