DRIEHOEK: 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
DRIEHOEK
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€29,200
2024 · €148,721-€119,521
Equity
€2.5m
2024 · €2.7m-€156,800
Cash
€5,922
2024 · €564+€5,358
Balance sheet total
€13.4m
2024 · €13.4m-€67,652
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+33.8%), from €3.0m to €4.0m
of which Other amounts receivable: +€1.2m
- Stocks and contracts -€688,195
down €688,195 (-13.1%), from €5.3m to €4.6m
- Tangible fixed assets -€387,951
down €387,951 (-7.4%), from €5.2m to €4.8m
of which Land and buildings: -€378,748
Equity and liabilities
- Short-term financial debts +€645,931
up €645,931 (+10.5%), from €6.1m to €6.8m
- Debts after one year -€362,749
down €362,749 (-10.4%), from €3.5m to €3.1m
Income statement
- Gross operating margin -€411,795
down €411,795 (-34.7%), from €1.2m to €776,358
- Write-downs +€300,000
new in 2025: €300,000
- Staff costs -€122,458
down €122,458 (-76.3%), from €160,475 to €38,017
- Financial charges -€114,883
down €114,883 (-22.5%), from €510,515 to €395,632
- Financial income +€50,973
up €50,973 (+70.7%), from €72,083 to €123,056
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
€148,721
Gross operating margin
-€411,795
Staff costs
+€122,458
Depreciation
+€9,017
Write-downs
-€300,000
Other operating charges
-€37,488
Other operating items
+€350,834
Financial income
+€50,973
Financial charges
+€114,883
Taxes
+€753
Deferred taxes and other
-€19,155
Result 2025
€29,200
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
-€317,923
Investment
+€258,121
Financing
+€65,161
Cash 2024
€564
From operations (derived)
-€317,923
Net result for the year
+€29,200
Depreciation
+€129,830
Stocks and contracts
+€688,195
Receivables within one year
-€1.0m
Smaller working-capital items
+€980
Provisions
-€23,277
Trade debts
-€52,716
Tax, wage and social debts
-€24,214
Other debts
-€62,503
Investment (derived)
+€258,121
Investment in fixed assets (net)
+€258,121
Financing
+€65,161
Debts after one year
-€362,749
Current portion of long-term debt
-€32,021
Short-term financial debts
+€645,931
Contributions, distributions and other
-€186,000
Cash 2025
€5,922
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,443,914 | €13,376,262 | -€67,652 | -0.5% |
| Fixed assets | 21/28 | €5,219,469 | €4,831,518 | -€387,951 | -7.4% |
| Tangible fixed assets | 22/27 | €5,219,469 | €4,831,518 | -€387,951 | -7.4% |
| Land and buildings | 22 | €5,097,381 | €4,718,633 | -€378,748 | -7.4% |
| Furniture and vehicles | 24 | €52,088 | €36,785 | -€15,303 | -29.4% |
| Other tangible fixed assets | 26 | €70,000 | €76,100 | +€6,100 | +8.7% |
| Current assets | 29/58 | €8,224,445 | €8,544,744 | +€320,299 | +3.9% |
| Stocks and contracts in progress | 3 | €5,255,180 | €4,566,985 | -€688,195 | -13.1% |
| Stocks | 30/36 | €5,255,180 | €4,566,985 | -€688,195 | -13.1% |
| Amounts receivable within one year | 40/41 | €2,967,073 | €3,970,491 | +€1.0m | +33.8% |
| Trade receivables | 40 | €181,966 | €2,101 | -€179,865 | -98.8% |
| Other amounts receivable | 41 | €2,785,107 | €3,968,390 | +€1.2m | +42.5% |
| Cash at bank and in hand | 54/58 | €564 | €5,922 | +€5,358 | +950.5% |
| Deferred charges and accrued income | 490/1 | €1,629 | €1,346 | -€283 | -17.3% |
| Total equity and liabilities | 10/49 | €13,443,914 | €13,376,262 | -€67,652 | -0.5% |
| Equity | 10/15 | €2,700,514 | €2,543,714 | -€156,800 | -5.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €96,000 | - | -€96,000 | |
| Reserves | 13 | €2,542,514 | €2,481,714 | -€60,800 | -2.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €976,625 | €906,794 | -€69,831 | -7.2% |
| Distributable reserves | 133 | €1,559,690 | €1,568,721 | +€9,031 | +0.6% |
| Provisions and deferred taxes | 16 | €325,542 | €302,265 | -€23,277 | -7.2% |
| Deferred taxes | 168 | €325,542 | €302,265 | -€23,277 | -7.2% |
| Amounts payable | 17/49 | €10,417,858 | €10,530,284 | +€112,425 | +1.1% |
| Amounts payable after more than one year | 17 | €3,484,335 | €3,121,586 | -€362,749 | -10.4% |
| Financial debts | 170/4 | €3,484,335 | €3,121,586 | -€362,749 | -10.4% |
| Amounts payable within one year | 42/48 | €6,927,983 | €7,402,459 | +€474,477 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €394,770 | €362,749 | -€32,021 | -8.1% |
| Financial debts | 43 | €6,149,353 | €6,795,284 | +€645,931 | +10.5% |
| Credit institutions | 430/8 | €6,149,353 | €6,795,284 | +€645,931 | +10.5% |
| Trade debts | 44 | €104,644 | €51,928 | -€52,716 | -50.4% |
| Suppliers | 440/4 | €104,644 | €51,928 | -€52,716 | -50.4% |
| Taxes, remuneration and social security | 45 | €26,713 | €2,499 | -€24,214 | -90.6% |
| Taxes | 450/3 | €3,477 | €1,036 | -€2,441 | -70.2% |
| Remuneration and social security | 454/9 | €23,236 | €1,463 | -€21,773 | -93.7% |
| Other amounts payable | 47/48 | €252,503 | €190,000 | -€62,503 | -24.8% |
| Accrued charges and deferred income | 492/3 | €5,541 | €6,239 | +€698 | +12.6% |
| Non-recurring operating income | 76A | - | €14,779 | +€14,779 | |
| Remuneration, social security and pensions | 62 | €160,475 | €38,017 | -€122,458 | -76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,847 | €129,830 | -€9,017 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €300,000 | +€300,000 | |
| Other operating charges | 640/8 | €31,811 | €69,299 | +€37,488 | +117.8% |
| Non-recurring operating charges | 66A | €311,405 | -€39,429 | -€350,834 | |
| Gross operating margin | 9900 | €1,188,154 | €776,358 | -€411,795 | -34.7% |
| Operating profit (loss) | 9901 | €545,615 | €278,641 | -€266,975 | -48.9% |
| Financial income | 75/76B | €72,083 | €123,056 | +€50,973 | +70.7% |
| Recurring financial income | 75 | €72,083 | €123,056 | +€50,973 | +70.7% |
| Financial charges | 65/66B | €510,515 | €395,632 | -€114,883 | -22.5% |
| Recurring financial charges | 65 | €510,515 | €395,632 | -€114,883 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €107,184 | €6,064 | -€101,120 | -94.3% |
| Transfer from deferred taxes | 780 | €42,432 | €23,277 | -€19,155 | -45.1% |
| Income taxes | 67/77 | €895 | €141 | -€753 | -84.2% |
| Profit (loss) for the period | 9904 | €148,721 | €29,200 | -€119,521 | -80.4% |
| Transfer from tax-exempt reserves | 789 | €127,296 | €69,831 | -€57,465 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €276,017 | €99,031 | -€176,986 | -64.1% |
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 10 October 2026 via checked.be.