SPACE LINE: 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
SPACE LINE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€74,461
2024 · €544,705-€619,166
Equity
€1.5m
2024 · €1.5m-€74,461
Cash
€7,167
2024 · €93,835-€86,668
Balance sheet total
€3.2m
2024 · €3.3m-€185,606
Largest movements
Assets
- Tangible fixed assets -€100,801
down €100,801 (-3.5%), from €2.9m to €2.8m
of which Land and buildings: -€95,352
- Cash -€86,668
down €86,668 (-92.4%), from €93,835 to €7,167
mainly Debts after one year (-€126,267) and Net result for the year (-€74,461)
Equity and liabilities
- Debts after one year -€126,267
down €126,267 (-20.1%), from €628,029 to €501,761
of which Other amounts payable: -€100,000
- Reserves -€52,898
down €52,898 (-3.0%), from €1.8m to €1.7m
of which Tax-exempt reserves: -€52,898
- Other debts +€35,904
up €35,904 (+73.0%), from €49,192 to €85,096
Income statement
- Gross operating margin -€828,519
down €828,519 (-93.3%), from €888,081 to €59,562
- Financial charges -€9,520
down €9,520 (-30.3%), from €31,432 to €21,912
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
€544,705
Gross operating margin
-€828,519
Depreciation
+€1,697
Other operating charges
-€4,488
Financial income
-€906
Financial charges
+€9,520
Taxes
+€6
Deferred taxes and other
+€203,523
Result 2025
-€74,461
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
+€50,592
Investment
-€20,560
Financing
-€116,700
Cash 2024
€93,835
From operations (derived)
+€50,592
Net result for the year
-€74,461
Depreciation
+€121,361
Receivables within one year
-€3,358
Deferred charges and accrued income
+€1,495
Provisions
-€27,238
Trade debts
-€3,104
Tax, wage and social debts
-€6
Other debts
+€35,904
Investment (derived)
-€20,560
Investment in fixed assets (net)
-€20,560
Financing
-€116,700
Debts after one year
-€126,267
Current portion of long-term debt
+€9,568
Cash 2025
€7,167
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,349,370 | €3,163,764 | -€185,606 | -5.5% |
| Fixed assets | 21/28 | €2,855,354 | €2,754,553 | -€100,801 | -3.5% |
| Tangible fixed assets | 22/27 | €2,855,032 | €2,754,232 | -€100,801 | -3.5% |
| Land and buildings | 22 | €2,762,997 | €2,667,645 | -€95,352 | -3.5% |
| Plant, machinery and equipment | 23 | €92,035 | €75,034 | -€17,002 | -18.5% |
| Furniture and vehicles | 24 | - | €11,553 | +€11,553 | |
| Financial fixed assets | 28 | €322 | €322 | = | 0.0% |
| Current assets | 29/58 | €494,016 | €409,211 | -€84,805 | -17.2% |
| Amounts receivable within one year | 40/41 | €398,007 | €401,366 | +€3,358 | +0.8% |
| Trade receivables | 40 | €259,321 | €263,584 | +€4,263 | +1.6% |
| Other amounts receivable | 41 | €138,687 | €137,782 | -€905 | -0.7% |
| Cash at bank and in hand | 54/58 | €93,835 | €7,167 | -€86,668 | -92.4% |
| Deferred charges and accrued income | 490/1 | €2,173 | €678 | -€1,495 | -68.8% |
| Total equity and liabilities | 10/49 | €3,349,370 | €3,163,764 | -€185,606 | -5.5% |
| Equity | 10/15 | €1,546,859 | €1,472,398 | -€74,461 | -4.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €1,751,380 | €1,698,482 | -€52,898 | -3.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,728,526 | €1,675,628 | -€52,898 | -3.1% |
| Distributable reserves | 133 | €19,755 | €19,755 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€269,521 | -€291,085 | -€21,563 | -8.0% |
| Provisions and deferred taxes | 16 | €778,712 | €751,474 | -€27,238 | -3.5% |
| Deferred taxes | 168 | €778,712 | €751,474 | -€27,238 | -3.5% |
| Amounts payable | 17/49 | €1,023,799 | €939,893 | -€83,906 | -8.2% |
| Amounts payable after more than one year | 17 | €628,029 | €501,761 | -€126,267 | -20.1% |
| Financial debts | 170/4 | €178,029 | €151,761 | -€26,267 | -14.8% |
| Other amounts payable | 178/9 | €450,000 | €350,000 | -€100,000 | -22.2% |
| Amounts payable within one year | 42/48 | €395,771 | €438,131 | +€42,361 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €27,964 | €37,532 | +€9,568 | +34.2% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €17,728 | €14,624 | -€3,104 | -17.5% |
| Suppliers | 440/4 | €17,728 | €14,624 | -€3,104 | -17.5% |
| Taxes, remuneration and social security | 45 | €885 | €879 | -€6 | -0.7% |
| Taxes | 450/3 | €885 | €879 | -€6 | -0.7% |
| Other amounts payable | 47/48 | €49,192 | €85,096 | +€35,904 | +73.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,057 | €121,361 | -€1,697 | -1.4% |
| Other operating charges | 640/8 | €13,252 | €17,740 | +€4,488 | +33.9% |
| Gross operating margin | 9900 | €888,081 | €59,562 | -€828,519 | -93.3% |
| Operating profit (loss) | 9901 | €751,772 | -€79,538 | -€831,310 | |
| Financial income | 75/76B | €906 | €0 | -€906 | -100.0% |
| Recurring financial income | 75 | €906 | €0 | -€906 | -100.0% |
| Financial charges | 65/66B | €31,432 | €21,912 | -€9,520 | -30.3% |
| Recurring financial charges | 65 | €31,432 | €21,912 | -€9,520 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €721,245 | -€101,450 | -€822,695 | |
| Transfer from deferred taxes | 780 | €28,103 | €27,238 | -€865 | -3.1% |
| Transfer to deferred taxes | 680 | €204,388 | - | -€204,388 | |
| Income taxes | 67/77 | €255 | €249 | -€6 | -2.5% |
| Profit (loss) for the period | 9904 | €544,705 | -€74,461 | -€619,166 | |
| Transfer from tax-exempt reserves | 789 | €54,578 | €52,898 | -€1,680 | -3.1% |
| Transfer to tax-exempt reserves | 689 | €613,164 | - | -€613,164 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,881 | -€21,563 | -€7,683 | -55.3% |
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 2 October 2026 via checked.be.