Part - Selekt: 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
Part - Selekt
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€1.6m
2023 · -€46,410-€1.6m
Equity
€308,442
2023 · €2.7m-€2.4m
Cash
€2,085
2023 · €2,500-€415
Balance sheet total
€7.5m
2023 · €9.6m-€2.1m
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-36.7%), from €5.0m to €3.2m
of which Other amounts receivable: -€1.8m
- Tangible fixed assets -€164,469
down €164,469 (-7.1%), from €2.3m to €2.2m
Equity and liabilities
- Reserves -€2.4m
down €2.4m (-91.7%), from €2.6m to €219,442
of which Tax-exempt reserves: -€2.2m
- Trade debts +€1.3m
up €1.3m (+5,699%), from €22,729 to €1.3m
- Short-term financial debts -€1.3m
down €1.3m (-22.4%), from €5.7m to €4.4m
- Provisions -€740,681
down €740,681 (-96.6%), from €767,012 to €26,331
- Debts after one year +€529,063
up €529,063 (+190%), from €278,650 to €807,713
Income statement
- Financial charges +€1.4m
up €1.4m (+699%), from €194,253 to €1.6m
- Gross operating margin -€821,577
down €821,577, from €219,731 to -€601,847
- Financial income -€158,614
down €158,614 (-100.0%), from €158,614 to €0
- Taxes +€34,502
up €34,502 (+393%), from €8,773 to €43,275
- Depreciation -€25,846
down €25,846 (-21.6%), from €119,518 to €93,672
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
-€46,410
Gross operating margin
-€821,577
Staff costs
+€15,917
Depreciation
+€25,846
Other operating charges
+€14,213
Other operating items
+€28,554
Financial income
-€158,614
Financial charges
-€1.4m
Taxes
-€34,502
Deferred taxes and other
+€720,826
Result 2024
-€1.6m
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
+€1.4m
Investment
+€70,797
Financing
-€1.5m
Cash 2023
€2,500
From operations (derived)
+€1.4m
Net result for the year
-€1.6m
Depreciation
+€93,672
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€47,990
Provisions
-€740,681
Trade debts
+€1.3m
Tax, wage and social debts
+€28,334
Other debts
+€497,978
Accrued charges and deferred income
-€26,698
Investment (derived)
+€70,797
Investment in fixed assets (net)
+€70,797
Financing
-€1.5m
Debts after one year
+€529,063
Current portion of long-term debt
+€40,000
Short-term financial debts
-€1.3m
Contributions, distributions and other
-€800,000
Cash 2024
€2,085
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,572,413 | €7,507,843 | -€2.1m | -21.6% |
| Fixed assets | 21/28 | €2,321,812 | €2,157,343 | -€164,469 | -7.1% |
| Tangible fixed assets | 22/27 | €2,321,812 | €2,157,343 | -€164,469 | -7.1% |
| Land and buildings | 22 | €2,321,812 | €2,157,343 | -€164,469 | -7.1% |
| Current assets | 29/58 | €7,250,600 | €5,350,500 | -€1.9m | -26.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,030,755 | €2,030,755 | = | 0.0% |
| Stocks | 30/36 | €2,030,755 | €2,030,755 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,044,894 | €3,193,199 | -€1.9m | -36.7% |
| Trade receivables | 40 | €27,027 | €1,694 | -€25,333 | -93.7% |
| Other amounts receivable | 41 | €5,017,867 | €3,191,505 | -€1.8m | -36.4% |
| Cash at bank and in hand | 54/58 | €2,500 | €2,085 | -€415 | -16.6% |
| Deferred charges and accrued income | 490/1 | €97,451 | €49,460 | -€47,990 | -49.2% |
| Total equity and liabilities | 10/49 | €9,572,413 | €7,507,843 | -€2.1m | -21.6% |
| Equity | 10/15 | €2,721,492 | €308,442 | -€2.4m | -88.7% |
| Contributions | 10/11 | €89,000 | €89,000 | = | 0.0% |
| Contributions outside capital | 11 | €89,000 | - | -€89,000 | |
| Other | 1109/19 | €89,000 | - | -€89,000 | |
| Reserves | 13 | €2,632,492 | €219,442 | -€2.4m | -91.7% |
| Tax-exempt reserves | 132 | €2,301,035 | €78,993 | -€2.2m | -96.6% |
| Distributable reserves | 133 | €331,457 | €140,449 | -€191,007 | -57.6% |
| Provisions and deferred taxes | 16 | €767,012 | €26,331 | -€740,681 | -96.6% |
| Deferred taxes | 168 | €767,012 | €26,331 | -€740,681 | -96.6% |
| Amounts payable | 17/49 | €6,083,910 | €7,173,070 | +€1.1m | +17.9% |
| Amounts payable after more than one year | 17 | €278,650 | €807,713 | +€529,063 | +190% |
| Financial debts | 170/4 | €278,650 | €807,713 | +€529,063 | +190% |
| Amounts payable within one year | 42/48 | €5,764,405 | €6,351,201 | +€586,796 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €17,604 | €57,604 | +€40,000 | +227% |
| Financial debts | 43 | €5,701,758 | €4,426,886 | -€1.3m | -22.4% |
| Credit institutions | 430/8 | €5,701,758 | €4,426,886 | -€1.3m | -22.4% |
| Trade debts | 44 | €22,729 | €1,318,085 | +€1.3m | +5,699% |
| Suppliers | 440/4 | €22,729 | €1,318,085 | +€1.3m | +5,699% |
| Taxes, remuneration and social security | 45 | €19,254 | €47,588 | +€28,334 | +147% |
| Taxes | 450/3 | €12,910 | €46,510 | +€33,599 | +260% |
| Remuneration and social security | 454/9 | €6,344 | €1,078 | -€5,266 | -83.0% |
| Other amounts payable | 47/48 | €3,060 | €501,038 | +€497,978 | +16,275% |
| Accrued charges and deferred income | 492/3 | €40,854 | €14,156 | -€26,698 | -65.3% |
| Remuneration, social security and pensions | 62 | €72,802 | €56,885 | -€15,917 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,518 | €93,672 | -€25,846 | -21.6% |
| Other operating charges | 640/8 | €20,709 | €6,497 | -€14,213 | -68.6% |
| Non-recurring operating charges | 66A | €28,554 | - | -€28,554 | |
| Gross operating margin | 9900 | €219,731 | -€601,847 | -€821,577 | |
| Operating profit (loss) | 9901 | -€21,852 | -€758,900 | -€737,047 | -3,373% |
| Financial income | 75/76B | €158,614 | €0 | -€158,614 | -100.0% |
| Recurring financial income | 75 | €158,614 | €0 | -€158,614 | -100.0% |
| Financial charges | 65/66B | €194,253 | €1,551,556 | +€1.4m | +699% |
| Recurring financial charges | 65 | €194,253 | €1,551,556 | +€1.4m | +699% |
| Profit (loss) for the period before taxes | 9903 | -€57,492 | -€2,310,456 | -€2.3m | -3,919% |
| Transfer from deferred taxes | 780 | €19,855 | €740,681 | +€720,826 | +3,631% |
| Income taxes | 67/77 | €8,773 | €43,275 | +€34,502 | +393% |
| Profit (loss) for the period | 9904 | -€46,410 | -€1,613,050 | -€1.6m | -3,376% |
| Transfer from tax-exempt reserves | 789 | €59,564 | €2,222,042 | +€2.2m | +3,631% |
| Profit (loss) for the period to be appropriated | 9905 | €13,153 | €608,993 | +€595,839 | +4,530% |
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.