LA PINETA: 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
LA PINETA
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
-€128,783
2024 · -€25,876-€102,907
Equity
€302,767
2024 · €431,550-€128,783
Cash
€18,589
2024 · €12,958+€5,630
Balance sheet total
€2.4m
2024 · €2.6m-€130,120
Largest movements
Assets
- Tangible fixed assets -€123,570
down €123,570 (-4.9%), from €2.5m to €2.4m
of which Land and buildings: -€100,615
Equity and liabilities
- Other debts +€93,556
up €93,556 (+8.5%), from €1.1m to €1.2m
- Debts after one year -€91,767
down €91,767 (-19.1%), from €480,952 to €389,185
- Reserves -€66,056
down €66,056 (-2.5%), from €2.6m to €2.6m
of which Tax-exempt reserves: -€66,056
- Profit (loss) carried forward -€62,727
down €62,727 (-2.8%), from -€2.3m to -€2.3m
Income statement
- Gross operating margin -€107,502
down €107,502 (-68.5%), from €156,932 to €49,430
- Financial charges -€14,920
down €14,920 (-32.6%), from €45,700 to €30,780
- Other operating charges +€7,794
up €7,794 (+80.5%), from €9,681 to €17,475
- Depreciation +€6,216
up €6,216 (+4.3%), from €145,420 to €151,636
- Taxes -€2,406
down €2,406 (-87.5%), from €2,751 to €345
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
-€25,876
Gross operating margin
-€107,502
Staff costs
+€1,300
Depreciation
-€6,216
Other operating charges
-€7,794
Financial income
-€22
Financial charges
+€14,920
Taxes
+€2,406
Result 2025
-€128,783
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
+€120,071
Investment
-€28,066
Financing
-€86,374
Cash 2024
€12,958
From operations (derived)
+€120,071
Net result for the year
-€128,783
Depreciation
+€151,636
Stocks and contracts
-€604
Receivables within one year
+€14,679
Deferred charges and accrued income
-€1,894
Provisions
-€22,019
Trade debts
+€17,976
Tax, wage and social debts
-€3,399
Advances received
-€5,971
Other debts
+€93,556
Accrued charges and deferred income
+€4,895
Investment (derived)
-€28,066
Investment in fixed assets (net)
-€28,066
Financing
-€86,374
Debts after one year
-€91,767
Current portion of long-term debt
+€5,393
Cash 2025
€18,589
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,562,185 | €2,432,066 | -€130,120 | -5.1% |
| Fixed assets | 21/28 | €2,521,715 | €2,398,145 | -€123,570 | -4.9% |
| Tangible fixed assets | 22/27 | €2,520,064 | €2,396,494 | -€123,570 | -4.9% |
| Land and buildings | 22 | €2,430,163 | €2,329,548 | -€100,615 | -4.1% |
| Plant, machinery and equipment | 23 | €8,148 | €6,299 | -€1,849 | -22.7% |
| Furniture and vehicles | 24 | €81,753 | €60,648 | -€21,105 | -25.8% |
| Financial fixed assets | 28 | €1,651 | €1,651 | = | 0.0% |
| Current assets | 29/58 | €40,470 | €33,920 | -€6,550 | -16.2% |
| Stocks and contracts in progress | 3 | €6,573 | €7,177 | +€604 | +9.2% |
| Stocks | 30/36 | €6,573 | €7,177 | +€604 | +9.2% |
| Amounts receivable within one year | 40/41 | €20,471 | €5,792 | -€14,679 | -71.7% |
| Trade receivables | 40 | €14,999 | €1,874 | -€13,125 | -87.5% |
| Other amounts receivable | 41 | €5,472 | €3,918 | -€1,554 | -28.4% |
| Cash at bank and in hand | 54/58 | €12,958 | €18,589 | +€5,630 | +43.4% |
| Deferred charges and accrued income | 490/1 | €468 | €2,362 | +€1,894 | +405% |
| Total equity and liabilities | 10/49 | €2,562,185 | €2,432,066 | -€130,120 | -5.1% |
| Equity | 10/15 | €431,550 | €302,767 | -€128,783 | -29.8% |
| 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 | €2,643,966 | €2,577,911 | -€66,056 | -2.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,191,003 | €1,124,947 | -€66,056 | -5.5% |
| Distributable reserves | 133 | €1,446,764 | €1,446,764 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,274,416 | -€2,337,143 | -€62,727 | -2.8% |
| Provisions and deferred taxes | 16 | €397,972 | €375,954 | -€22,019 | -5.5% |
| Deferred taxes | 168 | €397,972 | €375,954 | -€22,019 | -5.5% |
| Amounts payable | 17/49 | €1,732,663 | €1,753,345 | +€20,682 | +1.2% |
| Amounts payable after more than one year | 17 | €480,952 | €389,185 | -€91,767 | -19.1% |
| Financial debts | 170/4 | €480,952 | €389,185 | -€91,767 | -19.1% |
| Amounts payable within one year | 42/48 | €1,236,189 | €1,343,744 | +€107,555 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €86,374 | €91,767 | +€5,393 | +6.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €34,267 | €52,243 | +€17,976 | +52.5% |
| Suppliers | 440/4 | €34,267 | €52,243 | +€17,976 | +52.5% |
| Advances received on contracts in progress | 46 | €5,971 | €0 | -€5,971 | -100% |
| Taxes, remuneration and social security | 45 | €13,594 | €10,194 | -€3,399 | -25.0% |
| Taxes | 450/3 | €13,594 | €10,194 | -€3,399 | -25.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,095,983 | €1,189,539 | +€93,556 | +8.5% |
| Accrued charges and deferred income | 492/3 | €15,521 | €20,416 | +€4,895 | +31.5% |
| Non-recurring operating income | 76A | €1,166 | €0 | -€1,166 | -100% |
| Remuneration, social security and pensions | 62 | €1,300 | €0 | -€1,300 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,420 | €151,636 | +€6,216 | +4.3% |
| Other operating charges | 640/8 | €9,681 | €17,475 | +€7,794 | +80.5% |
| Gross operating margin | 9900 | €156,932 | €49,430 | -€107,502 | -68.5% |
| Operating profit (loss) | 9901 | €530 | -€119,681 | -€120,212 | |
| Financial income | 75/76B | €27 | €5 | -€22 | -82.0% |
| Recurring financial income | 75 | €27 | €5 | -€22 | -82.0% |
| Financial charges | 65/66B | €45,700 | €30,780 | -€14,920 | -32.6% |
| Recurring financial charges | 65 | €45,700 | €30,780 | -€14,920 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,143 | -€150,457 | -€105,313 | -233% |
| Transfer from deferred taxes | 780 | €22,019 | €22,019 | = | 0.0% |
| Income taxes | 67/77 | €2,751 | €345 | -€2,406 | -87.5% |
| Profit (loss) for the period | 9904 | -€25,876 | -€128,783 | -€102,907 | -398% |
| Transfer from tax-exempt reserves | 789 | €66,056 | €66,056 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,180 | -€62,727 | -€102,907 |
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 25 October 2026 via checked.be.