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.
What changed
Estate
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€486,026
2024 · -€365,366-€120,660
Equity
€10.6m
2024 · €11.0m-€486,026
Cash
€42,257
2024 · €50,198-€7,941
Balance sheet total
€24.2m
2024 · €23.6m+€618,543
Largest movements
Assets
- Receivables within one year +€403,848
up €403,848 (+9.1%), from €4.4m to €4.8m
of which Other amounts receivable: +€455,091
Equity and liabilities
- Other debts +€1.3m
up €1.3m (+22.5%), from €5.9m to €7.3m
- Profit (loss) carried forward -€318,211
new in 2025: -€318,211
- Debts after one year -€309,048
down €309,048 (-5.3%), from €5.9m to €5.5m
of which Financial debts: -€309,448
Income statement
- Services and other goods +€58,467
up €58,467 (+17.1%), from €341,979 to €400,447
- Turnover -€53,052
down €53,052 (-5.7%), from €934,311 to €881,258
- Depreciation +€17,025
up €17,025 (+2.7%), from €632,039 to €649,064
- Financial charges -€9,498
down €9,498 (-5.3%), from €178,126 to €168,629
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
-€365,366
Turnover
-€53,052
Other operating income
-€9,248
Services and other goods
-€58,467
Staff costs
-€2,581
Depreciation
-€17,025
Other operating charges
+€3,512
Other operating items
+€250
Financial income
+€4,552
Financial charges
+€9,498
Taxes
+€1,945
Deferred taxes and other
-€42
Result 2025
-€486,026
raises the resultlowers the resultnot broken down further in the accounts
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
+€965,143
Investment
-€672,015
Financing
-€301,069
Cash 2024
€50,198
From operations (derived)
+€965,143
Net result for the year
-€486,026
Depreciation
+€649,064
Receivables within one year
-€403,848
Deferred charges and accrued income
-€199,685
Provisions
-€25,210
Trade debts
+€85,512
Tax, wage and social debts
+€13,113
Other debts
+€1.3m
Accrued charges and deferred income
-€1,185
Investment (derived)
-€672,015
Investment in fixed assets (net)
-€672,015
Financing
-€301,069
Debts after one year
-€309,048
Current portion of long-term debt
+€7,980
Cash 2025
€42,257
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,593,163 | €24,211,706 | +€618,543 | +2.6% |
| Fixed assets | 21/28 | €19,107,380 | €19,130,330 | +€22,950 | +0.1% |
| Tangible fixed assets | 22/27 | €13,083,942 | €13,106,543 | +€22,600 | +0.2% |
| Land and buildings | 22 | €8,225,104 | €8,463,191 | +€238,087 | +2.9% |
| Plant, machinery and equipment | 23 | €63,355 | €57,902 | -€5,453 | -8.6% |
| Furniture and vehicles | 24 | €121,318 | €84,183 | -€37,135 | -30.6% |
| Other tangible fixed assets | 26 | €4,674,166 | €4,501,266 | -€172,899 | -3.7% |
| Financial fixed assets | 28 | €6,023,437 | €6,023,787 | +€350 | 0.0% |
| Affiliated companies | 280/1 | €6,023,016 | €6,023,016 | = | 0.0% |
| Participating interests | 280 | €6,023,016 | €6,023,016 | = | 0.0% |
| Other financial fixed assets | 284/8 | €421 | €771 | +€350 | +83.1% |
| Amounts receivable and cash guarantees | 285/8 | €421 | €771 | +€350 | +83.1% |
| Current assets | 29/58 | €4,485,783 | €5,081,376 | +€595,593 | +13.3% |
| Amounts receivable within one year | 40/41 | €4,421,442 | €4,825,290 | +€403,848 | +9.1% |
| Trade receivables | 40 | €90,996 | €39,752 | -€51,243 | -56.3% |
| Other amounts receivable | 41 | €4,330,446 | €4,785,538 | +€455,091 | +10.5% |
| Cash at bank and in hand | 54/58 | €50,198 | €42,257 | -€7,941 | -15.8% |
| Deferred charges and accrued income | 490/1 | €14,143 | €213,829 | +€199,685 | +1,412% |
| Total equity and liabilities | 10/49 | €23,593,163 | €24,211,706 | +€618,543 | +2.6% |
| Equity | 10/15 | €11,040,216 | €10,554,190 | -€486,026 | -4.4% |
| Contributions | 10/11 | €9,312,000 | €9,312,000 | = | 0.0% |
| Capital | 10 | €9,312,000 | €9,312,000 | = | 0.0% |
| Issued capital | 100 | €9,312,000 | €9,312,000 | = | 0.0% |
| Reserves | 13 | €1,728,216 | €1,560,401 | -€167,815 | -9.7% |
| Non-distributable reserves | 130/1 | €421,200 | €421,200 | = | 0.0% |
| Legal reserve | 130 | €421,200 | €421,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,214,830 | €1,139,201 | -€75,629 | -6.2% |
| Distributable reserves | 133 | €92,186 | - | -€92,186 | |
| Profit (loss) carried forward | 14 | - | -€318,211 | -€318,211 | |
| Provisions and deferred taxes | 16 | €404,943 | €379,734 | -€25,210 | -6.2% |
| Deferred taxes | 168 | €404,943 | €379,734 | -€25,210 | -6.2% |
| Amounts payable | 17/49 | €12,148,003 | €13,277,783 | +€1.1m | +9.3% |
| Amounts payable after more than one year | 17 | €5,858,765 | €5,549,717 | -€309,048 | -5.3% |
| Financial debts | 170/4 | €5,854,265 | €5,544,817 | -€309,448 | -5.3% |
| Credit institutions | 173 | €5,854,265 | €5,544,817 | -€309,448 | -5.3% |
| Other amounts payable | 178/9 | €4,500 | €4,900 | +€400 | +8.9% |
| Amounts payable within one year | 42/48 | €6,284,615 | €7,724,627 | +€1.4m | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €301,469 | €309,448 | +€7,980 | +2.6% |
| Trade debts | 44 | €28,051 | €113,563 | +€85,512 | +305% |
| Suppliers | 440/4 | €28,051 | €113,563 | +€85,512 | +305% |
| Taxes, remuneration and social security | 45 | €33,974 | €47,088 | +€13,113 | +38.6% |
| Taxes | 450/3 | €15,137 | €27,686 | +€12,549 | +82.9% |
| Remuneration and social security | 454/9 | €18,838 | €19,402 | +€564 | +3.0% |
| Other amounts payable | 47/48 | €5,921,121 | €7,254,528 | +€1.3m | +22.5% |
| Accrued charges and deferred income | 492/3 | €4,623 | €3,438 | -€1,185 | -25.6% |
| Operating income | 70/76A | €951,588 | €889,287 | -€62,301 | -6.5% |
| Turnover | 70 | €934,311 | €881,258 | -€53,052 | -5.7% |
| Other operating income | 74 | €17,277 | €8,029 | -€9,248 | -53.5% |
| Operating charges | 60/66A | €1,202,752 | €1,277,063 | +€74,311 | +6.2% |
| Services and other goods | 61 | €341,979 | €400,447 | +€58,467 | +17.1% |
| Remuneration, social security and pensions | 62 | €137,892 | €140,473 | +€2,581 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €632,039 | €649,064 | +€17,025 | +2.7% |
| Other operating charges | 640/8 | €73,468 | €69,956 | -€3,512 | -4.8% |
| Non-recurring operating charges | 66A | €17,373 | €17,123 | -€250 | -1.4% |
| Operating profit (loss) | 9901 | -€251,164 | -€387,776 | -€136,612 | -54.4% |
| Financial income | 75/76B | €40,617 | €45,169 | +€4,552 | +11.2% |
| Recurring financial income | 75 | €40,617 | €45,169 | +€4,552 | +11.2% |
| Income from current assets | 751 | €40,617 | €45,169 | +€4,552 | +11.2% |
| Financial charges | 65/66B | €178,126 | €168,629 | -€9,498 | -5.3% |
| Recurring financial charges | 65 | €178,126 | €168,629 | -€9,498 | -5.3% |
| Debt charges | 650 | €176,658 | €165,675 | -€10,984 | -6.2% |
| Other financial charges | 652/9 | €1,468 | €2,954 | +€1,486 | +101% |
| Profit (loss) for the period before taxes | 9903 | -€388,673 | -€511,236 | -€122,563 | -31.5% |
| Transfer from deferred taxes | 780 | €25,252 | €25,210 | -€42 | -0.2% |
| Income taxes | 67/77 | €1,945 | - | -€1,945 | |
| Taxes | 670/3 | €1,945 | - | -€1,945 | |
| Profit (loss) for the period | 9904 | -€365,366 | -€486,026 | -€120,660 | -33.0% |
| Transfer from tax-exempt reserves | 789 | €75,755 | €75,629 | -€126 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€289,611 | -€410,397 | -€120,786 | -41.7% |
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.