HOUSING AND DEVELOPMENT PROJECTS: 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.
HOUSING AND DEVELOPMENT PROJECTS
Largest movements
- Tangible fixed assets -€73,023
down €73,023 (-10.7%), from €681,475 to €608,452
of which Land and buildings: -€56,121
- Cash +€7,566
up €7,566 (+64.7%), from €11,688 to €19,254
mainly Depreciation (+€84,075) and Net result for the year (+€26,089)
- Current portion of long-term debt -€47,536
down €47,536 (-58.6%), from €81,086 to €33,549
- Debts after one year -€33,549
down €33,549 (-90.8%), from €36,949 to €3,400
- Reserves +€26,000
up €26,000 (+9.0%), from €287,586 to €313,586
of which Distributable reserves: +€26,000
- Gross operating margin -€4,554
down €4,554 (-3.1%), from €144,819 to €140,265
- Financial charges -€4,496
down €4,496 (-56.7%), from €7,930 to €3,434
- Taxes -€2,429
down €2,429 (-19.1%), from €12,693 to €10,264
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €695,313 | €634,650 | -€60,664 | -8.7% |
| Fixed assets | 21/28 | €681,475 | €608,452 | -€73,023 | -10.7% |
| Tangible fixed assets | 22/27 | €681,475 | €608,452 | -€73,023 | -10.7% |
| Land and buildings | 22 | €529,940 | €473,819 | -€56,121 | -10.6% |
| Plant, machinery and equipment | 23 | €133,043 | €123,445 | -€9,598 | -7.2% |
| Furniture and vehicles | 24 | €4,013 | €1,306 | -€2,708 | -67.5% |
| Other tangible fixed assets | 26 | €14,478 | €9,882 | -€4,596 | -31.7% |
| Current assets | 29/58 | €13,838 | €26,198 | +€12,359 | +89.3% |
| Amounts receivable within one year | 40/41 | €1,337 | €5,736 | +€4,399 | +329.1% |
| Other amounts receivable | 41 | €1,337 | €5,736 | +€4,399 | +329.1% |
| Cash at bank and in hand | 54/58 | €11,688 | €19,254 | +€7,566 | +64.7% |
| Deferred charges and accrued income | 490/1 | €814 | €1,208 | +€394 | +48.4% |
| Total equity and liabilities | 10/49 | €695,313 | €634,650 | -€60,664 | -8.7% |
| Equity | 10/15 | €438,412 | €464,500 | +€26,089 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €287,586 | €313,586 | +€26,000 | +9.0% |
| Non-distributable reserves | 130/1 | €22,233 | €22,233 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,233 | €22,233 | = | 0.0% |
| Distributable reserves | 133 | €265,353 | €291,353 | +€26,000 | +9.8% |
| Profit (loss) carried forward | 14 | €132,226 | €132,314 | +€89 | +0.1% |
| Amounts payable | 17/49 | €256,902 | €170,150 | -€86,752 | -33.8% |
| Amounts payable after more than one year | 17 | €36,949 | €3,400 | -€33,549 | -90.8% |
| Financial debts | 170/4 | €36,949 | €3,400 | -€33,549 | -90.8% |
| Amounts payable within one year | 42/48 | €217,397 | €165,775 | -€51,623 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €81,086 | €33,549 | -€47,536 | -58.6% |
| Trade debts | 44 | €6,758 | €2,582 | -€4,176 | -61.8% |
| Suppliers | 440/4 | €6,758 | €2,582 | -€4,176 | -61.8% |
| Taxes, remuneration and social security | 45 | €2,466 | €2,481 | +€16 | +0.6% |
| Remuneration and social security | 454/9 | €2,466 | €2,481 | +€16 | +0.6% |
| Other amounts payable | 47/48 | €127,088 | €127,162 | +€74 | +0.1% |
| Accrued charges and deferred income | 492/3 | €2,555 | €975 | -€1,580 | -61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,889 | €84,075 | +€185 | +0.2% |
| Other operating charges | 640/8 | €16,005 | €16,529 | +€524 | +3.3% |
| Non-recurring operating charges | 66A | - | -€113 | -€113 | |
| Gross operating margin | 9900 | €144,819 | €140,265 | -€4,554 | -3.1% |
| Operating profit (loss) | 9901 | €44,924 | €39,774 | -€5,150 | -11.5% |
| Financial income | 75/76B | €1 | €13 | +€12 | +1335.2% |
| Recurring financial income | 75 | €1 | €13 | +€12 | +1335.2% |
| Financial charges | 65/66B | €7,930 | €3,434 | -€4,496 | -56.7% |
| Recurring financial charges | 65 | €7,930 | €3,434 | -€4,496 | -56.7% |
| Profit (loss) for the period before taxes | 9903 | €36,995 | €36,353 | -€642 | -1.7% |
| Income taxes | 67/77 | €12,693 | €10,264 | -€2,429 | -19.1% |
| Profit (loss) for the period | 9904 | €24,302 | €26,089 | +€1,786 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,302 | €26,089 | +€1,786 | +7.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.