REAL ESTATE DEVELOPMENT CAT: 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.
REAL ESTATE DEVELOPMENT CAT
Largest movements
- Cash +€11,319
up €11,319 (+92.4%), from €12,247 to €23,566
mainly Net result for the year (+€12,445) and Depreciation (+€9,181)
- Tangible fixed assets -€9,181
down €9,181 (-3.7%), from €246,999 to €237,819
of which Land and buildings: -€7,874
- Reserves +€12,445
up €12,445 (+40.1%), from €31,021 to €43,466
of which Distributable reserves: +€12,445
- Debts after one year -€12,383
down €12,383 (-6.5%), from €190,687 to €178,304
- Gross operating margin +€4,318
up €4,318 (+15.0%), from €28,756 to €33,075
- Taxes +€1,293
up €1,293 (+27.5%), from €4,698 to €5,990
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 | €268,584 | €271,239 | +€2,655 | +1.0% |
| Fixed assets | 21/28 | €246,999 | €237,819 | -€9,181 | -3.7% |
| Tangible fixed assets | 22/27 | €246,999 | €237,819 | -€9,181 | -3.7% |
| Land and buildings | 22 | €244,386 | €236,512 | -€7,874 | -3.2% |
| Plant, machinery and equipment | 23 | €2,613 | €1,307 | -€1,307 | -50.0% |
| Current assets | 29/58 | €21,585 | €33,421 | +€11,836 | +54.8% |
| Amounts receivable within one year | 40/41 | €9,255 | €9,771 | +€516 | +5.6% |
| Other amounts receivable | 41 | €9,255 | €9,771 | +€516 | +5.6% |
| Cash at bank and in hand | 54/58 | €12,247 | €23,566 | +€11,319 | +92.4% |
| Deferred charges and accrued income | 490/1 | €83 | €84 | +€1 | +1.6% |
| Total equity and liabilities | 10/49 | €268,584 | €271,239 | +€2,655 | +1.0% |
| Equity | 10/15 | €60,089 | €72,534 | +€12,445 | +20.7% |
| Contributions | 10/11 | €6,640 | €6,640 | = | 0.0% |
| Reserves | 13 | €31,021 | €43,466 | +€12,445 | +40.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,161 | €41,606 | +€12,445 | +42.7% |
| Profit (loss) carried forward | 14 | €22,428 | €22,428 | = | 0.0% |
| Amounts payable | 17/49 | €208,495 | €198,705 | -€9,790 | -4.7% |
| Amounts payable after more than one year | 17 | €190,687 | €178,304 | -€12,383 | -6.5% |
| Financial debts | 170/4 | €190,687 | €178,304 | -€12,383 | -6.5% |
| Amounts payable within one year | 42/48 | €17,808 | €20,002 | +€2,194 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €12,206 | €12,383 | +€177 | +1.4% |
| Trade debts | 44 | €73 | €220 | +€147 | +201% |
| Suppliers | 440/4 | €73 | €220 | +€147 | +201% |
| Taxes, remuneration and social security | 45 | €5,295 | €7,165 | +€1,870 | +35.3% |
| Taxes | 450/3 | €5,295 | €7,165 | +€1,870 | +35.3% |
| Other amounts payable | 47/48 | €233 | €233 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,181 | €9,181 | = | 0.0% |
| Other operating charges | 640/8 | €2,532 | €2,825 | +€293 | +11.6% |
| Gross operating margin | 9900 | €28,756 | €33,075 | +€4,318 | +15.0% |
| Operating profit (loss) | 9901 | €17,043 | €21,068 | +€4,025 | +23.6% |
| Financial income | 75/76B | €421 | €601 | +€180 | +42.8% |
| Recurring financial income | 75 | €421 | €601 | +€180 | +42.8% |
| Financial charges | 65/66B | €3,324 | €3,234 | -€90 | -2.7% |
| Recurring financial charges | 65 | €3,324 | €3,234 | -€90 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €14,140 | €18,436 | +€4,295 | +30.4% |
| Income taxes | 67/77 | €4,698 | €5,990 | +€1,293 | +27.5% |
| Profit (loss) for the period | 9904 | €9,443 | €12,445 | +€3,002 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,443 | €12,445 | +€3,002 | +31.8% |
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.