SIGEST: 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
SIGEST
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€7,424
2024 · -€2,071-€5,352
Equity
€1.8m
2024 · €1.8m-€7,424
Cash
€18,943
2024 · €12,093+€6,850
Balance sheet total
€2.6m
2024 · €2.7m-€90,814
Largest movements
Assets
- Tangible fixed assets -€108,581
down €108,581 (-4.0%), from €2.7m to €2.6m
of which Land and buildings: -€106,775
Equity and liabilities
- Other debts -€44,013
down €44,013 (-10.5%), from €418,649 to €374,635
- Reserves -€35,253
down €35,253 (-4.9%), from €718,791 to €683,539
of which Tax-exempt reserves: -€36,717
- Profit (loss) carried forward +€27,829
up €27,829, from -€23,938 to €3,891
Income statement
- Gross operating margin +€15,818
up €15,818 (+14.3%), from €110,623 to €126,441
- Depreciation -€11,848
down €11,848 (-9.5%), from €124,981 to €113,134
- Financial income -€3,841
down €3,841 (-98.4%), from €3,902 to €61
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
-€2,071
Gross operating margin
+€15,818
Depreciation
+€11,848
Other operating charges
-€1,030
Other operating items
-€11
Financial income
-€3,841
Financial charges
+€485
Deferred taxes and other
-€28,620
Result 2025
-€7,424
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
+€48,365
Investment
-€15,595
Financing
-€25,920
Cash 2024
€12,093
From operations (derived)
+€48,365
Net result for the year
-€7,424
Depreciation
+€113,134
Receivables within one year
-€428
Deferred charges and accrued income
+€553
Provisions
-€18,568
Trade debts
+€3,109
Tax, wage and social debts
+€1,277
Other debts
-€44,013
Accrued charges and deferred income
+€725
Investment (derived)
-€15,595
Investment in fixed assets (net)
-€4,553
Current investments
-€11,042
Financing
-€25,920
Debts after one year
-€26,410
Current portion of long-term debt
+€490
Cash 2025
€18,943
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,722,459 | €2,631,645 | -€90,814 | -3.3% |
| Fixed assets | 21/28 | €2,695,830 | €2,587,249 | -€108,581 | -4.0% |
| Tangible fixed assets | 22/27 | €2,693,628 | €2,585,048 | -€108,581 | -4.0% |
| Land and buildings | 22 | €2,688,612 | €2,581,837 | -€106,775 | -4.0% |
| Plant, machinery and equipment | 23 | €5,016 | €3,211 | -€1,805 | -36.0% |
| Financial fixed assets | 28 | €2,201 | €2,201 | = | 0.0% |
| Current assets | 29/58 | €26,629 | €44,396 | +€17,767 | +66.7% |
| Amounts receivable within one year | 40/41 | €1,876 | €2,304 | +€428 | +22.8% |
| Other amounts receivable | 41 | €1,876 | €2,304 | +€428 | +22.8% |
| Current investments | 50/53 | €7,294 | €18,336 | +€11,042 | +151.4% |
| Cash at bank and in hand | 54/58 | €12,093 | €18,943 | +€6,850 | +56.6% |
| Deferred charges and accrued income | 490/1 | €5,366 | €4,813 | -€553 | -10.3% |
| Total equity and liabilities | 10/49 | €2,722,459 | €2,631,645 | -€90,814 | -3.3% |
| Equity | 10/15 | €1,835,354 | €1,827,930 | -€7,424 | -0.4% |
| Contributions | 10/11 | €1,140,500 | €1,140,500 | = | 0.0% |
| Capital | 10 | €1,140,500 | €1,140,500 | = | 0.0% |
| Issued capital | 100 | €1,140,500 | €1,140,500 | = | 0.0% |
| Reserves | 13 | €718,791 | €683,539 | -€35,253 | -4.9% |
| Non-distributable reserves | 130/1 | €20,285 | €21,749 | +€1,465 | +7.2% |
| Legal reserve | 130 | €19,764 | €21,229 | +€1,465 | +7.4% |
| Reserves not available under the articles | 1311 | €520 | €520 | = | 0.0% |
| Tax-exempt reserves | 132 | €698,507 | €661,789 | -€36,717 | -5.3% |
| Profit (loss) carried forward | 14 | -€23,938 | €3,891 | +€27,829 | |
| Provisions and deferred taxes | 16 | €349,808 | €331,240 | -€18,568 | -5.3% |
| Deferred taxes | 168 | €349,808 | €331,240 | -€18,568 | -5.3% |
| Amounts payable | 17/49 | €537,298 | €472,476 | -€64,822 | -12.1% |
| Amounts payable after more than one year | 17 | €66,965 | €40,554 | -€26,410 | -39.4% |
| Financial debts | 170/4 | €66,965 | €40,554 | -€26,410 | -39.4% |
| Amounts payable within one year | 42/48 | €445,608 | €406,471 | -€39,137 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €25,920 | €26,410 | +€490 | +1.9% |
| Trade debts | 44 | €179 | €3,288 | +€3,109 | +1734.0% |
| Suppliers | 440/4 | €179 | €3,288 | +€3,109 | +1734.0% |
| Taxes, remuneration and social security | 45 | €861 | €2,137 | +€1,277 | +148.4% |
| Taxes | 450/3 | €861 | €1,137 | +€277 | +32.2% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €418,649 | €374,635 | -€44,013 | -10.5% |
| Accrued charges and deferred income | 492/3 | €24,725 | €25,450 | +€725 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,981 | €113,134 | -€11,848 | -9.5% |
| Other operating charges | 640/8 | €15,600 | €16,630 | +€1,030 | +6.6% |
| Non-recurring operating charges | 66A | €63 | €74 | +€11 | +17.9% |
| Gross operating margin | 9900 | €110,623 | €126,441 | +€15,818 | +14.3% |
| Operating profit (loss) | 9901 | -€30,022 | -€3,397 | +€26,624 | +88.7% |
| Financial income | 75/76B | €3,902 | €61 | -€3,841 | -98.4% |
| Recurring financial income | 75 | €3,902 | €61 | -€3,841 | -98.4% |
| Financial charges | 65/66B | €23,140 | €22,655 | -€485 | -2.1% |
| Recurring financial charges | 65 | €23,140 | €22,655 | -€485 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€49,260 | -€25,992 | +€23,268 | +47.2% |
| Transfer from deferred taxes | 780 | €47,188 | €18,568 | -€28,620 | -60.7% |
| Profit (loss) for the period | 9904 | -€2,071 | -€7,424 | -€5,352 | -258.4% |
| Transfer from tax-exempt reserves | 789 | €92,219 | €36,717 | -€55,501 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,147 | €29,294 | -€60,854 | -67.5% |
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 8 October 2026 via checked.be.