REAL ESTATE EXECUTE: 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 EXECUTE
Largest movements
- Stocks and contracts +€42,858
up €42,858 (+1.1%), from €3.9m to €3.9m
- Receivables within one year -€41,905
down €41,905 (-95.0%), from €44,121 to €2,216
of which Trade receivables: -€42,831
- Other debts +€216,823
up €216,823 (+23.8%), from €912,361 to €1.1m
- Advances received -€205,388
down €205,388 (-6.6%), from €3.1m to €2.9m
- Gross operating margin -€7,110
down €7,110 (-75.3%), from -€9,444 to -€16,554
- Financial charges -€7,092
down €7,092 (-98.3%), from €7,213 to €121
- Financial income -€798
down €798 (-75.3%), from €1,059 to €261
- Other operating charges +€181
up €181 (+14.0%), from €1,287 to €1,468
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.
Cash bridge derived
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 | €3,958,083 | €3,990,593 | +€32,511 | +0.8% |
| Current assets | 29/58 | €3,958,083 | €3,990,593 | +€32,511 | +0.8% |
| Stocks and contracts in progress | 3 | €3,879,791 | €3,922,649 | +€42,858 | +1.1% |
| Stocks | 30/36 | €3,879,791 | €3,922,649 | +€42,858 | +1.1% |
| Amounts receivable within one year | 40/41 | €44,121 | €2,216 | -€41,905 | -95.0% |
| Trade receivables | 40 | €42,831 | - | -€42,831 | |
| Other amounts receivable | 41 | €1,290 | €2,216 | +€926 | +71.8% |
| Cash at bank and in hand | 54/58 | €32,115 | €64,894 | +€32,779 | +102.1% |
| Deferred charges and accrued income | 490/1 | €2,056 | €834 | -€1,222 | -59.4% |
| Total equity and liabilities | 10/49 | €3,958,083 | €3,990,593 | +€32,511 | +0.8% |
| Equity | 10/15 | -€89,191 | -€107,074 | -€17,882 | -20.0% |
| Contributions | 10/11 | €42,000 | €42,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,191 | -€149,074 | -€17,882 | -13.6% |
| Amounts payable | 17/49 | €4,047,274 | €4,097,667 | +€50,393 | +1.2% |
| Amounts payable within one year | 42/48 | €4,047,274 | €4,097,667 | +€50,393 | +1.2% |
| Trade debts | 44 | €45,725 | €80,866 | +€35,141 | +76.9% |
| Suppliers | 440/4 | €45,725 | €80,866 | +€35,141 | +76.9% |
| Advances received on contracts in progress | 46 | €3,089,188 | €2,883,800 | -€205,388 | -6.6% |
| Taxes, remuneration and social security | 45 | - | €3,817 | +€3,817 | |
| Taxes | 450/3 | - | €3,817 | +€3,817 | |
| Other amounts payable | 47/48 | €912,361 | €1,129,184 | +€216,823 | +23.8% |
| Other operating charges | 640/8 | €1,287 | €1,468 | +€181 | +14.0% |
| Gross operating margin | 9900 | -€9,444 | -€16,554 | -€7,110 | -75.3% |
| Operating profit (loss) | 9901 | -€10,731 | -€18,022 | -€7,291 | -67.9% |
| Financial income | 75/76B | €1,059 | €261 | -€798 | -75.3% |
| Recurring financial income | 75 | €1,059 | €261 | -€798 | -75.3% |
| Financial charges | 65/66B | €7,213 | €121 | -€7,092 | -98.3% |
| Recurring financial charges | 65 | €7,213 | €121 | -€7,092 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,886 | -€17,882 | -€996 | -5.9% |
| Profit (loss) for the period | 9904 | -€16,886 | -€17,882 | -€996 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,886 | -€17,882 | -€996 | -5.9% |
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 10 October 2026 via checked.be.