DUCHESS REAL ESTATE DEVELOPMENT: 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.
DUCHESS REAL ESTATE DEVELOPMENT
Largest movements
- Tangible fixed assets +€11,892
up €11,892 (+1.9%), from €634,596 to €646,488
of which Assets under construction and advance payments: +€11,892
- Other debts +€68,500
up €68,500 (+101%), from €68,000 to €136,500
- Profit (loss) carried forward -€44,269
down €44,269 (-46.6%), from -€95,030 to -€139,299
- Gross operating margin +€12,459
up €12,459 (+62.6%), from -€19,908 to -€7,449
- Other operating charges +€6,008
up €6,008 (+211%), from €2,845 to €8,852
- Financial charges +€3,333
up €3,333 (+13.5%), from €24,655 to €27,987
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €936,245 | €958,641 | +€22,396 | +2.4% |
| Fixed assets | 21/28 | €634,596 | €646,488 | +€11,892 | +1.9% |
| Tangible fixed assets | 22/27 | €634,596 | €646,488 | +€11,892 | +1.9% |
| Land and buildings | 22 | €530,396 | €530,396 | = | 0.0% |
| Assets under construction and advance payments | 27 | €104,200 | €116,092 | +€11,892 | +11.4% |
| Current assets | 29/58 | €301,649 | €312,153 | +€10,504 | +3.5% |
| Amounts receivable within one year | 40/41 | €301,649 | €307,887 | +€6,238 | +2.1% |
| Trade receivables | 40 | €950 | - | -€950 | |
| Other amounts receivable | 41 | €300,699 | €307,887 | +€7,188 | +2.4% |
| Cash at bank and in hand | 54/58 | - | €3,737 | +€3,737 | |
| Deferred charges and accrued income | 490/1 | - | €528 | +€528 | |
| Total equity and liabilities | 10/49 | €936,245 | €958,641 | +€22,396 | +2.4% |
| Equity | 10/15 | -€92,530 | -€136,799 | -€44,269 | -47.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,030 | -€139,299 | -€44,269 | -46.6% |
| Amounts payable | 17/49 | €1,028,775 | €1,095,440 | +€66,665 | +6.5% |
| Amounts payable within one year | 42/48 | €1,028,775 | €1,095,440 | +€66,665 | +6.5% |
| Financial debts | 43 | €945,049 | €950,000 | +€4,951 | +0.5% |
| Credit institutions | 430/8 | €445,049 | €440,000 | -€5,049 | -1.1% |
| Other loans | 439 | €500,000 | €510,000 | +€10,000 | +2.0% |
| Trade debts | 44 | €15,725 | €8,940 | -€6,786 | -43.2% |
| Suppliers | 440/4 | €15,725 | €8,940 | -€6,786 | -43.2% |
| Other amounts payable | 47/48 | €68,000 | €136,500 | +€68,500 | +101% |
| Other operating charges | 640/8 | €2,845 | €8,852 | +€6,008 | +211% |
| Gross operating margin | 9900 | -€19,908 | -€7,449 | +€12,459 | +62.6% |
| Operating profit (loss) | 9901 | -€22,753 | -€16,302 | +€6,451 | +28.4% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €24,655 | €27,987 | +€3,333 | +13.5% |
| Recurring financial charges | 65 | €24,655 | €27,987 | +€3,333 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€47,407 | -€44,269 | +€3,139 | +6.6% |
| Profit (loss) for the period | 9904 | -€47,407 | -€44,269 | +€3,139 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,407 | -€44,269 | +€3,139 | +6.6% |
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 1 November 2026 via checked.be.