PROPERTIES MANAGEMENT & CONSULTANCY: 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
PROPERTIES MANAGEMENT & CONSULTANCY
NACE 47.812, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.1m+€230,760
Equity
€15.9m
2024 · €14.6m+€1.4m
Cash
€86,996
2024 · €115,724-€28,728
Balance sheet total
€23.7m
2024 · €23.6m+€71,364
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-14.2%), from €7.6m to €6.5m
of which Land and buildings: -€1.0m
- Deferred charges and accrued income +€568,197
up €568,197 (+9,081%), from €6,257 to €574,454
- Receivables within one year +€448,603
up €448,603 (+3.3%), from €13.6m to €14.0m
of which Other amounts receivable: +€479,358
Equity and liabilities
- Debts after one year -€3.9m
down €3.9m (-49.5%), from €8.0m to €4.0m
of which Financial debts: -€3.9m
- Short-term financial debts +€1.5m
new in 2025: €1.5m
- Reserves +€1.2m
up €1.2m (+111%), from €1.1m to €2.3m
of which Tax-exempt reserves: +€1.2m
- Other debts +€809,064
new in 2025: €809,064
- Provisions +€398,470
up €398,470 (+127%), from €313,200 to €711,670
Income statement
- Gross operating margin +€122,218
up €122,218 (+6.3%), from €1.9m to €2.1m
- Depreciation -€91,174
down €91,174 (-30.7%), from €297,364 to €206,190
- Financial income +€79,114
up €79,114 (+59.8%), from €132,315 to €211,429
- Taxes -€48,910
down €48,910 (-64.3%), from €76,052 to €27,142
- Financial charges +€22,948
up €22,948 (+9.5%), from €242,793 to €265,741
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
€1.1m
Gross operating margin
+€122,218
Staff costs
-€136
Depreciation
+€91,174
Other operating charges
+€11,657
Other operating items
-€158
Financial income
+€79,114
Financial charges
-€22,948
Taxes
+€48,910
Deferred taxes and other
-€99,070
Result 2025
€1.4m
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
+€1.8m
Investment
+€710,517
Financing
-€2.6m
Cash 2024
€115,724
From operations (derived)
+€1.8m
Net result for the year
+€1.4m
Depreciation
+€206,190
Receivables within one year
-€448,603
Deferred charges and accrued income
-€568,197
Provisions
+€398,470
Trade debts
-€28,704
Tax, wage and social debts
-€46,566
Other debts
+€809,064
Accrued charges and deferred income
+€161,345
Investment (derived)
+€710,517
Investment in fixed assets (net)
+€869,330
Current investments
-€158,812
Financing
-€2.6m
Debts after one year
-€3.9m
Current portion of long-term debt
-€132,536
Short-term financial debts
+€1.5m
Cash 2025
€86,996
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,626,660 | €23,698,024 | +€71,364 | +0.3% |
| Fixed assets | 21/28 | €8,925,935 | €7,850,415 | -€1.1m | -12.0% |
| Intangible fixed assets | 21 | €305 | €0 | -€305 | -100% |
| Tangible fixed assets | 22/27 | €7,564,588 | €6,490,373 | -€1.1m | -14.2% |
| Land and buildings | 22 | €6,813,033 | €5,811,872 | -€1.0m | -14.7% |
| Plant, machinery and equipment | 23 | €679,272 | €678,501 | -€771 | -0.1% |
| Other tangible fixed assets | 26 | €72,282 | €0 | -€72,282 | -100% |
| Financial fixed assets | 28 | €1,361,042 | €1,360,042 | -€1,000 | -0.1% |
| Current assets | 29/58 | €14,700,725 | €15,847,609 | +€1.1m | +7.8% |
| Amounts receivable within one year | 40/41 | €13,564,660 | €14,013,263 | +€448,603 | +3.3% |
| Trade receivables | 40 | €30,755 | €0 | -€30,755 | -100% |
| Other amounts receivable | 41 | €13,533,905 | €14,013,263 | +€479,358 | +3.5% |
| Current investments | 50/53 | €1,014,084 | €1,172,896 | +€158,812 | +15.7% |
| Cash at bank and in hand | 54/58 | €115,724 | €86,996 | -€28,728 | -24.8% |
| Deferred charges and accrued income | 490/1 | €6,257 | €574,454 | +€568,197 | +9,081% |
| Total equity and liabilities | 10/49 | €23,626,660 | €23,698,024 | +€71,364 | +0.3% |
| Equity | 10/15 | €14,578,045 | €15,936,544 | +€1.4m | +9.3% |
| Contributions | 10/11 | €1,418,600 | €1,418,600 | = | 0.0% |
| Reserves | 13 | €1,081,460 | €2,276,871 | +€1.2m | +111% |
| Non-distributable reserves | 130/1 | €141,860 | €141,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €141,860 | €141,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €939,600 | €2,135,011 | +€1.2m | +127% |
| Profit (loss) carried forward | 14 | €12,077,985 | €12,241,072 | +€163,087 | +1.4% |
| Provisions and deferred taxes | 16 | €313,200 | €711,670 | +€398,470 | +127% |
| Deferred taxes | 168 | €313,200 | €711,670 | +€398,470 | +127% |
| Amounts payable | 17/49 | €8,735,415 | €7,049,810 | -€1.7m | -19.3% |
| Amounts payable after more than one year | 17 | €7,971,524 | €4,023,318 | -€3.9m | -49.5% |
| Financial debts | 170/4 | €7,869,213 | €3,934,922 | -€3.9m | -50.0% |
| Other amounts payable | 178/9 | €102,312 | €88,396 | -€13,916 | -13.6% |
| Amounts payable within one year | 42/48 | €763,891 | €2,865,148 | +€2.1m | +275% |
| Current portion of amounts payable after more than one year | 42 | €666,810 | €534,274 | -€132,536 | -19.9% |
| Financial debts | 43 | - | €1,500,000 | +€1.5m | |
| Credit institutions | 430/8 | - | €1,500,000 | +€1.5m | |
| Trade debts | 44 | €32,338 | €3,634 | -€28,704 | -88.8% |
| Suppliers | 440/4 | €32,338 | €3,634 | -€28,704 | -88.8% |
| Taxes, remuneration and social security | 45 | €64,742 | €18,176 | -€46,566 | -71.9% |
| Taxes | 450/3 | €64,742 | €18,176 | -€46,566 | -71.9% |
| Other amounts payable | 47/48 | - | €809,064 | +€809,064 | |
| Accrued charges and deferred income | 492/3 | - | €161,345 | +€161,345 | |
| Non-recurring operating income | 76A | €1,478,171 | €1,749,004 | +€270,833 | +18.3% |
| Remuneration, social security and pensions | 62 | - | €136 | +€136 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297,364 | €206,190 | -€91,174 | -30.7% |
| Other operating charges | 640/8 | €37,699 | €26,041 | -€11,657 | -30.9% |
| Non-recurring operating charges | 66A | - | €158 | +€158 | |
| Gross operating margin | 9900 | €1,948,731 | €2,070,949 | +€122,218 | +6.3% |
| Operating profit (loss) | 9901 | €1,613,668 | €1,838,423 | +€224,755 | +13.9% |
| Financial income | 75/76B | €132,315 | €211,429 | +€79,114 | +59.8% |
| Recurring financial income | 75 | €132,315 | €211,429 | +€79,114 | +59.8% |
| Financial charges | 65/66B | €242,793 | €265,741 | +€22,948 | +9.5% |
| Recurring financial charges | 65 | €242,793 | €265,741 | +€22,948 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €1,503,190 | €1,784,111 | +€280,921 | +18.7% |
| Transfer from deferred taxes | 780 | €600 | €37,676 | +€37,076 | +6,179% |
| Transfer to deferred taxes | 680 | €300,000 | €436,146 | +€136,146 | +45.4% |
| Income taxes | 67/77 | €76,052 | €27,142 | -€48,910 | -64.3% |
| Profit (loss) for the period | 9904 | €1,127,739 | €1,358,499 | +€230,760 | +20.5% |
| Transfer from tax-exempt reserves | 789 | €1,800 | €113,028 | +€111,228 | +6,179% |
| Transfer to tax-exempt reserves | 689 | €900,000 | €1,308,439 | +€408,439 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €229,539 | €163,087 | -€66,451 | -28.9% |
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 23 October 2026 via checked.be.