REGATTA: 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.
What changed
REGATTA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,059
2024 · -€23,370+€14,311
Equity
€1.8m
2024 · €1.8m-€9,060
Cash
€649
2024 · €876-€227
Balance sheet total
€6.2m
2024 · €6.9m-€641,762
Largest movements
Assets
- Tangible fixed assets -€800,315
down €800,315 (-12.8%), from €6.2m to €5.4m
- Receivables within one year +€170,977
up €170,977 (+28.5%), from €599,869 to €770,846
of which Other amounts receivable: +€170,510
Equity and liabilities
- Debts after one year -€412,123
down €412,123 (-17.2%), from €2.4m to €2.0m
of which Financial debts: -€412,123
- Short-term financial debts -€200,000
no longer reported in 2025 (was €200,000)
- Current portion of long-term debt -€152,106
down €152,106 (-35.0%), from €434,498 to €282,392
- Other debts +€141,132
up €141,132 (+8.1%), from €1.7m to €1.9m
Income statement
- Gross operating margin +€115,096
up €115,096 (+39.8%), from €289,182 to €404,278
- Financial charges +€9,125
up €9,125 (+6.3%), from €144,899 to €154,024
- Depreciation -€7,917
down €7,917 (-6.3%), from €126,480 to €118,563
- Taxes +€7,058
up €7,058 (+725%), from €973 to €8,031
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
-€23,370
Gross operating margin
+€115,096
Depreciation
+€7,917
Other operating charges
+€3,165
Other operating items
-€96,634
Financial income
+€17
Financial charges
-€9,125
Taxes
-€7,058
Deferred taxes and other
+€932
Result 2025
-€9,059
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€80,891
Investment
+€683,112
Financing
-€764,230
Cash 2024
€876
From operations (derived)
+€80,891
Net result for the year
-€9,059
Depreciation
+€118,563
Receivables within one year
-€170,977
Deferred charges and accrued income
+€10,837
Provisions
-€7,894
Trade debts
-€8,275
Tax, wage and social debts
+€7,413
Other debts
+€141,132
Accrued charges and deferred income
-€848
Investment (derived)
+€683,112
Investment in fixed assets (net)
+€683,112
Financing
-€764,230
Debts after one year
-€412,123
Current portion of long-term debt
-€152,106
Short-term financial debts
-€200,000
Contributions, distributions and other
-€0
Cash 2025
€649
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,858,311 | €6,216,549 | -€641,762 | -9.4% |
| Fixed assets | 21/28 | €6,246,400 | €5,444,725 | -€801,675 | -12.8% |
| Tangible fixed assets | 22/27 | €6,245,040 | €5,444,725 | -€800,315 | -12.8% |
| Land and buildings | 22 | €6,245,040 | €5,444,725 | -€800,315 | -12.8% |
| Financial fixed assets | 28 | €1,360 | - | -€1,360 | |
| Current assets | 29/58 | €611,911 | €771,824 | +€159,913 | +26.1% |
| Amounts receivable within one year | 40/41 | €599,869 | €770,846 | +€170,977 | +28.5% |
| Trade receivables | 40 | €27,949 | €28,416 | +€467 | +1.7% |
| Other amounts receivable | 41 | €571,920 | €742,430 | +€170,510 | +29.8% |
| Cash at bank and in hand | 54/58 | €876 | €649 | -€227 | -25.9% |
| Deferred charges and accrued income | 490/1 | €11,166 | €329 | -€10,837 | -97.1% |
| Total equity and liabilities | 10/49 | €6,858,311 | €6,216,549 | -€641,762 | -9.4% |
| Equity | 10/15 | €1,804,135 | €1,795,075 | -€9,060 | -0.5% |
| Contributions | 10/11 | €540,000 | €540,000 | = | 0.0% |
| Reserves | 13 | €791,836 | €782,777 | -€9,059 | -1.1% |
| Non-distributable reserves | 130/1 | €54,000 | €54,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €54,000 | €54,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €487,836 | €464,154 | -€23,682 | -4.9% |
| Distributable reserves | 133 | €250,000 | €264,623 | +€14,623 | +5.8% |
| Profit (loss) carried forward | 14 | €472,299 | €472,299 | -€0 | 0.0% |
| Provisions and deferred taxes | 16 | €162,612 | €154,718 | -€7,894 | -4.9% |
| Deferred taxes | 168 | €162,612 | €154,718 | -€7,894 | -4.9% |
| Amounts payable | 17/49 | €4,891,564 | €4,266,755 | -€624,809 | -12.8% |
| Amounts payable after more than one year | 17 | €2,397,515 | €1,985,392 | -€412,123 | -17.2% |
| Financial debts | 170/4 | €2,048,115 | €1,635,992 | -€412,123 | -20.1% |
| Other amounts payable | 178/9 | €349,400 | €349,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,443,200 | €2,231,363 | -€211,837 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €434,498 | €282,392 | -€152,106 | -35.0% |
| Financial debts | 43 | €200,000 | - | -€200,000 | |
| Credit institutions | 430/8 | €200,000 | - | -€200,000 | |
| Trade debts | 44 | €56,487 | €48,212 | -€8,275 | -14.6% |
| Suppliers | 440/4 | €56,487 | €48,212 | -€8,275 | -14.6% |
| Taxes, remuneration and social security | 45 | €9,461 | €16,874 | +€7,413 | +78.3% |
| Taxes | 450/3 | €3,961 | €11,374 | +€7,413 | +187% |
| Remuneration and social security | 454/9 | €5,500 | €5,500 | = | 0.0% |
| Other amounts payable | 47/48 | €1,742,754 | €1,883,886 | +€141,132 | +8.1% |
| Accrued charges and deferred income | 492/3 | €50,849 | €50,001 | -€848 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,480 | €118,563 | -€7,917 | -6.3% |
| Other operating charges | 640/8 | €47,046 | €43,881 | -€3,165 | -6.7% |
| Non-recurring operating charges | 66A | €118 | €96,752 | +€96,634 | +81,893% |
| Gross operating margin | 9900 | €289,182 | €404,278 | +€115,096 | +39.8% |
| Operating profit (loss) | 9901 | €115,538 | €145,082 | +€29,544 | +25.6% |
| Financial income | 75/76B | €2 | €19 | +€17 | +873% |
| Recurring financial income | 75 | €2 | €19 | +€17 | +873% |
| Financial charges | 65/66B | €144,899 | €154,024 | +€9,125 | +6.3% |
| Recurring financial charges | 65 | €144,899 | €154,024 | +€9,125 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,359 | -€8,922 | +€20,437 | +69.6% |
| Transfer from deferred taxes | 780 | €6,962 | €7,894 | +€932 | +13.4% |
| Income taxes | 67/77 | €973 | €8,031 | +€7,058 | +725% |
| Profit (loss) for the period | 9904 | -€23,370 | -€9,059 | +€14,311 | +61.2% |
| Transfer from tax-exempt reserves | 789 | €20,886 | €23,682 | +€2,796 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,484 | €14,623 | +€17,107 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.