RM-estate: 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.
RM-estate
Largest movements
- Tangible fixed assets +€191,374
up €191,374 (+138%), from €138,296 to €329,670
- Cash -€17,903
down €17,903 (-12.6%), from €142,418 to €124,515
mainly Investment in fixed assets (net) (-€200,000) and Other debts (-€29,066)
- Current investments -€8,279
no longer reported in 2025 (was €8,279)
- Revaluation surpluses +€200,000
new in 2025: €200,000
- Other debts -€29,066
down €29,066 (-35.2%), from €82,612 to €53,546
- Profit (loss) carried forward -€5,742
down €5,742 (-0.7%), from -€782,492 to -€788,234
- Financial charges +€8,134
up €8,134 (+2,720%), from €299 to €8,433
- Other operating charges -€4,395
down €4,395 (-73.1%), from €6,010 to €1,615
- Depreciation -€4,312
down €4,312 (-33.3%), from €12,938 to €8,626
- Taxes -€3,018
no longer reported in 2025 (was €3,018)
- Gross operating margin -€2,615
down €2,615 (-17.1%), from €15,284 to €12,669
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 | €288,993 | €454,185 | +€165,192 | +57.2% |
| Fixed assets | 21/28 | €138,296 | €329,670 | +€191,374 | +138% |
| Tangible fixed assets | 22/27 | €138,296 | €329,670 | +€191,374 | +138% |
| Land and buildings | 22 | €138,296 | €329,670 | +€191,374 | +138% |
| Current assets | 29/58 | €150,697 | €124,515 | -€26,182 | -17.4% |
| Current investments | 50/53 | €8,279 | - | -€8,279 | |
| Cash at bank and in hand | 54/58 | €142,418 | €124,515 | -€17,903 | -12.6% |
| Total equity and liabilities | 10/49 | €288,993 | €454,185 | +€165,192 | +57.2% |
| Equity | 10/15 | €206,381 | €400,639 | +€194,258 | +94.1% |
| Contributions | 10/11 | €537,173 | €537,173 | = | 0.0% |
| Capital | 10 | €537,173 | €537,173 | = | 0.0% |
| Issued capital | 100 | €537,173 | €537,173 | = | 0.0% |
| Revaluation surpluses | 12 | - | €200,000 | +€200,000 | |
| Reserves | 13 | €451,700 | €451,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55,000 | €55,000 | = | 0.0% |
| Legal reserve | 130 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €396,700 | €396,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€782,492 | -€788,234 | -€5,742 | -0.7% |
| Amounts payable | 17/49 | €82,612 | €53,546 | -€29,066 | -35.2% |
| Amounts payable within one year | 42/48 | €82,612 | €53,546 | -€29,066 | -35.2% |
| Other amounts payable | 47/48 | €82,612 | €53,546 | -€29,066 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,938 | €8,626 | -€4,312 | -33.3% |
| Other operating charges | 640/8 | €6,010 | €1,615 | -€4,395 | -73.1% |
| Gross operating margin | 9900 | €15,284 | €12,669 | -€2,615 | -17.1% |
| Operating profit (loss) | 9901 | -€3,664 | €2,428 | +€6,092 | |
| Financial income | 75/76B | - | €263 | +€263 | |
| Recurring financial income | 75 | - | €263 | +€263 | |
| Financial charges | 65/66B | €299 | €8,433 | +€8,134 | +2,720% |
| Recurring financial charges | 65 | €299 | €8,433 | +€8,134 | +2,720% |
| Profit (loss) for the period before taxes | 9903 | -€3,963 | -€5,742 | -€1,779 | -44.9% |
| Income taxes | 67/77 | €3,018 | - | -€3,018 | |
| Profit (loss) for the period | 9904 | -€6,981 | -€5,742 | +€1,239 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,981 | -€5,742 | +€1,239 | +17.7% |
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 13 October 2026 via checked.be.