Rebels in Property: 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.
Rebels in Property
Largest movements
- Tangible fixed assets +€688,629
up €688,629 (+1,122%), from €61,356 to €749,985
- Receivables within one year -€67,046
down €67,046 (-21.5%), from €311,837 to €244,791
of which Other amounts receivable: -€61,651
- Cash +€58,778
up €58,778 (+419%), from €14,032 to €72,810
mainly Contributions, distributions and other (+€550,000) and Other debts (+€120,940)
- Revaluation surpluses +€550,000
new in 2025: €550,000
- Other debts +€120,940
up €120,940 (+59.0%), from €204,929 to €325,868
- Reserves +€14,377
up €14,377 (+15.2%), from €94,588 to €108,964
of which Distributable reserves: +€14,377
- Depreciation +€16,866
up €16,866 (+444%), from €3,798 to €20,664
- Financial income +€5,462
up €5,462 (+78.2%), from €6,987 to €12,449
- Taxes -€2,290
down €2,290 (-28.3%), from €8,102 to €5,812
- Gross operating margin +€1,338
up €1,338 (+4.9%), from €27,352 to €28,690
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 | €387,225 | €1,067,586 | +€680,361 | +176% |
| Fixed assets | 21/28 | €61,356 | €749,985 | +€688,629 | +1,122% |
| Tangible fixed assets | 22/27 | €61,356 | €749,985 | +€688,629 | +1,122% |
| Land and buildings | 22 | €61,356 | €749,985 | +€688,629 | +1,122% |
| Current assets | 29/58 | €325,870 | €317,601 | -€8,268 | -2.5% |
| Amounts receivable within one year | 40/41 | €311,837 | €244,791 | -€67,046 | -21.5% |
| Trade receivables | 40 | €24,000 | €18,605 | -€5,395 | -22.5% |
| Other amounts receivable | 41 | €287,837 | €226,186 | -€61,651 | -21.4% |
| Cash at bank and in hand | 54/58 | €14,032 | €72,810 | +€58,778 | +419% |
| Total equity and liabilities | 10/49 | €387,225 | €1,067,586 | +€680,361 | +176% |
| Equity | 10/15 | €157,088 | €721,464 | +€564,377 | +359% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €550,000 | +€550,000 | |
| Reserves | 13 | €94,588 | €108,964 | +€14,377 | +15.2% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €88,338 | €102,714 | +€14,377 | +16.3% |
| Amounts payable | 17/49 | €230,137 | €346,122 | +€115,984 | +50.4% |
| Amounts payable within one year | 42/48 | €230,137 | €346,122 | +€115,984 | +50.4% |
| Trade debts | 44 | €11,209 | €6,754 | -€4,455 | -39.7% |
| Suppliers | 440/4 | €11,209 | €6,754 | -€4,455 | -39.7% |
| Taxes, remuneration and social security | 45 | €14,000 | €13,500 | -€500 | -3.6% |
| Taxes | 450/3 | €14,000 | €13,500 | -€500 | -3.6% |
| Other amounts payable | 47/48 | €204,929 | €325,868 | +€120,940 | +59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,798 | €20,664 | +€16,866 | +444% |
| Other operating charges | 640/8 | €92 | €102 | +€10 | +11.2% |
| Gross operating margin | 9900 | €27,352 | €28,690 | +€1,338 | +4.9% |
| Operating profit (loss) | 9901 | €23,462 | €7,924 | -€15,538 | -66.2% |
| Financial income | 75/76B | €6,987 | €12,449 | +€5,462 | +78.2% |
| Recurring financial income | 75 | €6,987 | €12,449 | +€5,462 | +78.2% |
| Financial charges | 65/66B | €287 | €185 | -€102 | -35.5% |
| Recurring financial charges | 65 | €287 | €185 | -€102 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €30,163 | €20,188 | -€9,975 | -33.1% |
| Income taxes | 67/77 | €8,102 | €5,812 | -€2,290 | -28.3% |
| Profit (loss) for the period | 9904 | €22,061 | €14,377 | -€7,684 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,061 | €14,377 | -€7,684 | -34.8% |
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 22 October 2026 via checked.be.