MOLINOR: 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
MOLINOR
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
-€209,151
2024 · -€137,568-€71,583
Equity
€8.0m
2024 · €8.2m-€209,151
Cash
€14,476
2024 · €41,163-€26,687
Balance sheet total
€8.5m
2024 · €8.7m-€213,395
Largest movements
Assets
- Tangible fixed assets -€315,962
down €315,962 (-4.7%), from €6.7m to €6.4m
of which Land and buildings: -€315,720
- Current investments +€131,396
up €131,396 (+6.9%), from €1.9m to €2.0m
Equity and liabilities
- Revaluation surpluses -€227,958
down €227,958 (-9.1%), from €2.5m to €2.3m
Income statement
- Gross operating margin -€72,716
down €72,716 (-33.0%), from €220,202 to €147,486
- Financial income -€13,062
down €13,062 (-23.1%), from €56,449 to €43,387
- Depreciation -€8,892
down €8,892 (-2.5%), from €353,024 to €344,131
- Financial charges -€3,956
down €3,956 (-12.2%), from €32,483 to €28,527
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
-€137,568
Gross operating margin
-€72,716
Depreciation
+€8,892
Other operating charges
+€1,377
Financial income
-€13,062
Financial charges
+€3,956
Taxes
-€31
Result 2025
-€209,151
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
+€132,878
Investment
-€159,565
Financing
€0
Cash 2024
€41,163
From operations (derived)
+€132,878
Net result for the year
-€209,151
Depreciation
+€344,131
Receivables within one year
+€2,379
Deferred charges and accrued income
-€237
Provisions
-€4,440
Trade debts
-€2,098
Tax, wage and social debts
+€956
Advances received
+€5,490
Other debts
-€4,150
Investment (derived)
-€159,565
Investment in fixed assets (net)
-€28,170
Current investments
-€131,396
Cash 2025
€14,476
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,712,677 | €8,499,282 | -€213,395 | -2.4% |
| Fixed assets | 21/28 | €6,713,587 | €6,397,625 | -€315,962 | -4.7% |
| Tangible fixed assets | 22/27 | €6,713,587 | €6,397,625 | -€315,962 | -4.7% |
| Land and buildings | 22 | €6,713,091 | €6,397,371 | -€315,720 | -4.7% |
| Plant, machinery and equipment | 23 | €496 | €254 | -€242 | -48.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,999,090 | €2,101,657 | +€102,567 | +5.1% |
| Amounts receivable within one year | 40/41 | €57,339 | €54,960 | -€2,379 | -4.1% |
| Trade receivables | 40 | €3,100 | €26,619 | +€23,519 | +758.8% |
| Other amounts receivable | 41 | €54,239 | €28,341 | -€25,898 | -47.7% |
| Current investments | 50/53 | €1,900,000 | €2,031,396 | +€131,396 | +6.9% |
| Cash at bank and in hand | 54/58 | €41,163 | €14,476 | -€26,687 | -64.8% |
| Deferred charges and accrued income | 490/1 | €588 | €825 | +€237 | +40.2% |
| Total equity and liabilities | 10/49 | €8,712,677 | €8,499,282 | -€213,395 | -2.4% |
| Equity | 10/15 | €8,191,655 | €7,982,504 | -€209,151 | -2.6% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Capital | 10 | €4,000,000 | €4,000,000 | = | 0.0% |
| Issued capital | 100 | €4,000,000 | €4,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,507,542 | €2,279,583 | -€227,958 | -9.1% |
| Reserves | 13 | €1,684,113 | €1,702,920 | +€18,807 | +1.1% |
| Non-distributable reserves | 130/1 | €175,160 | €175,160 | = | 0.0% |
| Legal reserve | 130 | €175,160 | €175,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €207,353 | €194,031 | -€13,321 | -6.4% |
| Distributable reserves | 133 | €1,301,600 | €1,333,729 | +€32,129 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €60,919 | €56,478 | -€4,440 | -7.3% |
| Deferred taxes | 168 | €60,919 | €56,478 | -€4,440 | -7.3% |
| Amounts payable | 17/49 | €460,103 | €460,300 | +€197 | 0.0% |
| Amounts payable within one year | 42/48 | €460,103 | €460,300 | +€197 | 0.0% |
| Trade debts | 44 | €5,592 | €3,494 | -€2,098 | -37.5% |
| Suppliers | 440/4 | €5,592 | €3,494 | -€2,098 | -37.5% |
| Advances received on contracts in progress | 46 | - | €5,490 | +€5,490 | |
| Taxes, remuneration and social security | 45 | €87 | €1,043 | +€956 | +1097.9% |
| Taxes | 450/3 | €87 | €1,043 | +€956 | +1097.9% |
| Other amounts payable | 47/48 | €454,425 | €450,275 | -€4,150 | -0.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €7,222 | +€7,222 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353,024 | €344,131 | -€8,892 | -2.5% |
| Other operating charges | 640/8 | €32,366 | €30,989 | -€1,377 | -4.3% |
| Gross operating margin | 9900 | €220,202 | €147,486 | -€72,716 | -33.0% |
| Operating profit (loss) | 9901 | -€165,187 | -€227,634 | -€62,446 | -37.8% |
| Financial income | 75/76B | €56,449 | €43,387 | -€13,062 | -23.1% |
| Recurring financial income | 75 | €56,449 | €43,387 | -€13,062 | -23.1% |
| Financial charges | 65/66B | €32,483 | €28,527 | -€3,956 | -12.2% |
| Recurring financial charges | 65 | €32,483 | €28,527 | -€3,956 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€141,222 | -€212,774 | -€71,552 | -50.7% |
| Transfer from deferred taxes | 780 | €4,440 | €4,440 | = | 0.0% |
| Income taxes | 67/77 | €787 | €818 | +€31 | +3.9% |
| Profit (loss) for the period | 9904 | -€137,568 | -€209,151 | -€71,583 | -52.0% |
| Transfer from tax-exempt reserves | 789 | €13,321 | €13,321 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,247 | -€195,830 | -€71,583 | -57.6% |
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 4 October 2026 via checked.be.