ONLINE: 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
ONLINE
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8,904
2024 · -€158,239+€167,143
Equity
€533,960
2024 · €525,056+€8,904
Cash
€75,980
2024 · €99,208-€23,227
Balance sheet total
€6.2m
2024 · €6.3m-€146,650
Largest movements
Assets
- Tangible fixed assets -€225,707
down €225,707 (-5.0%), from €4.5m to €4.3m
of which Land and buildings: -€231,091
Equity and liabilities
- Debts after one year -€115,250
down €115,250 (-3.3%), from €3.5m to €3.3m
Income statement
- Financial charges -€146,372
down €146,372 (-51.8%), from €282,725 to €136,353
- Gross operating margin +€33,819
up €33,819 (+13.5%), from €250,206 to €284,025
- Financial income -€11,198
down €11,198 (-7.5%), from €149,208 to €138,010
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
-€158,239
Gross operating margin
+€33,819
Depreciation
-€925
Other operating charges
-€953
Financial income
-€11,198
Financial charges
+€146,372
Taxes
+€29
Result 2025
€8,904
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
+€153,488
Investment
-€62,431
Financing
-€114,285
Cash 2024
€99,208
From operations (derived)
+€153,488
Net result for the year
+€8,904
Depreciation
+€233,707
Receivables within one year
-€51,533
Deferred charges and accrued income
+€3,680
Provisions
-€3,694
Trade debts
-€12
Other debts
-€28,024
Accrued charges and deferred income
-€9,540
Investment (derived)
-€62,431
Investment in fixed assets (net)
-€8,000
Current investments
-€54,431
Financing
-€114,285
Debts after one year
-€115,250
Current portion of long-term debt
+€966
Cash 2025
€75,980
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,340,773 | €6,194,123 | -€146,650 | -2.3% |
| Fixed assets | 21/28 | €4,551,483 | €4,325,777 | -€225,707 | -5.0% |
| Tangible fixed assets | 22/27 | €4,548,483 | €4,322,777 | -€225,707 | -5.0% |
| Land and buildings | 22 | €4,541,442 | €4,310,350 | -€231,091 | -5.1% |
| Plant, machinery and equipment | 23 | €7,042 | €5,316 | -€1,726 | -24.5% |
| Furniture and vehicles | 24 | - | €7,110 | +€7,110 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,789,289 | €1,868,346 | +€79,057 | +4.4% |
| Amounts receivable within one year | 40/41 | €110,087 | €161,620 | +€51,533 | +46.8% |
| Trade receivables | 40 | €56,709 | €92,022 | +€35,313 | +62.3% |
| Other amounts receivable | 41 | €53,378 | €69,598 | +€16,220 | +30.4% |
| Current investments | 50/53 | €1,562,105 | €1,616,536 | +€54,431 | +3.5% |
| Cash at bank and in hand | 54/58 | €99,208 | €75,980 | -€23,227 | -23.4% |
| Deferred charges and accrued income | 490/1 | €17,890 | €14,210 | -€3,680 | -20.6% |
| Total equity and liabilities | 10/49 | €6,340,773 | €6,194,123 | -€146,650 | -2.3% |
| Equity | 10/15 | €525,056 | €533,960 | +€8,904 | +1.7% |
| Contributions | 10/11 | €85,500 | €85,500 | = | 0.0% |
| Reserves | 13 | €439,556 | €448,460 | +€8,904 | +2.0% |
| Tax-exempt reserves | 132 | €184,360 | €175,565 | -€8,795 | -4.8% |
| Distributable reserves | 133 | €255,195 | €272,895 | +€17,699 | +6.9% |
| Provisions and deferred taxes | 16 | €77,441 | €73,746 | -€3,694 | -4.8% |
| Deferred taxes | 168 | €77,441 | €73,746 | -€3,694 | -4.8% |
| Amounts payable | 17/49 | €5,738,276 | €5,586,416 | -€151,860 | -2.6% |
| Amounts payable after more than one year | 17 | €3,464,716 | €3,349,465 | -€115,250 | -3.3% |
| Financial debts | 170/4 | €3,464,716 | €3,349,465 | -€115,250 | -3.3% |
| Amounts payable within one year | 42/48 | €2,207,739 | €2,180,670 | -€27,070 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €121,960 | €122,926 | +€966 | +0.8% |
| Financial debts | 43 | €1,250,000 | €1,250,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,250,000 | €1,250,000 | = | 0.0% |
| Trade debts | 44 | €332 | €320 | -€12 | -3.5% |
| Suppliers | 440/4 | €332 | €320 | -€12 | -3.5% |
| Other amounts payable | 47/48 | €835,447 | €807,423 | -€28,024 | -3.4% |
| Accrued charges and deferred income | 492/3 | €65,821 | €56,281 | -€9,540 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,781 | €233,707 | +€925 | +0.4% |
| Other operating charges | 640/8 | €45,631 | €46,585 | +€953 | +2.1% |
| Gross operating margin | 9900 | €250,206 | €284,025 | +€33,819 | +13.5% |
| Operating profit (loss) | 9901 | -€28,207 | €3,733 | +€31,941 | |
| Financial income | 75/76B | €149,208 | €138,010 | -€11,198 | -7.5% |
| Recurring financial income | 75 | €149,208 | €138,010 | -€11,198 | -7.5% |
| Financial charges | 65/66B | €282,725 | €136,353 | -€146,372 | -51.8% |
| Recurring financial charges | 65 | €282,725 | €136,353 | -€146,372 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | -€161,724 | €5,390 | +€167,114 | |
| Transfer from deferred taxes | 780 | €3,694 | €3,694 | = | 0.0% |
| Income taxes | 67/77 | €209 | €180 | -€29 | -13.7% |
| Profit (loss) for the period | 9904 | -€158,239 | €8,904 | +€167,143 | |
| Transfer from tax-exempt reserves | 789 | €8,795 | €8,795 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,444 | €17,699 | +€167,143 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.