MARKT 1: 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
MARKT 1
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
€8,682
2024 · €48,558-€39,876
Equity
€5.5m
2024 · €5.5m+€2,584
Cash
€303,426
2024 · €244,508+€58,918
Balance sheet total
€7.5m
2024 · €7.7m-€192,168
Largest movements
Assets
- Current investments -€300,000
down €300,000 (-100%), from €300,000 to €0
Equity and liabilities
- Debts after one year -€173,474
down €173,474 (-9.0%), from €1.9m to €1.8m
Income statement
- Gross operating margin -€60,073
down €60,073 (-14.4%), from €416,454 to €356,381
- Taxes -€15,098
down €15,098 (-70.7%), from €21,366 to €6,268
- Financial income +€8,588
up €8,588 (+349%), from €2,458 to €11,047
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
€48,558
Gross operating margin
-€60,073
Depreciation
-€3,614
Other operating charges
-€1,824
Financial income
+€8,588
Financial charges
+€1,949
Taxes
+€15,098
Result 2025
€8,682
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
+€268,160
Investment
-€31,439
Financing
-€177,802
Cash 2024
€244,508
From operations (derived)
+€268,160
Net result for the year
+€8,682
Depreciation
+€287,325
Receivables within one year
-€3,449
Deferred charges and accrued income
-€1,350
Trade debts
-€20,652
Tax, wage and social debts
+€21,734
Other debts
+€5,340
Accrued charges and deferred income
-€29,471
Investment (derived)
-€31,439
Investment in fixed assets (net)
-€331,439
Current investments
+€300,000
Financing
-€177,802
Debts after one year
-€173,474
Current portion of long-term debt
+€1,770
Contributions, distributions and other
-€6,098
Cash 2025
€303,426
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,700,388 | €7,508,220 | -€192,168 | -2.5% |
| Fixed assets | 21/28 | €6,599,514 | €6,643,628 | +€44,114 | +0.7% |
| Tangible fixed assets | 22/27 | €6,599,514 | €6,643,628 | +€44,114 | +0.7% |
| Land and buildings | 22 | €6,565,677 | €6,621,289 | +€55,612 | +0.8% |
| Plant, machinery and equipment | 23 | €2,794 | €1,477 | -€1,318 | -47.2% |
| Furniture and vehicles | 24 | €31,042 | €20,862 | -€10,180 | -32.8% |
| Current assets | 29/58 | €1,100,875 | €864,592 | -€236,282 | -21.5% |
| Amounts receivable within one year | 40/41 | €209,589 | €213,038 | +€3,449 | +1.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €209,589 | €213,038 | +€3,449 | +1.6% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100% |
| Cash at bank and in hand | 54/58 | €244,508 | €303,426 | +€58,918 | +24.1% |
| Deferred charges and accrued income | 490/1 | €346,778 | €348,128 | +€1,350 | +0.4% |
| Total equity and liabilities | 10/49 | €7,700,388 | €7,508,220 | -€192,168 | -2.5% |
| Equity | 10/15 | €5,534,991 | €5,537,575 | +€2,584 | 0.0% |
| Contributions | 10/11 | €5,345,000 | €5,345,000 | = | 0.0% |
| Reserves | 13 | €189,991 | €192,575 | +€2,584 | +1.4% |
| Distributable reserves | 133 | €189,991 | €192,575 | +€2,584 | +1.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,165,397 | €1,970,645 | -€194,752 | -9.0% |
| Amounts payable after more than one year | 17 | €1,931,208 | €1,757,735 | -€173,474 | -9.0% |
| Financial debts | 170/4 | €1,931,208 | €1,757,735 | -€173,474 | -9.0% |
| Amounts payable within one year | 42/48 | €204,718 | €212,910 | +€8,192 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €171,704 | €173,474 | +€1,770 | +1.0% |
| Trade debts | 44 | €24,292 | €3,640 | -€20,652 | -85.0% |
| Suppliers | 440/4 | €24,292 | €3,640 | -€20,652 | -85.0% |
| Taxes, remuneration and social security | 45 | €7,964 | €29,698 | +€21,734 | +273% |
| Taxes | 450/3 | €7,964 | €29,698 | +€21,734 | +273% |
| Other amounts payable | 47/48 | €758 | €6,098 | +€5,340 | +704% |
| Accrued charges and deferred income | 492/3 | €29,471 | €0 | -€29,471 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,711 | €287,325 | +€3,614 | +1.3% |
| Other operating charges | 640/8 | €42,494 | €44,318 | +€1,824 | +4.3% |
| Gross operating margin | 9900 | €416,454 | €356,381 | -€60,073 | -14.4% |
| Operating profit (loss) | 9901 | €90,249 | €24,737 | -€65,512 | -72.6% |
| Financial income | 75/76B | €2,458 | €11,047 | +€8,588 | +349% |
| Recurring financial income | 75 | €2,458 | €11,047 | +€8,588 | +349% |
| Financial charges | 65/66B | €22,783 | €20,834 | -€1,949 | -8.6% |
| Recurring financial charges | 65 | €22,783 | €20,834 | -€1,949 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €69,924 | €14,950 | -€54,974 | -78.6% |
| Income taxes | 67/77 | €21,366 | €6,268 | -€15,098 | -70.7% |
| Profit (loss) for the period | 9904 | €48,558 | €8,682 | -€39,876 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,558 | €8,682 | -€39,876 | -82.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.