PROPEO: 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
PROPEO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€659,374
2024 · €691,204-€31,830
Equity
€2.2m
2024 · €1.5m+€659,374
Cash
€1.2m
2024 · €1.2m-€35,330
Balance sheet total
€23.6m
2024 · €24.0m-€378,329
Largest movements
Assets
- Tangible fixed assets -€547,446
down €547,446 (-2.4%), from €22.7m to €22.1m
of which Land and buildings: -€645,585
Equity and liabilities
- Debts after one year -€1.1m
down €1.1m (-5.3%), from €20.7m to €19.6m
- Profit (loss) carried forward +€659,374
up €659,374 (+50.8%), from €1.3m to €2.0m
Income statement
- Gross operating margin -€105,753
down €105,753 (-4.1%), from €2.6m to €2.5m
- Financial charges -€76,324
down €76,324 (-15.3%), from €497,691 to €421,367
- Financial income -€45,238
down €45,238 (-79.7%), from €56,789 to €11,550
- Taxes -€38,974
down €38,974 (-14.7%), from €264,977 to €226,002
- Depreciation -€32,356
down €32,356 (-4.5%), from €721,417 to €689,061
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
€691,204
Gross operating margin
-€105,753
Staff costs
-€21,048
Depreciation
+€32,356
Write-downs
-€4,367
Other operating charges
+€827
Other operating items
-€3,904
Financial income
-€45,238
Financial charges
+€76,324
Taxes
+€38,974
Result 2025
€659,374
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
+€1.2m
Investment
-€141,365
Financing
-€1.1m
Cash 2024
€1.2m
From operations (derived)
+€1.2m
Net result for the year
+€659,374
Depreciation
+€689,061
Smaller working-capital items
-€212
Receivables within one year
-€204,485
Trade debts
+€36,973
Tax, wage and social debts
+€3,532
Other debts
+€27,109
Accrued charges and deferred income
-€16,916
Investment (derived)
-€141,365
Investment in fixed assets (net)
-€141,365
Financing
-€1.1m
Debts after one year
-€1.1m
Current portion of long-term debt
+€11,195
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,984,364 | €23,606,034 | -€378,329 | -1.6% |
| Fixed assets | 21/28 | €22,697,227 | €22,149,531 | -€547,696 | -2.4% |
| Intangible fixed assets | 21 | €1,060 | €1,060 | = | 0.0% |
| Tangible fixed assets | 22/27 | €22,695,917 | €22,148,471 | -€547,446 | -2.4% |
| Land and buildings | 22 | €22,548,142 | €21,902,557 | -€645,585 | -2.9% |
| Furniture and vehicles | 24 | €141,275 | €239,414 | +€98,139 | +69.5% |
| Other tangible fixed assets | 26 | €6,500 | €6,500 | = | 0.0% |
| Financial fixed assets | 28 | €250 | - | -€250 | |
| Current assets | 29/58 | €1,287,137 | €1,456,503 | +€169,367 | +13.2% |
| Stocks and contracts in progress | 3 | €663 | - | -€663 | |
| Stocks | 30/36 | €663 | - | -€663 | |
| Amounts receivable within one year | 40/41 | €66,430 | €270,915 | +€204,485 | +308% |
| Trade receivables | 40 | €1,165 | €8,779 | +€7,614 | +654% |
| Other amounts receivable | 41 | €65,265 | €262,135 | +€196,870 | +302% |
| Cash at bank and in hand | 54/58 | €1,195,942 | €1,160,612 | -€35,330 | -3.0% |
| Deferred charges and accrued income | 490/1 | €24,102 | €24,977 | +€875 | +3.6% |
| Total equity and liabilities | 10/49 | €23,984,364 | €23,606,034 | -€378,329 | -1.6% |
| Equity | 10/15 | €1,491,410 | €2,150,785 | +€659,374 | +44.2% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €17,500 | €17,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,298,910 | €1,958,285 | +€659,374 | +50.8% |
| Amounts payable | 17/49 | €22,492,953 | €21,455,250 | -€1.0m | -4.6% |
| Amounts payable after more than one year | 17 | €20,717,344 | €19,617,747 | -€1.1m | -5.3% |
| Financial debts | 170/4 | €20,717,344 | €19,617,747 | -€1.1m | -5.3% |
| Amounts payable within one year | 42/48 | €1,707,328 | €1,786,137 | +€78,809 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €660,131 | €671,326 | +€11,195 | +1.7% |
| Trade debts | 44 | €203,926 | €240,898 | +€36,973 | +18.1% |
| Suppliers | 440/4 | €203,926 | €240,898 | +€36,973 | +18.1% |
| Taxes, remuneration and social security | 45 | €294,841 | €298,373 | +€3,532 | +1.2% |
| Taxes | 450/3 | €267,590 | €268,107 | +€517 | +0.2% |
| Remuneration and social security | 454/9 | €27,251 | €30,267 | +€3,015 | +11.1% |
| Other amounts payable | 47/48 | €548,430 | €575,539 | +€27,109 | +4.9% |
| Accrued charges and deferred income | 492/3 | €68,282 | €51,366 | -€16,916 | -24.8% |
| Non-recurring operating income | 76A | €59,411 | €0 | -€59,411 | -100.0% |
| Remuneration, social security and pensions | 62 | €258,198 | €279,246 | +€21,048 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €721,417 | €689,061 | -€32,356 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,367 | - | +€4,367 | |
| Other operating charges | 640/8 | €196,386 | €195,559 | -€827 | -0.4% |
| Non-recurring operating charges | 66A | €774 | €4,678 | +€3,904 | +504% |
| Gross operating margin | 9900 | €2,569,490 | €2,463,737 | -€105,753 | -4.1% |
| Operating profit (loss) | 9901 | €1,397,083 | €1,295,194 | -€101,890 | -7.3% |
| Financial income | 75/76B | €56,789 | €11,550 | -€45,238 | -79.7% |
| Recurring financial income | 75 | €56,789 | €11,550 | -€45,238 | -79.7% |
| Financial charges | 65/66B | €497,691 | €421,367 | -€76,324 | -15.3% |
| Recurring financial charges | 65 | €497,691 | €421,367 | -€76,324 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €956,181 | €885,377 | -€70,804 | -7.4% |
| Income taxes | 67/77 | €264,977 | €226,002 | -€38,974 | -14.7% |
| Profit (loss) for the period | 9904 | €691,204 | €659,374 | -€31,830 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €691,204 | €659,374 | -€31,830 | -4.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.