LIRO: what changed
Two fiscal 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
LIRO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.1m+€49,586
Equity
€7.8m
2024 · €7.1m+€744,963
Cash
€373,046
2024 · €357,442+€15,604
Balance sheet total
€14.3m
2024 · €14.6m-€349,510
Largest movements
Assets
- Tangible fixed assets -€373,355
down €373,355 (-3.1%), from €12.1m to €11.7m
of which Land and buildings: -€359,355
Equity and liabilities
- Reserves +€744,963
up €744,963 (+10.9%), from €6.9m to €7.6m
of which Distributable reserves: +€979,566
- Debts after one year -€546,300
down €546,300 (-11.0%), from €5.0m to €4.4m
- Provisions -€375,545
down €375,545 (-30.4%), from €1.2m to €858,769
of which Provisions for liabilities and charges: -€277,000
Income statement
- Provisions -€222,000
down €222,000 (-403.6%), from -€55,000 to -€277,000
- Write-downs +€130,403
up €130,403, from €0 to €130,403
- Gross operating margin -€118,429
down €118,429 (-5.1%), from €2.3m to €2.2m
- Taxes -€34,758
down €34,758 (-7.4%), from €468,441 to €433,683
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
€1.1m
Gross operating margin
-€118,429
Depreciation
-€5,381
Write-downs
-€130,403
Provisions
+€222,000
Other operating charges
+€7,256
Other operating items
+€144
Financial income
+€21,479
Financial charges
+€18,160
Taxes
+€34,758
Result 2025
€1.1m
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
+€1.2m
Investment
-€161,085
Financing
-€988,656
Cash 2024
€357,442
From operations (derived)
+€1.2m
Net result for the year
+€1.1m
Depreciation
+€534,441
Receivables within one year
-€58,669
Deferred charges and accrued income
+€50,428
Provisions
-€375,545
Trade debts
+€5,875
Tax, wage and social debts
-€103,047
Other debts
-€3,100
Investment (derived)
-€161,085
Investment in fixed assets (net)
-€161,085
Financing
-€988,656
Debts after one year
-€546,300
Current portion of long-term debt
-€5,683
Short-term financial debts
-€66,673
Contributions, distributions and other
-€370,000
Cash 2025
€373,046
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,649,771 | €14,300,261 | -€349,510 | -2.4% |
| Fixed assets | 21/28 | €13,364,311 | €12,990,955 | -€373,355 | -2.8% |
| Tangible fixed assets | 22/27 | €12,088,903 | €11,715,547 | -€373,355 | -3.1% |
| Land and buildings | 22 | €12,048,130 | €11,688,775 | -€359,355 | -3.0% |
| Furniture and vehicles | 24 | €40,773 | €26,773 | -€14,000 | -34.3% |
| Financial fixed assets | 28 | €1,275,408 | €1,275,408 | = | 0.0% |
| Current assets | 29/58 | €1,285,460 | €1,309,305 | +€23,845 | +1.9% |
| Amounts receivable within one year | 40/41 | €877,591 | €936,260 | +€58,669 | +6.7% |
| Trade receivables | 40 | €387,363 | €290,022 | -€97,341 | -25.1% |
| Other amounts receivable | 41 | €490,228 | €646,238 | +€156,010 | +31.8% |
| Cash at bank and in hand | 54/58 | €357,442 | €373,046 | +€15,604 | +4.4% |
| Deferred charges and accrued income | 490/1 | €50,428 | €0 | -€50,428 | -100.0% |
| Total equity and liabilities | 10/49 | €14,649,771 | €14,300,261 | -€349,510 | -2.4% |
| Equity | 10/15 | €7,050,613 | €7,795,576 | +€744,963 | +10.6% |
| Contributions | 10/11 | €185,947 | €185,947 | = | 0.0% |
| Capital | 10 | €185,947 | €185,947 | = | 0.0% |
| Issued capital | 100 | €185,947 | €185,947 | = | 0.0% |
| Reserves | 13 | €6,864,666 | €7,609,629 | +€744,963 | +10.9% |
| Non-distributable reserves | 130/1 | €68,797 | €68,797 | = | 0.0% |
| Legal reserve | 130 | €66,064 | €66,064 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,734 | €2,734 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,022,692 | €1,788,089 | -€234,603 | -11.6% |
| Distributable reserves | 133 | €4,773,177 | €5,752,743 | +€979,566 | +20.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,234,315 | €858,769 | -€375,545 | -30.4% |
| Provisions for liabilities and charges | 160/5 | €385,000 | €108,000 | -€277,000 | -71.9% |
| Major repairs and maintenance | 162 | €385,000 | €108,000 | -€277,000 | -71.9% |
| Deferred taxes | 168 | €849,315 | €750,769 | -€98,545 | -11.6% |
| Amounts payable | 17/49 | €6,364,844 | €5,645,916 | -€718,928 | -11.3% |
| Amounts payable after more than one year | 17 | €4,958,276 | €4,411,976 | -€546,300 | -11.0% |
| Financial debts | 170/4 | €4,958,276 | €4,411,976 | -€546,300 | -11.0% |
| Amounts payable within one year | 42/48 | €1,406,568 | €1,233,940 | -€172,628 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €591,338 | €585,656 | -€5,683 | -1.0% |
| Financial debts | 43 | €167,748 | €101,075 | -€66,673 | -39.7% |
| Credit institutions | 430/8 | €167,748 | €101,075 | -€66,673 | -39.7% |
| Trade debts | 44 | €119,017 | €124,892 | +€5,875 | +4.9% |
| Suppliers | 440/4 | €119,017 | €124,892 | +€5,875 | +4.9% |
| Taxes, remuneration and social security | 45 | €160,973 | €57,926 | -€103,047 | -64.0% |
| Taxes | 450/3 | €160,973 | €57,926 | -€103,047 | -64.0% |
| Other amounts payable | 47/48 | €367,491 | €364,391 | -€3,100 | -0.8% |
| Non-recurring operating income | 76A | €147,814 | €51,408 | -€96,406 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €529,060 | €534,441 | +€5,381 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €130,403 | +€130,403 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€55,000 | -€277,000 | -€222,000 | -403.6% |
| Other operating charges | 640/8 | €275,362 | €268,106 | -€7,256 | -2.6% |
| Non-recurring operating charges | 66A | €2,232 | €2,088 | -€144 | -6.5% |
| Gross operating margin | 9900 | €2,319,555 | €2,201,126 | -€118,429 | -5.1% |
| Operating profit (loss) | 9901 | €1,567,901 | €1,543,089 | -€24,812 | -1.6% |
| Financial income | 75/76B | €24 | €21,503 | +€21,479 | +91206.6% |
| Recurring financial income | 75 | €24 | €21,503 | +€21,479 | +91206.6% |
| Financial charges | 65/66B | €132,652 | €114,492 | -€18,160 | -13.7% |
| Recurring financial charges | 65 | €132,652 | €114,492 | -€18,160 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €1,435,273 | €1,450,100 | +€14,827 | +1.0% |
| Transfer from deferred taxes | 780 | €98,545 | €98,545 | = | 0.0% |
| Income taxes | 67/77 | €468,441 | €433,683 | -€34,758 | -7.4% |
| Profit (loss) for the period | 9904 | €1,065,377 | €1,114,963 | +€49,586 | +4.7% |
| Transfer from tax-exempt reserves | 789 | €234,603 | €234,603 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,299,981 | €1,349,566 | +€49,586 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.