DREAMS IMMO: 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
DREAMS IMMO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€135,791
2024 · €68,451+€67,340
Equity
€21.4m
2024 · €1.1m+€20.3m
Cash
€274,652
2024 · €95,132+€179,521
Balance sheet total
€48.1m
2024 · €10.4m+€37.7m
Largest movements
Assets
- Tangible fixed assets +€21.6m
up €21.6m (+222%), from €9.7m to €31.3m
of which Land and buildings: +€19.4m
- Receivables after one year +€15.6m
new in 2025: €15.6m
Equity and liabilities
- Revaluation surpluses +€20.2m
new in 2025: €20.2m
- Debts after one year +€15.4m
up €15.4m (+197%), from €7.8m to €23.2m
- Current portion of long-term debt +€1.4m
up €1.4m (+182%), from €775,683 to €2.2m
- Other debts +€629,270
up €629,270 (+1,376%), from €45,730 to €675,000
Income statement
- Financial charges +€287,199
up €287,199 (+234%), from €122,849 to €410,048
- Financial income +€252,236
up €252,236, from €0 to €252,236
- Depreciation -€76,095
down €76,095 (-7.4%), from €1.0m to €950,904
- Gross operating margin +€27,786
up €27,786 (+2.1%), from €1.3m to €1.3m
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
€68,451
Gross operating margin
+€27,786
Depreciation
+€76,095
Other operating charges
-€1,578
Financial income
+€252,236
Financial charges
-€287,199
Result 2025
€135,791
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
-€14.2m
Investment
-€22.5m
Financing
+€36.9m
Cash 2024
€95,132
From operations (derived)
-€14.2m
Net result for the year
+€135,791
Depreciation
+€950,904
Receivables after one year
-€15.6m
Receivables within one year
-€344,744
Smaller working-capital items
+€8,604
Other debts
+€629,270
Investment (derived)
-€22.5m
Investment in fixed assets (net)
-€22.5m
Financing
+€36.9m
Debts after one year
+€15.4m
Current portion of long-term debt
+€1.4m
Contributions, distributions and other
+€20.2m
Cash 2025
€274,652
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,415,985 | €48,126,305 | +€37.7m | +362% |
| Fixed assets | 21/28 | €9,723,630 | €31,289,927 | +€21.6m | +222% |
| Tangible fixed assets | 22/27 | €9,722,105 | €31,288,402 | +€21.6m | +222% |
| Land and buildings | 22 | €8,074,068 | €27,470,160 | +€19.4m | +240% |
| Plant, machinery and equipment | 23 | €504,207 | €350,950 | -€153,256 | -30.4% |
| Furniture and vehicles | 24 | €47,400 | €32,818 | -€14,582 | -30.8% |
| Leasing and similar rights | 25 | €51,802 | €25,499 | -€26,303 | -50.8% |
| Assets under construction and advance payments | 27 | €1,044,628 | €3,408,974 | +€2.4m | +226% |
| Financial fixed assets | 28 | €1,525 | €1,525 | = | 0.0% |
| Current assets | 29/58 | €692,355 | €16,836,378 | +€16.1m | +2,332% |
| Amounts receivable after more than one year | 29 | - | €15,622,786 | +€15.6m | |
| Other amounts receivable | 291 | - | €15,622,786 | +€15.6m | |
| Amounts receivable within one year | 40/41 | €588,203 | €932,946 | +€344,744 | +58.6% |
| Trade receivables | 40 | €580,000 | €0 | -€580,000 | -100% |
| Other amounts receivable | 41 | €8,203 | €932,946 | +€924,744 | +11,274% |
| Cash at bank and in hand | 54/58 | €95,132 | €274,652 | +€179,521 | +189% |
| Deferred charges and accrued income | 490/1 | €9,021 | €5,994 | -€3,028 | -33.6% |
| Total equity and liabilities | 10/49 | €10,415,985 | €48,126,305 | +€37.7m | +362% |
| Equity | 10/15 | €1,102,431 | €21,391,078 | +€20.3m | +1,840% |
| Contributions | 10/11 | €2,265,000 | €2,265,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €20,152,855 | +€20.2m | |
| Reserves | 13 | €370,721 | €370,721 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €370,721 | €370,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,533,290 | -€1,397,498 | +€135,791 | +8.9% |
| Amounts payable | 17/49 | €9,313,554 | €26,735,227 | +€17.4m | +187% |
| Amounts payable after more than one year | 17 | €7,821,517 | €23,193,580 | +€15.4m | +197% |
| Financial debts | 170/4 | €7,821,517 | €23,193,580 | +€15.4m | +197% |
| Amounts payable within one year | 42/48 | €1,492,038 | €3,541,647 | +€2.0m | +137% |
| Current portion of amounts payable after more than one year | 42 | €775,683 | €2,190,447 | +€1.4m | +182% |
| Trade debts | 44 | €670,624 | €676,200 | +€5,576 | +0.8% |
| Suppliers | 440/4 | €670,624 | €676,200 | +€5,576 | +0.8% |
| Other amounts payable | 47/48 | €45,730 | €675,000 | +€629,270 | +1,376% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,026,999 | €950,904 | -€76,095 | -7.4% |
| Other operating charges | 640/8 | €74,139 | €75,718 | +€1,578 | +2.1% |
| Gross operating margin | 9900 | €1,292,439 | €1,320,225 | +€27,786 | +2.1% |
| Operating profit (loss) | 9901 | €191,301 | €293,603 | +€102,303 | +53.5% |
| Financial income | 75/76B | €0 | €252,236 | +€252,236 | |
| Recurring financial income | 75 | €0 | €252,236 | +€252,236 | |
| Financial charges | 65/66B | €122,849 | €410,048 | +€287,199 | +234% |
| Recurring financial charges | 65 | €122,849 | €410,048 | +€287,199 | +234% |
| Profit (loss) for the period before taxes | 9903 | €68,451 | €135,791 | +€67,340 | +98.4% |
| Profit (loss) for the period | 9904 | €68,451 | €135,791 | +€67,340 | +98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,451 | €135,791 | +€67,340 | +98.4% |
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.