FOR INVEST: 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
FOR INVEST
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€17,813
2023 · -€28,288+€46,101
Equity
€771,468
2023 · €802,254-€30,787
Cash
€7,910
2023 · €6,083+€1,827
Balance sheet total
€2.4m
2023 · €2.5m-€142,670
Largest movements
Assets
- Stocks and contracts -€127,500
down €127,500 (-11.5%), from €1.1m to €980,000
- Tangible fixed assets -€76,857
down €76,857 (-7.9%), from €967,606 to €890,749
of which Land and buildings: -€67,957
- Receivables after one year +€65,000
up €65,000 (+24.1%), from €270,000 to €335,000
Equity and liabilities
- Other debts -€76,521
down €76,521 (-28.3%), from €270,709 to €194,188
- Revaluation surpluses -€48,600
down €48,600 (-44.8%), from €108,600 to €60,000
- Debts after one year -€39,905
down €39,905 (-3.2%), from €1.2m to €1.2m
Income statement
- Gross operating margin +€83,647
up €83,647 (+86.3%), from €96,966 to €180,613
- Purchases and services -€62,065
no longer reported in 2024 (was €62,065)
- Financial charges +€34,831
up €34,831 (+86.3%), from €40,379 to €75,210
- Taxes +€8,332
up €8,332 (+489%), from €1,703 to €10,035
- Turnover -€7,500
no longer reported in 2024 (was €7,500)
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.
Result 2023
-€28,288
Gross operating margin
+€83,647
Staff costs
+€2,735
Depreciation
+€1,239
Other operating charges
-€685
Financial income
+€2,327
Financial charges
-€34,831
Taxes
-€8,332
Result 2024
€17,813
raises the resultlowers the result
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.
From operations
+€58,559
Investment
+€33,728
Financing
-€90,461
Cash 2023
€6,083
From operations (derived)
+€58,559
Net result for the year
+€17,813
Depreciation
+€43,129
Receivables after one year
-€65,000
Stocks and contracts
+€127,500
Receivables within one year
+€4,933
Deferred charges and accrued income
+€207
Trade debts
-€2,372
Tax, wage and social debts
+€8,871
Other debts
-€76,521
Investment (derived)
+€33,728
Investment in fixed assets (net)
+€33,728
Financing
-€90,461
Debts after one year
-€39,905
Current portion of long-term debt
-€1,970
Short-term financial debts
+€14
Contributions, distributions and other
-€48,600
Cash 2024
€7,910
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,494,609 | €2,351,939 | -€142,670 | -5.7% |
| Fixed assets | 21/28 | €969,090 | €892,233 | -€76,857 | -7.9% |
| Tangible fixed assets | 22/27 | €967,606 | €890,749 | -€76,857 | -7.9% |
| Land and buildings | 22 | €958,706 | €890,749 | -€67,957 | -7.1% |
| Furniture and vehicles | 24 | €8,900 | - | -€8,900 | |
| Financial fixed assets | 28 | €1,484 | €1,484 | = | 0.0% |
| Current assets | 29/58 | €1,525,519 | €1,459,706 | -€65,813 | -4.3% |
| Amounts receivable after more than one year | 29 | €270,000 | €335,000 | +€65,000 | +24.1% |
| Other amounts receivable | 291 | €270,000 | €335,000 | +€65,000 | +24.1% |
| Stocks and contracts in progress | 3 | €1,107,500 | €980,000 | -€127,500 | -11.5% |
| Stocks | 30/36 | €1,107,500 | €980,000 | -€127,500 | -11.5% |
| Amounts receivable within one year | 40/41 | €140,603 | €135,671 | -€4,933 | -3.5% |
| Trade receivables | 40 | €92,632 | €102,509 | +€9,877 | +10.7% |
| Other amounts receivable | 41 | €47,971 | €33,162 | -€14,810 | -30.9% |
| Cash at bank and in hand | 54/58 | €6,083 | €7,910 | +€1,827 | +30.0% |
| Deferred charges and accrued income | 490/1 | €1,332 | €1,125 | -€207 | -15.5% |
| Total equity and liabilities | 10/49 | €2,494,609 | €2,351,939 | -€142,670 | -5.7% |
| Equity | 10/15 | €802,254 | €771,468 | -€30,787 | -3.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €108,600 | €60,000 | -€48,600 | -44.8% |
| Reserves | 13 | €20,650 | €20,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €654,004 | €671,818 | +€17,813 | +2.7% |
| Amounts payable | 17/49 | €1,692,355 | €1,580,471 | -€111,883 | -6.6% |
| Amounts payable after more than one year | 17 | €1,240,215 | €1,200,310 | -€39,905 | -3.2% |
| Financial debts | 170/4 | €1,240,215 | €1,200,310 | -€39,905 | -3.2% |
| Amounts payable within one year | 42/48 | €452,140 | €380,161 | -€71,979 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €69,278 | €67,308 | -€1,970 | -2.8% |
| Financial debts | 43 | €42 | €56 | +€14 | +32.1% |
| Credit institutions | 430/8 | €42 | €56 | +€14 | +32.1% |
| Trade debts | 44 | €65,351 | €62,978 | -€2,372 | -3.6% |
| Suppliers | 440/4 | €65,351 | €62,978 | -€2,372 | -3.6% |
| Taxes, remuneration and social security | 45 | €46,760 | €55,631 | +€8,871 | +19.0% |
| Taxes | 450/3 | €38,864 | €44,618 | +€5,754 | +14.8% |
| Remuneration and social security | 454/9 | €7,897 | €11,013 | +€3,116 | +39.5% |
| Other amounts payable | 47/48 | €270,709 | €194,188 | -€76,521 | -28.3% |
| Turnover | 70 | €7,500 | - | -€7,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | €62,065 | - | -€62,065 | |
| Remuneration, social security and pensions | 62 | €25,961 | €23,226 | -€2,735 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,368 | €43,129 | -€1,239 | -2.8% |
| Other operating charges | 640/8 | €14,872 | €15,556 | +€685 | +4.6% |
| Gross operating margin | 9900 | €96,966 | €180,613 | +€83,647 | +86.3% |
| Operating profit (loss) | 9901 | €11,765 | €98,703 | +€86,937 | +739% |
| Financial income | 75/76B | €2,029 | €4,356 | +€2,327 | +115% |
| Recurring financial income | 75 | €2,029 | €4,356 | +€2,327 | +115% |
| Financial charges | 65/66B | €40,379 | €75,210 | +€34,831 | +86.3% |
| Recurring financial charges | 65 | €40,379 | €75,210 | +€34,831 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,585 | €27,849 | +€54,433 | |
| Income taxes | 67/77 | €1,703 | €10,035 | +€8,332 | +489% |
| Profit (loss) for the period | 9904 | -€28,288 | €17,813 | +€46,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,288 | €17,813 | +€46,101 |
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 30 October 2026 via checked.be.