REALPOL: 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.
What changed
REALPOL
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€296,873
2024 · -€237,687-€59,185
Equity
-€1.1m
2024 · -€755,107-€296,873
Cash
€16,843
2024 · €64,665-€47,823
Balance sheet total
€9.1m
2024 · €9.3m-€231,023
Largest movements
Assets
- Tangible fixed assets -€186,269
down €186,269 (-2.0%), from €9.2m to €9.0m
Equity and liabilities
- Profit (loss) carried forward -€296,873
down €296,873 (-38.4%), from -€773,657 to -€1.1m
- Debts after one year +€286,500
up €286,500 (+3.1%), from €9.2m to €9.5m
- Current portion of long-term debt -€120,500
down €120,500 (-18.4%), from €654,000 to €533,500
- Trade debts -€100,225
down €100,225 (-60.7%), from €165,006 to €64,781
Income statement
- Financial charges +€93,402
up €93,402 (+57.5%), from €162,527 to €255,929
- Gross operating margin +€42,561
up €42,561 (+19.7%), from €215,781 to €258,342
- Depreciation +€5,044
up €5,044 (+1.7%), from €291,290 to €296,334
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.
Result 2024
-€237,687
Gross operating margin
+€42,561
Depreciation
-€5,044
Other operating charges
-€1,538
Financial income
-€1,762
Financial charges
-€93,402
Result 2025
-€296,873
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.
From operations
-€103,127
Investment
-€110,695
Financing
+€166,000
Cash 2024
€64,665
From operations (derived)
-€103,127
Net result for the year
-€296,873
Depreciation
+€296,334
Receivables within one year
+€2,014
Deferred charges and accrued income
-€4,453
Trade debts
-€100,225
Tax, wage and social debts
-€349
Other debts
+€2,366
Accrued charges and deferred income
-€1,942
Investment (derived)
-€110,695
Investment in fixed assets (net)
-€110,695
Financing
+€166,000
Debts after one year
+€286,500
Current portion of long-term debt
-€120,500
Cash 2025
€16,843
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,303,404 | €9,072,381 | -€231,023 | -2.5% |
| Fixed assets | 21/28 | €9,207,697 | €9,022,058 | -€185,639 | -2.0% |
| Tangible fixed assets | 22/27 | €9,207,697 | €9,021,428 | -€186,269 | -2.0% |
| Land and buildings | 22 | €9,207,697 | €9,021,428 | -€186,269 | -2.0% |
| Financial fixed assets | 28 | - | €630 | +€630 | |
| Current assets | 29/58 | €95,706 | €50,322 | -€45,384 | -47.4% |
| Amounts receivable within one year | 40/41 | €28,989 | €26,975 | -€2,014 | -6.9% |
| Trade receivables | 40 | €28,983 | €26,969 | -€2,014 | -6.9% |
| Other amounts receivable | 41 | €6 | €6 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,665 | €16,843 | -€47,823 | -74.0% |
| Deferred charges and accrued income | 490/1 | €2,052 | €6,505 | +€4,453 | +217.0% |
| Total equity and liabilities | 10/49 | €9,303,404 | €9,072,381 | -€231,023 | -2.5% |
| Equity | 10/15 | -€755,107 | -€1,051,979 | -€296,873 | -39.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€773,657 | -€1,070,529 | -€296,873 | -38.4% |
| Amounts payable | 17/49 | €10,058,510 | €10,124,360 | +€65,849 | +0.7% |
| Amounts payable after more than one year | 17 | €9,234,246 | €9,520,746 | +€286,500 | +3.1% |
| Financial debts | 170/4 | €9,234,246 | €9,520,746 | +€286,500 | +3.1% |
| Amounts payable within one year | 42/48 | €821,827 | €603,118 | -€218,709 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €654,000 | €533,500 | -€120,500 | -18.4% |
| Trade debts | 44 | €165,006 | €64,781 | -€100,225 | -60.7% |
| Suppliers | 440/4 | €165,006 | €64,781 | -€100,225 | -60.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,822 | €2,472 | -€349 | -12.4% |
| Taxes | 450/3 | €2,822 | €2,472 | -€349 | -12.4% |
| Other amounts payable | 47/48 | €0 | €2,366 | +€2,366 | |
| Accrued charges and deferred income | 492/3 | €2,437 | €495 | -€1,942 | -79.7% |
| Non-recurring operating income | 76A | €1,718 | €0 | -€1,718 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291,290 | €296,334 | +€5,044 | +1.7% |
| Other operating charges | 640/8 | €1,487 | €3,024 | +€1,538 | +103.5% |
| Gross operating margin | 9900 | €215,781 | €258,342 | +€42,561 | +19.7% |
| Operating profit (loss) | 9901 | -€76,995 | -€41,017 | +€35,979 | +46.7% |
| Financial income | 75/76B | €1,835 | €73 | -€1,762 | -96.0% |
| Recurring financial income | 75 | €1,835 | €73 | -€1,762 | -96.0% |
| Financial charges | 65/66B | €162,527 | €255,929 | +€93,402 | +57.5% |
| Recurring financial charges | 65 | €162,527 | €255,929 | +€93,402 | +57.5% |
| Profit (loss) for the period before taxes | 9903 | -€237,687 | -€296,873 | -€59,185 | -24.9% |
| Profit (loss) for the period | 9904 | -€237,687 | -€296,873 | -€59,185 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€237,687 | -€296,873 | -€59,185 | -24.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.