STALE PROPERTIES: 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
STALE PROPERTIES
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€45,763
2024 · €68,223-€22,460
Equity
€5.3m
2024 · €5.3m+€45,763
Cash
€2,825
2024 · €2,805+€20
Balance sheet total
€6.9m
2024 · €7.1m-€183,011
Largest movements
Assets
- Receivables within one year -€121,419
down €121,419 (-6.4%), from €1.9m to €1.8m
Equity and liabilities
- Current portion of long-term debt -€152,225
down €152,225 (-54.4%), from €279,892 to €127,667
- Debts after one year -€127,667
down €127,667 (-28.5%), from €447,363 to €319,696
Income statement
- Gross operating margin -€23,320
down €23,320 (-10.5%), from €222,916 to €199,596
- Taxes -€5,522
down €5,522 (-24.3%), from €22,741 to €17,219
- Financial income -€2,566
down €2,566 (-8.5%), from €30,233 to €27,666
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
€68,223
Gross operating margin
-€23,320
Depreciation
+€0
Other operating charges
-€767
Financial income
-€2,566
Financial charges
-€1,328
Taxes
+€5,522
Result 2025
€45,763
raises the resultlowers the result
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
+€279,932
Investment
€0
Financing
-€279,912
Cash 2024
€2,805
From operations (derived)
+€279,932
Net result for the year
+€45,763
Depreciation
+€61,613
Receivables within one year
+€121,419
Smaller working-capital items
+€53
Other debts
+€51,085
Financing
-€279,912
Debts after one year
-€127,667
Current portion of long-term debt
-€152,225
Short-term financial debts
-€20
Cash 2025
€2,825
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,094,123 | €6,911,111 | -€183,011 | -2.6% |
| Fixed assets | 21/28 | €5,183,028 | €5,121,416 | -€61,613 | -1.2% |
| Tangible fixed assets | 22/27 | €5,003,028 | €4,941,416 | -€61,613 | -1.2% |
| Land and buildings | 22 | €5,003,028 | €4,941,416 | -€61,613 | -1.2% |
| Financial fixed assets | 28 | €180,000 | €180,000 | = | 0.0% |
| Current assets | 29/58 | €1,911,094 | €1,789,696 | -€121,399 | -6.4% |
| Amounts receivable within one year | 40/41 | €1,908,290 | €1,786,871 | -€121,419 | -6.4% |
| Other amounts receivable | 41 | €1,908,290 | €1,786,871 | -€121,419 | -6.4% |
| Cash at bank and in hand | 54/58 | €2,805 | €2,825 | +€20 | +0.7% |
| Total equity and liabilities | 10/49 | €7,094,123 | €6,911,111 | -€183,011 | -2.6% |
| Equity | 10/15 | €5,257,689 | €5,303,453 | +€45,763 | +0.9% |
| 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% |
| Revaluation surpluses | 12 | €4,576,844 | €4,576,844 | = | 0.0% |
| Reserves | 13 | €182,483 | €182,483 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,969 | €6,969 | = | 0.0% |
| Legal reserve | 130 | €6,969 | €6,969 | = | 0.0% |
| Distributable reserves | 133 | €175,513 | €175,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | €433,363 | €479,126 | +€45,763 | +10.6% |
| Amounts payable | 17/49 | €1,836,433 | €1,607,659 | -€228,774 | -12.5% |
| Amounts payable after more than one year | 17 | €447,363 | €319,696 | -€127,667 | -28.5% |
| Financial debts | 170/4 | €447,363 | €319,696 | -€127,667 | -28.5% |
| Amounts payable within one year | 42/48 | €1,388,748 | €1,287,733 | -€101,015 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €279,892 | €127,667 | -€152,225 | -54.4% |
| Financial debts | 43 | €6,756 | €6,736 | -€20 | -0.3% |
| Credit institutions | 430/8 | €6,756 | €6,736 | -€20 | -0.3% |
| Taxes, remuneration and social security | 45 | €5,877 | €6,023 | +€146 | +2.5% |
| Taxes | 450/3 | €5,877 | €6,023 | +€146 | +2.5% |
| Other amounts payable | 47/48 | €1,096,222 | €1,147,307 | +€51,085 | +4.7% |
| Accrued charges and deferred income | 492/3 | €323 | €230 | -€92 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,613 | €61,613 | -€0 | 0.0% |
| Other operating charges | 640/8 | €24,607 | €25,373 | +€767 | +3.1% |
| Gross operating margin | 9900 | €222,916 | €199,596 | -€23,320 | -10.5% |
| Operating profit (loss) | 9901 | €136,697 | €112,610 | -€24,087 | -17.6% |
| Financial income | 75/76B | €30,233 | €27,666 | -€2,566 | -8.5% |
| Recurring financial income | 75 | €30,233 | €27,666 | -€2,566 | -8.5% |
| Financial charges | 65/66B | €75,965 | €77,293 | +€1,328 | +1.7% |
| Recurring financial charges | 65 | €75,965 | €77,293 | +€1,328 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €90,964 | €62,982 | -€27,982 | -30.8% |
| Income taxes | 67/77 | €22,741 | €17,219 | -€5,522 | -24.3% |
| Profit (loss) for the period | 9904 | €68,223 | €45,763 | -€22,460 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,223 | €45,763 | -€22,460 | -32.9% |
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 19 October 2026 via checked.be.