PROPERTY HOLDER GROUP: 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.
PROPERTY HOLDER GROUP
Largest movements
- Cash +€77,053
up €77,053 (+110%), from €70,259 to €147,312
mainly Net result for the year (+€211,252) and Depreciation (+€56,470)
- Tangible fixed assets -€68,576
down €68,576 (-7.1%), from €965,948 to €897,372
of which Land and buildings: -€55,193
- Receivables within one year +€27,537
up €27,537 (+43.9%), from €62,681 to €90,218
of which Other amounts receivable: +€30,733
- Reserves +€210,480
up €210,480 (+108%), from €195,550 to €406,030
of which Distributable reserves: +€199,000
- Short-term financial debts -€153,012
down €153,012 (-98.7%), from €155,106 to €2,093
- Debts after one year -€50,000
down €50,000 (-14.3%), from €350,000 to €300,000
- Tax, wage and social debts +€33,820
up €33,820 (+131%), from €25,741 to €59,561
of which Taxes: +€33,712
- Gross operating margin +€251,197
up €251,197 (+173%), from €145,132 to €396,329
- Taxes +€81,665
up €81,665 (+586%), from €13,929 to €95,594
- Financial charges -€7,735
down €7,735 (-45.8%), from €16,879 to €9,144
- Other operating charges -€6,487
down €6,487 (-27.2%), from €23,858 to €17,371
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,109,507 | €1,148,895 | +€39,388 | +3.6% |
| Fixed assets | 21/28 | €965,948 | €897,372 | -€68,576 | -7.1% |
| Tangible fixed assets | 22/27 | €965,948 | €897,372 | -€68,576 | -7.1% |
| Land and buildings | 22 | €926,683 | €871,490 | -€55,193 | -6.0% |
| Plant, machinery and equipment | 23 | €32,703 | €24,405 | -€8,297 | -25.4% |
| Furniture and vehicles | 24 | €6,563 | €1,477 | -€5,086 | -77.5% |
| Current assets | 29/58 | €143,559 | €251,523 | +€107,964 | +75.2% |
| Amounts receivable within one year | 40/41 | €62,681 | €90,218 | +€27,537 | +43.9% |
| Trade receivables | 40 | €3,375 | €180 | -€3,195 | -94.7% |
| Other amounts receivable | 41 | €59,305 | €90,038 | +€30,733 | +51.8% |
| Cash at bank and in hand | 54/58 | €70,259 | €147,312 | +€77,053 | +110% |
| Deferred charges and accrued income | 490/1 | €10,619 | €13,993 | +€3,374 | +31.8% |
| Total equity and liabilities | 10/49 | €1,109,507 | €1,148,895 | +€39,388 | +3.6% |
| Equity | 10/15 | €523,160 | €734,411 | +€211,252 | +40.4% |
| Contributions | 10/11 | €320,300 | €320,300 | = | 0.0% |
| Capital | 10 | €320,300 | €320,300 | = | 0.0% |
| Issued capital | 100 | €320,300 | €320,300 | = | 0.0% |
| Reserves | 13 | €195,550 | €406,030 | +€210,480 | +108% |
| Non-distributable reserves | 130/1 | €20,550 | €32,030 | +€11,480 | +55.9% |
| Legal reserve | 130 | €20,550 | €32,030 | +€11,480 | +55.9% |
| Distributable reserves | 133 | €175,000 | €374,000 | +€199,000 | +114% |
| Profit (loss) carried forward | 14 | €7,310 | €8,081 | +€772 | +10.6% |
| Amounts payable | 17/49 | €586,348 | €414,484 | -€171,864 | -29.3% |
| Amounts payable after more than one year | 17 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Financial debts | 170/4 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Amounts payable within one year | 42/48 | €233,955 | €114,484 | -€119,471 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 43 | €155,106 | €2,093 | -€153,012 | -98.7% |
| Credit institutions | 430/8 | €155,106 | €2,093 | -€153,012 | -98.7% |
| Trade debts | 44 | €3,109 | €2,830 | -€279 | -9.0% |
| Suppliers | 440/4 | €3,109 | €2,830 | -€279 | -9.0% |
| Taxes, remuneration and social security | 45 | €25,741 | €59,561 | +€33,820 | +131% |
| Taxes | 450/3 | €25,741 | €59,452 | +€33,712 | +131% |
| Remuneration and social security | 454/9 | - | €109 | +€109 | |
| Accrued charges and deferred income | 492/3 | €2,393 | - | -€2,393 | |
| Non-recurring operating income | 76A | - | €237,916 | +€237,916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,035 | €56,470 | -€564 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,333 | €7,000 | +€2,667 | +61.5% |
| Other operating charges | 640/8 | €23,858 | €17,371 | -€6,487 | -27.2% |
| Non-recurring operating charges | 66A | €124 | - | -€124 | |
| Gross operating margin | 9900 | €145,132 | €396,329 | +€251,197 | +173% |
| Operating profit (loss) | 9901 | €59,782 | €315,488 | +€255,706 | +428% |
| Financial income | 75/76B | - | €502 | +€502 | |
| Recurring financial income | 75 | - | €502 | +€502 | |
| Financial charges | 65/66B | €16,879 | €9,144 | -€7,735 | -45.8% |
| Recurring financial charges | 65 | €16,879 | €9,144 | -€7,735 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €42,903 | €306,845 | +€263,942 | +615% |
| Income taxes | 67/77 | €13,929 | €95,594 | +€81,665 | +586% |
| Profit (loss) for the period | 9904 | €28,975 | €211,252 | +€182,277 | +629% |
| Profit (loss) for the period to be appropriated | 9905 | €28,975 | €211,252 | +€182,277 | +629% |
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 18 October 2026 via checked.be.