P.M.J.: what changed
What changed
P.M.J.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€29,895
2024 · €25,396-€55,291
Equity
€868,179
2024 · €898,073-€29,895
Cash
€33,740
2024 · €56,807-€23,067
Balance sheet total
€1.3m
2024 · €1.3m-€71,539
Largest movements
Assets
- Tangible fixed assets -€40,028
down €40,028 (-3.2%), from €1.3m to €1.2m
of which Land and buildings: -€38,194
- Cash -€23,067
down €23,067 (-40.6%), from €56,807 to €33,740
mainly Net result for the year (-€29,895) and Debts after one year (-€25,002)
Equity and liabilities
- Reserves -€29,895
down €29,895 (-4.1%), from €725,376 to €695,481
of which Distributable reserves: -€21,829
- Debts after one year -€25,002
down €25,002 (-10.5%), from €238,937 to €213,935
Income statement
- Gross operating margin -€44,055
down €44,055 (-46.0%), from €95,859 to €51,804
- Depreciation +€19,072
up €19,072 (+47.2%), from €40,369 to €59,441
- Taxes -€7,561
down €7,561 (-58.9%), from €12,845 to €5,284
- Financial charges -€3,669
down €3,669 (-24.7%), from €14,885 to €11,216
- Other operating charges +€3,452
up €3,452 (+64.5%), from €5,356 to €8,808
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.
Result 2024
€25,396
Gross operating margin
-€44,055
Depreciation
-€19,072
Other operating charges
-€3,452
Financial income
+€30
Financial charges
+€3,669
Taxes
+€7,561
Deferred taxes and other
+€29
Result 2025
-€29,895
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€20,958
Investment
-€19,413
Financing
-€24,612
Cash 2024
€56,807
From operations (derived)
+€20,958
Net result for the year
-€29,895
Depreciation
+€59,441
Receivables within one year
+€8,410
Deferred charges and accrued income
+€34
Provisions
-€2,841
Trade debts
+€3,724
Tax, wage and social debts
-€9,440
Other debts
-€7,870
Accrued charges and deferred income
-€605
Investment (derived)
-€19,413
Investment in fixed assets (net)
-€19,413
Financing
-€24,612
Debts after one year
-€25,002
Current portion of long-term debt
+€390
Cash 2025
€33,740
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,331,489 | €1,259,951 | -€71,539 | -5.4% |
| Fixed assets | 21/28 | €1,260,536 | €1,220,508 | -€40,028 | -3.2% |
| Tangible fixed assets | 22/27 | €1,260,536 | €1,220,508 | -€40,028 | -3.2% |
| Land and buildings | 22 | €1,249,407 | €1,211,213 | -€38,194 | -3.1% |
| Furniture and vehicles | 24 | €11,129 | €9,295 | -€1,834 | -16.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €70,954 | €39,443 | -€31,511 | -44.4% |
| Amounts receivable within one year | 40/41 | €12,869 | €4,459 | -€8,410 | -65.4% |
| Trade receivables | 40 | €12,869 | €4,459 | -€8,410 | -65.4% |
| Cash at bank and in hand | 54/58 | €56,807 | €33,740 | -€23,067 | -40.6% |
| Deferred charges and accrued income | 490/1 | €1,278 | €1,244 | -€34 | -2.6% |
| Total equity and liabilities | 10/49 | €1,331,489 | €1,259,951 | -€71,539 | -5.4% |
| Equity | 10/15 | €898,073 | €868,179 | -€29,895 | -3.3% |
| Contributions | 10/11 | €172,697 | €172,697 | = | 0.0% |
| Reserves | 13 | €725,376 | €695,481 | -€29,895 | -4.1% |
| Tax-exempt reserves | 132 | €157,030 | €148,965 | -€8,066 | -5.1% |
| Distributable reserves | 133 | €568,346 | €546,517 | -€21,829 | -3.8% |
| Provisions and deferred taxes | 16 | €56,294 | €53,453 | -€2,841 | -5.0% |
| Deferred taxes | 168 | €56,294 | €53,453 | -€2,841 | -5.0% |
| Amounts payable | 17/49 | €377,122 | €338,319 | -€38,803 | -10.3% |
| Amounts payable after more than one year | 17 | €238,937 | €213,935 | -€25,002 | -10.5% |
| Financial debts | 170/4 | €238,937 | €213,935 | -€25,002 | -10.5% |
| Amounts payable within one year | 42/48 | €137,225 | €124,029 | -€13,196 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €49,112 | €49,502 | +€390 | +0.8% |
| Trade debts | 44 | €7,175 | €10,898 | +€3,724 | +51.9% |
| Suppliers | 440/4 | €7,175 | €10,898 | +€3,724 | +51.9% |
| Taxes, remuneration and social security | 45 | €12,357 | €2,917 | -€9,440 | -76.4% |
| Taxes | 450/3 | €12,357 | €2,917 | -€9,440 | -76.4% |
| Other amounts payable | 47/48 | €68,582 | €60,711 | -€7,870 | -11.5% |
| Accrued charges and deferred income | 492/3 | €960 | €355 | -€605 | -63.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,369 | €59,441 | +€19,072 | +47.2% |
| Other operating charges | 640/8 | €5,356 | €8,808 | +€3,452 | +64.5% |
| Gross operating margin | 9900 | €95,859 | €51,804 | -€44,055 | -46.0% |
| Operating profit (loss) | 9901 | €50,134 | -€16,445 | -€66,579 | |
| Financial income | 75/76B | €180 | €210 | +€30 | +16.4% |
| Recurring financial income | 75 | €180 | €210 | +€30 | +16.4% |
| Financial charges | 65/66B | €14,885 | €11,216 | -€3,669 | -24.7% |
| Recurring financial charges | 65 | €14,885 | €11,216 | -€3,669 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €35,429 | -€27,451 | -€62,880 | |
| Transfer from deferred taxes | 780 | €2,812 | €2,841 | +€29 | +1.0% |
| Income taxes | 67/77 | €12,845 | €5,284 | -€7,561 | -58.9% |
| Profit (loss) for the period | 9904 | €25,396 | -€29,895 | -€55,291 | |
| Transfer from tax-exempt reserves | 789 | €7,980 | €8,066 | +€86 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,376 | -€21,829 | -€55,205 |
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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 4 November 2026 via checked.be.