FUTURE: 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.
What changed
FUTURE
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€37,081
2024 · €85,386-€122,468
Equity
€2.2m
2024 · €2.2m-€37,081
Cash
€150,492
2024 · €53,381+€97,112
Balance sheet total
€2.8m
2024 · €2.9m-€52,010
Largest movements
Assets
- Stocks and contracts -€141,480
down €141,480 (-10.3%), from €1.4m to €1.2m
- Cash +€97,112
up €97,112 (+181.9%), from €53,381 to €150,492
mainly Stocks and contracts (+€141,480) and Depreciation (+€24,154)
Equity and liabilities
- Profit (loss) carried forward -€36,460
down €36,460 (-5.0%), from €723,972 to €687,512
Income statement
- Gross operating margin -€121,521
down €121,521 (-89.3%), from €136,130 to €14,609
- Financial charges -€1,847
down €1,847 (-8.5%), from €21,656 to €19,809
- Depreciation +€1,815
up €1,815 (+8.1%), from €22,339 to €24,154
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
€85,386
Gross operating margin
-€121,521
Depreciation
-€1,815
Other operating charges
+€1,120
Financial income
-€804
Financial charges
+€1,847
Taxes
-€79
Deferred taxes and other
-€1,216
Result 2025
-€37,081
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
+€110,212
Investment
-€13,100
Financing
€0
Cash 2024
€53,381
From operations (derived)
+€110,212
Net result for the year
-€37,081
Depreciation
+€24,154
Stocks and contracts
+€141,480
Receivables within one year
-€3,500
Smaller working-capital items
-€232
Trade debts
-€25,409
Tax, wage and social debts
-€633
Other debts
+€10,317
Accrued charges and deferred income
+€1,116
Investment (derived)
-€13,100
Investment in fixed assets (net)
-€13,100
Cash 2025
€150,492
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,861,434 | €2,809,424 | -€52,010 | -1.8% |
| Fixed assets | 21/28 | €1,115,827 | €1,104,773 | -€11,054 | -1.0% |
| Tangible fixed assets | 22/27 | €447,707 | €436,653 | -€11,054 | -2.5% |
| Land and buildings | 22 | €438,096 | €419,769 | -€18,328 | -4.2% |
| Plant, machinery and equipment | 23 | €6,417 | €9,505 | +€3,088 | +48.1% |
| Furniture and vehicles | 24 | €3,193 | €7,380 | +€4,186 | +131.1% |
| Financial fixed assets | 28 | €668,120 | €668,120 | = | 0.0% |
| Current assets | 29/58 | €1,745,607 | €1,704,651 | -€40,956 | -2.3% |
| Stocks and contracts in progress | 3 | €1,367,688 | €1,226,207 | -€141,480 | -10.3% |
| Stocks | 30/36 | €1,367,688 | €1,226,207 | -€141,480 | -10.3% |
| Amounts receivable within one year | 40/41 | €321,500 | €325,000 | +€3,500 | +1.1% |
| Trade receivables | 40 | €21,500 | €0 | -€21,500 | -100.0% |
| Other amounts receivable | 41 | €300,000 | €325,000 | +€25,000 | +8.3% |
| Cash at bank and in hand | 54/58 | €53,381 | €150,492 | +€97,112 | +181.9% |
| Deferred charges and accrued income | 490/1 | €3,039 | €2,951 | -€88 | -2.9% |
| Total equity and liabilities | 10/49 | €2,861,434 | €2,809,424 | -€52,010 | -1.8% |
| Equity | 10/15 | €2,203,254 | €2,166,173 | -€37,081 | -1.7% |
| Contributions | 10/11 | €80,573 | €80,573 | = | 0.0% |
| Capital | 10 | €80,573 | €80,573 | = | 0.0% |
| Issued capital | 100 | €80,573 | €80,573 | = | 0.0% |
| Revaluation surpluses | 12 | €149,663 | €149,663 | = | 0.0% |
| Reserves | 13 | €1,249,046 | €1,248,425 | -€621 | 0.0% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Tax-exempt reserves | 132 | €621 | €0 | -€621 | -100.0% |
| Distributable reserves | 133 | €1,240,367 | €1,240,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | €723,972 | €687,512 | -€36,460 | -5.0% |
| Provisions and deferred taxes | 16 | €320 | €0 | -€320 | -100.0% |
| Deferred taxes | 168 | €320 | €0 | -€320 | -100.0% |
| Amounts payable | 17/49 | €657,861 | €643,252 | -€14,609 | -2.2% |
| Amounts payable within one year | 42/48 | €646,486 | €630,762 | -€15,725 | -2.4% |
| Trade debts | 44 | €26,841 | €1,432 | -€25,409 | -94.7% |
| Suppliers | 440/4 | €26,841 | €1,432 | -€25,409 | -94.7% |
| Taxes, remuneration and social security | 45 | €1,752 | €1,119 | -€633 | -36.1% |
| Taxes | 450/3 | €1,752 | €1,119 | -€633 | -36.1% |
| Other amounts payable | 47/48 | €617,893 | €628,211 | +€10,317 | +1.7% |
| Accrued charges and deferred income | 492/3 | €11,374 | €12,490 | +€1,116 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,339 | €24,154 | +€1,815 | +8.1% |
| Other operating charges | 640/8 | €8,847 | €7,727 | -€1,120 | -12.7% |
| Gross operating margin | 9900 | €136,130 | €14,609 | -€121,521 | -89.3% |
| Operating profit (loss) | 9901 | €104,944 | -€17,272 | -€122,216 | |
| Financial income | 75/76B | €980 | €176 | -€804 | -82.0% |
| Recurring financial income | 75 | €980 | €176 | -€804 | -82.0% |
| Financial charges | 65/66B | €21,656 | €19,809 | -€1,847 | -8.5% |
| Recurring financial charges | 65 | €21,656 | €19,809 | -€1,847 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €84,268 | -€36,905 | -€121,173 | |
| Transfer from deferred taxes | 780 | €1,536 | €320 | -€1,216 | -79.2% |
| Income taxes | 67/77 | €418 | €497 | +€79 | +19.0% |
| Profit (loss) for the period | 9904 | €85,386 | -€37,081 | -€122,468 | |
| Transfer from tax-exempt reserves | 789 | €2,982 | €621 | -€2,361 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,369 | -€36,460 | -€124,829 |
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 7 October 2026 via checked.be.