RETAIL CAPITAL: what changed
What changed
RETAIL CAPITAL
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€15,855
2024 · €55,452-€39,597
Equity
€2.2m
2024 · €2.2m+€15,855
Cash
€244,932
2024 · €472,664-€227,732
Balance sheet total
€16.9m
2024 · €17.2m-€344,126
Largest movements
Assets
- Deferred charges and accrued income -€390,699
down €390,699 (-97.7%), from €400,012 to €9,314
- Stocks and contracts +€363,007
up €363,007 (+2.4%), from €15.3m to €15.7m
- Cash -€227,732
down €227,732 (-48.2%), from €472,664 to €244,932
mainly Other debts (-€644,172) and Stocks and contracts (-€363,007)
Equity and liabilities
- Short-term financial debts +€723,328
up €723,328 (+21.3%), from €3.4m to €4.1m
- Other debts -€644,172
down €644,172 (-59.1%), from €1.1m to €445,236
- Trade debts -€265,564
down €265,564 (-95.8%), from €277,121 to €11,557
- Debts after one year -€182,943
down €182,943 (-1.9%), from €9.9m to €9.7m
Income statement
- Gross operating margin -€64,967
down €64,967 (-7.9%), from €820,301 to €755,334
- Financial charges -€36,102
down €36,102 (-6.0%), from €599,629 to €563,528
- Other operating charges +€28,269
up €28,269 (+175%), from €16,172 to €44,441
- Taxes -€15,970
down €15,970 (-54.7%), from €29,170 to €13,200
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€55,452
Gross operating margin
-€64,967
Staff costs
+€1,904
Depreciation
-€1,559
Other operating charges
-€28,269
Financial income
+€1,221
Financial charges
+€36,102
Taxes
+€15,970
Result 2025
€15,855
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€732,574
Investment
-€18,753
Financing
+€523,595
Cash 2024
€472,664
From operations (derived)
-€732,574
Net result for the year
+€15,855
Depreciation
+€81,133
Stocks and contracts
-€363,007
Receivables within one year
+€26,323
Deferred charges and accrued income
+€390,699
Trade debts
-€265,564
Tax, wage and social debts
+€10,591
Other debts
-€644,172
Accrued charges and deferred income
+€15,569
Investment (derived)
-€18,753
Investment in fixed assets (net)
-€18,753
Financing
+€523,595
Debts after one year
-€182,943
Current portion of long-term debt
-€16,789
Short-term financial debts
+€723,328
Cash 2025
€244,932
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,196,506 | €16,852,380 | -€344,126 | -2.0% |
| Fixed assets | 21/28 | €972,387 | €910,008 | -€62,380 | -6.4% |
| Intangible fixed assets | 21 | - | €16,749 | +€16,749 | |
| Tangible fixed assets | 22/27 | €972,387 | €893,259 | -€79,128 | -8.1% |
| Land and buildings | 22 | €963,758 | €887,401 | -€76,358 | -7.9% |
| Plant, machinery and equipment | 23 | €995 | €467 | -€529 | -53.1% |
| Furniture and vehicles | 24 | €7,634 | €5,392 | -€2,242 | -29.4% |
| Current assets | 29/58 | €16,224,118 | €15,942,372 | -€281,746 | -1.7% |
| Stocks and contracts in progress | 3 | €15,322,327 | €15,685,335 | +€363,007 | +2.4% |
| Stocks | 30/36 | €15,322,327 | €15,685,335 | +€363,007 | +2.4% |
| Amounts receivable within one year | 40/41 | €29,115 | €2,792 | -€26,323 | -90.4% |
| Trade receivables | 40 | €2,847 | €2,792 | -€55 | -1.9% |
| Other amounts receivable | 41 | €26,268 | €0 | -€26,268 | -100% |
| Cash at bank and in hand | 54/58 | €472,664 | €244,932 | -€227,732 | -48.2% |
| Deferred charges and accrued income | 490/1 | €400,012 | €9,314 | -€390,699 | -97.7% |
| Total equity and liabilities | 10/49 | €17,196,506 | €16,852,380 | -€344,126 | -2.0% |
| Equity | 10/15 | €2,216,638 | €2,232,493 | +€15,855 | +0.7% |
| Contributions | 10/11 | €1,022,000 | €1,022,000 | = | 0.0% |
| Reserves | 13 | €1,147,928 | €1,163,783 | +€15,855 | +1.4% |
| Distributable reserves | 133 | €1,147,928 | €1,163,783 | +€15,855 | +1.4% |
| Profit (loss) carried forward | 14 | €46,710 | €46,710 | = | 0.0% |
| Amounts payable | 17/49 | €14,979,867 | €14,619,887 | -€359,981 | -2.4% |
| Amounts payable after more than one year | 17 | €9,851,064 | €9,668,121 | -€182,943 | -1.9% |
| Financial debts | 170/4 | €9,851,064 | €9,668,121 | -€182,943 | -1.9% |
| Amounts payable within one year | 42/48 | €5,126,987 | €4,934,381 | -€192,607 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €349,664 | €332,874 | -€16,789 | -4.8% |
| Financial debts | 43 | €3,402,869 | €4,126,197 | +€723,328 | +21.3% |
| Credit institutions | 430/8 | €3,402,869 | €4,126,197 | +€723,328 | +21.3% |
| Trade debts | 44 | €277,121 | €11,557 | -€265,564 | -95.8% |
| Suppliers | 440/4 | €277,121 | €11,557 | -€265,564 | -95.8% |
| Taxes, remuneration and social security | 45 | €7,925 | €18,516 | +€10,591 | +134% |
| Taxes | 450/3 | €3,241 | €15,162 | +€11,921 | +368% |
| Remuneration and social security | 454/9 | €4,685 | €3,355 | -€1,330 | -28.4% |
| Other amounts payable | 47/48 | €1,089,408 | €445,236 | -€644,172 | -59.1% |
| Accrued charges and deferred income | 492/3 | €1,816 | €17,385 | +€15,569 | +857% |
| Remuneration, social security and pensions | 62 | €40,326 | €38,422 | -€1,904 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,574 | €81,133 | +€1,559 | +2.0% |
| Other operating charges | 640/8 | €16,172 | €44,441 | +€28,269 | +175% |
| Gross operating margin | 9900 | €820,301 | €755,334 | -€64,967 | -7.9% |
| Operating profit (loss) | 9901 | €684,229 | €591,338 | -€92,890 | -13.6% |
| Financial income | 75/76B | €23 | €1,244 | +€1,221 | +5,265% |
| Recurring financial income | 75 | €23 | €1,244 | +€1,221 | +5,265% |
| Financial charges | 65/66B | €599,629 | €563,528 | -€36,102 | -6.0% |
| Recurring financial charges | 65 | €599,629 | €563,528 | -€36,102 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €84,622 | €29,055 | -€55,568 | -65.7% |
| Income taxes | 67/77 | €29,170 | €13,200 | -€15,970 | -54.7% |
| Profit (loss) for the period | 9904 | €55,452 | €15,855 | -€39,597 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,452 | €15,855 | -€39,597 | -71.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.