MAY TREE REAL ESTATE: what changed
MAY TREE REAL ESTATE
Largest movements
- Tangible fixed assets -€30,799
down €30,799 (-4.1%), from €759,999 to €729,200
of which Land and buildings: -€30,864
- Cash +€30,565
up €30,565 (+76.3%), from €40,069 to €70,634
mainly Depreciation (+€32,172) and Deferred charges and accrued income (+€13,802)
- Deferred charges and accrued income -€13,802
down €13,802 (-100%), from €13,802 to €0
- Profit (loss) carried forward -€22,037
down €22,037 (-19.8%), from -€111,421 to -€133,459
- Other debts +€8,354
up €8,354 (+69.7%), from €11,982 to €20,336
- Gross operating margin +€1,347
up €1,347 (+8.5%), from €15,825 to €17,172
- Depreciation +€418
up €418 (+1.3%), from €31,754 to €32,172
- Other operating charges -€236
down €236 (-3.6%), from €6,527 to €6,291
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,120 | €800,083 | -€14,036 | -1.7% |
| Fixed assets | 21/28 | €760,249 | €729,450 | -€30,799 | -4.1% |
| Tangible fixed assets | 22/27 | €759,999 | €729,200 | -€30,799 | -4.1% |
| Land and buildings | 22 | €748,702 | €717,838 | -€30,864 | -4.1% |
| Plant, machinery and equipment | 23 | €6,500 | €6,500 | = | 0.0% |
| Furniture and vehicles | 24 | €4,797 | €3,597 | -€1,200 | -25.0% |
| Other tangible fixed assets | 26 | - | €1,265 | +€1,265 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €53,871 | €70,634 | +€16,762 | +31.1% |
| Cash at bank and in hand | 54/58 | €40,069 | €70,634 | +€30,565 | +76.3% |
| Deferred charges and accrued income | 490/1 | €13,802 | €0 | -€13,802 | -100% |
| Total equity and liabilities | 10/49 | €814,120 | €800,083 | -€14,036 | -1.7% |
| Equity | 10/15 | €798,579 | €776,541 | -€22,037 | -2.8% |
| Contributions | 10/11 | €910,000 | €910,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,421 | -€133,459 | -€22,037 | -19.8% |
| Amounts payable | 17/49 | €15,541 | €23,542 | +€8,001 | +51.5% |
| Amounts payable within one year | 42/48 | €13,081 | €23,142 | +€10,061 | +76.9% |
| Trade debts | 44 | €682 | €2,383 | +€1,701 | +249% |
| Suppliers | 440/4 | €682 | €2,383 | +€1,701 | +249% |
| Taxes, remuneration and social security | 45 | €417 | €423 | +€6 | +1.5% |
| Taxes | 450/3 | €417 | €423 | +€6 | +1.5% |
| Other amounts payable | 47/48 | €11,982 | €20,336 | +€8,354 | +69.7% |
| Accrued charges and deferred income | 492/3 | €2,460 | €400 | -€2,060 | -83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,754 | €32,172 | +€418 | +1.3% |
| Other operating charges | 640/8 | €6,527 | €6,291 | -€236 | -3.6% |
| Gross operating margin | 9900 | €15,825 | €17,172 | +€1,347 | +8.5% |
| Operating profit (loss) | 9901 | -€22,456 | -€21,292 | +€1,165 | +5.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €313 | €340 | +€26 | +8.4% |
| Recurring financial charges | 65 | €313 | €340 | +€26 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,770 | -€21,631 | +€1,139 | +5.0% |
| Income taxes | 67/77 | €417 | €406 | -€11 | -2.6% |
| Profit (loss) for the period | 9904 | -€23,187 | -€22,037 | +€1,150 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,187 | -€22,037 | +€1,150 | +5.0% |
Next steps
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 3 November 2026 via checked.be.