Nest Properties: 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
Nest Properties
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
€245,368
2024 · -€73,856+€319,224
Equity
€10.0m
2024 · €10.1m-€54,632
Cash
€519,188
2024 · €614,313-€95,125
Balance sheet total
€11.4m
2024 · €11.4m-€3,618
Largest movements
Assets
- Current investments +€357,525
up €357,525 (+5.6%), from €6.3m to €6.7m
- Tangible fixed assets -€262,226
down €262,226 (-5.9%), from €4.5m to €4.2m
of which Land and buildings: -€312,109
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income +€379,088
up €379,088 (+405.7%), from €93,450 to €472,538
- Depreciation +€39,172
up €39,172 (+11.5%), from €339,433 to €378,605
- Taxes +€20,908
up €20,908 (+513.8%), from €4,069 to €24,977
- Gross operating margin +€13,952
up €13,952 (+4.0%), from €347,859 to €361,811
- Financial charges +€11,086
up €11,086 (+19.9%), from €55,812 to €66,898
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
-€73,856
Gross operating margin
+€13,952
Staff costs
-€3,430
Depreciation
-€39,172
Other operating charges
+€531
Other operating items
+€250
Financial income
+€379,088
Financial charges
-€11,086
Taxes
-€20,908
Result 2025
€245,368
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
+€678,066
Investment
-€473,357
Financing
-€299,834
Cash 2024
€614,313
From operations (derived)
+€678,066
Net result for the year
+€245,368
Depreciation
+€378,605
Receivables within one year
+€3,000
Deferred charges and accrued income
+€245
Provisions
-€2,559
Trade debts
+€1,392
Tax, wage and social debts
+€14,467
Other debts
+€91,568
Accrued charges and deferred income
-€54,020
Investment (derived)
-€473,357
Investment in fixed assets (net)
-€115,832
Current investments
-€357,525
Financing
-€299,834
Debts after one year
+€167
Contributions, distributions and other
-€300,000
Cash 2025
€519,188
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,426,662 | €11,423,045 | -€3,618 | 0.0% |
| Fixed assets | 21/28 | €4,456,507 | €4,193,734 | -€262,773 | -5.9% |
| Tangible fixed assets | 22/27 | €4,455,960 | €4,193,734 | -€262,226 | -5.9% |
| Land and buildings | 22 | €4,297,955 | €3,985,846 | -€312,109 | -7.3% |
| Plant, machinery and equipment | 23 | €22,882 | €19,897 | -€2,985 | -13.0% |
| Furniture and vehicles | 24 | €135,124 | €187,991 | +€52,867 | +39.1% |
| Financial fixed assets | 28 | €547 | - | -€547 | |
| Current assets | 29/58 | €6,970,156 | €7,229,311 | +€259,155 | +3.7% |
| Amounts receivable within one year | 40/41 | €9,600 | €6,600 | -€3,000 | -31.3% |
| Other amounts receivable | 41 | €9,600 | €6,600 | -€3,000 | -31.3% |
| Current investments | 50/53 | €6,343,431 | €6,700,957 | +€357,525 | +5.6% |
| Cash at bank and in hand | 54/58 | €614,313 | €519,188 | -€95,125 | -15.5% |
| Deferred charges and accrued income | 490/1 | €2,812 | €2,566 | -€245 | -8.7% |
| Total equity and liabilities | 10/49 | €11,426,662 | €11,423,045 | -€3,618 | 0.0% |
| Equity | 10/15 | €10,089,932 | €10,035,300 | -€54,632 | -0.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €9,889,932 | €9,835,300 | -€54,632 | -0.6% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,862 | €56,398 | -€5,464 | -8.8% |
| Distributable reserves | 133 | €9,628,070 | €9,578,903 | -€49,168 | -0.5% |
| Provisions and deferred taxes | 16 | €34,384 | €31,825 | -€2,559 | -7.4% |
| Deferred taxes | 168 | €34,384 | €31,825 | -€2,559 | -7.4% |
| Amounts payable | 17/49 | €1,302,346 | €1,355,919 | +€53,574 | +4.1% |
| Amounts payable after more than one year | 17 | €352,063 | €352,229 | +€167 | 0.0% |
| Financial debts | 170/4 | €347,051 | €347,051 | = | 0.0% |
| Other amounts payable | 178/9 | €5,012 | €5,178 | +€167 | +3.3% |
| Amounts payable within one year | 42/48 | €394,068 | €501,496 | +€107,427 | +27.3% |
| Trade debts | 44 | - | €1,392 | +€1,392 | |
| Suppliers | 440/4 | - | €1,392 | +€1,392 | |
| Taxes, remuneration and social security | 45 | €15,695 | €30,163 | +€14,467 | +92.2% |
| Taxes | 450/3 | €1,271 | €15,323 | +€14,052 | +1105.7% |
| Remuneration and social security | 454/9 | €14,424 | €14,839 | +€415 | +2.9% |
| Other amounts payable | 47/48 | €378,373 | €469,941 | +€91,568 | +24.2% |
| Accrued charges and deferred income | 492/3 | €556,215 | €502,194 | -€54,020 | -9.7% |
| Non-recurring operating income | 76A | - | €13,500 | +€13,500 | |
| Remuneration, social security and pensions | 62 | €74,953 | €78,383 | +€3,430 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339,433 | €378,605 | +€39,172 | +11.5% |
| Other operating charges | 640/8 | €43,208 | €42,678 | -€531 | -1.2% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €347,859 | €361,811 | +€13,952 | +4.0% |
| Operating profit (loss) | 9901 | -€109,985 | -€137,854 | -€27,870 | -25.3% |
| Financial income | 75/76B | €93,450 | €472,538 | +€379,088 | +405.7% |
| Recurring financial income | 75 | €93,450 | €472,538 | +€379,088 | +405.7% |
| Financial charges | 65/66B | €55,812 | €66,898 | +€11,086 | +19.9% |
| Recurring financial charges | 65 | €55,812 | €66,898 | +€11,086 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | -€72,346 | €267,786 | +€340,131 | |
| Transfer from deferred taxes | 780 | €2,559 | €2,559 | = | 0.0% |
| Income taxes | 67/77 | €4,069 | €24,977 | +€20,908 | +513.8% |
| Profit (loss) for the period | 9904 | -€73,856 | €245,368 | +€319,224 | |
| Transfer from tax-exempt reserves | 789 | €5,464 | €5,464 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,391 | €250,832 | +€319,224 |
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 8 October 2026 via checked.be.