Realest: what changed
Two fiscal 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.
Realest
Largest movements
- Stocks and contracts -€825,000
down €825,000 (-82.5%), from €999,664 to €174,664
- Tangible fixed assets +€728,910
up €728,910 (+9.4%), from €7.7m to €8.5m
of which Land and buildings: +€705,017
- Profit (loss) carried forward -€521,675
down €521,675 (-24.3%), from -€2.1m to -€2.7m
- Debts after one year +€450,000
up €450,000 (+6.7%), from €6.7m to €7.2m
of which Financial debts: +€450,000
- Financial charges +€42,282
up €42,282 (+15.7%), from €268,878 to €311,160
- Write-downs -€39,332
down €39,332, from €19,666 to -€19,666
- Gross operating margin +€26,270
up €26,270 (+316.2%), from €8,309 to €34,579
- Depreciation +€4,503
up €4,503 (+2.2%), from €207,938 to €212,441
- Other operating charges -€3,906
down €3,906 (-6.9%), from €56,300 to €52,394
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 | €8,769,840 | €8,681,155 | -€88,685 | -1.0% |
| Fixed assets | 21/28 | €7,737,726 | €8,466,636 | +€728,910 | +9.4% |
| Tangible fixed assets | 22/27 | €7,737,726 | €8,466,636 | +€728,910 | +9.4% |
| Land and buildings | 22 | €7,730,443 | €8,435,460 | +€705,017 | +9.1% |
| Furniture and vehicles | 24 | €7,283 | €31,176 | +€23,893 | +328.1% |
| Current assets | 29/58 | €1,032,114 | €214,519 | -€817,595 | -79.2% |
| Stocks and contracts in progress | 3 | €999,664 | €174,664 | -€825,000 | -82.5% |
| Stocks | 30/36 | €999,664 | €174,664 | -€825,000 | -82.5% |
| Amounts receivable within one year | 40/41 | €6,775 | €22,141 | +€15,366 | +226.8% |
| Trade receivables | 40 | €6,775 | €22,141 | +€15,366 | +226.8% |
| Cash at bank and in hand | 54/58 | €25,675 | €10,536 | -€15,139 | -59.0% |
| Deferred charges and accrued income | 490/1 | - | €7,178 | +€7,178 | |
| Total equity and liabilities | 10/49 | €8,769,840 | €8,681,155 | -€88,685 | -1.0% |
| Equity | 10/15 | €1,989,180 | €1,467,505 | -€521,675 | -26.2% |
| Contributions | 10/11 | €3,650,000 | €3,650,000 | = | 0.0% |
| Capital | 10 | €3,650,000 | €3,650,000 | = | 0.0% |
| Issued capital | 100 | €3,650,000 | €3,650,000 | = | 0.0% |
| Revaluation surpluses | 12 | €118,989 | €118,989 | = | 0.0% |
| Reserves | 13 | €365,000 | €365,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €365,000 | €365,000 | = | 0.0% |
| Legal reserve | 130 | €365,000 | €365,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,144,809 | -€2,666,484 | -€521,675 | -24.3% |
| Amounts payable | 17/49 | €6,780,660 | €7,213,650 | +€432,990 | +6.4% |
| Amounts payable after more than one year | 17 | €6,725,500 | €7,175,500 | +€450,000 | +6.7% |
| Financial debts | 170/4 | €6,725,000 | €7,175,000 | +€450,000 | +6.7% |
| Other amounts payable | 178/9 | €500 | €500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,320 | €30,810 | -€16,510 | -34.9% |
| Trade debts | 44 | €29,160 | €29,845 | +€685 | +2.3% |
| Suppliers | 440/4 | €29,160 | €29,845 | +€685 | +2.3% |
| Taxes, remuneration and social security | 45 | €2,160 | €965 | -€1,195 | -55.3% |
| Taxes | 450/3 | €2,160 | €965 | -€1,195 | -55.3% |
| Other amounts payable | 47/48 | €16,000 | - | -€16,000 | |
| Accrued charges and deferred income | 492/3 | €7,840 | €7,340 | -€500 | -6.4% |
| Non-recurring operating income | 76A | €24,151 | - | -€24,151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,938 | €212,441 | +€4,503 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,666 | -€19,666 | -€39,332 | |
| Other operating charges | 640/8 | €56,300 | €52,394 | -€3,906 | -6.9% |
| Non-recurring operating charges | 66A | €4,080 | - | -€4,080 | |
| Gross operating margin | 9900 | €8,309 | €34,579 | +€26,270 | +316.2% |
| Operating profit (loss) | 9901 | -€279,675 | -€210,590 | +€69,085 | +24.7% |
| Financial income | 75/76B | - | €75 | +€75 | |
| Recurring financial income | 75 | - | €75 | +€75 | |
| Financial charges | 65/66B | €268,878 | €311,160 | +€42,282 | +15.7% |
| Recurring financial charges | 65 | €268,878 | €311,160 | +€42,282 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | -€548,553 | -€521,675 | +€26,878 | +4.9% |
| Profit (loss) for the period | 9904 | -€548,553 | -€521,675 | +€26,878 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€548,553 | -€521,675 | +€26,878 | +4.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.