Prologis Belgium XI: what changed
What changed
Prologis Belgium XI
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€253,355
2024 · €148,729+€104,625
Equity
€2.0m
2024 · €2.1m-€146,645
Cash
€620,765
2024 · €193,695+€427,071
Balance sheet total
€4.6m
2024 · €4.4m+€221,750
Largest movements
Assets
- Cash +€427,071
up €427,071 (+220%), from €193,695 to €620,765
mainly Current portion of long-term debt (+€2.0m) and Other debts (+€400,000)
- Tangible fixed assets -€143,335
down €143,335 (-3.8%), from €3.8m to €3.7m
of which Land and buildings: -€175,812
- Receivables within one year -€66,239
down €66,239 (-17.2%), from €386,033 to €319,794
of which Trade receivables: -€50,846
Equity and liabilities
- Current portion of long-term debt +€2.0m
new in 2025: €2.0m
- Debts after one year -€2.0m
down €2.0m (-100%), from €2.0m to €0
- Other debts +€400,000
up €400,000, from €0 to €400,000
- Profit (loss) carried forward -€146,645
down €146,645 (-16.6%), from €882,111 to €735,466
Income statement
- Gross operating margin +€135,706
up €135,706 (+27.7%), from €489,835 to €625,541
- Taxes +€29,723
up €29,723 (+55.4%), from €53,691 to €83,414
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
€148,729
Gross operating margin
+€135,706
Depreciation
+€2,626
Other operating charges
-€2,575
Financial income
-€1,255
Financial charges
-€153
Taxes
-€29,723
Result 2025
€253,355
raises the resultlowers the result
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
+€896,151
Investment
-€69,107
Financing
-€399,973
Cash 2024
€193,695
From operations (derived)
+€896,151
Net result for the year
+€253,355
Depreciation
+€212,443
Receivables within one year
+€66,239
Smaller working-capital items
-€4,086
Tax, wage and social debts
-€24,144
Other debts
+€400,000
Accrued charges and deferred income
-€7,655
Investment (derived)
-€69,107
Investment in fixed assets (net)
-€69,107
Financing
-€399,973
Debts after one year
-€2.0m
Current portion of long-term debt
+€2.0m
Contributions, distributions and other
-€400,000
Cash 2025
€620,765
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,414,697 | €4,636,447 | +€221,750 | +5.0% |
| Fixed assets | 21/28 | €3,803,570 | €3,660,235 | -€143,335 | -3.8% |
| Tangible fixed assets | 22/27 | €3,803,570 | €3,660,235 | -€143,335 | -3.8% |
| Land and buildings | 22 | €3,802,663 | €3,626,851 | -€175,812 | -4.6% |
| Plant, machinery and equipment | 23 | €907 | €33,384 | +€32,477 | +3,582% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €611,128 | €976,213 | +€365,085 | +59.7% |
| Amounts receivable within one year | 40/41 | €386,033 | €319,794 | -€66,239 | -17.2% |
| Trade receivables | 40 | €315,140 | €264,294 | -€50,846 | -16.1% |
| Other amounts receivable | 41 | €70,892 | €55,500 | -€15,393 | -21.7% |
| Cash at bank and in hand | 54/58 | €193,695 | €620,765 | +€427,071 | +220% |
| Deferred charges and accrued income | 490/1 | €31,400 | €35,654 | +€4,254 | +13.5% |
| Total equity and liabilities | 10/49 | €4,414,697 | €4,636,447 | +€221,750 | +5.0% |
| Equity | 10/15 | €2,142,034 | €1,995,389 | -€146,645 | -6.8% |
| Contributions | 10/11 | €1,259,923 | €1,259,923 | = | 0.0% |
| Profit (loss) carried forward | 14 | €882,111 | €735,466 | -€146,645 | -16.6% |
| Amounts payable | 17/49 | €2,272,664 | €2,641,059 | +€368,395 | +16.2% |
| Amounts payable after more than one year | 17 | €2,004,968 | €0 | -€2.0m | -100% |
| Financial debts | 170/4 | €2,004,968 | €0 | -€2.0m | -100% |
| Amounts payable within one year | 42/48 | €73,533 | €2,454,552 | +€2.4m | +3,238% |
| Current portion of amounts payable after more than one year | 42 | - | €2,004,995 | +€2.0m | |
| Trade debts | 44 | €32,073 | €32,240 | +€167 | +0.5% |
| Suppliers | 440/4 | €32,073 | €32,240 | +€167 | +0.5% |
| Taxes, remuneration and social security | 45 | €41,461 | €17,317 | -€24,144 | -58.2% |
| Taxes | 450/3 | €41,461 | €17,317 | -€24,144 | -58.2% |
| Other amounts payable | 47/48 | €0 | €400,000 | +€400,000 | |
| Accrued charges and deferred income | 492/3 | €194,162 | €186,507 | -€7,655 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215,068 | €212,443 | -€2,626 | -1.2% |
| Other operating charges | 640/8 | €53,717 | €56,292 | +€2,575 | +4.8% |
| Gross operating margin | 9900 | €489,835 | €625,541 | +€135,706 | +27.7% |
| Operating profit (loss) | 9901 | €221,050 | €356,806 | +€135,756 | +61.4% |
| Financial income | 75/76B | €18,501 | €17,246 | -€1,255 | -6.8% |
| Recurring financial income | 75 | €18,501 | €17,246 | -€1,255 | -6.8% |
| Financial charges | 65/66B | €37,131 | €37,283 | +€153 | +0.4% |
| Recurring financial charges | 65 | €37,131 | €37,283 | +€153 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €202,421 | €336,769 | +€134,348 | +66.4% |
| Income taxes | 67/77 | €53,691 | €83,414 | +€29,723 | +55.4% |
| Profit (loss) for the period | 9904 | €148,729 | €253,355 | +€104,625 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €148,729 | €253,355 | +€104,625 | +70.3% |
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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 8 November 2026 via checked.be.