Senior Housing: 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
Senior Housing
NACE 68.202, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€125,511
2024 · €927,166-€801,655
Equity
€25.0m
2024 · €24.9m+€125,511
Cash
€465,631
2024 · €2.8m-€2.4m
Balance sheet total
€95.5m
2024 · €101.8m-€6.3m
Largest movements
Assets
- Tangible fixed assets -€5.3m
down €5.3m (-6.0%), from €87.8m to €82.5m
of which Land and buildings: -€5.3m
- Cash -€2.4m
down €2.4m (-83.5%), from €2.8m to €465,631
mainly Debts after one year (-€7.9m) and Receivables within one year (-€1.5m)
- Receivables within one year +€1.5m
up €1.5m (+61.6%), from €2.4m to €3.9m
of which Other amounts receivable: +€1.2m
Equity and liabilities
- Debts after one year -€7.9m
down €7.9m (-10.8%), from €72.7m to €64.8m
Income statement
- Gross operating margin -€1.2m
down €1.2m (-13.2%), from €8.8m to €7.6m
- Depreciation -€293,437
down €293,437 (-7.8%), from €3.8m to €3.5m
- Financial charges -€268,452
down €268,452 (-6.9%), from €3.9m to €3.6m
- Purchases and services +€240,344
up €240,344 (+93.4%), from €257,438 to €497,782
- Turnover -€169,245
down €169,245 (-2.0%), from €8.3m to €8.1m
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
€927,166
Gross operating margin
-€1.2m
Depreciation
+€293,437
Other operating charges
-€33
Other operating items
-€159,794
Financial income
-€41,075
Financial charges
+€268,452
Result 2025
€125,511
raises the resultlowers the resultnot broken down further in the accounts
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
+€2.7m
Investment
+€1.8m
Financing
-€6.9m
Cash 2024
€2.8m
From operations (derived)
+€2.7m
Net result for the year
+€125,511
Depreciation
+€3.5m
Receivables within one year
-€1.5m
Deferred charges and accrued income
+€62,414
Trade debts
+€506,981
Smaller working-capital items
-€1,616
Investment (derived)
+€1.8m
Investment in fixed assets (net)
+€1.8m
Financing
-€6.9m
Debts after one year
-€7.9m
Current portion of long-term debt
+€116,549
Short-term financial debts
+€863,418
Cash 2025
€465,631
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,768,411 | €95,514,472 | -€6.3m | -6.1% |
| Formation expenses | 20 | €1,514 | €1,514 | = | 0.0% |
| Fixed assets | 21/28 | €87,815,931 | €82,508,043 | -€5.3m | -6.0% |
| Tangible fixed assets | 22/27 | €87,815,931 | €82,508,043 | -€5.3m | -6.0% |
| Land and buildings | 22 | €87,786,440 | €82,478,551 | -€5.3m | -6.0% |
| Assets under construction and advance payments | 27 | €29,491 | €29,491 | = | 0.0% |
| Current assets | 29/58 | €13,950,966 | €13,004,915 | -€946,051 | -6.8% |
| Amounts receivable after more than one year | 29 | €7,500,000 | €7,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,500,000 | €7,500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,395,822 | €3,870,631 | +€1.5m | +61.6% |
| Trade receivables | 40 | - | €259,838 | +€259,838 | |
| Other amounts receivable | 41 | €2,395,822 | €3,610,793 | +€1.2m | +50.7% |
| Cash at bank and in hand | 54/58 | €2,824,077 | €465,631 | -€2.4m | -83.5% |
| Deferred charges and accrued income | 490/1 | €1,231,067 | €1,168,653 | -€62,414 | -5.1% |
| Total equity and liabilities | 10/49 | €101,768,411 | €95,514,472 | -€6.3m | -6.1% |
| Equity | 10/15 | €24,865,070 | €24,990,581 | +€125,511 | +0.5% |
| Contributions | 10/11 | €6,327,769 | €6,327,769 | = | 0.0% |
| Capital | 10 | €6,327,769 | €6,327,769 | = | 0.0% |
| Issued capital | 100 | €6,327,769 | €6,327,769 | = | 0.0% |
| Revaluation surpluses | 12 | €11,117,416 | €11,117,416 | = | 0.0% |
| Reserves | 13 | €632,777 | €632,777 | = | 0.0% |
| Non-distributable reserves | 130/1 | €632,777 | €632,777 | = | 0.0% |
| Legal reserve | 130 | €632,777 | €632,777 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,787,107 | €6,912,618 | +€125,511 | +1.8% |
| Amounts payable | 17/49 | €76,903,341 | €70,523,891 | -€6.4m | -8.3% |
| Amounts payable after more than one year | 17 | €72,673,210 | €64,808,427 | -€7.9m | -10.8% |
| Financial debts | 170/4 | €72,673,210 | €64,808,427 | -€7.9m | -10.8% |
| Amounts payable within one year | 42/48 | €4,039,420 | €5,526,368 | +€1.5m | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €3,851,407 | €3,967,956 | +€116,549 | +3.0% |
| Financial debts | 43 | €151,595 | €1,015,013 | +€863,418 | +570% |
| Other loans | 439 | €151,595 | €1,015,013 | +€863,418 | +570% |
| Trade debts | 44 | €36,287 | €543,268 | +€506,981 | +1,397% |
| Suppliers | 440/4 | €36,287 | €543,268 | +€506,981 | +1,397% |
| Taxes, remuneration and social security | 45 | €131 | €131 | -€0 | 0.0% |
| Taxes | 450/3 | €131 | €131 | -€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €190,712 | €189,096 | -€1,616 | -0.8% |
| Turnover | 70 | €8,300,789 | €8,131,544 | -€169,245 | -2.0% |
| Non-recurring operating income | 76A | €756,902 | - | -€756,902 | |
| Goods, raw materials, services and sundry goods | 60/61 | €257,438 | €497,782 | +€240,344 | +93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,760,775 | €3,467,338 | -€293,437 | -7.8% |
| Other operating charges | 640/8 | €1,161 | €1,193 | +€33 | +2.8% |
| Non-recurring operating charges | 66A | €440,757 | €600,551 | +€159,794 | +36.3% |
| Gross operating margin | 9900 | €8,800,253 | €7,637,610 | -€1.2m | -13.2% |
| Operating profit (loss) | 9901 | €4,597,560 | €3,568,528 | -€1.0m | -22.4% |
| Financial income | 75/76B | €239,309 | €198,234 | -€41,075 | -17.2% |
| Recurring financial income | 75 | €239,309 | €198,234 | -€41,075 | -17.2% |
| Financial charges | 65/66B | €3,909,703 | €3,641,251 | -€268,452 | -6.9% |
| Recurring financial charges | 65 | €3,909,703 | €3,641,251 | -€268,452 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €927,166 | €125,511 | -€801,655 | -86.5% |
| Profit (loss) for the period | 9904 | €927,166 | €125,511 | -€801,655 | -86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €927,166 | €125,511 | -€801,655 | -86.5% |
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 31 October 2026 via checked.be.