FOR REAL 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.
FOR REAL ESTATE
Largest movements
- Financial fixed assets +€100,000
new in 2025: €100,000
- Receivables within one year -€17,014
down €17,014 (-23.4%), from €72,714 to €55,700
of which Trade receivables: -€25,711
- Profit (loss) carried forward +€54,563
up €54,563 (+418%), from €13,038 to €67,601
- Other debts -€31,000
no longer reported in 2025 (was €31,000)
- Debts after one year +€30,000
new in 2025: €30,000
- Current portion of long-term debt +€30,000
new in 2025: €30,000
- Trade debts -€9,896
down €9,896 (-80.6%), from €12,279 to €2,383
- Gross operating margin -€27,169
down €27,169 (-26.1%), from €103,942 to €76,773
- Other operating charges -€9,227
down €9,227 (-98.6%), from €9,354 to €127
- Taxes -€3,518
down €3,518 (-16.8%), from €20,900 to €17,382
- Financial charges +€2,330
up €2,330 (+1,484%), from €157 to €2,487
- Depreciation +€1,297
up €1,297 (+283%), from €458 to €1,755
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,765 | €223,063 | +€83,298 | +59.6% |
| Fixed assets | 21/28 | €4,999 | €103,244 | +€98,245 | +1,965% |
| Tangible fixed assets | 22/27 | €4,999 | €3,244 | -€1,755 | -35.1% |
| Furniture and vehicles | 24 | €4,999 | €3,244 | -€1,755 | -35.1% |
| Financial fixed assets | 28 | - | €100,000 | +€100,000 | |
| Current assets | 29/58 | €134,766 | €119,819 | -€14,947 | -11.1% |
| Amounts receivable within one year | 40/41 | €72,714 | €55,700 | -€17,014 | -23.4% |
| Trade receivables | 40 | €72,714 | €47,003 | -€25,711 | -35.4% |
| Other amounts receivable | 41 | - | €8,697 | +€8,697 | |
| Cash at bank and in hand | 54/58 | €61,924 | €64,009 | +€2,085 | +3.4% |
| Deferred charges and accrued income | 490/1 | €128 | €111 | -€17 | -13.3% |
| Total equity and liabilities | 10/49 | €139,765 | €223,063 | +€83,298 | +59.6% |
| Equity | 10/15 | €78,038 | €132,601 | +€54,563 | +69.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,038 | €67,601 | +€54,563 | +418% |
| Amounts payable | 17/49 | €61,727 | €90,462 | +€28,735 | +46.6% |
| Amounts payable after more than one year | 17 | - | €30,000 | +€30,000 | |
| Financial debts | 170/4 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €61,727 | €60,462 | -€1,265 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €12,279 | €2,383 | -€9,896 | -80.6% |
| Suppliers | 440/4 | €12,279 | €2,383 | -€9,896 | -80.6% |
| Taxes, remuneration and social security | 45 | €18,448 | €28,079 | +€9,631 | +52.2% |
| Taxes | 450/3 | €13,948 | €28,079 | +€14,131 | +101% |
| Remuneration and social security | 454/9 | €4,500 | - | -€4,500 | |
| Other amounts payable | 47/48 | €31,000 | - | -€31,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €1,755 | +€1,297 | +283% |
| Other operating charges | 640/8 | €9,354 | €127 | -€9,227 | -98.6% |
| Non-recurring operating charges | 66A | €35 | €662 | +€627 | +1,792% |
| Gross operating margin | 9900 | €103,942 | €76,773 | -€27,169 | -26.1% |
| Operating profit (loss) | 9901 | €94,095 | €74,228 | -€19,867 | -21.1% |
| Financial income | 75/76B | - | €205 | +€205 | |
| Recurring financial income | 75 | - | €205 | +€205 | |
| Financial charges | 65/66B | €157 | €2,487 | +€2,330 | +1,484% |
| Recurring financial charges | 65 | €157 | €2,487 | +€2,330 | +1,484% |
| Profit (loss) for the period before taxes | 9903 | €93,938 | €71,946 | -€21,992 | -23.4% |
| Income taxes | 67/77 | €20,900 | €17,382 | -€3,518 | -16.8% |
| Profit (loss) for the period | 9904 | €73,038 | €54,564 | -€18,474 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,038 | €54,564 | -€18,474 | -25.3% |
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 22 October 2026 via checked.be.