INVESTATE DEVELOPMENT: 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
INVESTATE DEVELOPMENT
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,382
2024 · -€70,242+€66,860
Equity
€2.1m
2024 · €2.1m-€3,382
Cash
€18,197
2024 · €61,243-€43,046
Balance sheet total
€6.4m
2024 · €6.5m-€118,639
Largest movements
Assets
- Receivables within one year -€224,968
down €224,968 (-20.6%), from €1.1m to €866,142
of which Other amounts receivable: -€225,118
- Stocks and contracts +€117,452
up €117,452 (+2.6%), from €4.6m to €4.7m
Equity and liabilities
- Short-term financial debts -€121,060
down €121,060 (-3.0%), from €4.0m to €3.9m
Income statement
- Gross operating margin +€83,194
up €83,194 (+42.2%), from €197,082 to €280,275
- Financial charges +€46,972
up €46,972 (+29.7%), from €158,266 to €205,238
- Taxes -€40,997
down €40,997 (-80.4%), from €51,019 to €10,022
- Financial income -€7,449
down €7,449 (-48.1%), from €15,499 to €8,050
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
-€70,242
Gross operating margin
+€83,194
Staff costs
-€1,786
Other operating charges
-€1,124
Financial income
-€7,449
Financial charges
-€46,972
Taxes
+€40,997
Result 2025
-€3,382
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
+€128,014
Investment
€0
Financing
-€171,060
Cash 2024
€61,243
From operations (derived)
+€128,014
Net result for the year
-€3,382
Stocks and contracts
-€117,452
Receivables within one year
+€224,968
Deferred charges and accrued income
-€31,922
Trade debts
+€12,694
Tax, wage and social debts
+€459
Other debts
+€42,650
Financing
-€171,060
Debts after one year
-€50,000
Short-term financial debts
-€121,060
Cash 2025
€18,197
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,539,708 | €6,421,069 | -€118,639 | -1.8% |
| Fixed assets | 21/28 | €500,290 | €500,290 | = | 0.0% |
| Tangible fixed assets | 22/27 | €500,000 | €500,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €500,000 | €500,000 | = | 0.0% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €6,039,418 | €5,920,779 | -€118,639 | -2.0% |
| Stocks and contracts in progress | 3 | €4,556,568 | €4,674,020 | +€117,452 | +2.6% |
| Stocks | 30/36 | €4,556,568 | €4,674,020 | +€117,452 | +2.6% |
| Amounts receivable within one year | 40/41 | €1,091,110 | €866,142 | -€224,968 | -20.6% |
| Trade receivables | 40 | €58,379 | €58,529 | +€150 | +0.3% |
| Other amounts receivable | 41 | €1,032,730 | €807,613 | -€225,118 | -21.8% |
| Current investments | 50/53 | €330,000 | €330,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,243 | €18,197 | -€43,046 | -70.3% |
| Deferred charges and accrued income | 490/1 | €498 | €32,420 | +€31,922 | +6,412% |
| Total equity and liabilities | 10/49 | €6,539,708 | €6,421,069 | -€118,639 | -1.8% |
| Equity | 10/15 | €2,139,260 | €2,135,878 | -€3,382 | -0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,008,050 | €1,008,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €382,000 | €382,000 | = | 0.0% |
| Legal reserve | 130 | €52,000 | €52,000 | = | 0.0% |
| Own shares acquired | 1312 | €330,000 | €330,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €520,800 | €520,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,069,210 | €1,065,828 | -€3,382 | -0.3% |
| Amounts payable | 17/49 | €4,400,449 | €4,285,191 | -€115,258 | -2.6% |
| Amounts payable after more than one year | 17 | €56,240 | €6,240 | -€50,000 | -88.9% |
| Financial debts | 170/4 | €50,000 | - | -€50,000 | |
| Other amounts payable | 178/9 | €6,240 | €6,240 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,344,209 | €4,278,951 | -€65,258 | -1.5% |
| Financial debts | 43 | €4,001,060 | €3,880,000 | -€121,060 | -3.0% |
| Credit institutions | 430/8 | €4,001,060 | €3,880,000 | -€121,060 | -3.0% |
| Trade debts | 44 | €5,546 | €18,239 | +€12,694 | +229% |
| Suppliers | 440/4 | €5,546 | €18,239 | +€12,694 | +229% |
| Taxes, remuneration and social security | 45 | €7,603 | €8,062 | +€459 | +6.0% |
| Taxes | 450/3 | €10 | €1,825 | +€1,816 | +18,837% |
| Remuneration and social security | 454/9 | €7,593 | €6,236 | -€1,357 | -17.9% |
| Other amounts payable | 47/48 | €330,000 | €372,650 | +€42,650 | +12.9% |
| Remuneration, social security and pensions | 62 | €43,092 | €44,878 | +€1,786 | +4.1% |
| Other operating charges | 640/8 | €30,445 | €31,569 | +€1,124 | +3.7% |
| Gross operating margin | 9900 | €197,082 | €280,275 | +€83,194 | +42.2% |
| Operating profit (loss) | 9901 | €123,545 | €203,829 | +€80,284 | +65.0% |
| Financial income | 75/76B | €15,499 | €8,050 | -€7,449 | -48.1% |
| Recurring financial income | 75 | €15,499 | €8,050 | -€7,449 | -48.1% |
| Financial charges | 65/66B | €158,266 | €205,238 | +€46,972 | +29.7% |
| Recurring financial charges | 65 | €158,266 | €205,238 | +€46,972 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,222 | €6,641 | +€25,863 | |
| Income taxes | 67/77 | €51,019 | €10,022 | -€40,997 | -80.4% |
| Profit (loss) for the period | 9904 | -€70,242 | -€3,382 | +€66,860 | +95.2% |
| Transfer from tax-exempt reserves | 789 | €49,840 | - | -€49,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,402 | -€3,382 | +€17,020 | +83.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.