LACE PEARL: what changed
What changed
LACE PEARL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€30,027
2024 · €35,505-€5,478
Equity
€301,901
2024 · €301,263+€638
Cash
€77,576
2024 · €49,167+€28,408
Balance sheet total
€312,051
2024 · €316,760-€4,709
Largest movements
Assets
- Current investments -€40,000
down €40,000 (-43.4%), from €92,101 to €52,101
- Cash +€28,408
up €28,408 (+57.8%), from €49,167 to €77,576
mainly Current investments (+€40,000) and Net result for the year (+€30,027)
- Tangible fixed assets +€7,368
up €7,368 (+4.2%), from €173,381 to €180,749
of which Land and buildings: +€7,626
Equity and liabilities
- Tax, wage and social debts -€4,745
down €4,745 (-58.2%), from €8,150 to €3,405
Income statement
- Gross operating margin -€6,709
down €6,709 (-11.8%), from €56,759 to €50,050
- Taxes -€2,719
down €2,719 (-16.3%), from €16,732 to €14,012
- Financial charges +€1,604
up €1,604, from -€1,452 to €152
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€35,505
Gross operating margin
-€6,709
Depreciation
-€446
Other operating charges
+€469
Financial income
+€93
Financial charges
-€1,604
Taxes
+€2,719
Result 2025
€30,027
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€31,014
Investment
+€26,783
Financing
-€29,389
Cash 2024
€49,167
From operations (derived)
+€31,014
Net result for the year
+€30,027
Depreciation
+€5,849
Deferred charges and accrued income
+€485
Tax, wage and social debts
-€4,745
Other debts
+€48
Accrued charges and deferred income
-€649
Investment (derived)
+€26,783
Investment in fixed assets (net)
-€13,217
Current investments
+€40,000
Financing
-€29,389
Contributions, distributions and other
-€29,389
Cash 2025
€77,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €316,760 | €312,051 | -€4,709 | -1.5% |
| Fixed assets | 21/28 | €174,242 | €181,610 | +€7,368 | +4.2% |
| Tangible fixed assets | 22/27 | €173,381 | €180,749 | +€7,368 | +4.2% |
| Land and buildings | 22 | €172,309 | €179,935 | +€7,626 | +4.4% |
| Other tangible fixed assets | 26 | €1,072 | €814 | -€258 | -24.0% |
| Financial fixed assets | 28 | €861 | €861 | = | 0.0% |
| Current assets | 29/58 | €142,518 | €130,441 | -€12,077 | -8.5% |
| Current investments | 50/53 | €92,101 | €52,101 | -€40,000 | -43.4% |
| Cash at bank and in hand | 54/58 | €49,167 | €77,576 | +€28,408 | +57.8% |
| Deferred charges and accrued income | 490/1 | €1,250 | €765 | -€485 | -38.8% |
| Total equity and liabilities | 10/49 | €316,760 | €312,051 | -€4,709 | -1.5% |
| Equity | 10/15 | €301,263 | €301,901 | +€638 | +0.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €231,263 | €231,901 | +€638 | +0.3% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,356 | €49,356 | = | 0.0% |
| Distributable reserves | 133 | €174,907 | €175,545 | +€638 | +0.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,497 | €10,151 | -€5,347 | -34.5% |
| Amounts payable within one year | 42/48 | €11,232 | €6,534 | -€4,697 | -41.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,150 | €3,405 | -€4,745 | -58.2% |
| Taxes | 450/3 | €8,150 | €3,405 | -€4,745 | -58.2% |
| Other amounts payable | 47/48 | €3,082 | €3,130 | +€48 | +1.6% |
| Accrued charges and deferred income | 492/3 | €4,266 | €3,616 | -€649 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,403 | €5,849 | +€446 | +8.3% |
| Other operating charges | 640/8 | €2,512 | €2,042 | -€469 | -18.7% |
| Gross operating margin | 9900 | €56,759 | €50,050 | -€6,709 | -11.8% |
| Operating profit (loss) | 9901 | €48,845 | €42,158 | -€6,686 | -13.7% |
| Financial income | 75/76B | €1,940 | €2,033 | +€93 | +4.8% |
| Recurring financial income | 75 | €1,940 | €2,033 | +€93 | +4.8% |
| Financial charges | 65/66B | -€1,452 | €152 | +€1,604 | |
| Recurring financial charges | 65 | -€1,452 | €152 | +€1,604 | |
| Profit (loss) for the period before taxes | 9903 | €52,237 | €44,039 | -€8,198 | -15.7% |
| Income taxes | 67/77 | €16,732 | €14,012 | -€2,719 | -16.3% |
| Profit (loss) for the period | 9904 | €35,505 | €30,027 | -€5,478 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,505 | €30,027 | -€5,478 | -15.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.