PP: what changed
What changed
PP
NACE 77.223, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€147,735
2024 · €211,988-€64,253
Equity
€195,016
2024 · -€2,719+€197,735
Cash
€173,054
2024 · €1,840+€171,214
Balance sheet total
€1.3m
2024 · €1.3m+€3,854
Largest movements
Assets
- Cash +€171,214
up €171,214 (+9,305%), from €1,840 to €173,054
mainly Net result for the year (+€147,735) and Investment in fixed assets (net) (+€138,635)
- Tangible fixed assets -€167,660
down €167,660 (-12.8%), from €1.3m to €1.1m
of which Land and buildings: -€165,712
Equity and liabilities
- Debts after one year -€156,041
down €156,041 (-77.6%), from €201,041 to €45,000
- Profit (loss) carried forward +€147,735
up €147,735 (+96.3%), from -€153,413 to -€5,679
- Tax, wage and social debts +€56,224
up €56,224, from €0 to €56,224
- Other debts -€55,900
down €55,900 (-5.2%), from €1.1m to €1.0m
- Revaluation surpluses +€50,000
new in 2025: €50,000
Income statement
- Gross operating margin -€92,235
down €92,235 (-22.1%), from €418,058 to €325,823
- Other operating charges +€62,332
up €62,332 (+702%), from €8,881 to €71,212
- Taxes +€56,224
new in 2025: €56,224
- Financial charges +€16,291
up €16,291 (+305%), from €5,337 to €21,628
- Depreciation -€13,668
down €13,668 (-32.0%), from €42,693 to €29,025
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
€211,988
Gross operating margin
-€92,235
Depreciation
+€13,668
Other operating charges
-€62,332
Other operating items
+€149,160
Financial charges
-€16,291
Taxes
-€56,224
Result 2025
€147,735
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
+€175,054
Investment
+€138,635
Financing
-€142,475
Cash 2024
€1,840
From operations (derived)
+€175,054
Net result for the year
+€147,735
Depreciation
+€29,025
Receivables within one year
-€934
Deferred charges and accrued income
+€634
Trade debts
-€1,729
Tax, wage and social debts
+€56,224
Other debts
-€55,900
Investment (derived)
+€138,635
Investment in fixed assets (net)
+€138,635
Financing
-€142,475
Debts after one year
-€156,041
Current portion of long-term debt
-€36,434
Contributions, distributions and other
+€50,000
Cash 2025
€173,054
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,318,094 | €1,321,948 | +€3,854 | +0.3% |
| Fixed assets | 21/28 | €1,313,646 | €1,145,985 | -€167,660 | -12.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,313,646 | €1,145,985 | -€167,660 | -12.8% |
| Land and buildings | 22 | €1,311,697 | €1,145,985 | -€165,712 | -12.6% |
| Plant, machinery and equipment | 23 | €1,528 | €0 | -€1,528 | -100% |
| Furniture and vehicles | 24 | €420 | €0 | -€420 | -100% |
| Current assets | 29/58 | €4,449 | €175,962 | +€171,514 | +3,855% |
| Amounts receivable within one year | 40/41 | €987 | €1,921 | +€934 | +94.6% |
| Trade receivables | 40 | €0 | €942 | +€942 | |
| Other amounts receivable | 41 | €987 | €979 | -€8 | -0.8% |
| Cash at bank and in hand | 54/58 | €1,840 | €173,054 | +€171,214 | +9,305% |
| Deferred charges and accrued income | 490/1 | €1,621 | €987 | -€634 | -39.1% |
| Total equity and liabilities | 10/49 | €1,318,094 | €1,321,948 | +€3,854 | +0.3% |
| Equity | 10/15 | -€2,719 | €195,016 | +€197,735 | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €50,000 | +€50,000 | |
| Reserves | 13 | €694 | €694 | = | 0.0% |
| Non-distributable reserves | 130/1 | €694 | €694 | = | 0.0% |
| Legal reserve | 130 | €694 | €694 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,413 | -€5,679 | +€147,735 | +96.3% |
| Amounts payable | 17/49 | €1,320,813 | €1,126,932 | -€193,881 | -14.7% |
| Amounts payable after more than one year | 17 | €201,041 | €45,000 | -€156,041 | -77.6% |
| Financial debts | 170/4 | €201,041 | €45,000 | -€156,041 | -77.6% |
| Amounts payable within one year | 42/48 | €1,119,772 | €1,081,932 | -€37,840 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €36,434 | €0 | -€36,434 | -100% |
| Trade debts | 44 | €6,112 | €4,382 | -€1,729 | -28.3% |
| Suppliers | 440/4 | €6,112 | €4,382 | -€1,729 | -28.3% |
| Taxes, remuneration and social security | 45 | €0 | €56,224 | +€56,224 | |
| Taxes | 450/3 | €0 | €56,224 | +€56,224 | |
| Other amounts payable | 47/48 | €1,077,226 | €1,021,326 | -€55,900 | -5.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €308,341 | +€308,341 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,693 | €29,025 | -€13,668 | -32.0% |
| Other operating charges | 640/8 | €8,881 | €71,212 | +€62,332 | +702% |
| Non-recurring operating charges | 66A | €149,160 | €0 | -€149,160 | -100% |
| Gross operating margin | 9900 | €418,058 | €325,823 | -€92,235 | -22.1% |
| Operating profit (loss) | 9901 | €217,325 | €225,586 | +€8,261 | +3.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,337 | €21,628 | +€16,291 | +305% |
| Recurring financial charges | 65 | €5,337 | €21,628 | +€16,291 | +305% |
| Profit (loss) for the period before taxes | 9903 | €211,988 | €203,958 | -€8,030 | -3.8% |
| Income taxes | 67/77 | - | €56,224 | +€56,224 | |
| Profit (loss) for the period | 9904 | €211,988 | €147,735 | -€64,253 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €211,988 | €147,735 | -€64,253 | -30.3% |
Next steps
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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 3 November 2026 via checked.be.