RESOLVE: 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
RESOLVE
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€102,814
2024 · €79,448-€182,263
Equity
€14.1m
2024 · €14.2m-€102,814
Cash
€386,163
2024 · €145,084+€241,079
Balance sheet total
€29.9m
2024 · €38.4m-€8.4m
Largest movements
Assets
- Stocks and contracts -€10.4m
down €10.4m (-51.9%), from €20.0m to €9.6m
of which Stocks: -€10.8m
- Receivables within one year +€1.1m
up €1.1m (+10.2%), from €10.5m to €11.6m
of which Trade receivables: +€3.1m
- Receivables after one year +€437,000
new in 2025: €437,000
Equity and liabilities
- Short-term financial debts -€8.7m
down €8.7m (-74.6%), from €11.7m to €3.0m
- Other debts +€3.3m
up €3.3m (+81.0%), from €4.1m to €7.3m
- Trade debts -€1.5m
down €1.5m (-70.4%), from €2.2m to €640,369
- Debts after one year -€1.5m
down €1.5m (-97.5%), from €1.6m to €38,326
- Accrued charges and deferred income +€526,577
up €526,577 (+94.1%), from €559,329 to €1.1m
Income statement
- Turnover +€7.5m
up €7.5m (+72.6%), from €10.3m to €17.8m
- Goods and materials -€3.9m
down €3.9m (-55.6%), from €6.9m to €3.1m
- Financial income -€546,145
down €546,145 (-66.7%), from €818,871 to €272,726
of which Non-recurring financial income: -€526,360
- Financial charges -€436,371
down €436,371 (-36.2%), from €1.2m to €769,811
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
€79,448
Turnover
+€7.5m
Other operating income
-€29,952
Goods and materials
+€3.9m
Services and other goods
+€4,027
Staff costs
-€77,602
Depreciation
-€14,618
Provisions
-€164,537
Other operating charges
+€28
Other operating items
-€11.0m
Financial income
-€546,145
Financial charges
+€436,371
Taxes
-€99,920
Result 2025
-€102,814
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
+€10.7m
Investment
-€207,889
Financing
-€10.2m
Cash 2024
€145,084
From operations (derived)
+€10.7m
Net result for the year
-€102,814
Depreciation
+€41,426
Receivables after one year
-€437,000
Stocks and contracts
+€10.4m
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€34,826
Provisions
+€164,537
Trade debts
-€1.5m
Tax, wage and social debts
-€249,271
Advances received
-€322,935
Other debts
+€3.3m
Accrued charges and deferred income
+€526,577
Investment (derived)
-€207,889
Investment in fixed assets (net)
-€207,889
Financing
-€10.2m
Debts after one year
-€1.5m
Current portion of long-term debt
+€426
Short-term financial debts
-€8.7m
Cash 2025
€386,163
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,358,826 | €29,923,240 | -€8.4m | -22.0% |
| Fixed assets | 21/28 | €7,400,788 | €7,567,251 | +€166,463 | +2.2% |
| Intangible fixed assets | 21 | €5,441 | €7,833 | +€2,392 | +44.0% |
| Tangible fixed assets | 22/27 | €203,314 | €192,847 | -€10,467 | -5.1% |
| Furniture and vehicles | 24 | €83,753 | €78,520 | -€5,233 | -6.2% |
| Other tangible fixed assets | 26 | €119,561 | €114,327 | -€5,234 | -4.4% |
| Financial fixed assets | 28 | €7,192,033 | €7,366,570 | +€174,537 | +2.4% |
| Affiliated companies | 280/1 | €2,510,452 | €2,570,452 | +€60,000 | +2.4% |
| Participating interests | 280 | €2,510,452 | €2,570,452 | +€60,000 | +2.4% |
| Companies linked by participating interests | 282/3 | €4,681,581 | €4,681,581 | = | 0.0% |
| Participating interests | 282 | €4,681,581 | €4,681,581 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €114,537 | +€114,537 | |
| Amounts receivable and cash guarantees | 285/8 | - | €114,537 | +€114,537 | |
| Current assets | 29/58 | €30,958,038 | €22,355,989 | -€8.6m | -27.8% |
| Amounts receivable after more than one year | 29 | - | €437,000 | +€437,000 | |
| Other amounts receivable | 291 | - | €437,000 | +€437,000 | |
| Stocks and contracts in progress | 3 | €20,020,214 | €9,632,789 | -€10.4m | -51.9% |
| Stocks | 30/36 | €20,020,214 | €9,203,938 | -€10.8m | -54.0% |
| Property held for sale | 35 | €19,989,714 | €9,173,438 | -€10.8m | -54.1% |
| Advance payments | 36 | €30,500 | €30,500 | = | 0.0% |
| Contracts in progress | 37 | - | €428,850 | +€428,850 | |
| Amounts receivable within one year | 40/41 | €10,547,817 | €11,620,289 | +€1.1m | +10.2% |
| Trade receivables | 40 | €2,722,848 | €5,815,542 | +€3.1m | +113.6% |
| Other amounts receivable | 41 | €7,824,969 | €5,804,747 | -€2.0m | -25.8% |
| Cash at bank and in hand | 54/58 | €145,084 | €386,163 | +€241,079 | +166.2% |
| Deferred charges and accrued income | 490/1 | €244,922 | €279,749 | +€34,826 | +14.2% |
| Total equity and liabilities | 10/49 | €38,358,826 | €29,923,240 | -€8.4m | -22.0% |
| Equity | 10/15 | €14,203,720 | €14,100,905 | -€102,814 | -0.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €14,142,000 | €14,039,405 | -€102,595 | -0.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €14,135,850 | €14,033,255 | -€102,595 | -0.7% |
| Profit (loss) carried forward | 14 | €220 | - | -€220 | |
| Provisions and deferred taxes | 16 | - | €164,537 | +€164,537 | |
| Provisions for liabilities and charges | 160/5 | - | €164,537 | +€164,537 | |
| Other liabilities and charges | 164/5 | - | €164,537 | +€164,537 | |
| Amounts payable | 17/49 | €24,155,106 | €15,657,798 | -€8.5m | -35.2% |
| Amounts payable after more than one year | 17 | €1,550,583 | €38,326 | -€1.5m | -97.5% |
| Financial debts | 170/4 | €1,550,583 | €38,326 | -€1.5m | -97.5% |
| Credit institutions | 173 | €1,550,583 | €38,326 | -€1.5m | -97.5% |
| Amounts payable within one year | 42/48 | €22,045,194 | €14,533,565 | -€7.5m | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €3,511,832 | €3,512,257 | +€426 | 0.0% |
| Financial debts | 43 | €11,668,981 | €2,968,370 | -€8.7m | -74.6% |
| Credit institutions | 430/8 | €11,668,981 | €2,968,370 | -€8.7m | -74.6% |
| Trade debts | 44 | €2,166,266 | €640,369 | -€1.5m | -70.4% |
| Suppliers | 440/4 | €2,166,266 | €640,369 | -€1.5m | -70.4% |
| Advances received on contracts in progress | 46 | €322,935 | - | -€322,935 | |
| Taxes, remuneration and social security | 45 | €316,015 | €66,745 | -€249,271 | -78.9% |
| Taxes | 450/3 | €272,101 | €13,021 | -€259,080 | -95.2% |
| Remuneration and social security | 454/9 | €43,915 | €53,723 | +€9,809 | +22.3% |
| Other amounts payable | 47/48 | €4,059,165 | €7,345,825 | +€3.3m | +81.0% |
| Accrued charges and deferred income | 492/3 | €559,329 | €1,085,907 | +€526,577 | +94.1% |
| Operating income | 70/76A | €11,125,684 | €7,542,659 | -€3.6m | -32.2% |
| Turnover | 70 | €10,287,962 | €17,753,499 | +€7.5m | +72.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €562,010 | -€10,446,737 | -€11.0m | |
| Other operating income | 74 | €265,849 | €235,897 | -€29,952 | -11.3% |
| Non-recurring operating income | 76A | €9,862 | - | -€9,862 | |
| Operating charges | 60/66A | €10,758,280 | €7,147,823 | -€3.6m | -33.6% |
| Goods for resale, raw materials and consumables | 60 | €6,931,159 | €3,075,839 | -€3.9m | -55.6% |
| Purchases | 600/8 | €6,931,159 | €3,075,839 | -€3.9m | -55.6% |
| Services and other goods | 61 | €3,491,968 | €3,487,942 | -€4,027 | -0.1% |
| Remuneration, social security and pensions | 62 | €298,065 | €375,666 | +€77,602 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,808 | €41,426 | +€14,618 | +54.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €164,537 | +€164,537 | |
| Other operating charges | 640/8 | €2,440 | €2,412 | -€28 | -1.1% |
| Non-recurring operating charges | 66A | €7,840 | - | -€7,840 | |
| Operating profit (loss) | 9901 | €367,404 | €394,836 | +€27,432 | +7.5% |
| Financial income | 75/76B | €818,871 | €272,726 | -€546,145 | -66.7% |
| Recurring financial income | 75 | €282,538 | €262,752 | -€19,786 | -7.0% |
| Income from current assets | 751 | €281,740 | €262,165 | -€19,575 | -6.9% |
| Other financial income | 752/9 | €797 | €587 | -€211 | -26.4% |
| Non-recurring financial income | 76B | €536,334 | €9,974 | -€526,360 | -98.1% |
| Financial charges | 65/66B | €1,206,181 | €769,811 | -€436,371 | -36.2% |
| Recurring financial charges | 65 | €1,206,181 | €769,811 | -€436,371 | -36.2% |
| Debt charges | 650 | €1,199,221 | €763,453 | -€435,768 | -36.3% |
| Other financial charges | 652/9 | €6,960 | €6,358 | -€602 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,906 | -€102,249 | -€82,342 | -413.7% |
| Income taxes | 67/77 | -€99,354 | €566 | +€99,920 | |
| Taxes | 670/3 | €646 | €566 | -€80 | -12.3% |
| Tax adjustments and reversals of tax provisions | 77 | €100,000 | - | -€100,000 | |
| Profit (loss) for the period | 9904 | €79,448 | -€102,814 | -€182,263 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,448 | -€102,814 | -€182,263 |
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 28 September 2026 via checked.be.