STAPIMMO: 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
STAPIMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€195,503
2024 · €23,349+€172,155
Equity
€223,115
2024 · €27,612+€195,503
Cash
€3,178
2024 · €2,470+€708
Balance sheet total
€2.8m
2024 · €3.0m-€156,738
Largest movements
Assets
- Tangible fixed assets -€148,726
down €148,726 (-5.1%), from €2.9m to €2.8m
of which Land and buildings: -€257,123
Equity and liabilities
- Profit (loss) carried forward +€211,863
up €211,863 (+57.5%), from -€368,686 to -€156,823
- Other debts -€173,687
down €173,687 (-13.1%), from €1.3m to €1.1m
- Short-term financial debts -€160,577
down €160,577 (-10.3%), from €1.6m to €1.4m
Income statement
- Gross operating margin +€181,955
up €181,955 (+84.8%), from €214,654 to €396,609
- Financial charges +€7,546
up €7,546 (+10.7%), from €70,341 to €77,887
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
€23,349
Gross operating margin
+€181,955
Depreciation
-€1,924
Other operating charges
-€293
Financial income
-€38
Financial charges
-€7,546
Result 2025
€195,503
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
+€110,207
Investment
+€51,078
Financing
-€160,577
Cash 2024
€2,470
From operations (derived)
+€110,207
Net result for the year
+€195,503
Depreciation
+€97,649
Receivables within one year
+€8,719
Trade debts
-€9,587
Tax, wage and social debts
-€848
Other debts
-€173,687
Accrued charges and deferred income
-€7,542
Investment (derived)
+€51,078
Investment in fixed assets (net)
+€51,078
Financing
-€160,577
Short-term financial debts
-€160,577
Cash 2025
€3,178
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,951,790 | €2,795,052 | -€156,738 | -5.3% |
| Fixed assets | 21/28 | €2,928,847 | €2,780,121 | -€148,726 | -5.1% |
| Tangible fixed assets | 22/27 | €2,928,847 | €2,780,121 | -€148,726 | -5.1% |
| Land and buildings | 22 | €2,907,448 | €2,650,325 | -€257,123 | -8.8% |
| Plant, machinery and equipment | 23 | €21,400 | €129,796 | +€108,397 | +506.5% |
| Current assets | 29/58 | €22,943 | €14,931 | -€8,011 | -34.9% |
| Amounts receivable within one year | 40/41 | €20,473 | €11,754 | -€8,719 | -42.6% |
| Trade receivables | 40 | €20,473 | €11,347 | -€9,126 | -44.6% |
| Other amounts receivable | 41 | - | €407 | +€407 | |
| Cash at bank and in hand | 54/58 | €2,470 | €3,178 | +€708 | +28.6% |
| Total equity and liabilities | 10/49 | €2,951,790 | €2,795,052 | -€156,738 | -5.3% |
| Equity | 10/15 | €27,612 | €223,115 | +€195,503 | +708.0% |
| Contributions | 10/11 | €61,600 | €61,600 | = | 0.0% |
| Capital | 10 | €61,600 | €61,600 | = | 0.0% |
| Issued capital | 100 | €61,600 | €61,600 | = | 0.0% |
| Reserves | 13 | €334,698 | €318,338 | -€16,360 | -4.9% |
| Non-distributable reserves | 130/1 | €6,160 | €6,160 | = | 0.0% |
| Legal reserve | 130 | €6,160 | €6,160 | = | 0.0% |
| Tax-exempt reserves | 132 | €326,538 | €310,178 | -€16,360 | -5.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€368,686 | -€156,823 | +€211,863 | +57.5% |
| Amounts payable | 17/49 | €2,924,178 | €2,571,937 | -€352,241 | -12.0% |
| Amounts payable within one year | 42/48 | €2,899,258 | €2,554,559 | -€344,699 | -11.9% |
| Financial debts | 43 | €1,563,919 | €1,403,342 | -€160,577 | -10.3% |
| Credit institutions | 430/8 | €1,563,919 | €1,403,342 | -€160,577 | -10.3% |
| Trade debts | 44 | €9,587 | - | -€9,587 | |
| Suppliers | 440/4 | €9,587 | - | -€9,587 | |
| Taxes, remuneration and social security | 45 | €4,904 | €4,057 | -€848 | -17.3% |
| Taxes | 450/3 | €4,904 | €4,057 | -€848 | -17.3% |
| Other amounts payable | 47/48 | €1,320,847 | €1,147,160 | -€173,687 | -13.1% |
| Accrued charges and deferred income | 492/3 | €24,919 | €17,378 | -€7,542 | -30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,725 | €97,649 | +€1,924 | +2.0% |
| Other operating charges | 640/8 | €25,277 | €25,570 | +€293 | +1.2% |
| Gross operating margin | 9900 | €214,654 | €396,609 | +€181,955 | +84.8% |
| Operating profit (loss) | 9901 | €93,652 | €273,391 | +€179,738 | +191.9% |
| Financial income | 75/76B | €38 | - | -€38 | |
| Recurring financial income | 75 | €38 | - | -€38 | |
| Financial charges | 65/66B | €70,341 | €77,887 | +€7,546 | +10.7% |
| Recurring financial charges | 65 | €70,341 | €77,887 | +€7,546 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €23,349 | €195,503 | +€172,155 | +737.3% |
| Profit (loss) for the period | 9904 | €23,349 | €195,503 | +€172,155 | +737.3% |
| Transfer from tax-exempt reserves | 789 | €16,360 | €16,360 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,709 | €211,863 | +€172,155 | +433.5% |
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 11 October 2026 via checked.be.