DUX/PROPERTY: 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
DUX/PROPERTY
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,398
2024 · €14,198+€5,200
Equity
€514,505
2024 · €495,107+€19,398
Cash
€64,185
2024 · €60,323+€3,862
Balance sheet total
€1.3m
2024 · €1.3m-€44,009
Largest movements
Assets
- Tangible fixed assets -€47,789
down €47,789 (-4.1%), from €1.2m to €1.1m
of which Land and buildings: -€66,254
Equity and liabilities
- Debts after one year -€45,890
down €45,890 (-6.6%), from €693,915 to €648,025
- Reserves +€19,137
up €19,137 (+5.3%), from €361,494 to €380,632
of which Distributable reserves: +€37,000
- Tax, wage and social debts -€14,909
down €14,909 (-96.8%), from €15,409 to €500
of which Taxes: -€14,909
Income statement
- Gross operating margin +€7,443
up €7,443 (+7.4%), from €101,025 to €108,468
- Taxes +€2,252
up €2,252 (+14.9%), from €15,102 to €17,354
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
€14,198
Gross operating margin
+€7,443
Depreciation
-€775
Other operating charges
-€31
Financial income
-€27
Financial charges
+€842
Taxes
-€2,252
Result 2025
€19,398
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
+€67,638
Investment
-€18,812
Financing
-€44,964
Cash 2024
€60,323
From operations (derived)
+€67,638
Net result for the year
+€19,398
Depreciation
+€66,601
Receivables within one year
+€491
Deferred charges and accrued income
-€410
Provisions
-€7,503
Trade debts
+€3,970
Tax, wage and social debts
-€14,909
Investment (derived)
-€18,812
Investment in fixed assets (net)
-€18,812
Financing
-€44,964
Debts after one year
-€45,890
Current portion of long-term debt
+€926
Cash 2025
€64,185
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,343,066 | €1,299,058 | -€44,009 | -3.3% |
| Fixed assets | 21/28 | €1,155,088 | €1,107,299 | -€47,789 | -4.1% |
| Tangible fixed assets | 22/27 | €1,154,513 | €1,106,724 | -€47,789 | -4.1% |
| Land and buildings | 22 | €1,154,513 | €1,088,259 | -€66,254 | -5.7% |
| Plant, machinery and equipment | 23 | - | €18,465 | +€18,465 | |
| Financial fixed assets | 28 | €575 | €575 | = | 0.0% |
| Current assets | 29/58 | €187,979 | €191,759 | +€3,780 | +2.0% |
| Amounts receivable within one year | 40/41 | €125,786 | €125,295 | -€491 | -0.4% |
| Trade receivables | 40 | - | €1,147 | +€1,147 | |
| Other amounts receivable | 41 | €125,786 | €124,148 | -€1,638 | -1.3% |
| Cash at bank and in hand | 54/58 | €60,323 | €64,185 | +€3,862 | +6.4% |
| Deferred charges and accrued income | 490/1 | €1,869 | €2,279 | +€410 | +21.9% |
| Total equity and liabilities | 10/49 | €1,343,066 | €1,299,058 | -€44,009 | -3.3% |
| Equity | 10/15 | €495,107 | €514,505 | +€19,398 | +3.9% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €361,494 | €380,632 | +€19,137 | +5.3% |
| Tax-exempt reserves | 132 | €222,494 | €204,632 | -€17,863 | -8.0% |
| Distributable reserves | 133 | €139,000 | €176,000 | +€37,000 | +26.6% |
| Profit (loss) carried forward | 14 | €132,413 | €132,674 | +€261 | +0.2% |
| Provisions and deferred taxes | 16 | €93,459 | €85,956 | -€7,503 | -8.0% |
| Deferred taxes | 168 | €93,459 | €85,956 | -€7,503 | -8.0% |
| Amounts payable | 17/49 | €754,500 | €698,597 | -€55,903 | -7.4% |
| Amounts payable after more than one year | 17 | €693,915 | €648,025 | -€45,890 | -6.6% |
| Financial debts | 170/4 | €693,915 | €648,025 | -€45,890 | -6.6% |
| Amounts payable within one year | 42/48 | €60,585 | €50,571 | -€10,014 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €44,964 | €45,890 | +€926 | +2.1% |
| Trade debts | 44 | - | €3,970 | +€3,970 | |
| Suppliers | 440/4 | - | €3,970 | +€3,970 | |
| Taxes, remuneration and social security | 45 | €15,409 | €500 | -€14,909 | -96.8% |
| Taxes | 450/3 | €14,909 | - | -€14,909 | |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | €212 | €212 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,826 | €66,601 | +€775 | +1.2% |
| Other operating charges | 640/8 | €1,093 | €1,123 | +€31 | +2.8% |
| Gross operating margin | 9900 | €101,025 | €108,468 | +€7,443 | +7.4% |
| Operating profit (loss) | 9901 | €34,107 | €40,744 | +€6,637 | +19.5% |
| Financial income | 75/76B | €3,353 | €3,326 | -€27 | -0.8% |
| Recurring financial income | 75 | €3,353 | €3,326 | -€27 | -0.8% |
| Financial charges | 65/66B | €15,664 | €14,821 | -€842 | -5.4% |
| Recurring financial charges | 65 | €15,664 | €14,821 | -€842 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €21,796 | €29,249 | +€7,452 | +34.2% |
| Transfer from deferred taxes | 780 | €7,503 | €7,503 | = | 0.0% |
| Income taxes | 67/77 | €15,102 | €17,354 | +€2,252 | +14.9% |
| Profit (loss) for the period | 9904 | €14,198 | €19,398 | +€5,200 | +36.6% |
| Transfer from tax-exempt reserves | 789 | €17,863 | €17,863 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,061 | €37,261 | +€5,200 | +16.2% |
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 16 October 2026 via checked.be.