RAC 1: 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
RAC 1
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€4.0m
2023 · €1.7m+€2.3m
Equity
€3.3m
2023 · €265,018+€3.0m
Cash
€16.8m
2023 · €23.0m-€6.2m
Balance sheet total
€146.8m
2023 · €158.1m-€11.3m
Largest movements
Assets
- Cash -€6.2m
down €6.2m (-27.0%), from €23.0m to €16.8m
mainly Other debts (-€7.2m) and Trade debts (-€5.7m)
- Tangible fixed assets -€6.0m
down €6.0m (-4.5%), from €134.1m to €128.1m
of which Land and buildings: -€6.2m
Equity and liabilities
- Other debts -€7.2m
down €7.2m (-87.8%), from €8.2m to €1.0m
- Trade debts -€5.7m
down €5.7m (-94.2%), from €6.0m to €350,134
- Profit (loss) carried forward +€3.0m
up €3.0m, from €0 to €3.0m
Income statement
- Turnover +€5.5m
up €5.5m (+35.6%), from €15.4m to €20.9m
- Financial charges +€2.1m
up €2.1m (+39.7%), from €5.3m to €7.4m
- Taxes +€886,939
up €886,939 (+115%), from €773,656 to €1.7m
of which Taxes: +€885,970
- Services and other goods +€473,090
up €473,090 (+52.7%), from €898,400 to €1.4m
- Depreciation -€291,878
down €291,878 (-4.3%), from €6.8m to €6.5m
From the 2023 result to the 2024 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 2023
€1.7m
Turnover
+€5.5m
Other operating income
+€220,853
Services and other goods
-€473,090
Depreciation
+€291,878
Other operating charges
-€191,475
Financial charges
-€2.1m
Taxes
-€886,939
Result 2024
€4.0m
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€3.4m
Investment
-€297,000
Financing
-€2.5m
Cash 2023
€23.0m
From operations (derived)
-€3.4m
Net result for the year
+€4.0m
Depreciation
+€6.5m
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€309
Trade debts
-€5.7m
Tax, wage and social debts
+€925,971
Other debts
-€7.2m
Accrued charges and deferred income
-€851,519
Investment (derived)
-€297,000
Investment in fixed assets (net)
-€297,000
Financing
-€2.5m
Debts after one year
-€1.5m
Contributions, distributions and other
-€1.0m
Cash 2024
€16.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,051,965 | €146,770,899 | -€11.3m | -7.1% |
| Formation expenses | 20 | €684,000 | €547,200 | -€136,800 | -20.0% |
| Fixed assets | 21/28 | €134,113,168 | €128,083,859 | -€6.0m | -4.5% |
| Tangible fixed assets | 22/27 | €134,113,168 | €128,083,859 | -€6.0m | -4.5% |
| Land and buildings | 22 | €133,407,574 | €127,225,956 | -€6.2m | -4.6% |
| Plant, machinery and equipment | 23 | €705,595 | €857,903 | +€152,308 | +21.6% |
| Current assets | 29/58 | €23,254,797 | €18,139,841 | -€5.1m | -22.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €258,545 | €1,359,141 | +€1.1m | +426% |
| Trade receivables | 40 | €83,169 | €1,083,766 | +€1.0m | +1,203% |
| Other amounts receivable | 41 | €175,375 | €275,375 | +€100,000 | +57.0% |
| Cash at bank and in hand | 54/58 | €22,995,147 | €16,779,285 | -€6.2m | -27.0% |
| Deferred charges and accrued income | 490/1 | €1,106 | €1,414 | +€309 | +27.9% |
| Total equity and liabilities | 10/49 | €158,051,965 | €146,770,899 | -€11.3m | -7.1% |
| Equity | 10/15 | €265,018 | €3,298,029 | +€3.0m | +1,144% |
| Contributions | 10/11 | €265,018 | €265,018 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €3,033,011 | +€3.0m | |
| Amounts payable | 17/49 | €157,786,947 | €143,472,870 | -€14.3m | -9.1% |
| Amounts payable after more than one year | 17 | €135,660,000 | €134,140,000 | -€1.5m | -1.1% |
| Financial debts | 170/4 | €135,660,000 | €134,140,000 | -€1.5m | -1.1% |
| Credit institutions | 173 | €135,660,000 | €134,140,000 | -€1.5m | -1.1% |
| Amounts payable within one year | 42/48 | €15,755,413 | €3,812,854 | -€11.9m | -75.8% |
| Current portion of amounts payable after more than one year | 42 | €1,520,000 | €1,520,000 | = | 0.0% |
| Trade debts | 44 | €6,008,178 | €350,134 | -€5.7m | -94.2% |
| Suppliers | 440/4 | €6,008,178 | €350,134 | -€5.7m | -94.2% |
| Taxes, remuneration and social security | 45 | €16,749 | €942,720 | +€925,971 | +5,528% |
| Taxes | 450/3 | €16,749 | €942,720 | +€925,971 | +5,528% |
| Other amounts payable | 47/48 | €8,210,486 | €1,000,000 | -€7.2m | -87.8% |
| Accrued charges and deferred income | 492/3 | €6,371,534 | €5,520,015 | -€851,519 | -13.4% |
| Operating income | 70/76A | €19,790,692 | €25,502,614 | +€5.7m | +28.9% |
| Turnover | 70 | €15,423,985 | €20,915,054 | +€5.5m | +35.6% |
| Other operating income | 74 | €4,366,707 | €4,587,560 | +€220,853 | +5.1% |
| Operating charges | 60/66A | €11,999,447 | €12,372,134 | +€372,687 | +3.1% |
| Services and other goods | 61 | €898,400 | €1,371,490 | +€473,090 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,754,988 | €6,463,109 | -€291,878 | -4.3% |
| Other operating charges | 640/8 | €4,346,059 | €4,537,534 | +€191,475 | +4.4% |
| Operating profit (loss) | 9901 | €7,791,245 | €13,130,481 | +€5.3m | +68.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Other financial income | 752/9 | €0 | - | = | |
| Financial charges | 65/66B | €5,323,451 | €7,436,875 | +€2.1m | +39.7% |
| Recurring financial charges | 65 | €5,323,451 | €7,436,875 | +€2.1m | +39.7% |
| Debt charges | 650 | €5,314,640 | €7,426,584 | +€2.1m | +39.7% |
| Other financial charges | 652/9 | €8,811 | €10,291 | +€1,480 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €2,467,794 | €5,693,606 | +€3.2m | +131% |
| Income taxes | 67/77 | €773,656 | €1,660,595 | +€886,939 | +115% |
| Taxes | 670/3 | €774,625 | €1,660,595 | +€885,970 | +114% |
| Tax adjustments and reversals of tax provisions | 77 | €969 | €0 | -€969 | -100% |
| Profit (loss) for the period | 9904 | €1,694,137 | €4,033,011 | +€2.3m | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €1,694,137 | €4,033,011 | +€2.3m | +138% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.