ESTATES MANAGEMENT: what changed
Two fiscal 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.
ESTATES MANAGEMENT
Largest movements
- Stocks and contracts +€288,501
up €288,501 (+62.7%), from €460,000 to €748,501
- Cash -€207,598
down €207,598 (-93.0%), from €223,228 to €15,630
mainly Stocks and contracts (-€288,501) and Tax, wage and social debts (-€59,622)
- Receivables within one year -€46,852
down €46,852 (-60.8%), from €77,055 to €30,203
of which Trade receivables: -€38,154
- Tangible fixed assets -€15,988
down €15,988 (-52.3%), from €30,584 to €14,596
of which Furniture and vehicles: -€18,625
- Other debts +€175,774
up €175,774 (+38.6%), from €455,044 to €630,818
- Tax, wage and social debts -€59,622
down €59,622 (-93.4%), from €63,803 to €4,180
- Trade debts -€51,376
down €51,376 (-99.5%), from €51,629 to €253
- Profit (loss) carried forward -€47,959
down €47,959 (-23.2%), from €207,032 to €159,073
- Gross operating margin -€114,103
down €114,103, from €91,934 to -€22,168
- Financial charges -€30,949
down €30,949 (-86.4%), from €35,813 to €4,863
- Depreciation -€14,404
down €14,404 (-41.9%), from €34,358 to €19,954
- Taxes -€6,433
down €6,433 (-96.0%), from €6,701 to €268
- Financial income -€1,709
down €1,709 (-98.8%), from €1,730 to €21
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.
Cash bridge derived
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 | €797,967 | €814,784 | +€16,817 | +2.1% |
| Fixed assets | 21/28 | €31,164 | €15,175 | -€15,988 | -51.3% |
| Tangible fixed assets | 22/27 | €30,584 | €14,596 | -€15,988 | -52.3% |
| Plant, machinery and equipment | 23 | €8,868 | €11,504 | +€2,637 | +29.7% |
| Furniture and vehicles | 24 | €21,716 | €3,091 | -€18,625 | -85.8% |
| Financial fixed assets | 28 | €580 | €580 | = | 0.0% |
| Current assets | 29/58 | €766,803 | €799,609 | +€32,805 | +4.3% |
| Stocks and contracts in progress | 3 | €460,000 | €748,501 | +€288,501 | +62.7% |
| Stocks | 30/36 | €460,000 | €748,501 | +€288,501 | +62.7% |
| Amounts receivable within one year | 40/41 | €77,055 | €30,203 | -€46,852 | -60.8% |
| Trade receivables | 40 | €38,154 | €0 | -€38,154 | -100.0% |
| Other amounts receivable | 41 | €38,901 | €30,203 | -€8,698 | -22.4% |
| Cash at bank and in hand | 54/58 | €223,228 | €15,630 | -€207,598 | -93.0% |
| Deferred charges and accrued income | 490/1 | €6,521 | €5,274 | -€1,246 | -19.1% |
| Total equity and liabilities | 10/49 | €797,967 | €814,784 | +€16,817 | +2.1% |
| Equity | 10/15 | €227,492 | €179,533 | -€47,959 | -21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,032 | €159,073 | -€47,959 | -23.2% |
| Amounts payable | 17/49 | €570,475 | €635,251 | +€64,776 | +11.4% |
| Amounts payable within one year | 42/48 | €570,475 | €635,251 | +€64,776 | +11.4% |
| Trade debts | 44 | €51,629 | €253 | -€51,376 | -99.5% |
| Suppliers | 440/4 | €51,629 | €253 | -€51,376 | -99.5% |
| Taxes, remuneration and social security | 45 | €63,803 | €4,180 | -€59,622 | -93.4% |
| Taxes | 450/3 | €63,803 | €4,180 | -€59,622 | -93.4% |
| Other amounts payable | 47/48 | €455,044 | €630,818 | +€175,774 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,358 | €19,954 | -€14,404 | -41.9% |
| Other operating charges | 640/8 | €1,337 | €727 | -€611 | -45.7% |
| Gross operating margin | 9900 | €91,934 | -€22,168 | -€114,103 | |
| Operating profit (loss) | 9901 | €56,239 | -€42,849 | -€99,088 | |
| Financial income | 75/76B | €1,730 | €21 | -€1,709 | -98.8% |
| Recurring financial income | 75 | €1,730 | €21 | -€1,709 | -98.8% |
| Financial charges | 65/66B | €35,813 | €4,863 | -€30,949 | -86.4% |
| Recurring financial charges | 65 | €35,813 | €4,863 | -€30,949 | -86.4% |
| Profit (loss) for the period before taxes | 9903 | €22,156 | -€47,692 | -€69,848 | |
| Income taxes | 67/77 | €6,701 | €268 | -€6,433 | -96.0% |
| Profit (loss) for the period | 9904 | €15,456 | -€47,959 | -€63,415 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,456 | -€47,959 | -€63,415 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.