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
- Tangible fixed assets +€1.6m
up €1.6m (+271%), from €605,183 to €2.2m
of which Land and buildings: +€1.5m
- Cash -€149,632
down €149,632 (-48.4%), from €309,430 to €159,798
mainly Investment in fixed assets (net) (-€1.7m) and Trade debts (-€250,540)
- Other debts +€1.8m
up €1.8m (+314%), from €572,339 to €2.4m
- Trade debts -€250,540
down €250,540 (-99.8%), from €250,918 to €377
- Profit (loss) carried forward -€82,223
down €82,223 (-136%), from -€60,315 to -€142,539
- Accrued charges and deferred income +€37,163
up €37,163 (+2,495%), from €1,490 to €38,652
- Financial charges +€37,369
up €37,369 (+1,093%), from €3,419 to €40,788
- Depreciation +€17,864
up €17,864 (+203%), from €8,784 to €26,648
- Gross operating margin -€2,979
down €2,979 (-36.3%), from -€8,211 to -€11,191
- Other operating charges +€2,964
up €2,964 (+468%), from €633 to €3,597
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 | €926,040 | €2,417,964 | +€1.5m | +161% |
| Fixed assets | 21/28 | €606,406 | €2,245,239 | +€1.6m | +270% |
| Tangible fixed assets | 22/27 | €605,183 | €2,244,016 | +€1.6m | +271% |
| Land and buildings | 22 | €605,183 | €2,135,216 | +€1.5m | +253% |
| Plant, machinery and equipment | 23 | - | €108,800 | +€108,800 | |
| Financial fixed assets | 28 | €1,223 | €1,223 | = | 0.0% |
| Current assets | 29/58 | €319,635 | €172,725 | -€146,910 | -46.0% |
| Amounts receivable within one year | 40/41 | €8,925 | €10,710 | +€1,785 | +20.0% |
| Other amounts receivable | 41 | €8,925 | €10,710 | +€1,785 | +20.0% |
| Cash at bank and in hand | 54/58 | €309,430 | €159,798 | -€149,632 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,280 | €2,217 | +€937 | +73.2% |
| Total equity and liabilities | 10/49 | €926,040 | €2,417,964 | +€1.5m | +161% |
| Equity | 10/15 | -€41,715 | -€123,939 | -€82,223 | -197% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,315 | -€142,539 | -€82,223 | -136% |
| Amounts payable | 17/49 | €967,756 | €2,541,903 | +€1.6m | +163% |
| Amounts payable after more than one year | 17 | €130,534 | €117,874 | -€12,660 | -9.7% |
| Financial debts | 170/4 | €130,534 | €117,874 | -€12,660 | -9.7% |
| Amounts payable within one year | 42/48 | €835,732 | €2,385,376 | +€1.5m | +185% |
| Current portion of amounts payable after more than one year | 42 | €12,475 | €12,660 | +€185 | +1.5% |
| Trade debts | 44 | €250,918 | €377 | -€250,540 | -99.8% |
| Suppliers | 440/4 | €250,918 | €377 | -€250,540 | -99.8% |
| Other amounts payable | 47/48 | €572,339 | €2,372,339 | +€1.8m | +314% |
| Accrued charges and deferred income | 492/3 | €1,490 | €38,652 | +€37,163 | +2,495% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,784 | €26,648 | +€17,864 | +203% |
| Other operating charges | 640/8 | €633 | €3,597 | +€2,964 | +468% |
| Gross operating margin | 9900 | -€8,211 | -€11,191 | -€2,979 | -36.3% |
| Operating profit (loss) | 9901 | -€17,628 | -€41,436 | -€23,807 | -135% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,419 | €40,788 | +€37,369 | +1,093% |
| Recurring financial charges | 65 | €3,419 | €40,788 | +€37,369 | +1,093% |
| Profit (loss) for the period before taxes | 9903 | -€21,047 | -€82,223 | -€61,177 | -291% |
| Profit (loss) for the period | 9904 | -€21,047 | -€82,223 | -€61,177 | -291% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,047 | -€82,223 | -€61,177 | -291% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.