RN LIEGE: 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
RN LIEGE
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
€279,408
2024 · €263,869+€15,540
Equity
€772,804
2024 · €493,395+€279,408
Cash
€52,172
2024 · €55,969-€3,797
Balance sheet total
€21.6m
2024 · €21.8m-€284,074
Largest movements
Assets
- Tangible fixed assets -€687,747
down €687,747 (-3.5%), from €19.8m to €19.2m
- Current investments +€385,000
up €385,000 (+27.0%), from €1.4m to €1.8m
Equity and liabilities
- Debts after one year -€560,000
down €560,000 (-2.8%), from €20.3m to €19.7m
- Profit (loss) carried forward +€279,408
up €279,408 (+195%), from €143,395 to €422,804
Income statement
- Gross operating margin +€50,134
up €50,134 (+2.9%), from €1.7m to €1.8m
- Turnover +€47,872
up €47,872 (+2.8%), from €1.7m to €1.8m
- Taxes +€33,900
up €33,900 (+57.2%), from €59,236 to €93,136
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
€263,869
Gross operating margin
+€50,134
Other operating charges
-€2,395
Financial income
-€8,015
Financial charges
+€9,716
Taxes
-€33,900
Result 2025
€279,408
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
+€941,203
Investment
-€385,000
Financing
-€560,000
Cash 2024
€55,969
From operations (derived)
+€941,203
Net result for the year
+€279,408
Depreciation
+€687,747
Receivables within one year
-€25,837
Deferred charges and accrued income
+€3,367
Trade debts
+€46,951
Tax, wage and social debts
-€46,685
Accrued charges and deferred income
-€3,748
Investment (derived)
-€385,000
Current investments
-€385,000
Financing
-€560,000
Debts after one year
-€560,000
Cash 2025
€52,172
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,838,704 | €21,554,629 | -€284,074 | -1.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €19,846,524 | €19,158,777 | -€687,747 | -3.5% |
| Tangible fixed assets | 22/27 | €19,846,524 | €19,158,777 | -€687,747 | -3.5% |
| Land and buildings | 22 | €19,846,524 | €19,158,777 | -€687,747 | -3.5% |
| Current assets | 29/58 | €1,992,180 | €2,395,853 | +€403,673 | +20.3% |
| Amounts receivable within one year | 40/41 | €496,191 | €522,028 | +€25,837 | +5.2% |
| Trade receivables | 40 | €492,744 | €505,018 | +€12,274 | +2.5% |
| Other amounts receivable | 41 | €3,447 | €17,010 | +€13,563 | +393% |
| Current investments | 50/53 | €1,425,000 | €1,810,000 | +€385,000 | +27.0% |
| Cash at bank and in hand | 54/58 | €55,969 | €52,172 | -€3,797 | -6.8% |
| Deferred charges and accrued income | 490/1 | €15,019 | €11,652 | -€3,367 | -22.4% |
| Total equity and liabilities | 10/49 | €21,838,704 | €21,554,629 | -€284,074 | -1.3% |
| Equity | 10/15 | €493,395 | €772,804 | +€279,408 | +56.6% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,395 | €422,804 | +€279,408 | +195% |
| Amounts payable | 17/49 | €21,345,308 | €20,781,826 | -€563,483 | -2.6% |
| Amounts payable after more than one year | 17 | €20,290,000 | €19,730,000 | -€560,000 | -2.8% |
| Financial debts | 170/4 | €20,290,000 | €19,730,000 | -€560,000 | -2.8% |
| Amounts payable within one year | 42/48 | €775,444 | €775,709 | +€266 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €560,000 | €560,000 | = | 0.0% |
| Trade debts | 44 | €168,759 | €215,709 | +€46,951 | +27.8% |
| Suppliers | 440/4 | €168,759 | €215,709 | +€46,951 | +27.8% |
| Taxes, remuneration and social security | 45 | €46,685 | - | -€46,685 | |
| Taxes | 450/3 | €46,685 | - | -€46,685 | |
| Accrued charges and deferred income | 492/3 | €279,865 | €276,116 | -€3,748 | -1.3% |
| Turnover | 70 | €1,719,905 | €1,767,777 | +€47,872 | +2.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €13,292 | €11,029 | -€2,262 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €687,747 | €687,747 | = | 0.0% |
| Other operating charges | 640/8 | €76,499 | €78,894 | +€2,395 | +3.1% |
| Gross operating margin | 9900 | €1,706,613 | €1,756,747 | +€50,134 | +2.9% |
| Operating profit (loss) | 9901 | €942,367 | €990,106 | +€47,739 | +5.1% |
| Financial income | 75/76B | €41,836 | €33,821 | -€8,015 | -19.2% |
| Recurring financial income | 75 | €41,836 | €33,821 | -€8,015 | -19.2% |
| Financial charges | 65/66B | €661,099 | €651,383 | -€9,716 | -1.5% |
| Recurring financial charges | 65 | €661,099 | €651,383 | -€9,716 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €323,104 | €372,544 | +€49,440 | +15.3% |
| Income taxes | 67/77 | €59,236 | €93,136 | +€33,900 | +57.2% |
| Profit (loss) for the period | 9904 | €263,869 | €279,408 | +€15,540 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €263,869 | €279,408 | +€15,540 | +5.9% |
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 20 October 2026 via checked.be.