Power-Line.BE: 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
Power-Line.BE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€71,191
2024 · €191,410-€120,219
Equity
€1.7m
2024 · €1.6m+€71,191
Cash
€107,799
2024 · €190,443-€82,643
Balance sheet total
€4.9m
2024 · €4.9m-€13,175
Largest movements
Assets
- Deferred charges and accrued income +€89,490
up €89,490 (+35.1%), from €255,282 to €344,771
- Cash -€82,643
down €82,643 (-43.4%), from €190,443 to €107,799
mainly Short-term financial debts (-€2.5m) and Deferred charges and accrued income (-€89,490)
Equity and liabilities
- Short-term financial debts -€2.5m
down €2.5m (-100.0%), from €2.5m to €1
- Debts after one year +€2.4m
up €2.4m (+335%), from €707,576 to €3.1m
of which Financial debts: +€2.4m
- Reserves +€71,191
up €71,191 (+4.5%), from €1.6m to €1.7m
of which Distributable reserves: +€71,191
Income statement
- Gross operating margin -€195,665
down €195,665 (-49.8%), from €392,619 to €196,955
- Taxes -€62,393
down €62,393, from €53,145 to -€9,248
- Financial income +€43,486
up €43,486 (+479%), from €9,070 to €52,556
- Financial charges +€15,205
up €15,205 (+29.4%), from €51,758 to €66,964
- Other operating charges +€11,244
up €11,244 (+29.5%), from €38,166 to €49,410
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
€191,410
Gross operating margin
-€195,665
Staff costs
-€272
Depreciation
-€4,035
Other operating charges
-€11,244
Other operating items
+€323
Financial income
+€43,486
Financial charges
-€15,205
Taxes
+€62,393
Result 2025
€71,191
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€13,053
Investment
-€31,015
Financing
-€64,682
Cash 2024
€190,443
From operations (derived)
+€13,053
Net result for the year
+€71,191
Depreciation
+€56,826
Smaller working-capital items
-€1,271
Deferred charges and accrued income
-€89,490
Trade debts
+€18,692
Accrued charges and deferred income
-€42,896
Investment (derived)
-€31,015
Investment in fixed assets (net)
-€31,015
Financing
-€64,682
Debts after one year
+€2.4m
Current portion of long-term debt
+€29,093
Short-term financial debts
-€2.5m
Cash 2025
€107,799
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,933,276 | €4,920,101 | -€13,175 | -0.3% |
| Fixed assets | 21/28 | €1,753,474 | €1,727,662 | -€25,812 | -1.5% |
| Tangible fixed assets | 22/27 | €1,750,474 | €1,724,662 | -€25,812 | -1.5% |
| Land and buildings | 22 | €1,650,488 | €1,626,990 | -€23,498 | -1.4% |
| Plant, machinery and equipment | 23 | €60,769 | €57,054 | -€3,715 | -6.1% |
| Furniture and vehicles | 24 | €9,696 | €11,832 | +€2,136 | +22.0% |
| Other tangible fixed assets | 26 | €29,521 | €28,786 | -€735 | -2.5% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €3,179,803 | €3,192,439 | +€12,637 | +0.4% |
| Stocks and contracts in progress | 3 | €2,350,000 | €2,350,000 | = | 0.0% |
| Stocks | 30/36 | €2,350,000 | €2,350,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €82,974 | €88,765 | +€5,790 | +7.0% |
| Trade receivables | 40 | €79,326 | €69,206 | -€10,120 | -12.8% |
| Other amounts receivable | 41 | €3,648 | €19,559 | +€15,910 | +436% |
| Current investments | 50/53 | €301,104 | €301,104 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €190,443 | €107,799 | -€82,643 | -43.4% |
| Deferred charges and accrued income | 490/1 | €255,282 | €344,771 | +€89,490 | +35.1% |
| Total equity and liabilities | 10/49 | €4,933,276 | €4,920,101 | -€13,175 | -0.3% |
| Equity | 10/15 | €1,648,135 | €1,719,326 | +€71,191 | +4.3% |
| Contributions | 10/11 | €63,500 | €63,500 | = | 0.0% |
| Capital | 10 | €63,500 | €63,500 | = | 0.0% |
| Issued capital | 100 | €63,500 | €63,500 | = | 0.0% |
| Reserves | 13 | €1,584,635 | €1,655,826 | +€71,191 | +4.5% |
| Non-distributable reserves | 130/1 | €6,350 | €6,350 | = | 0.0% |
| Legal reserve | 130 | €6,350 | €6,350 | = | 0.0% |
| Distributable reserves | 133 | €1,578,285 | €1,649,476 | +€71,191 | +4.5% |
| Amounts payable | 17/49 | €3,285,142 | €3,200,776 | -€84,366 | -2.6% |
| Amounts payable after more than one year | 17 | €707,576 | €3,075,159 | +€2.4m | +335% |
| Financial debts | 170/4 | €705,417 | €3,073,000 | +€2.4m | +336% |
| Other amounts payable | 178/9 | €2,159 | €2,159 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,511,310 | €102,257 | -€2.4m | -95.9% |
| Current portion of amounts payable after more than one year | 42 | €20,324 | €49,417 | +€29,093 | +143% |
| Financial debts | 43 | €2,461,359 | €1 | -€2.5m | -100.0% |
| Credit institutions | 430/8 | €2,461,359 | €1 | -€2.5m | -100.0% |
| Trade debts | 44 | €11,936 | €30,629 | +€18,692 | +157% |
| Suppliers | 440/4 | €11,936 | €30,629 | +€18,692 | +157% |
| Taxes, remuneration and social security | 45 | €16,512 | €21,243 | +€4,731 | +28.7% |
| Taxes | 450/3 | €15,445 | €20,076 | +€4,632 | +30.0% |
| Remuneration and social security | 454/9 | €1,067 | €1,167 | +€99 | +9.3% |
| Other amounts payable | 47/48 | €1,178 | €967 | -€212 | -18.0% |
| Accrued charges and deferred income | 492/3 | €66,255 | €23,360 | -€42,896 | -64.7% |
| Non-recurring operating income | 76A | €8,365 | €1,143 | -€7,222 | -86.3% |
| Remuneration, social security and pensions | 62 | €14,097 | €14,369 | +€272 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,791 | €56,826 | +€4,035 | +7.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €38,166 | €49,410 | +€11,244 | +29.5% |
| Non-recurring operating charges | 66A | €323 | €0 | -€323 | -100% |
| Gross operating margin | 9900 | €392,619 | €196,955 | -€195,665 | -49.8% |
| Operating profit (loss) | 9901 | €287,243 | €76,350 | -€210,893 | -73.4% |
| Financial income | 75/76B | €9,070 | €52,556 | +€43,486 | +479% |
| Recurring financial income | 75 | €9,070 | €52,556 | +€43,486 | +479% |
| Financial charges | 65/66B | €51,758 | €66,964 | +€15,205 | +29.4% |
| Recurring financial charges | 65 | €51,758 | €66,964 | +€15,205 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €244,555 | €61,942 | -€182,613 | -74.7% |
| Income taxes | 67/77 | €53,145 | -€9,248 | -€62,393 | |
| Profit (loss) for the period | 9904 | €191,410 | €71,191 | -€120,219 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €191,410 | €71,191 | -€120,219 | -62.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.