SCHAU: 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
SCHAU
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€79,891
2024 · -€69,446-€10,446
Equity
€3.0m
2024 · €3.1m-€179,891
Cash
€218,321
2024 · €165,557+€52,764
Balance sheet total
€14.1m
2024 · €14.3m-€230,236
Largest movements
Assets
- Tangible fixed assets -€411,931
down €411,931 (-3.1%), from €13.4m to €13.0m
of which Land and buildings: -€433,119
Equity and liabilities
- Reserves -€172,069
down €172,069 (-5.7%), from €3.0m to €2.8m
of which Tax-exempt reserves: -€172,069
Income statement
- Financial charges +€72,864
up €72,864 (+32.4%), from €224,682 to €297,546
- Gross operating margin +€49,486
up €49,486 (+4.7%), from €1.0m to €1.1m
- Other operating charges -€17,306
down €17,306 (-14.4%), from €120,587 to €103,281
- Depreciation +€11,065
up €11,065 (+1.7%), from €657,688 to €668,753
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
-€69,446
Gross operating margin
+€49,486
Staff costs
+€3,293
Depreciation
-€11,065
Other operating charges
+€17,306
Financial income
-€764
Financial charges
-€72,864
Taxes
+€4,023
Deferred taxes and other
+€139
Result 2025
-€79,891
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
+€477,120
Investment
-€256,821
Financing
-€167,535
Cash 2024
€165,557
From operations (derived)
+€477,120
Net result for the year
-€79,891
Depreciation
+€668,753
Receivables within one year
-€84,094
Deferred charges and accrued income
-€44,838
Provisions
-€57,356
Trade debts
+€21,447
Tax, wage and social debts
-€32,344
Advances received
+€52,743
Other debts
+€32,700
Investment (derived)
-€256,821
Investment in fixed assets (net)
-€256,821
Financing
-€167,535
Debts after one year
-€79,398
Current portion of long-term debt
+€11,863
Contributions, distributions and other
-€100,000
Cash 2025
€218,321
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,313,451 | €14,083,215 | -€230,236 | -1.6% |
| Fixed assets | 21/28 | €13,424,848 | €13,012,917 | -€411,931 | -3.1% |
| Tangible fixed assets | 22/27 | €13,424,848 | €13,012,917 | -€411,931 | -3.1% |
| Land and buildings | 22 | €13,343,622 | €12,910,503 | -€433,119 | -3.2% |
| Plant, machinery and equipment | 23 | €38,724 | €74,725 | +€36,001 | +93.0% |
| Furniture and vehicles | 24 | €42,503 | €27,689 | -€14,814 | -34.9% |
| Current assets | 29/58 | €888,602 | €1,070,298 | +€181,696 | +20.4% |
| Amounts receivable within one year | 40/41 | €717,014 | €801,108 | +€84,094 | +11.7% |
| Trade receivables | 40 | €265,651 | €344,112 | +€78,462 | +29.5% |
| Other amounts receivable | 41 | €451,363 | €456,996 | +€5,632 | +1.2% |
| Cash at bank and in hand | 54/58 | €165,557 | €218,321 | +€52,764 | +31.9% |
| Deferred charges and accrued income | 490/1 | €6,031 | €50,869 | +€44,838 | +743.4% |
| Total equity and liabilities | 10/49 | €14,313,451 | €14,083,215 | -€230,236 | -1.6% |
| Equity | 10/15 | €3,130,635 | €2,950,743 | -€179,891 | -5.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €3,008,767 | €2,836,698 | -€172,069 | -5.7% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,006,867 | €2,834,798 | -€172,069 | -5.7% |
| Profit (loss) carried forward | 14 | €102,868 | €95,046 | -€7,822 | -7.6% |
| Provisions and deferred taxes | 16 | €1,002,289 | €944,933 | -€57,356 | -5.7% |
| Deferred taxes | 168 | €1,002,289 | €944,933 | -€57,356 | -5.7% |
| Amounts payable | 17/49 | €10,180,527 | €10,187,539 | +€7,012 | +0.1% |
| Amounts payable after more than one year | 17 | €2,072,207 | €1,992,810 | -€79,398 | -3.8% |
| Financial debts | 170/4 | €2,072,207 | €1,992,810 | -€79,398 | -3.8% |
| Amounts payable within one year | 42/48 | €8,108,320 | €8,194,730 | +€86,410 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €360,417 | €372,280 | +€11,863 | +3.3% |
| Financial debts | 43 | €7,401,000 | €7,401,000 | = | 0.0% |
| Credit institutions | 430/8 | €7,401,000 | €7,401,000 | = | 0.0% |
| Trade debts | 44 | €191,912 | €213,360 | +€21,447 | +11.2% |
| Suppliers | 440/4 | €191,912 | €213,360 | +€21,447 | +11.2% |
| Advances received on contracts in progress | 46 | - | €52,743 | +€52,743 | |
| Taxes, remuneration and social security | 45 | €54,991 | €22,647 | -€32,344 | -58.8% |
| Taxes | 450/3 | €53,184 | €22,235 | -€30,949 | -58.2% |
| Remuneration and social security | 454/9 | €1,806 | €412 | -€1,395 | -77.2% |
| Other amounts payable | 47/48 | €100,000 | €132,700 | +€32,700 | +32.7% |
| Non-recurring operating income | 76A | - | €1,025 | +€1,025 | |
| Remuneration, social security and pensions | 62 | €151,151 | €147,858 | -€3,293 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €657,688 | €668,753 | +€11,065 | +1.7% |
| Other operating charges | 640/8 | €120,587 | €103,281 | -€17,306 | -14.4% |
| Gross operating margin | 9900 | €1,048,720 | €1,098,206 | +€49,486 | +4.7% |
| Operating profit (loss) | 9901 | €119,293 | €178,314 | +€59,021 | +49.5% |
| Financial income | 75/76B | €14,107 | €13,343 | -€764 | -5.4% |
| Recurring financial income | 75 | €14,107 | €13,343 | -€764 | -5.4% |
| Financial charges | 65/66B | €224,682 | €297,546 | +€72,864 | +32.4% |
| Recurring financial charges | 65 | €224,682 | €297,546 | +€72,864 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | -€91,281 | -€105,888 | -€14,607 | -16.0% |
| Transfer from deferred taxes | 780 | €57,218 | €57,356 | +€139 | +0.2% |
| Income taxes | 67/77 | €35,382 | €31,360 | -€4,023 | -11.4% |
| Profit (loss) for the period | 9904 | -€69,446 | -€79,891 | -€10,446 | -15.0% |
| Transfer from tax-exempt reserves | 789 | €171,653 | €172,069 | +€417 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,207 | €92,178 | -€10,029 | -9.8% |
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 29 September 2026 via checked.be.