R-Estate: 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.
R-Estate
Largest movements
- Deferred charges and accrued income -€129,770
down €129,770 (-99.4%), from €130,617 to €847
- Receivables within one year +€77,932
up €77,932 (+162%), from €48,147 to €126,080
of which Trade receivables: +€85,588
- Tangible fixed assets -€5,292
down €5,292 (-38.3%), from €13,826 to €8,533
of which Furniture and vehicles: -€4,473
- Current investments -€5,026
no longer reported in 2025 (was €5,026)
- Cash -€4,472
down €4,472 (-59.2%), from €7,557 to €3,086
mainly Debts after one year (-€212,000) and Contributions, distributions and other (-€129,152)
- Debts after one year -€212,000
no longer reported in 2025 (was €212,000)
- Current portion of long-term debt +€212,000
new in 2025: €212,000
- Reserves -€125,736
no longer reported in 2025 (was €125,736)
- Other debts +€90,103
up €90,103 (+187%), from €48,176 to €138,278
- Trade debts -€28,881
down €28,881 (-99.5%), from €29,017 to €137
- Gross operating margin -€14,657
down €14,657 (-40.1%), from €36,562 to €21,906
- Financial charges -€7,275
down €7,275 (-39.5%), from €18,412 to €11,137
- Depreciation +€2,036
up €2,036 (+54.4%), from €3,742 to €5,777
- Other operating charges -€1,999
down €1,999 (-63.1%), from €3,166 to €1,167
- Taxes -€1,405
down €1,405 (-49.4%), from €2,844 to €1,439
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 | €440,972 | €373,859 | -€67,113 | -15.2% |
| Fixed assets | 21/28 | €27,633 | €21,855 | -€5,777 | -20.9% |
| Intangible fixed assets | 21 | €3,807 | €3,322 | -€485 | -12.7% |
| Tangible fixed assets | 22/27 | €13,826 | €8,533 | -€5,292 | -38.3% |
| Plant, machinery and equipment | 23 | €2,286 | €1,715 | -€572 | -25.0% |
| Furniture and vehicles | 24 | €10,795 | €6,323 | -€4,473 | -41.4% |
| Other tangible fixed assets | 26 | €744 | €496 | -€248 | -33.3% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €413,339 | €352,004 | -€61,335 | -14.8% |
| Stocks and contracts in progress | 3 | €221,992 | €221,992 | = | 0.0% |
| Stocks | 30/36 | €221,992 | €221,992 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,147 | €126,080 | +€77,932 | +162% |
| Trade receivables | 40 | €34,162 | €119,750 | +€85,588 | +251% |
| Other amounts receivable | 41 | €13,985 | €6,330 | -€7,656 | -54.7% |
| Current investments | 50/53 | €5,026 | - | -€5,026 | |
| Cash at bank and in hand | 54/58 | €7,557 | €3,086 | -€4,472 | -59.2% |
| Deferred charges and accrued income | 490/1 | €130,617 | €847 | -€129,770 | -99.4% |
| Total equity and liabilities | 10/49 | €440,972 | €373,859 | -€67,113 | -15.2% |
| Equity | 10/15 | €144,336 | €18,600 | -€125,736 | -87.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,736 | - | -€125,736 | |
| Distributable reserves | 133 | €125,736 | - | -€125,736 | |
| Amounts payable | 17/49 | €296,635 | €355,259 | +€58,624 | +19.8% |
| Amounts payable after more than one year | 17 | €212,000 | - | -€212,000 | |
| Financial debts | 170/4 | €212,000 | - | -€212,000 | |
| Amounts payable within one year | 42/48 | €82,664 | €353,595 | +€270,931 | +328% |
| Current portion of amounts payable after more than one year | 42 | - | €212,000 | +€212,000 | |
| Financial debts | 43 | €3,420 | - | -€3,420 | |
| Credit institutions | 430/8 | €3,420 | - | -€3,420 | |
| Trade debts | 44 | €29,017 | €137 | -€28,881 | -99.5% |
| Suppliers | 440/4 | €29,017 | €137 | -€28,881 | -99.5% |
| Taxes, remuneration and social security | 45 | €2,051 | €3,180 | +€1,129 | +55.1% |
| Taxes | 450/3 | €2,051 | €3,180 | +€1,129 | +55.1% |
| Other amounts payable | 47/48 | €48,176 | €138,278 | +€90,103 | +187% |
| Accrued charges and deferred income | 492/3 | €1,972 | €1,664 | -€308 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,742 | €5,777 | +€2,036 | +54.4% |
| Other operating charges | 640/8 | €3,166 | €1,167 | -€1,999 | -63.1% |
| Gross operating margin | 9900 | €36,562 | €21,906 | -€14,657 | -40.1% |
| Operating profit (loss) | 9901 | €29,654 | €14,961 | -€14,693 | -49.5% |
| Financial income | 75/76B | €88 | €1,030 | +€942 | +1,071% |
| Recurring financial income | 75 | €88 | €1,030 | +€942 | +1,071% |
| Financial charges | 65/66B | €18,412 | €11,137 | -€7,275 | -39.5% |
| Recurring financial charges | 65 | €18,412 | €11,137 | -€7,275 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €11,331 | €4,855 | -€6,476 | -57.2% |
| Income taxes | 67/77 | €2,844 | €1,439 | -€1,405 | -49.4% |
| Profit (loss) for the period | 9904 | €8,486 | €3,415 | -€5,071 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,486 | €3,415 | -€5,071 | -59.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.