MEUSE CONDROZ LOGEMENT: 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
MEUSE CONDROZ LOGEMENT
NACE 68.202, Real estate activities
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€1.4m
2023 · €845,707+€588,079
Equity
€74.0m
2023 · €60.1m+€13.8m
Cash
€10.8m
2023 · €14.2m-€3.4m
Balance sheet total
€139.7m
2023 · €125.9m+€13.8m
Largest movements
Assets
- Tangible fixed assets +€19.0m
up €19.0m (+21.1%), from €90.3m to €109.3m
of which Assets under construction and advance payments: +€16.1m
- Cash -€3.4m
down €3.4m (-24.0%), from €14.2m to €10.8m
mainly Investment in fixed assets (net) (-€21.8m) and Debts after one year (-€1.3m)
- Receivables after one year -€1.7m
down €1.7m (-9.2%), from €18.6m to €16.9m
of which Other amounts receivable: -€10.4m
Equity and liabilities
- Investment grants +€12.4m
up €12.4m (+23.0%), from €54.0m to €66.4m
Income statement
- Gross operating margin -€7.1m
no longer reported in 2024 (was €7.1m)
- Services and other goods +€3.1m
new in 2024: €3.1m
- Turnover +€745,281
up €745,281 (+7.8%), from €9.5m to €10.2m
- Provisions -€501,354
down €501,354, from €248,000 to -€253,354
- Other operating income +€417,551
new in 2024: €417,551
From the 2023 result to the 2024 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 2023
€845,707
Turnover
+€745,281
Other operating income
+€417,551
Goods and materials
-€298,111
Services and other goods
-€3.1m
Staff costs
+€131,417
Depreciation
-€139,092
Write-downs
-€31,013
Provisions
+€501,354
Other operating charges
-€105,979
Other operating items
+€2.6m
Financial income
-€230,933
Financial charges
+€100,522
Taxes
-€26,274
Deferred taxes and other
+€9,717
Result 2024
€1.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€7.5m
Investment
-€21.8m
Financing
+€11.0m
Cash 2023
€14.2m
From operations (derived)
+€7.5m
Net result for the year
+€1.4m
Depreciation
+€2.8m
Receivables after one year
+€1.7m
Smaller working-capital items
-€40,985
Receivables within one year
+€121,843
Provisions
+€417,040
Trade debts
+€1.1m
Investment (derived)
-€21.8m
Investment in fixed assets (net)
-€21.8m
Financing
+€11.0m
Debts after one year
-€1.3m
Current portion of long-term debt
+€120,931
Short-term financial debts
-€252,446
Contributions, distributions and other
+€12.4m
Cash 2024
€10.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,864,863 | €139,705,541 | +€13.8m | +11.0% |
| Fixed assets | 21/28 | €90,268,333 | €109,336,537 | +€19.1m | +21.1% |
| Intangible fixed assets | 21 | - | €30,969 | +€30,969 | |
| Tangible fixed assets | 22/27 | €90,262,298 | €109,299,533 | +€19.0m | +21.1% |
| Land and buildings | 22 | €85,967,227 | €88,907,903 | +€2.9m | +3.4% |
| Plant, machinery and equipment | 23 | €13,349 | €9,867 | -€3,482 | -26.1% |
| Furniture and vehicles | 24 | €164,199 | €134,386 | -€29,813 | -18.2% |
| Assets under construction and advance payments | 27 | €4,117,523 | €20,247,376 | +€16.1m | +392% |
| Financial fixed assets | 28 | €6,035 | €6,035 | -€0 | 0.0% |
| Other financial fixed assets | 284/8 | - | €6,035 | +€6,035 | |
| Shares | 284 | - | €3,535 | +€3,535 | |
| Amounts receivable and cash guarantees | 285/8 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €35,596,530 | €30,369,004 | -€5.2m | -14.7% |
| Amounts receivable after more than one year | 29 | €18,559,863 | €16,858,514 | -€1.7m | -9.2% |
| Trade receivables | 290 | - | €8,669,351 | +€8.7m | |
| Other amounts receivable | 291 | €18,559,863 | €8,189,163 | -€10.4m | -55.9% |
| Stocks and contracts in progress | 3 | €335,999 | €352,694 | +€16,695 | +5.0% |
| Stocks | 30/36 | €335,999 | €352,694 | +€16,695 | +5.0% |
| Raw materials and consumables | 30/31 | - | €352,694 | +€352,694 | |
| Amounts receivable within one year | 40/41 | €2,321,735 | €2,199,892 | -€121,843 | -5.2% |
| Trade receivables | 40 | €404,369 | €290,067 | -€114,302 | -28.3% |
| Other amounts receivable | 41 | €1,917,366 | €1,909,825 | -€7,541 | -0.4% |
| Cash at bank and in hand | 54/58 | €14,208,214 | €10,794,786 | -€3.4m | -24.0% |
| Deferred charges and accrued income | 490/1 | €170,719 | €163,118 | -€7,601 | -4.5% |
| Total equity and liabilities | 10/49 | €125,864,863 | €139,705,541 | +€13.8m | +11.0% |
| Equity | 10/15 | €60,135,165 | €73,980,258 | +€13.8m | +23.0% |
| Contributions | 10/11 | €17,896 | €17,896 | +€0 | 0.0% |
| Reserves | 13 | €6,013,559 | €6,371,437 | +€357,878 | +6.0% |
| Non-distributable reserves | 130/1 | €3,427 | €3,427 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €3,427 | €3,427 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €6,010,132 | €6,368,010 | +€357,878 | +6.0% |
| Profit (loss) carried forward | 14 | €100,376 | €1,176,283 | +€1.1m | +1,072% |
| Investment grants | 15 | €54,003,334 | €66,414,641 | +€12.4m | +23.0% |
| Provisions and deferred taxes | 16 | €3,643,460 | €4,060,500 | +€417,040 | +11.4% |
| Provisions for liabilities and charges | 160/5 | €477,612 | €224,258 | -€253,354 | -53.0% |
| Major repairs and maintenance | 162 | €477,612 | €224,258 | -€253,354 | -53.0% |
| Deferred taxes | 168 | €3,165,848 | €3,836,241 | +€670,393 | +21.2% |
| Amounts payable | 17/49 | €62,086,238 | €61,664,783 | -€421,455 | -0.7% |
| Amounts payable after more than one year | 17 | €49,884,181 | €48,569,817 | -€1.3m | -2.6% |
| Financial debts | 170/4 | €49,884,181 | €48,569,817 | -€1.3m | -2.6% |
| Credit institutions | 173 | - | €48,569,817 | +€48.6m | |
| Amounts payable within one year | 42/48 | €11,976,392 | €12,875,089 | +€898,697 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €4,105,427 | €4,226,358 | +€120,931 | +2.9% |
| Financial debts | 43 | €7,044,032 | €6,791,586 | -€252,446 | -3.6% |
| Credit institutions | 430/8 | €7,044,032 | €6,791,586 | -€252,446 | -3.6% |
| Trade debts | 44 | €272,651 | €1,328,966 | +€1.1m | +387% |
| Suppliers | 440/4 | €272,651 | €1,328,966 | +€1.1m | +387% |
| Taxes, remuneration and social security | 45 | €361,398 | €335,914 | -€25,484 | -7.1% |
| Taxes | 450/3 | €118,036 | €84,294 | -€33,742 | -28.6% |
| Remuneration and social security | 454/9 | €243,362 | €251,620 | +€8,258 | +3.4% |
| Other amounts payable | 47/48 | €192,884 | €192,264 | -€620 | -0.3% |
| Accrued charges and deferred income | 492/3 | €225,665 | €219,878 | -€5,787 | -2.6% |
| Operating income | 70/76A | - | €10,828,593 | +€10.8m | |
| Turnover | 70 | €9,504,211 | €10,249,491 | +€745,281 | +7.8% |
| Own construction capitalised | 72 | - | €102,268 | +€102,268 | |
| Other operating income | 74 | - | €417,551 | +€417,551 | |
| Non-recurring operating income | 76A | €162,008 | €59,283 | -€102,725 | -63.4% |
| Operating charges | 60/66A | - | €9,665,977 | +€9.7m | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,152,593 | - | -€3.2m | |
| Goods for resale, raw materials and consumables | 60 | - | €298,111 | +€298,111 | |
| Purchases | 600/8 | - | €314,806 | +€314,806 | |
| Change in stocks: decrease (increase) | 609 | - | -€16,696 | -€16,696 | |
| Services and other goods | 61 | - | €3,074,826 | +€3.1m | |
| Remuneration, social security and pensions | 62 | €2,679,478 | €2,548,061 | -€131,417 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,633,760 | €2,772,852 | +€139,092 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,765 | €42,778 | +€31,013 | +264% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €248,000 | -€253,354 | -€501,354 | |
| Other operating charges | 640/8 | €1,036,633 | €1,142,612 | +€105,979 | +10.2% |
| Non-recurring operating charges | 66A | €75,343 | €40,092 | -€35,251 | -46.8% |
| Gross operating margin | 9900 | €7,112,548 | - | -€7.1m | |
| Operating profit (loss) | 9901 | €427,569 | €1,162,616 | +€735,047 | +172% |
| Financial income | 75/76B | €2,103,212 | €1,872,279 | -€230,933 | -11.0% |
| Recurring financial income | 75 | €1,419,725 | €1,360,284 | -€59,441 | -4.2% |
| Income from current assets | 751 | - | €7,923 | +€7,923 | |
| Other financial income | 752/9 | - | €1,352,361 | +€1.4m | |
| Non-recurring financial income | 76B | €683,487 | €511,995 | -€171,492 | -25.1% |
| Financial charges | 65/66B | €1,692,063 | €1,591,541 | -€100,522 | -5.9% |
| Recurring financial charges | 65 | €1,692,063 | €1,591,541 | -€100,522 | -5.9% |
| Debt charges | 650 | - | €1,587,806 | +€1.6m | |
| Other financial charges | 652/9 | - | €3,735 | +€3,735 | |
| Profit (loss) for the period before taxes | 9903 | €838,718 | €1,443,353 | +€604,635 | +72.1% |
| Transfer from deferred taxes | 780 | €56,619 | €57,762 | +€1,143 | +2.0% |
| Transfer to deferred taxes | 680 | €34,174 | €25,600 | -€8,574 | -25.1% |
| Income taxes | 67/77 | €15,456 | €41,730 | +€26,274 | +170% |
| Taxes | 670/3 | - | €41,730 | +€41,730 | |
| Profit (loss) for the period | 9904 | €845,707 | €1,433,786 | +€588,079 | +69.5% |
| Transfer from tax-exempt reserves | 789 | €118,789 | €128,517 | +€9,728 | +8.2% |
| Transfer to tax-exempt reserves | 689 | €649,313 | €486,396 | -€162,918 | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €315,183 | €1,075,907 | +€760,724 | +241% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.