RO - BE: 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
RO - BE
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€154,935
2024 · €232,145-€77,210
Equity
€2.6m
2024 · €2.5m+€154,935
Cash
€500,971
2024 · €529,875-€28,904
Balance sheet total
€3.3m
2024 · €2.6m+€687,104
Largest movements
Assets
- Tangible fixed assets +€698,966
up €698,966 (+53.5%), from €1.3m to €2.0m
of which Land and buildings: +€508,664
Equity and liabilities
- Other debts +€618,970
new in 2025: €618,970
- Reserves +€154,935
up €154,935 (+12.1%), from €1.3m to €1.4m
of which Distributable reserves: +€246,070
- Current portion of long-term debt -€75,000
down €75,000 (-75.0%), from €100,000 to €25,000
Income statement
- Depreciation +€82,072
up €82,072 (+67.1%), from €122,375 to €204,447
- Financial charges +€30,245
up €30,245 (+879.6%), from €3,439 to €33,683
- Taxes -€25,566
down €25,566 (-32.7%), from €78,213 to €52,647
- Staff costs -€6,892
down €6,892 (-89.0%), from €7,747 to €855
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
€232,145
Gross operating margin
+€1,662
Staff costs
+€6,892
Depreciation
-€82,072
Other operating charges
-€223
Financial income
+€1,208
Financial charges
-€30,245
Taxes
+€25,566
Result 2025
€154,935
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
+€973,606
Investment
-€902,445
Financing
-€100,065
Cash 2024
€529,875
From operations (derived)
+€973,606
Net result for the year
+€154,935
Depreciation
+€204,447
Receivables within one year
-€6,996
Deferred charges and accrued income
-€11,014
Smaller working-capital items
-€1,596
Tax, wage and social debts
+€14,861
Other debts
+€618,970
Investment (derived)
-€902,445
Investment in fixed assets (net)
-€903,413
Current investments
+€968
Financing
-€100,065
Debts after one year
-€25,065
Current portion of long-term debt
-€75,000
Cash 2025
€500,971
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,634,988 | €3,322,092 | +€687,104 | +26.1% |
| Fixed assets | 21/28 | €2,010,334 | €2,709,300 | +€698,966 | +34.8% |
| Tangible fixed assets | 22/27 | €1,306,949 | €2,005,915 | +€698,966 | +53.5% |
| Land and buildings | 22 | €1,129,398 | €1,638,061 | +€508,664 | +45.0% |
| Plant, machinery and equipment | 23 | €895 | - | -€895 | |
| Furniture and vehicles | 24 | €176,656 | €128,823 | -€47,833 | -27.1% |
| Assets under construction and advance payments | 27 | - | €239,031 | +€239,031 | |
| Financial fixed assets | 28 | €703,385 | €703,385 | = | 0.0% |
| Current assets | 29/58 | €624,653 | €612,791 | -€11,862 | -1.9% |
| Stocks and contracts in progress | 3 | €6,613 | €6,613 | = | 0.0% |
| Stocks | 30/36 | €6,613 | €6,613 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,546 | €39,542 | +€6,996 | +21.5% |
| Trade receivables | 40 | €32,546 | €32,189 | -€357 | -1.1% |
| Other amounts receivable | 41 | - | €7,353 | +€7,353 | |
| Current investments | 50/53 | €51,468 | €50,500 | -€968 | -1.9% |
| Cash at bank and in hand | 54/58 | €529,875 | €500,971 | -€28,904 | -5.5% |
| Deferred charges and accrued income | 490/1 | €4,151 | €15,166 | +€11,014 | +265.3% |
| Total equity and liabilities | 10/49 | €2,634,988 | €3,322,092 | +€687,104 | +26.1% |
| Equity | 10/15 | €2,486,348 | €2,641,283 | +€154,935 | +6.2% |
| Contributions | 10/11 | €1,208,000 | €1,208,000 | = | 0.0% |
| Capital | 10 | €1,208,000 | - | -€1.2m | |
| Issued capital | 100 | €1,208,000 | - | -€1.2m | |
| Reserves | 13 | €1,278,348 | €1,433,283 | +€154,935 | +12.1% |
| Non-distributable reserves | 130/1 | €91,135 | - | -€91,135 | |
| Legal reserve | 130 | €91,135 | - | -€91,135 | |
| Distributable reserves | 133 | €1,187,212 | €1,433,283 | +€246,070 | +20.7% |
| Amounts payable | 17/49 | €148,640 | €680,809 | +€532,169 | +358.0% |
| Amounts payable after more than one year | 17 | €25,065 | - | -€25,065 | |
| Financial debts | 170/4 | €25,000 | - | -€25,000 | |
| Other amounts payable | 178/9 | €65 | - | -€65 | |
| Amounts payable within one year | 42/48 | €123,375 | €680,809 | +€557,435 | +451.8% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €25,000 | -€75,000 | -75.0% |
| Trade debts | 44 | €1,513 | €117 | -€1,396 | -92.3% |
| Suppliers | 440/4 | €1,513 | €117 | -€1,396 | -92.3% |
| Taxes, remuneration and social security | 45 | €21,861 | €36,722 | +€14,861 | +68.0% |
| Taxes | 450/3 | €19,061 | €33,922 | +€14,861 | +78.0% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Other amounts payable | 47/48 | - | €618,970 | +€618,970 | |
| Accrued charges and deferred income | 492/3 | €200 | - | -€200 | |
| Remuneration, social security and pensions | 62 | €7,747 | €855 | -€6,892 | -89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,375 | €204,447 | +€82,072 | +67.1% |
| Other operating charges | 640/8 | €10,635 | €10,858 | +€223 | +2.1% |
| Gross operating margin | 9900 | €454,555 | €456,217 | +€1,662 | +0.4% |
| Operating profit (loss) | 9901 | €313,797 | €240,057 | -€73,740 | -23.5% |
| Financial income | 75/76B | €0 | €1,208 | +€1,208 | +12084000.0% |
| Recurring financial income | 75 | €0 | €65 | +€65 | +649900.0% |
| Non-recurring financial income | 76B | - | €1,143 | +€1,143 | |
| Financial charges | 65/66B | €3,439 | €33,683 | +€30,245 | +879.6% |
| Recurring financial charges | 65 | €3,439 | €33,683 | +€30,245 | +879.6% |
| Profit (loss) for the period before taxes | 9903 | €310,359 | €207,582 | -€102,777 | -33.1% |
| Income taxes | 67/77 | €78,213 | €52,647 | -€25,566 | -32.7% |
| Profit (loss) for the period | 9904 | €232,145 | €154,935 | -€77,210 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €232,145 | €154,935 | -€77,210 | -33.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.