MAATSCHAPPELIJK BEHEER: what changed
What changed
MAATSCHAPPELIJK BEHEER
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
-€906,542
2024 · €163,547-€1.1m
Equity
€10.0m
2024 · €1.1m+€8.9m
Cash
€33,388
2024 · €37,733-€4,345
Balance sheet total
€26.0m
2024 · €14.0m+€12.0m
Largest movements
Assets
- Tangible fixed assets +€12.0m
up €12.0m (+102%), from €11.8m to €23.8m
of which Land and buildings: +€12.0m
Equity and liabilities
- Revaluation surpluses +€9.8m
new in 2025: €9.8m
- Debts after one year +€1.9m
up €1.9m (+16.5%), from €11.4m to €13.3m
of which Financial debts: +€1.9m
- Profit (loss) carried forward -€869,377
down €869,377 (-152%), from -€570,724 to -€1.4m
- Other debts +€678,881
up €678,881 (+103%), from €658,662 to €1.3m
- Current portion of long-term debt +€519,514
up €519,514 (+180%), from €289,374 to €808,888
Income statement
- Gross operating margin -€720,599
down €720,599 (-36.4%), from €2.0m to €1.3m
- Depreciation +€469,821
up €469,821 (+42.9%), from €1.1m to €1.6m
- Other operating charges +€63,304
up €63,304 (+61.0%), from €103,846 to €167,150
- Financial charges +€60,173
up €60,173 (+16.1%), from €373,942 to €434,115
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
€163,547
Gross operating margin
-€720,599
Depreciation
-€469,821
Other operating charges
-€63,304
Financial income
-€359
Financial charges
-€60,173
Taxes
-€590
Deferred taxes and other
+€244,757
Result 2025
-€906,542
lowers the resultnot broken down further in the accounts
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
+€1.4m
Investment
-€13.6m
Financing
+€12.2m
Cash 2024
€37,733
From operations (derived)
+€1.4m
Net result for the year
-€906,542
Depreciation
+€1.6m
Receivables within one year
+€45,751
Smaller working-capital items
+€3,324
Other debts
+€678,881
Investment (derived)
-€13.6m
Investment in fixed assets (net)
-€13.6m
Financing
+€12.2m
Debts after one year
+€1.9m
Current portion of long-term debt
+€519,514
Contributions, distributions and other
+€9.8m
Cash 2025
€33,388
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,016,561 | €25,967,443 | +€12.0m | +85.3% |
| Fixed assets | 21/28 | €13,744,413 | €25,745,391 | +€12.0m | +87.3% |
| Tangible fixed assets | 22/27 | €11,782,213 | €23,783,191 | +€12.0m | +102% |
| Land and buildings | 22 | €11,782,213 | €23,780,326 | +€12.0m | +102% |
| Plant, machinery and equipment | 23 | - | €2,865 | +€2,865 | |
| Financial fixed assets | 28 | €1,962,200 | €1,962,200 | = | 0.0% |
| Current assets | 29/58 | €272,148 | €222,052 | -€50,096 | -18.4% |
| Amounts receivable within one year | 40/41 | €234,415 | €188,664 | -€45,751 | -19.5% |
| Trade receivables | 40 | €21,980 | €9,929 | -€12,051 | -54.8% |
| Other amounts receivable | 41 | €212,435 | €178,735 | -€33,700 | -15.9% |
| Cash at bank and in hand | 54/58 | €37,733 | €33,388 | -€4,345 | -11.5% |
| Total equity and liabilities | 10/49 | €14,016,561 | €25,967,443 | +€12.0m | +85.3% |
| Equity | 10/15 | €1,089,627 | €9,961,182 | +€8.9m | +814% |
| Contributions | 10/11 | €725,850 | €725,850 | = | 0.0% |
| Revaluation surpluses | 12 | - | €9,778,097 | +€9.8m | |
| Reserves | 13 | €934,501 | €897,336 | -€37,165 | -4.0% |
| Tax-exempt reserves | 132 | €734,271 | €697,106 | -€37,165 | -5.1% |
| Distributable reserves | 133 | €200,230 | €200,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€570,724 | -€1,440,101 | -€869,377 | -152% |
| Provisions and deferred taxes | 16 | €244,757 | €232,369 | -€12,388 | -5.1% |
| Deferred taxes | 168 | €244,757 | €232,369 | -€12,388 | -5.1% |
| Amounts payable | 17/49 | €12,682,177 | €15,773,892 | +€3.1m | +24.4% |
| Amounts payable after more than one year | 17 | €11,410,169 | €13,287,777 | +€1.9m | +16.5% |
| Financial debts | 170/4 | €11,292,454 | €13,142,899 | +€1.9m | +16.4% |
| Other amounts payable | 178/9 | €117,715 | €144,878 | +€27,163 | +23.1% |
| Amounts payable within one year | 42/48 | €1,232,831 | €2,437,372 | +€1.2m | +97.7% |
| Current portion of amounts payable after more than one year | 42 | €289,374 | €808,888 | +€519,514 | +180% |
| Financial debts | 43 | €280,000 | €280,000 | = | 0.0% |
| Credit institutions | 430/8 | €280,000 | €280,000 | = | 0.0% |
| Trade debts | 44 | €211 | €7,432 | +€7,221 | +3,422% |
| Suppliers | 440/4 | €211 | €7,432 | +€7,221 | +3,422% |
| Taxes, remuneration and social security | 45 | €4,584 | €3,509 | -€1,075 | -23.5% |
| Taxes | 450/3 | €4,584 | €3,509 | -€1,075 | -23.5% |
| Other amounts payable | 47/48 | €658,662 | €1,337,543 | +€678,881 | +103% |
| Accrued charges and deferred income | 492/3 | €39,177 | €48,743 | +€9,566 | +24.4% |
| Non-recurring operating income | 76A | €991,425 | €14,055 | -€977,370 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,094,214 | €1,564,035 | +€469,821 | +42.9% |
| Other operating charges | 640/8 | €103,846 | €167,150 | +€63,304 | +61.0% |
| Gross operating margin | 9900 | €1,979,947 | €1,259,348 | -€720,599 | -36.4% |
| Operating profit (loss) | 9901 | €781,887 | -€471,837 | -€1.3m | |
| Financial income | 75/76B | €359 | - | -€359 | |
| Recurring financial income | 75 | €359 | - | -€359 | |
| Financial charges | 65/66B | €373,942 | €434,115 | +€60,173 | +16.1% |
| Recurring financial charges | 65 | €373,942 | €434,115 | +€60,173 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €408,304 | -€905,952 | -€1.3m | |
| Transfer from deferred taxes | 780 | €3,013 | - | -€3,013 | |
| Transfer to deferred taxes | 680 | €247,770 | - | -€247,770 | |
| Income taxes | 67/77 | - | €590 | +€590 | |
| Profit (loss) for the period | 9904 | €163,547 | -€906,542 | -€1.1m | |
| Transfer from tax-exempt reserves | 789 | €9,038 | €37,165 | +€28,127 | +311% |
| Transfer to tax-exempt reserves | 689 | €743,309 | - | -€743,309 | |
| Profit (loss) for the period to be appropriated | 9905 | -€570,724 | -€869,377 | -€298,653 | -52.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.