I.D.Z.: 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.
What changed
I.D.Z.
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€139,892
2024 · -€61,290-€78,602
Equity
€2.3m
2024 · €2.4m-€139,891
Cash
€130,503
2024 · €113,637+€16,866
Balance sheet total
€2.9m
2024 · €2.6m+€296,477
Largest movements
Assets
- Tangible fixed assets +€473,631
up €473,631 (+35.0%), from €1.4m to €1.8m
of which Land and buildings: +€493,717
- Current investments -€192,660
down €192,660 (-17.2%), from €1.1m to €928,333
Equity and liabilities
- Debts after one year +€414,243
up €414,243 (+395%), from €104,870 to €519,113
- Profit (loss) carried forward -€139,892
down €139,892 (-11.8%), from €1.2m to €1.0m
Income statement
- Financial charges +€44,587
up €44,587, from -€27,330 to €17,257
- Depreciation +€31,487
up €31,487 (+57.4%), from €54,852 to €86,339
- Gross operating margin -€14,443
down €14,443 (-34.2%), from -€42,200 to -€56,643
- Financial income +€12,555
up €12,555 (+88.7%), from €14,161 to €26,716
- Other operating charges +€656
up €656 (+12.4%), from €5,268 to €5,924
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
-€61,290
Gross operating margin
-€14,443
Depreciation
-€31,487
Other operating charges
-€656
Financial income
+€12,555
Financial charges
-€44,587
Taxes
+€15
Result 2025
-€139,892
raises the resultlowers the result
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.
From operations
-€52,398
Investment
-€367,310
Financing
+€436,575
Cash 2024
€113,637
From operations (derived)
-€52,398
Net result for the year
-€139,892
Depreciation
+€86,339
Receivables within one year
+€2,123
Smaller working-capital items
-€1,060
Tax, wage and social debts
+€4,373
Other debts
-€4,282
Investment (derived)
-€367,310
Investment in fixed assets (net)
-€559,970
Current investments
+€192,660
Financing
+€436,575
Debts after one year
+€414,243
Current portion of long-term debt
+€22,331
Contributions, distributions and other
+€1
Cash 2025
€130,503
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,633,611 | €2,930,088 | +€296,477 | +11.3% |
| Fixed assets | 21/28 | €1,353,013 | €1,826,644 | +€473,631 | +35.0% |
| Tangible fixed assets | 22/27 | €1,353,013 | €1,826,644 | +€473,631 | +35.0% |
| Land and buildings | 22 | €835,730 | €1,329,447 | +€493,717 | +59.1% |
| Furniture and vehicles | 24 | €49,633 | €29,547 | -€20,086 | -40.5% |
| Other tangible fixed assets | 26 | €467,650 | €467,650 | = | 0.0% |
| Current assets | 29/58 | €1,280,598 | €1,103,444 | -€177,154 | -13.8% |
| Amounts receivable within one year | 40/41 | €36,311 | €34,188 | -€2,123 | -5.8% |
| Trade receivables | 40 | €48 | €875 | +€827 | +1,723% |
| Other amounts receivable | 41 | €36,263 | €33,313 | -€2,950 | -8.1% |
| Current investments | 50/53 | €1,120,993 | €928,333 | -€192,660 | -17.2% |
| Cash at bank and in hand | 54/58 | €113,637 | €130,503 | +€16,866 | +14.8% |
| Deferred charges and accrued income | 490/1 | €9,657 | €10,419 | +€762 | +7.9% |
| Total equity and liabilities | 10/49 | €2,633,611 | €2,930,088 | +€296,477 | +11.3% |
| Equity | 10/15 | €2,445,830 | €2,305,939 | -€139,891 | -5.7% |
| Contributions | 10/11 | €1,166,408 | €1,166,408 | +€0 | 0.0% |
| Capital | 10 | €1,166,408 | €1,166,408 | +€0 | 0.0% |
| Issued capital | 100 | €1,166,408 | €1,166,408 | +€0 | 0.0% |
| Reserves | 13 | €92,792 | €92,792 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €90,954 | €90,954 | +€0 | 0.0% |
| Legal reserve | 130 | €90,954 | €90,954 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €1,838 | €1,838 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €1,186,630 | €1,046,738 | -€139,892 | -11.8% |
| Amounts payable | 17/49 | €187,781 | €624,149 | +€436,368 | +232% |
| Amounts payable after more than one year | 17 | €104,870 | €519,113 | +€414,243 | +395% |
| Financial debts | 170/4 | €104,870 | €519,113 | +€414,243 | +395% |
| Amounts payable within one year | 42/48 | €82,624 | €104,630 | +€22,006 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €67,636 | €89,967 | +€22,331 | +33.0% |
| Trade debts | 44 | €959 | €543 | -€416 | -43.4% |
| Suppliers | 440/4 | €959 | €543 | -€416 | -43.4% |
| Taxes, remuneration and social security | 45 | €1,750 | €6,123 | +€4,373 | +250% |
| Taxes | 450/3 | €1,750 | €6,123 | +€4,373 | +250% |
| Other amounts payable | 47/48 | €12,279 | €7,997 | -€4,282 | -34.9% |
| Accrued charges and deferred income | 492/3 | €287 | €406 | +€119 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,852 | €86,339 | +€31,487 | +57.4% |
| Other operating charges | 640/8 | €5,268 | €5,924 | +€656 | +12.4% |
| Gross operating margin | 9900 | -€42,200 | -€56,643 | -€14,443 | -34.2% |
| Operating profit (loss) | 9901 | -€102,320 | -€148,905 | -€46,585 | -45.5% |
| Financial income | 75/76B | €14,161 | €26,716 | +€12,555 | +88.7% |
| Recurring financial income | 75 | €14,161 | €26,716 | +€12,555 | +88.7% |
| Financial charges | 65/66B | -€27,330 | €17,257 | +€44,587 | |
| Recurring financial charges | 65 | -€27,330 | €17,257 | +€44,587 | |
| Profit (loss) for the period before taxes | 9903 | -€60,829 | -€139,446 | -€78,617 | -129% |
| Income taxes | 67/77 | €461 | €446 | -€15 | -3.3% |
| Profit (loss) for the period | 9904 | -€61,290 | -€139,892 | -€78,602 | -128% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,290 | -€139,892 | -€78,602 | -128% |
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 28 October 2026 via checked.be.