Substantia 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.
Substantia Properties
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€51,832
up €51,832 (+8.5%), from €612,686 to €664,517
- Debts after one year -€34,137
down €34,137 (-16.3%), from €209,413 to €175,276
- Profit (loss) carried forward -€20,005
down €20,005 (-14.6%), from -€137,357 to -€157,362
- Write-downs -€8,191
down €8,191 (-87.2%), from €9,391 to €1,200
- Gross operating margin +€3,513
up €3,513 (+23.6%), from €14,870 to €18,383
- Financial charges -€2,600
down €2,600 (-6.4%), from €40,935 to €38,336
- Other operating charges -€765
down €765 (-21.8%), from €3,512 to €2,748
- Financial income +€202
up €202 (+5.5%), from €3,693 to €3,895
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €756,687 | €758,704 | +€2,017 | +0.3% |
| Current assets | 29/58 | €756,687 | €758,704 | +€2,017 | +0.3% |
| Stocks and contracts in progress | 3 | €651,535 | €651,535 | = | 0.0% |
| Stocks | 30/36 | €651,535 | €651,535 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €97,157 | €99,538 | +€2,380 | +2.5% |
| Trade receivables | 40 | €348 | €0 | -€348 | -100.0% |
| Other amounts receivable | 41 | €96,809 | €99,538 | +€2,728 | +2.8% |
| Cash at bank and in hand | 54/58 | €5,864 | €5,191 | -€673 | -11.5% |
| Deferred charges and accrued income | 490/1 | €2,131 | €2,442 | +€310 | +14.6% |
| Total equity and liabilities | 10/49 | €756,687 | €758,704 | +€2,017 | +0.3% |
| Equity | 10/15 | -€116,897 | -€136,902 | -€20,005 | -17.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,357 | -€157,362 | -€20,005 | -14.6% |
| Amounts payable | 17/49 | €873,584 | €895,607 | +€22,022 | +2.5% |
| Amounts payable after more than one year | 17 | €209,413 | €175,276 | -€34,137 | -16.3% |
| Financial debts | 170/4 | €209,413 | €175,276 | -€34,137 | -16.3% |
| Amounts payable within one year | 42/48 | €649,063 | €704,537 | +€55,474 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €31,489 | €34,137 | +€2,648 | +8.4% |
| Trade debts | 44 | €4,439 | €5,883 | +€1,445 | +32.6% |
| Suppliers | 440/4 | €4,439 | €5,883 | +€1,445 | +32.6% |
| Advances received on contracts in progress | 46 | €450 | €0 | -€450 | -100.0% |
| Other amounts payable | 47/48 | €612,686 | €664,517 | +€51,832 | +8.5% |
| Accrued charges and deferred income | 492/3 | €15,109 | €15,793 | +€685 | +4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,391 | €1,200 | -€8,191 | -87.2% |
| Other operating charges | 640/8 | €3,512 | €2,748 | -€765 | -21.8% |
| Gross operating margin | 9900 | €14,870 | €18,383 | +€3,513 | +23.6% |
| Operating profit (loss) | 9901 | €1,967 | €14,436 | +€12,469 | +634.0% |
| Financial income | 75/76B | €3,693 | €3,895 | +€202 | +5.5% |
| Recurring financial income | 75 | €3,693 | €3,895 | +€202 | +5.5% |
| Financial charges | 65/66B | €40,935 | €38,336 | -€2,600 | -6.4% |
| Recurring financial charges | 65 | €40,935 | €38,336 | -€2,600 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€35,276 | -€20,005 | +€15,271 | +43.3% |
| Profit (loss) for the period | 9904 | -€35,276 | -€20,005 | +€15,271 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,276 | -€20,005 | +€15,271 | +43.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.