ELEVATE Real Estate: 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.
ELEVATE Real Estate
Largest movements
- Tangible fixed assets -€51,313
down €51,313 (-7.4%), from €695,400 to €644,086
of which Land and buildings: -€49,044
- Profit (loss) carried forward -€34,497
down €34,497 (-35.2%), from -€98,048 to -€132,545
- Current portion of long-term debt -€21,628
down €21,628 (-3.5%), from €626,677 to €605,049
- Financial charges -€14,193
down €14,193 (-34.4%), from €41,275 to €27,082
- Gross operating margin -€10,010
down €10,010 (-17.3%), from €57,867 to €47,857
- Other operating charges +€1,344
up €1,344 (+56.6%), from €2,373 to €3,716
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 | €700,563 | €648,147 | -€52,417 | -7.5% |
| Formation expenses | 20 | €442 | €200 | -€242 | -54.7% |
| Fixed assets | 21/28 | €695,400 | €644,086 | -€51,313 | -7.4% |
| Tangible fixed assets | 22/27 | €695,400 | €644,086 | -€51,313 | -7.4% |
| Land and buildings | 22 | €687,675 | €638,631 | -€49,044 | -7.1% |
| Furniture and vehicles | 24 | €7,725 | €5,456 | -€2,270 | -29.4% |
| Current assets | 29/58 | €4,722 | €3,860 | -€862 | -18.3% |
| Amounts receivable within one year | 40/41 | €2,617 | €3,073 | +€456 | +17.4% |
| Other amounts receivable | 41 | €2,617 | €3,073 | +€456 | +17.4% |
| Cash at bank and in hand | 54/58 | €1,959 | €633 | -€1,325 | -67.7% |
| Deferred charges and accrued income | 490/1 | €147 | €154 | +€7 | +5.0% |
| Total equity and liabilities | 10/49 | €700,563 | €648,147 | -€52,417 | -7.5% |
| Equity | 10/15 | -€86,048 | -€120,545 | -€34,497 | -40.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Capital | 10 | €12,000 | €12,000 | = | 0.0% |
| Issued capital | 100 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,048 | -€132,545 | -€34,497 | -35.2% |
| Amounts payable | 17/49 | €786,612 | €768,691 | -€17,920 | -2.3% |
| Amounts payable after more than one year | 17 | €155,500 | €155,500 | = | 0.0% |
| Financial debts | 170/4 | €155,500 | €155,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €631,112 | €613,191 | -€17,920 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €626,677 | €605,049 | -€21,628 | -3.5% |
| Trade debts | 44 | €1,898 | €5,256 | +€3,358 | +177% |
| Suppliers | 440/4 | €1,898 | €5,256 | +€3,358 | +177% |
| Other amounts payable | 47/48 | €2,536 | €2,886 | +€350 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,227 | €51,555 | +€328 | +0.6% |
| Other operating charges | 640/8 | €2,373 | €3,716 | +€1,344 | +56.6% |
| Gross operating margin | 9900 | €57,867 | €47,857 | -€10,010 | -17.3% |
| Operating profit (loss) | 9901 | €4,267 | -€7,415 | -€11,682 | |
| Financial charges | 65/66B | €41,275 | €27,082 | -€14,193 | -34.4% |
| Recurring financial charges | 65 | €41,275 | €27,082 | -€14,193 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,008 | -€34,497 | +€2,511 | +6.8% |
| Profit (loss) for the period | 9904 | -€37,008 | -€34,497 | +€2,511 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,008 | -€34,497 | +€2,511 | +6.8% |
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 26 October 2026 via checked.be.