HET MAKELAARSKANTOOR: 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.
HET MAKELAARSKANTOOR
Largest movements
- Stocks and contracts -€292,560
down €292,560 (-33.5%), from €873,000 to €580,440
- Current investments -€21,185
down €21,185 (-25.7%), from €82,311 to €61,127
- Receivables after one year -€16,430
down €16,430 (-7.8%), from €209,767 to €193,336
- Debts after one year -€436,200
down €436,200 (-46.3%), from €941,204 to €505,004
- Trade debts +€91,187
up €91,187 (+10,974%), from €831 to €92,018
- Accrued charges and deferred income -€59,023
down €59,023 (-92.2%), from €64,023 to €5,000
- Reserves +€39,117
up €39,117 (+20.6%), from €189,549 to €228,665
of which Distributable reserves: +€39,117
- Other debts +€25,500
new in 2025: €25,500
- Gross operating margin +€67,741
up €67,741 (+74.8%), from €90,539 to €158,280
- Taxes +€28,817
up €28,817 (+147%), from €19,537 to €48,354
- Other operating charges +€13,240
up €13,240 (+183%), from €7,241 to €20,481
- Financial income +€5,714
up €5,714 (+44.8%), from €12,765 to €18,479
- Financial charges -€1,687
down €1,687 (-4.7%), from €36,273 to €34,586
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 | €1,505,716 | €1,185,918 | -€319,798 | -21.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €177,064 | €170,114 | -€6,950 | -3.9% |
| Tangible fixed assets | 22/27 | €174,719 | €167,769 | -€6,950 | -4.0% |
| Land and buildings | 22 | €170,043 | €164,986 | -€5,057 | -3.0% |
| Plant, machinery and equipment | 23 | €4,239 | €2,585 | -€1,654 | -39.0% |
| Furniture and vehicles | 24 | €437 | €198 | -€239 | -54.7% |
| Financial fixed assets | 28 | €2,345 | €2,345 | = | 0.0% |
| Current assets | 29/58 | €1,328,652 | €1,015,804 | -€312,848 | -23.5% |
| Amounts receivable after more than one year | 29 | €209,767 | €193,336 | -€16,430 | -7.8% |
| Other amounts receivable | 291 | €209,767 | €193,336 | -€16,430 | -7.8% |
| Stocks and contracts in progress | 3 | €873,000 | €580,440 | -€292,560 | -33.5% |
| Stocks | 30/36 | €873,000 | €580,440 | -€292,560 | -33.5% |
| Amounts receivable within one year | 40/41 | €52,303 | €59,616 | +€7,314 | +14.0% |
| Trade receivables | 40 | €4,235 | €11,603 | +€7,368 | +174% |
| Other amounts receivable | 41 | €48,068 | €48,013 | -€54 | -0.1% |
| Current investments | 50/53 | €82,311 | €61,127 | -€21,185 | -25.7% |
| Cash at bank and in hand | 54/58 | €101,649 | €112,320 | +€10,671 | +10.5% |
| Deferred charges and accrued income | 490/1 | €9,622 | €8,965 | -€658 | -6.8% |
| Total equity and liabilities | 10/49 | €1,505,716 | €1,185,918 | -€319,798 | -21.2% |
| Equity | 10/15 | €437,056 | €476,172 | +€39,117 | +9.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €189,549 | €228,665 | +€39,117 | +20.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €187,690 | €226,806 | +€39,117 | +20.8% |
| Profit (loss) carried forward | 14 | €241,310 | €241,310 | = | 0.0% |
| Amounts payable | 17/49 | €1,068,660 | €709,745 | -€358,914 | -33.6% |
| Amounts payable after more than one year | 17 | €941,204 | €505,004 | -€436,200 | -46.3% |
| Financial debts | 170/4 | €941,204 | €505,004 | -€436,200 | -46.3% |
| Amounts payable within one year | 42/48 | €63,433 | €199,741 | +€136,308 | +215% |
| Current portion of amounts payable after more than one year | 42 | €47,788 | €52,312 | +€4,524 | +9.5% |
| Trade debts | 44 | €831 | €92,018 | +€91,187 | +10,974% |
| Suppliers | 440/4 | €831 | €92,018 | +€91,187 | +10,974% |
| Taxes, remuneration and social security | 45 | €14,814 | €29,912 | +€15,097 | +102% |
| Taxes | 450/3 | €14,814 | €29,912 | +€15,097 | +102% |
| Other amounts payable | 47/48 | - | €25,500 | +€25,500 | |
| Accrued charges and deferred income | 492/3 | €64,023 | €5,000 | -€59,023 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,108 | €6,950 | -€159 | -2.2% |
| Other operating charges | 640/8 | €7,241 | €20,481 | +€13,240 | +183% |
| Gross operating margin | 9900 | €90,539 | €158,280 | +€67,741 | +74.8% |
| Operating profit (loss) | 9901 | €76,189 | €130,850 | +€54,661 | +71.7% |
| Financial income | 75/76B | €12,765 | €18,479 | +€5,714 | +44.8% |
| Recurring financial income | 75 | €12,765 | €18,479 | +€5,714 | +44.8% |
| Financial charges | 65/66B | €36,273 | €34,586 | -€1,687 | -4.7% |
| Recurring financial charges | 65 | €36,273 | €34,586 | -€1,687 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €52,681 | €114,743 | +€62,062 | +118% |
| Income taxes | 67/77 | €19,537 | €48,354 | +€28,817 | +147% |
| Profit (loss) for the period | 9904 | €33,144 | €66,389 | +€33,245 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €33,144 | €66,389 | +€33,245 | +100% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.