ESTATE SERVICES: 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.
ESTATE SERVICES
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+123%), from €836,736 to €1.9m
of which Leasing and similar rights: +€1.0m
- Cash -€24,841
down €24,841 (-48.5%), from €51,230 to €26,390
mainly Investment in fixed assets (net) (-€1.1m) and Deferred charges and accrued income (-€3,413)
- Debts after one year +€917,058
up €917,058 (+155%), from €591,683 to €1.5m
- Reserves +€48,151
up €48,151 (+14.5%), from €331,968 to €380,120
of which Distributable reserves: +€48,151
- Current portion of long-term debt +€23,500
up €23,500 (+92.2%), from €25,489 to €48,989
- Gross operating margin +€76,143
up €76,143 (+37.6%), from €202,299 to €278,443
- Financial charges +€48,017
up €48,017 (+269%), from €17,822 to €65,839
- Depreciation +€32,884
up €32,884 (+40.8%), from €80,629 to €113,513
- Other operating charges +€6,883
up €6,883 (+1,471%), from €468 to €7,350
- Staff costs -€3,522
down €3,522 (-16.0%), from €22,040 to €18,518
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,026,064 | €2,027,128 | +€1.0m | +97.6% |
| Fixed assets | 21/28 | €855,646 | €1,881,933 | +€1.0m | +120% |
| Tangible fixed assets | 22/27 | €836,736 | €1,863,023 | +€1.0m | +123% |
| Land and buildings | 22 | €676,463 | €658,312 | -€18,150 | -2.7% |
| Plant, machinery and equipment | 23 | €151,261 | €185,906 | +€34,645 | +22.9% |
| Furniture and vehicles | 24 | €9,012 | €6,629 | -€2,384 | -26.4% |
| Leasing and similar rights | 25 | - | €1,012,175 | +€1.0m | |
| Financial fixed assets | 28 | €18,910 | €18,910 | = | 0.0% |
| Current assets | 29/58 | €170,418 | €145,195 | -€25,223 | -14.8% |
| Amounts receivable within one year | 40/41 | €119,187 | €115,392 | -€3,795 | -3.2% |
| Trade receivables | 40 | €43,561 | €47,870 | +€4,309 | +9.9% |
| Other amounts receivable | 41 | €75,626 | €67,522 | -€8,104 | -10.7% |
| Cash at bank and in hand | 54/58 | €51,230 | €26,390 | -€24,841 | -48.5% |
| Deferred charges and accrued income | 490/1 | - | €3,413 | +€3,413 | |
| Total equity and liabilities | 10/49 | €1,026,064 | €2,027,128 | +€1.0m | +97.6% |
| Equity | 10/15 | €332,068 | €380,220 | +€48,151 | +14.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €331,968 | €380,120 | +€48,151 | +14.5% |
| Non-distributable reserves | 130/1 | €18,500 | €18,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €313,468 | €361,620 | +€48,151 | +15.4% |
| Amounts payable | 17/49 | €693,996 | €1,646,908 | +€952,913 | +137% |
| Amounts payable after more than one year | 17 | €591,683 | €1,508,741 | +€917,058 | +155% |
| Financial debts | 170/4 | €591,683 | €1,508,741 | +€917,058 | +155% |
| Amounts payable within one year | 42/48 | €93,666 | €123,720 | +€30,054 | +32.1% |
| Current portion of amounts payable after more than one year | 42 | €25,489 | €48,989 | +€23,500 | +92.2% |
| Trade debts | 44 | €15,724 | €17,986 | +€2,262 | +14.4% |
| Suppliers | 440/4 | €15,724 | €17,986 | +€2,262 | +14.4% |
| Taxes, remuneration and social security | 45 | €52,453 | €56,746 | +€4,293 | +8.2% |
| Taxes | 450/3 | €43,781 | €52,314 | +€8,534 | +19.5% |
| Remuneration and social security | 454/9 | €8,672 | €4,432 | -€4,241 | -48.9% |
| Accrued charges and deferred income | 492/3 | €8,646 | €14,447 | +€5,801 | +67.1% |
| Remuneration, social security and pensions | 62 | €22,040 | €18,518 | -€3,522 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,629 | €113,513 | +€32,884 | +40.8% |
| Other operating charges | 640/8 | €468 | €7,350 | +€6,883 | +1,471% |
| Gross operating margin | 9900 | €202,299 | €278,443 | +€76,143 | +37.6% |
| Operating profit (loss) | 9901 | €99,163 | €139,061 | +€39,898 | +40.2% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €17,822 | €65,839 | +€48,017 | +269% |
| Recurring financial charges | 65 | €17,822 | €65,839 | +€48,017 | +269% |
| Profit (loss) for the period before taxes | 9903 | €81,340 | €73,222 | -€8,119 | -10.0% |
| Income taxes | 67/77 | €27,160 | €25,070 | -€2,089 | -7.7% |
| Profit (loss) for the period | 9904 | €54,181 | €48,151 | -€6,029 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,181 | €48,151 | -€6,029 | -11.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.