LIMBRO: 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
LIMBRO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€426,257
2024 · -€473,161+€899,418
Equity
€2.5m
2024 · €2.1m+€426,257
Cash
€311,033
2024 · €206,919+€104,114
Balance sheet total
€3.9m
2024 · €4.1m-€168,166
Largest movements
Assets
- Tangible fixed assets -€299,453
down €299,453 (-8.7%), from €3.4m to €3.1m
of which Land and buildings: -€304,186
- Cash +€104,114
up €104,114 (+50.3%), from €206,919 to €311,033
mainly Net result for the year (+€426,257) and Depreciation (+€255,874)
Equity and liabilities
- Debts after one year -€557,367
down €557,367 (-38.9%), from €1.4m to €875,183
of which Financial debts: -€556,867
- Profit (loss) carried forward +€431,170
no longer reported in 2025 (was -€431,170)
- Provisions -€45,706
down €45,706 (-21.8%), from €209,943 to €164,237
Income statement
- Gross operating margin +€889,776
up €889,776 (+6837.0%), from €13,014 to €902,791
- Taxes +€42,444
up €42,444 (+19582.1%), from €217 to €42,661
- Financial charges -€25,770
down €25,770 (-29.4%), from €87,644 to €61,875
- Depreciation -€11,007
down €11,007 (-4.1%), from €266,881 to €255,874
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
-€473,161
Gross operating margin
+€889,776
Staff costs
-€2,235
Depreciation
+€11,007
Write-downs
-€1,725
Other operating charges
+€418
Financial income
-€6,478
Financial charges
+€25,770
Taxes
-€42,444
Deferred taxes and other
+€25,329
Result 2025
€426,257
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.
From operations
+€635,103
Investment
+€43,732
Financing
-€574,721
Cash 2024
€206,919
From operations (derived)
+€635,103
Net result for the year
+€426,257
Depreciation
+€255,874
Stocks and contracts
-€4,277
Receivables within one year
-€23,244
Smaller working-capital items
+€408
Provisions
-€45,706
Trade debts
+€29,735
Tax, wage and social debts
+€5,689
Accrued charges and deferred income
-€9,632
Investment (derived)
+€43,732
Investment in fixed assets (net)
+€43,732
Financing
-€574,721
Debts after one year
-€557,367
Current portion of long-term debt
-€35,628
Short-term financial debts
+€18,274
Cash 2025
€311,033
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,053,646 | €3,885,480 | -€168,166 | -4.1% |
| Fixed assets | 21/28 | €3,437,574 | €3,137,968 | -€299,606 | -8.7% |
| Intangible fixed assets | 21 | €3,917 | €445 | -€3,472 | -88.6% |
| Tangible fixed assets | 22/27 | €3,428,256 | €3,128,804 | -€299,453 | -8.7% |
| Land and buildings | 22 | €3,427,242 | €3,123,056 | -€304,186 | -8.9% |
| Furniture and vehicles | 24 | €1,015 | €5,748 | +€4,733 | +466.5% |
| Financial fixed assets | 28 | €5,400 | €8,719 | +€3,319 | +61.5% |
| Current assets | 29/58 | €616,073 | €747,512 | +€131,439 | +21.3% |
| Stocks and contracts in progress | 3 | €264,697 | €268,975 | +€4,277 | +1.6% |
| Stocks | 30/36 | €264,697 | €268,975 | +€4,277 | +1.6% |
| Amounts receivable within one year | 40/41 | €139,875 | €163,119 | +€23,244 | +16.6% |
| Trade receivables | 40 | €127,074 | €99,968 | -€27,106 | -21.3% |
| Other amounts receivable | 41 | €12,801 | €63,151 | +€50,350 | +393.3% |
| Cash at bank and in hand | 54/58 | €206,919 | €311,033 | +€104,114 | +50.3% |
| Deferred charges and accrued income | 490/1 | €4,581 | €4,385 | -€196 | -4.3% |
| Total equity and liabilities | 10/49 | €4,053,646 | €3,885,480 | -€168,166 | -4.1% |
| Equity | 10/15 | €2,050,073 | €2,476,330 | +€426,257 | +20.8% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,481,242 | €1,476,330 | -€4,912 | -0.3% |
| Non-distributable reserves | 130/1 | €50,213 | €54,533 | +€4,320 | +8.6% |
| Legal reserve | 130 | €50,213 | €54,533 | +€4,320 | +8.6% |
| Tax-exempt reserves | 132 | €444,758 | €353,441 | -€91,317 | -20.5% |
| Distributable reserves | 133 | €986,271 | €1,068,355 | +€82,084 | +8.3% |
| Profit (loss) carried forward | 14 | -€431,170 | - | +€431,170 | |
| Provisions and deferred taxes | 16 | €209,943 | €164,237 | -€45,706 | -21.8% |
| Deferred taxes | 168 | €209,943 | €164,237 | -€45,706 | -21.8% |
| Amounts payable | 17/49 | €1,793,630 | €1,244,913 | -€548,717 | -30.6% |
| Amounts payable after more than one year | 17 | €1,432,551 | €875,183 | -€557,367 | -38.9% |
| Financial debts | 170/4 | €1,283,081 | €726,213 | -€556,867 | -43.4% |
| Other amounts payable | 178/9 | €149,470 | €148,970 | -€500 | -0.3% |
| Amounts payable within one year | 42/48 | €281,594 | €299,876 | +€18,282 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €192,495 | €156,867 | -€35,628 | -18.5% |
| Financial debts | 43 | €6,977 | €25,252 | +€18,274 | +261.9% |
| Credit institutions | 430/8 | €6,977 | €25,252 | +€18,274 | +261.9% |
| Trade debts | 44 | €68,181 | €97,916 | +€29,735 | +43.6% |
| Suppliers | 440/4 | €68,181 | €97,916 | +€29,735 | +43.6% |
| Taxes, remuneration and social security | 45 | €10,096 | €15,785 | +€5,689 | +56.4% |
| Taxes | 450/3 | €3,311 | €8,757 | +€5,447 | +164.5% |
| Remuneration and social security | 454/9 | €6,785 | €7,028 | +€243 | +3.6% |
| Other amounts payable | 47/48 | €3,845 | €4,057 | +€212 | +5.5% |
| Accrued charges and deferred income | 492/3 | €79,486 | €69,854 | -€9,632 | -12.1% |
| Non-recurring operating income | 76A | - | €14,792 | +€14,792 | |
| Remuneration, social security and pensions | 62 | €58,499 | €60,735 | +€2,235 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,881 | €255,874 | -€11,007 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,165 | €560 | +€1,725 | |
| Other operating charges | 640/8 | €100,972 | €100,554 | -€418 | -0.4% |
| Gross operating margin | 9900 | €13,014 | €902,791 | +€889,776 | +6837.0% |
| Operating profit (loss) | 9901 | -€412,173 | €485,068 | +€897,242 | |
| Financial income | 75/76B | €6,497 | €18 | -€6,478 | -99.7% |
| Recurring financial income | 75 | €6,497 | €18 | -€6,478 | -99.7% |
| Financial charges | 65/66B | €87,644 | €61,875 | -€25,770 | -29.4% |
| Recurring financial charges | 65 | €87,644 | €61,875 | -€25,770 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€493,321 | €423,212 | +€916,533 | |
| Transfer from deferred taxes | 780 | €20,377 | €45,706 | +€25,329 | +124.3% |
| Income taxes | 67/77 | €217 | €42,661 | +€42,444 | +19582.1% |
| Profit (loss) for the period | 9904 | -€473,161 | €426,257 | +€899,418 | |
| Transfer from tax-exempt reserves | 789 | €41,991 | €91,317 | +€49,326 | +117.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€431,170 | €517,574 | +€948,744 |
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 10 October 2026 via checked.be.