EDDY MANDELINGS: 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
EDDY MANDELINGS
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,078
2024 · -€47,858+€44,780
Equity
€490,221
2024 · €493,300-€3,078
Cash
€0
2024 · €3,902-€3,902
Balance sheet total
€3.0m
2024 · €3.2m-€109,131
Largest movements
Assets
- Tangible fixed assets -€106,640
down €106,640 (-5.3%), from €2.0m to €1.9m
of which Land and buildings: -€106,463
Equity and liabilities
- Debts after one year -€84,286
down €84,286 (-3.7%), from €2.3m to €2.2m
Income statement
- Gross operating margin +€49,915
up €49,915 (+35.6%), from €140,356 to €190,271
- Financial charges +€3,909
up €3,909 (+5.5%), from €70,797 to €74,706
- Depreciation +€1,998
up €1,998 (+1.8%), from €112,143 to €114,140
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
-€47,858
Gross operating margin
+€49,915
Depreciation
-€1,998
Other operating charges
+€742
Financial charges
-€3,909
Taxes
+€30
Result 2025
-€3,078
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
+€83,699
Investment
-€7,501
Financing
-€80,100
Cash 2024
€3,902
From operations (derived)
+€83,699
Net result for the year
-€3,078
Depreciation
+€114,140
Receivables within one year
-€1,249
Smaller working-capital items
-€460
Provisions
-€7,747
Trade debts
-€14,745
Tax, wage and social debts
-€3,162
Investment (derived)
-€7,501
Investment in fixed assets (net)
-€7,501
Financing
-€80,100
Debts after one year
-€84,286
Current portion of long-term debt
+€1,491
Short-term financial debts
+€2,694
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,156,926 | €3,047,795 | -€109,131 | -3.5% |
| Fixed assets | 21/28 | €2,021,479 | €1,914,840 | -€106,640 | -5.3% |
| Tangible fixed assets | 22/27 | €2,021,479 | €1,914,840 | -€106,640 | -5.3% |
| Land and buildings | 22 | €2,021,302 | €1,914,840 | -€106,463 | -5.3% |
| Plant, machinery and equipment | 23 | €177 | €0 | -€177 | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,135,446 | €1,132,955 | -€2,492 | -0.2% |
| Stocks and contracts in progress | 3 | €1,126,675 | €1,126,675 | = | 0.0% |
| Stocks | 30/36 | €1,126,675 | €1,126,675 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,674 | €2,922 | +€1,249 | +74.6% |
| Trade receivables | 40 | €1,285 | €2,568 | +€1,283 | +99.8% |
| Other amounts receivable | 41 | €388 | €354 | -€34 | -8.9% |
| Cash at bank and in hand | 54/58 | €3,902 | €0 | -€3,902 | -100% |
| Deferred charges and accrued income | 490/1 | €3,196 | €3,358 | +€162 | +5.1% |
| Total equity and liabilities | 10/49 | €3,156,926 | €3,047,795 | -€109,131 | -3.5% |
| Equity | 10/15 | €493,300 | €490,221 | -€3,078 | -0.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €461,757 | €446,258 | -€15,499 | -3.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €335,607 | €320,108 | -€15,499 | -4.6% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,957 | -€17,537 | +€12,420 | +41.5% |
| Provisions and deferred taxes | 16 | €168,066 | €160,319 | -€7,747 | -4.6% |
| Deferred taxes | 168 | €168,066 | €160,319 | -€7,747 | -4.6% |
| Amounts payable | 17/49 | €2,495,560 | €2,397,254 | -€98,306 | -3.9% |
| Amounts payable after more than one year | 17 | €2,251,334 | €2,167,048 | -€84,286 | -3.7% |
| Financial debts | 170/4 | €2,251,334 | €2,167,048 | -€84,286 | -3.7% |
| Amounts payable within one year | 42/48 | €238,305 | €224,325 | -€13,980 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €89,756 | €91,247 | +€1,491 | +1.7% |
| Financial debts | 43 | €90,000 | €92,694 | +€2,694 | +3.0% |
| Credit institutions | 430/8 | - | €2,694 | +€2,694 | |
| Other loans | 439 | €90,000 | €90,000 | = | 0.0% |
| Trade debts | 44 | €23,601 | €8,856 | -€14,745 | -62.5% |
| Suppliers | 440/4 | €23,601 | €8,856 | -€14,745 | -62.5% |
| Taxes, remuneration and social security | 45 | €5,415 | €2,253 | -€3,162 | -58.4% |
| Taxes | 450/3 | €2,899 | €2,253 | -€646 | -22.3% |
| Remuneration and social security | 454/9 | €2,516 | €0 | -€2,516 | -100% |
| Other amounts payable | 47/48 | €29,533 | €29,274 | -€259 | -0.9% |
| Accrued charges and deferred income | 492/3 | €5,921 | €5,882 | -€39 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,143 | €114,140 | +€1,998 | +1.8% |
| Other operating charges | 640/8 | €12,992 | €12,250 | -€742 | -5.7% |
| Gross operating margin | 9900 | €140,356 | €190,271 | +€49,915 | +35.6% |
| Operating profit (loss) | 9901 | €15,221 | €63,880 | +€48,659 | +320% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €70,797 | €74,706 | +€3,909 | +5.5% |
| Recurring financial charges | 65 | €70,797 | €74,706 | +€3,909 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€55,575 | -€10,826 | +€44,750 | +80.5% |
| Transfer from deferred taxes | 780 | €7,747 | €7,747 | = | 0.0% |
| Income taxes | 67/77 | €30 | €0 | -€30 | -100% |
| Profit (loss) for the period | 9904 | -€47,858 | -€3,078 | +€44,780 | +93.6% |
| Transfer from tax-exempt reserves | 789 | €15,499 | €15,499 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,360 | €12,420 | +€44,780 |
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 31 October 2026 via checked.be.