REGINA 5: 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
REGINA 5
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€38,286
2024 · €51,423-€13,136
Equity
€917,972
2024 · €879,686+€38,286
Cash
€4,390
2024 · €7,053-€2,664
Balance sheet total
€5.6m
2024 · €5.7m-€162,078
Largest movements
Assets
- Tangible fixed assets -€169,827
down €169,827 (-3.0%), from €5.7m to €5.6m
of which Land and buildings: -€167,523
Equity and liabilities
- Debts after one year -€268,178
down €268,178 (-8.4%), from €3.2m to €2.9m
Income statement
- Other operating charges +€22,520
up €22,520 (+52.7%), from €42,765 to €65,285
- Gross operating margin +€5,467
up €5,467 (+1.5%), from €353,128 to €358,595
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
€51,423
Gross operating margin
+€5,467
Depreciation
+€439
Other operating charges
-€22,520
Financial charges
+€352
Taxes
+€3,126
Result 2025
€38,286
raises the resultlowers the result
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
+€260,439
Investment
-€1,210
Financing
-€261,893
Cash 2024
€7,053
From operations (derived)
+€260,439
Net result for the year
+€38,286
Depreciation
+€171,037
Receivables within one year
-€7,976
Deferred charges and accrued income
-€2,437
Trade debts
-€4,590
Tax, wage and social debts
-€13,143
Other debts
+€50,051
Accrued charges and deferred income
+€29,211
Investment (derived)
-€1,210
Investment in fixed assets (net)
-€1,210
Financing
-€261,893
Debts after one year
-€268,178
Current portion of long-term debt
+€6,286
Cash 2025
€4,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,746,842 | €5,584,764 | -€162,078 | -2.8% |
| Fixed assets | 21/28 | €5,732,823 | €5,562,995 | -€169,827 | -3.0% |
| Tangible fixed assets | 22/27 | €5,732,823 | €5,562,995 | -€169,827 | -3.0% |
| Land and buildings | 22 | €5,696,756 | €5,529,233 | -€167,523 | -2.9% |
| Plant, machinery and equipment | 23 | €36,067 | €33,762 | -€2,304 | -6.4% |
| Current assets | 29/58 | €14,019 | €21,769 | +€7,750 | +55.3% |
| Amounts receivable within one year | 40/41 | €1,419 | €9,395 | +€7,976 | +562% |
| Trade receivables | 40 | €1,419 | €1,419 | = | 0.0% |
| Other amounts receivable | 41 | - | €7,976 | +€7,976 | |
| Cash at bank and in hand | 54/58 | €7,053 | €4,390 | -€2,664 | -37.8% |
| Deferred charges and accrued income | 490/1 | €5,547 | €7,984 | +€2,437 | +43.9% |
| Total equity and liabilities | 10/49 | €5,746,842 | €5,584,764 | -€162,078 | -2.8% |
| Equity | 10/15 | €879,686 | €917,972 | +€38,286 | +4.4% |
| Contributions | 10/11 | €807,114 | €807,114 | = | 0.0% |
| Capital | 10 | €807,114 | €807,114 | = | 0.0% |
| Issued capital | 100 | €807,114 | €807,114 | = | 0.0% |
| Reserves | 13 | €3,660 | €5,660 | +€2,000 | +54.6% |
| Non-distributable reserves | 130/1 | €3,660 | €5,660 | +€2,000 | +54.6% |
| Legal reserve | 130 | €3,660 | €5,660 | +€2,000 | +54.6% |
| Profit (loss) carried forward | 14 | €68,912 | €105,199 | +€36,286 | +52.7% |
| Amounts payable | 17/49 | €4,867,156 | €4,666,792 | -€200,364 | -4.1% |
| Amounts payable after more than one year | 17 | €3,198,136 | €2,929,958 | -€268,178 | -8.4% |
| Financial debts | 170/4 | €3,198,136 | €2,929,958 | -€268,178 | -8.4% |
| Amounts payable within one year | 42/48 | €1,666,192 | €1,704,796 | +€38,603 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €276,831 | €283,117 | +€6,286 | +2.3% |
| Trade debts | 44 | €33,466 | €28,876 | -€4,590 | -13.7% |
| Suppliers | 440/4 | €33,466 | €28,876 | -€4,590 | -13.7% |
| Taxes, remuneration and social security | 45 | €23,820 | €10,677 | -€13,143 | -55.2% |
| Taxes | 450/3 | €23,820 | €10,677 | -€13,143 | -55.2% |
| Other amounts payable | 47/48 | €1,332,075 | €1,382,126 | +€50,051 | +3.8% |
| Accrued charges and deferred income | 492/3 | €2,828 | €32,038 | +€29,211 | +1,033% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,476 | €171,037 | -€439 | -0.3% |
| Other operating charges | 640/8 | €42,765 | €65,285 | +€22,520 | +52.7% |
| Gross operating margin | 9900 | €353,128 | €358,595 | +€5,467 | +1.5% |
| Operating profit (loss) | 9901 | €138,886 | €122,273 | -€16,614 | -12.0% |
| Financial charges | 65/66B | €70,944 | €70,592 | -€352 | -0.5% |
| Recurring financial charges | 65 | €70,944 | €70,592 | -€352 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €67,943 | €51,680 | -€16,262 | -23.9% |
| Income taxes | 67/77 | €16,520 | €13,394 | -€3,126 | -18.9% |
| Profit (loss) for the period | 9904 | €51,423 | €38,286 | -€13,136 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,423 | €38,286 | -€13,136 | -25.5% |
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 26 October 2026 via checked.be.