HALIFAX PROPERTIES: 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
HALIFAX PROPERTIES
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€12,791
2023 · €29,024-€16,232
Equity
€667,004
2023 · €839,255-€172,251
Cash
€48,745
2023 · €31+€48,714
Balance sheet total
€1.6m
2023 · €2.1m-€534,569
Largest movements
Assets
- Financial fixed assets -€306,783
down €306,783 (-99.9%), from €306,986 to €203
- Tangible fixed assets -€287,429
down €287,429 (-20.1%), from €1.4m to €1.1m
- Cash +€48,714
up €48,714 (+158318.1%), from €31 to €48,745
mainly Investment in fixed assets (net) (+€545,507) and Depreciation (+€48,705)
Equity and liabilities
- Debts after one year -€321,564
down €321,564 (-32.5%), from €989,568 to €668,004
- Revaluation surpluses -€185,043
down €185,043 (-27.2%), from €680,246 to €495,204
- Other debts -€52,901
down €52,901 (-53.1%), from €99,682 to €46,781
Income statement
- Gross operating margin +€308,805
up €308,805 (+248.7%), from €124,178 to €432,983
- Financial charges +€295,016
up €295,016 (+1251.1%), from €23,580 to €318,596
of which Non-recurring financial charges: +€283,441
- Write-downs +€27,015
new in 2024: €27,015
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
€29,024
Gross operating margin
+€308,805
Depreciation
+€296
Write-downs
-€27,015
Other operating charges
-€1,269
Financial income
+€10
Financial charges
-€295,016
Taxes
-€2,043
Result 2024
€12,791
Cash bridge derived
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
+€7,617
Investment
+€545,507
Financing
-€504,409
Cash 2023
€31
From operations (derived)
+€7,617
Net result for the year
+€12,791
Depreciation
+€48,705
Receivables within one year
-€10,928
Provisions
-€2,417
Trade debts
-€7,197
Tax, wage and social debts
+€19,563
Other debts
-€52,901
Investment (derived)
+€545,507
Investment in fixed assets (net)
+€545,507
Financing
-€504,409
Debts after one year
-€321,564
Current portion of long-term debt
+€2,248
Short-term financial debts
-€50
Contributions, distributions and other
-€185,043
Cash 2024
€48,745
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,086,551 | €1,551,982 | -€534,569 | -25.6% |
| Fixed assets | 21/28 | €1,735,558 | €1,141,346 | -€594,212 | -34.2% |
| Tangible fixed assets | 22/27 | €1,428,572 | €1,141,143 | -€287,429 | -20.1% |
| Land and buildings | 22 | €1,428,572 | €1,141,143 | -€287,429 | -20.1% |
| Financial fixed assets | 28 | €306,986 | €203 | -€306,783 | -99.9% |
| Current assets | 29/58 | €350,993 | €410,636 | +€59,643 | +17.0% |
| Amounts receivable after more than one year | 29 | €172,500 | €172,500 | = | 0.0% |
| Other amounts receivable | 291 | €172,500 | €172,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €178,462 | €189,390 | +€10,928 | +6.1% |
| Trade receivables | 40 | €68,312 | €74,466 | +€6,154 | +9.0% |
| Other amounts receivable | 41 | €110,150 | €114,924 | +€4,774 | +4.3% |
| Cash at bank and in hand | 54/58 | €31 | €48,745 | +€48,714 | +158318.1% |
| Total equity and liabilities | 10/49 | €2,086,551 | €1,551,982 | -€534,569 | -25.6% |
| Equity | 10/15 | €839,255 | €667,004 | -€172,251 | -20.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €680,246 | €495,204 | -€185,043 | -27.2% |
| Reserves | 13 | €361,253 | €356,559 | -€4,693 | -1.3% |
| Tax-exempt reserves | 132 | €118,900 | €114,206 | -€4,693 | -3.9% |
| Distributable reserves | 133 | €242,353 | €242,353 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,217 | -€246,732 | +€17,485 | +6.6% |
| Provisions and deferred taxes | 16 | €61,224 | €58,807 | -€2,417 | -3.9% |
| Deferred taxes | 168 | €61,224 | €58,807 | -€2,417 | -3.9% |
| Amounts payable | 17/49 | €1,186,071 | €826,170 | -€359,901 | -30.3% |
| Amounts payable after more than one year | 17 | €989,568 | €668,004 | -€321,564 | -32.5% |
| Financial debts | 170/4 | €989,568 | €668,004 | -€321,564 | -32.5% |
| Amounts payable within one year | 42/48 | €196,503 | €158,166 | -€38,337 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €68,530 | €70,777 | +€2,248 | +3.3% |
| Financial debts | 43 | €59 | €9 | -€50 | -84.7% |
| Credit institutions | 430/8 | €59 | €9 | -€50 | -84.7% |
| Trade debts | 44 | €11,321 | €4,124 | -€7,197 | -63.6% |
| Suppliers | 440/4 | €11,321 | €4,124 | -€7,197 | -63.6% |
| Taxes, remuneration and social security | 45 | €16,911 | €36,475 | +€19,563 | +115.7% |
| Taxes | 450/3 | €16,911 | €36,475 | +€19,563 | +115.7% |
| Other amounts payable | 47/48 | €99,682 | €46,781 | -€52,901 | -53.1% |
| Non-recurring operating income | 76A | €23,365 | €369,707 | +€346,342 | +1482.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,001 | €48,705 | -€296 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,015 | +€27,015 | |
| Other operating charges | 640/8 | €16,584 | €17,853 | +€1,269 | +7.7% |
| Gross operating margin | 9900 | €124,178 | €432,983 | +€308,805 | +248.7% |
| Operating profit (loss) | 9901 | €58,593 | €339,410 | +€280,817 | +479.3% |
| Financial income | 75/76B | €2,550 | €2,560 | +€10 | +0.4% |
| Recurring financial income | 75 | €2,550 | €2,560 | +€10 | +0.4% |
| Financial charges | 65/66B | €23,580 | €318,596 | +€295,016 | +1251.1% |
| Recurring financial charges | 65 | €23,580 | €35,155 | +€11,575 | +49.1% |
| Non-recurring financial charges | 66B | - | €283,441 | +€283,441 | |
| Profit (loss) for the period before taxes | 9903 | €37,563 | €23,374 | -€14,189 | -37.8% |
| Transfer from deferred taxes | 780 | €2,417 | €2,417 | = | 0.0% |
| Income taxes | 67/77 | €10,956 | €12,999 | +€2,043 | +18.6% |
| Profit (loss) for the period | 9904 | €29,024 | €12,791 | -€16,232 | -55.9% |
| Transfer from tax-exempt reserves | 789 | €4,693 | €4,693 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,717 | €17,485 | -€16,232 | -48.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.