FLORENCE - GESTION: 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
FLORENCE - GESTION
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€164,605
2024 · -€213,928+€49,323
Equity
€2.4m
2024 · €2.6m-€164,605
Cash
€31,984
2024 · €48,415-€16,431
Balance sheet total
€6.1m
2024 · €6.1m+€36,933
Largest movements
Assets
- Financial fixed assets -€615,076
down €615,076 (-89.0%), from €691,300 to €76,224
- Intangible fixed assets +€611,716
up €611,716 (+2354.6%), from €25,980 to €637,695
- Receivables within one year +€84,593
up €84,593 (+16.7%), from €506,664 to €591,257
of which Other amounts receivable: +€206,262
Equity and liabilities
- Other debts +€457,929
up €457,929 (+93.0%), from €492,608 to €950,537
- Debts after one year -€203,511
down €203,511 (-8.3%), from €2.4m to €2.2m
- Reserves -€174,949
down €174,949 (-8.8%), from €2.0m to €1.8m
of which Distributable reserves: -€790,000
Income statement
- Gross operating margin +€141,452
up €141,452 (+36.0%), from €393,062 to €534,514
- Depreciation +€73,718
up €73,718 (+23.8%), from €309,994 to €383,712
- Financial charges +€29,438
up €29,438 (+28.1%), from €104,776 to €134,214
- Other operating charges -€19,811
down €19,811 (-21.3%), from €93,018 to €73,207
- Write-downs +€9,444
new in 2025: €9,444
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
-€213,928
Gross operating margin
+€141,452
Staff costs
-€569
Depreciation
-€73,718
Write-downs
-€9,444
Other operating charges
+€19,811
Financial income
-€173
Financial charges
-€29,438
Taxes
+€1,400
Result 2025
-€164,605
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.
From operations
+€534,539
Investment
-€344,259
Financing
-€206,711
Cash 2024
€48,415
From operations (derived)
+€534,539
Net result for the year
-€164,605
Depreciation
+€383,712
Receivables within one year
-€84,593
Deferred charges and accrued income
-€8,224
Provisions
-€1,382
Trade debts
-€47,046
Tax, wage and social debts
-€1,251
Other debts
+€457,929
Investment (derived)
-€344,259
Investment in fixed assets (net)
-€344,248
Current investments
-€10
Financing
-€206,711
Debts after one year
-€203,511
Current portion of long-term debt
+€587
Short-term financial debts
-€3,787
Cash 2025
€31,984
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,094,111 | €6,131,044 | +€36,933 | +0.6% |
| Fixed assets | 21/28 | €5,489,637 | €5,450,174 | -€39,464 | -0.7% |
| Intangible fixed assets | 21 | €25,980 | €637,695 | +€611,716 | +2354.6% |
| Tangible fixed assets | 22/27 | €4,772,358 | €4,736,254 | -€36,104 | -0.8% |
| Land and buildings | 22 | €4,599,269 | €4,554,043 | -€45,226 | -1.0% |
| Furniture and vehicles | 24 | €173,089 | €182,211 | +€9,122 | +5.3% |
| Financial fixed assets | 28 | €691,300 | €76,224 | -€615,076 | -89.0% |
| Current assets | 29/58 | €604,473 | €680,870 | +€76,397 | +12.6% |
| Amounts receivable after more than one year | 29 | €31,000 | €31,000 | = | 0.0% |
| Other amounts receivable | 291 | €31,000 | €31,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €506,664 | €591,257 | +€84,593 | +16.7% |
| Trade receivables | 40 | €278,852 | €157,182 | -€121,669 | -43.6% |
| Other amounts receivable | 41 | €227,812 | €434,074 | +€206,262 | +90.5% |
| Current investments | 50/53 | €2,042 | €2,053 | +€10 | +0.5% |
| Cash at bank and in hand | 54/58 | €48,415 | €31,984 | -€16,431 | -33.9% |
| Deferred charges and accrued income | 490/1 | €16,352 | €24,577 | +€8,224 | +50.3% |
| Total equity and liabilities | 10/49 | €6,094,111 | €6,131,044 | +€36,933 | +0.6% |
| Equity | 10/15 | €2,578,978 | €2,414,372 | -€164,605 | -6.4% |
| Contributions | 10/11 | €564,654 | €564,654 | = | 0.0% |
| Capital | 10 | €564,654 | €564,654 | = | 0.0% |
| Issued capital | 100 | €564,654 | €564,654 | = | 0.0% |
| Reserves | 13 | €1,985,805 | €1,810,856 | -€174,949 | -8.8% |
| Non-distributable reserves | 130/1 | €56,465 | €56,465 | = | 0.0% |
| Legal reserve | 130 | €56,465 | €56,465 | = | 0.0% |
| Tax-exempt reserves | 132 | €133,208 | €748,258 | +€615,051 | +461.7% |
| Distributable reserves | 133 | €1,796,132 | €1,006,132 | -€790,000 | -44.0% |
| Profit (loss) carried forward | 14 | €28,518 | €38,862 | +€10,344 | +36.3% |
| Provisions and deferred taxes | 16 | €40,535 | €39,153 | -€1,382 | -3.4% |
| Deferred taxes | 168 | €40,535 | €39,153 | -€1,382 | -3.4% |
| Amounts payable | 17/49 | €3,474,598 | €3,677,519 | +€202,920 | +5.8% |
| Amounts payable after more than one year | 17 | €2,438,182 | €2,234,671 | -€203,511 | -8.3% |
| Financial debts | 170/4 | €2,438,182 | €2,234,671 | -€203,511 | -8.3% |
| Amounts payable within one year | 42/48 | €1,036,416 | €1,442,848 | +€406,432 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €320,296 | €320,883 | +€587 | +0.2% |
| Financial debts | 43 | €8,000 | €4,213 | -€3,787 | -47.3% |
| Credit institutions | 430/8 | €8,000 | €4,213 | -€3,787 | -47.3% |
| Trade debts | 44 | €198,096 | €151,050 | -€47,046 | -23.7% |
| Suppliers | 440/4 | €198,096 | €151,050 | -€47,046 | -23.7% |
| Taxes, remuneration and social security | 45 | €17,416 | €16,164 | -€1,251 | -7.2% |
| Taxes | 450/3 | €7,501 | €11,135 | +€3,635 | +48.5% |
| Remuneration and social security | 454/9 | €9,915 | €5,029 | -€4,886 | -49.3% |
| Other amounts payable | 47/48 | €492,608 | €950,537 | +€457,929 | +93.0% |
| Remuneration, social security and pensions | 62 | €61,903 | €62,472 | +€569 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,994 | €383,712 | +€73,718 | +23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,444 | +€9,444 | |
| Other operating charges | 640/8 | €93,018 | €73,207 | -€19,811 | -21.3% |
| Gross operating margin | 9900 | €393,062 | €534,514 | +€141,452 | +36.0% |
| Operating profit (loss) | 9901 | -€71,853 | €5,680 | +€77,533 | |
| Financial income | 75/76B | €827 | €655 | -€173 | -20.8% |
| Recurring financial income | 75 | €827 | €655 | -€173 | -20.8% |
| Financial charges | 65/66B | €104,776 | €134,214 | +€29,438 | +28.1% |
| Recurring financial charges | 65 | €104,776 | €134,214 | +€29,438 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€175,802 | -€127,879 | +€47,922 | +27.3% |
| Transfer from deferred taxes | 780 | €1,382 | €1,382 | = | 0.0% |
| Income taxes | 67/77 | €39,508 | €38,108 | -€1,400 | -3.5% |
| Profit (loss) for the period | 9904 | -€213,928 | -€164,605 | +€49,323 | +23.1% |
| Transfer from tax-exempt reserves | 789 | €4,146 | €74,143 | +€69,998 | +1688.5% |
| Transfer to tax-exempt reserves | 689 | - | €689,194 | +€689,194 | |
| Profit (loss) for the period to be appropriated | 9905 | -€209,782 | -€779,656 | -€569,873 | -271.6% |
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 12 October 2026 via checked.be.