ERA-LIM-11: 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
ERA-LIM-11
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€611
2024 · €3,806-€4,417
Equity
€927,108
2024 · €927,719-€611
Cash
€67,617
2024 · €69,162-€1,545
Balance sheet total
€977,707
2024 · €1.0m-€54,644
Largest movements
Assets
- Tangible fixed assets -€41,834
down €41,834 (-4.4%), from €947,908 to €906,074
of which Land and buildings: -€41,168
- Receivables within one year -€11,265
down €11,265 (-73.7%), from €15,281 to €4,016
Equity and liabilities
- Other debts -€62,084
down €62,084 (-95.1%), from €65,255 to €3,171
Income statement
- Gross operating margin -€4,196
down €4,196 (-5.3%), from €78,487 to €74,291
- Other operating charges +€2,696
up €2,696 (+23.5%), from €11,479 to €14,175
- Financial charges -€1,098
down €1,098 (-38.7%), from €2,838 to €1,740
- Taxes -€937
down €937 (-21.9%), from €4,271 to €3,334
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
€3,806
Gross operating margin
-€4,196
Depreciation
+€433
Other operating charges
-€2,696
Financial income
+€8
Financial charges
+€1,098
Taxes
+€937
Result 2025
-€611
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
+€14,281
Investment
-€15,827
Financing
€0
Cash 2024
€69,162
From operations (derived)
+€14,281
Net result for the year
-€611
Depreciation
+€57,661
Receivables within one year
+€11,265
Provisions
-€1,885
Trade debts
+€2,050
Tax, wage and social debts
+€5,674
Advances received
-€1,604
Other debts
-€62,084
Accrued charges and deferred income
+€3,816
Investment (derived)
-€15,827
Investment in fixed assets (net)
-€15,827
Cash 2025
€67,617
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,032,351 | €977,707 | -€54,644 | -5.3% |
| Fixed assets | 21/28 | €947,908 | €906,074 | -€41,834 | -4.4% |
| Tangible fixed assets | 22/27 | €947,908 | €906,074 | -€41,834 | -4.4% |
| Land and buildings | 22 | €943,364 | €902,196 | -€41,168 | -4.4% |
| Plant, machinery and equipment | 23 | €3,131 | €2,593 | -€537 | -17.2% |
| Furniture and vehicles | 24 | €1,414 | €1,285 | -€129 | -9.1% |
| Current assets | 29/58 | €84,443 | €71,633 | -€12,810 | -15.2% |
| Amounts receivable within one year | 40/41 | €15,281 | €4,016 | -€11,265 | -73.7% |
| Trade receivables | 40 | €15,281 | €4,016 | -€11,265 | -73.7% |
| Cash at bank and in hand | 54/58 | €69,162 | €67,617 | -€1,545 | -2.2% |
| Total equity and liabilities | 10/49 | €1,032,351 | €977,707 | -€54,644 | -5.3% |
| Equity | 10/15 | €927,719 | €927,108 | -€611 | -0.1% |
| Contributions | 10/11 | €216,000 | €216,000 | = | 0.0% |
| Capital | 10 | €216,000 | €216,000 | = | 0.0% |
| Issued capital | 100 | €216,000 | €216,000 | = | 0.0% |
| Reserves | 13 | €711,719 | €711,108 | -€611 | -0.1% |
| Non-distributable reserves | 130/1 | €21,600 | €21,600 | = | 0.0% |
| Legal reserve | 130 | €21,600 | €21,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,945 | €110,405 | -€7,540 | -6.4% |
| Distributable reserves | 133 | €572,174 | €579,103 | +€6,929 | +1.2% |
| Provisions and deferred taxes | 16 | €29,224 | €27,339 | -€1,885 | -6.4% |
| Provisions for liabilities and charges | 160/5 | €29,224 | - | -€29,224 | |
| Pensions and similar obligations | 160 | €29,224 | - | -€29,224 | |
| Deferred taxes | 168 | - | €27,339 | +€27,339 | |
| Amounts payable | 17/49 | €75,407 | €23,259 | -€52,148 | -69.2% |
| Amounts payable within one year | 42/48 | €72,951 | €16,987 | -€55,964 | -76.7% |
| Trade debts | 44 | €154 | €2,204 | +€2,050 | +1,334% |
| Suppliers | 440/4 | €154 | €2,204 | +€2,050 | +1,334% |
| Advances received on contracts in progress | 46 | €1,604 | - | -€1,604 | |
| Taxes, remuneration and social security | 45 | €5,938 | €11,613 | +€5,674 | +95.6% |
| Taxes | 450/3 | €5,938 | €11,613 | +€5,674 | +95.6% |
| Other amounts payable | 47/48 | €65,255 | €3,171 | -€62,084 | -95.1% |
| Accrued charges and deferred income | 492/3 | €2,456 | €6,272 | +€3,816 | +155% |
| Non-recurring operating income | 76A | - | €689 | +€689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,093 | €57,661 | -€433 | -0.7% |
| Other operating charges | 640/8 | €11,479 | €14,175 | +€2,696 | +23.5% |
| Gross operating margin | 9900 | €78,487 | €74,291 | -€4,196 | -5.3% |
| Operating profit (loss) | 9901 | €8,915 | €2,456 | -€6,460 | -72.5% |
| Financial income | 75/76B | €115 | €123 | +€8 | +6.8% |
| Recurring financial income | 75 | €115 | €123 | +€8 | +6.8% |
| Financial charges | 65/66B | €2,838 | €1,740 | -€1,098 | -38.7% |
| Recurring financial charges | 65 | €2,838 | €1,740 | -€1,098 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €6,192 | €838 | -€5,354 | -86.5% |
| Transfer from deferred taxes | 780 | €1,885 | €1,885 | = | 0.0% |
| Income taxes | 67/77 | €4,271 | €3,334 | -€937 | -21.9% |
| Profit (loss) for the period | 9904 | €3,806 | -€611 | -€4,417 | |
| Transfer from tax-exempt reserves | 789 | €7,540 | €7,540 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,346 | €6,929 | -€4,417 | -38.9% |
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 22 October 2026 via checked.be.