PROLOGE: 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
PROLOGE
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €899,601+€572,165
Equity
€29.3m
2024 · €27.8m+€1.5m
Cash
€343,483
2024 · €91,830+€251,654
Balance sheet total
€33.6m
2024 · €42.1m-€8.4m
Largest movements
Assets
- Stocks and contracts -€9.8m
down €9.8m (-61.1%), from €16.0m to €6.2m
- Tangible fixed assets +€2.9m
up €2.9m (+135.4%), from €2.1m to €5.0m
of which Land and buildings: +€2.7m
- Deferred charges and accrued income -€1.7m
down €1.7m (-73.7%), from €2.4m to €617,448
- Receivables within one year +€427,420
up €427,420 (+2.0%), from €20.9m to €21.3m
of which Trade receivables: +€778,251
Equity and liabilities
- Short-term financial debts -€10.6m
down €10.6m (-96.1%), from €11.0m to €430,000
- Reserves +€1.5m
up €1.5m (+6.4%), from €23.6m to €25.1m
of which Tax-exempt reserves: +€999,875
- Other debts +€1.1m
up €1.1m (+131.2%), from €871,663 to €2.0m
- Trade debts -€528,634
down €528,634 (-28.3%), from €1.9m to €1.3m
Income statement
- Turnover -€8.2m
no longer reported in 2025 (was €8.2m)
- Goods and materials -€6.5m
no longer reported in 2025 (was €6.5m)
- Gross operating margin +€2.8m
new in 2025: €2.8m
- Services and other goods -€546,731
no longer reported in 2025 (was €546,731)
- Financial charges -€434,753
down €434,753 (-63.9%), from €680,385 to €245,632
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
€899,601
Turnover
-€8.2m
Other operating income
-€198,165
Goods and materials
+€6.5m
Services and other goods
+€546,731
Staff costs
-€98,650
Depreciation
-€53,317
Provisions
-€145,260
Other operating charges
-€11,309
Other operating items
+€1.8m
Financial income
-€28,721
Financial charges
+€434,753
Taxes
-€39,735
Result 2025
€1.5m
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
+€13.4m
Investment
-€2.6m
Financing
-€10.6m
Cash 2024
€91,830
From operations (derived)
+€13.4m
Net result for the year
+€1.5m
Depreciation
+€159,408
Stocks and contracts
+€9.8m
Receivables within one year
-€427,420
Deferred charges and accrued income
+€1.7m
Trade debts
-€528,634
Smaller working-capital items
+€24,425
Advances received
+€42,332
Other debts
+€1.1m
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Financing
-€10.6m
Short-term financial debts
-€10.6m
Cash 2025
€343,483
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,058,517 | €33,642,327 | -€8.4m | -20.0% |
| Fixed assets | 21/28 | €2,744,199 | €5,174,667 | +€2.4m | +88.6% |
| Tangible fixed assets | 22/27 | €2,104,626 | €4,954,920 | +€2.9m | +135.4% |
| Land and buildings | 22 | €2,042,121 | €4,715,316 | +€2.7m | +130.9% |
| Plant, machinery and equipment | 23 | €640 | €9,300 | +€8,660 | +1354.2% |
| Furniture and vehicles | 24 | €61,866 | €230,304 | +€168,438 | +272.3% |
| Financial fixed assets | 28 | €639,573 | €219,748 | -€419,825 | -65.6% |
| Other financial fixed assets | 284/8 | €639,573 | - | -€639,573 | |
| Amounts receivable and cash guarantees | 285/8 | €639,573 | - | -€639,573 | |
| Current assets | 29/58 | €39,314,318 | €28,467,659 | -€10.8m | -27.6% |
| Stocks and contracts in progress | 3 | €16,015,003 | €6,223,853 | -€9.8m | -61.1% |
| Stocks | 30/36 | €16,015,003 | €6,223,853 | -€9.8m | -61.1% |
| Property held for sale | 35 | €16,015,003 | - | -€16.0m | |
| Amounts receivable within one year | 40/41 | €20,855,455 | €21,282,875 | +€427,420 | +2.0% |
| Trade receivables | 40 | €23,983 | €802,234 | +€778,251 | +3245.0% |
| Other amounts receivable | 41 | €20,831,472 | €20,480,642 | -€350,831 | -1.7% |
| Cash at bank and in hand | 54/58 | €91,830 | €343,483 | +€251,654 | +274.0% |
| Deferred charges and accrued income | 490/1 | €2,352,031 | €617,448 | -€1.7m | -73.7% |
| Total equity and liabilities | 10/49 | €42,058,517 | €33,642,327 | -€8.4m | -20.0% |
| Equity | 10/15 | €27,788,115 | €29,259,882 | +€1.5m | +5.3% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Reserves | 13 | €23,561,999 | €25,061,874 | +€1.5m | +6.4% |
| Non-distributable reserves | 130/1 | €400,000 | €400,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €400,000 | €400,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €999,875 | +€999,875 | |
| Distributable reserves | 133 | €23,161,999 | €23,661,999 | +€500,000 | +2.2% |
| Profit (loss) carried forward | 14 | €226,117 | €198,008 | -€28,108 | -12.4% |
| Amounts payable | 17/49 | €14,270,402 | €4,382,445 | -€9.9m | -69.3% |
| Amounts payable within one year | 42/48 | €14,218,101 | €4,329,781 | -€9.9m | -69.5% |
| Financial debts | 43 | €11,000,000 | €430,000 | -€10.6m | -96.1% |
| Credit institutions | 430/8 | €11,000,000 | €430,000 | -€10.6m | -96.1% |
| Trade debts | 44 | €1,868,849 | €1,340,214 | -€528,634 | -28.3% |
| Suppliers | 440/4 | €1,868,849 | €1,340,214 | -€528,634 | -28.3% |
| Advances received on contracts in progress | 46 | €14,655 | €56,987 | +€42,332 | +288.9% |
| Taxes, remuneration and social security | 45 | €462,934 | €486,997 | +€24,064 | +5.2% |
| Taxes | 450/3 | €368,812 | €370,686 | +€1,874 | +0.5% |
| Remuneration and social security | 454/9 | €94,122 | €116,311 | +€22,190 | +23.6% |
| Other amounts payable | 47/48 | €871,663 | €2,015,583 | +€1.1m | +131.2% |
| Accrued charges and deferred income | 492/3 | €52,302 | €52,663 | +€362 | +0.7% |
| Operating income | 70/76A | €9,326,153 | - | -€9.3m | |
| Turnover | 70 | €8,183,355 | - | -€8.2m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €944,632 | - | -€944,632 | |
| Other operating income | 74 | €198,165 | - | -€198,165 | |
| Operating charges | 60/66A | €7,950,521 | - | -€8.0m | |
| Goods for resale, raw materials and consumables | 60 | €6,521,496 | - | -€6.5m | |
| Purchases | 600/8 | €6,521,496 | - | -€6.5m | |
| Services and other goods | 61 | €546,731 | - | -€546,731 | |
| Remuneration, social security and pensions | 62 | €901,824 | €1,000,473 | +€98,650 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,091 | €159,408 | +€53,317 | +50.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€145,260 | - | +€145,260 | |
| Other operating charges | 640/8 | €19,640 | €30,949 | +€11,309 | +57.6% |
| Gross operating margin | 9900 | - | €2,772,329 | +€2.8m | |
| Operating profit (loss) | 9901 | €1,375,632 | €1,581,499 | +€205,868 | +15.0% |
| Financial income | 75/76B | €714,862 | €686,141 | -€28,721 | -4.0% |
| Recurring financial income | 75 | €714,862 | €686,141 | -€28,721 | -4.0% |
| Income from financial fixed assets | 750 | €12 | - | -€12 | |
| Income from current assets | 751 | €650,331 | - | -€650,331 | |
| Other financial income | 752/9 | €64,519 | - | -€64,519 | |
| Financial charges | 65/66B | €680,385 | €245,632 | -€434,753 | -63.9% |
| Recurring financial charges | 65 | €680,385 | €245,632 | -€434,753 | -63.9% |
| Debt charges | 650 | €680,385 | - | -€680,385 | |
| Profit (loss) for the period before taxes | 9903 | €1,410,109 | €2,022,009 | +€611,900 | +43.4% |
| Income taxes | 67/77 | €510,507 | €550,242 | +€39,735 | +7.8% |
| Taxes | 670/3 | €510,507 | - | -€510,507 | |
| Profit (loss) for the period | 9904 | €899,601 | €1,471,767 | +€572,165 | +63.6% |
| Transfer to tax-exempt reserves | 689 | - | €999,875 | +€999,875 | |
| Profit (loss) for the period to be appropriated | 9905 | €899,601 | €471,892 | -€427,710 | -47.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.