'T GOOD: 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
'T GOOD
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
€132,647
2024 · €55,570+€77,077
Equity
€1.9m
2024 · €1.9m-€20,437
Cash
€83,301
2024 · €87,525-€4,223
Balance sheet total
€2.0m
2024 · €2.1m-€86,748
Largest movements
Assets
- Tangible fixed assets -€37,620
down €37,620 (-3.6%), from €1.0m to €1.0m
- Receivables within one year -€26,250
down €26,250 (-58.3%), from €45,000 to €18,750
Equity and liabilities
- Other debts -€54,116
down €54,116 (-100.0%), from €54,116 to €0
Income statement
- Financial income +€86,197
up €86,197 (+123.5%), from €69,814 to €156,011
- Taxes +€7,708
up €7,708 (+138.7%), from €5,557 to €13,265
- Depreciation +€961
up €961 (+2.2%), from €44,638 to €45,600
- Gross operating margin -€685
down €685 (-1.5%), from €44,834 to €44,150
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
€55,570
Gross operating margin
-€685
Depreciation
-€961
Other operating charges
-€192
Financial income
+€86,197
Financial charges
+€426
Taxes
-€7,708
Result 2025
€132,647
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
+€158,539
Investment
+€10,771
Financing
-€173,533
Cash 2024
€87,525
From operations (derived)
+€158,539
Net result for the year
+€132,647
Depreciation
+€45,600
Receivables within one year
+€26,250
Smaller working-capital items
-€101
Tax, wage and social debts
+€9,298
Other debts
-€54,116
Accrued charges and deferred income
-€1,038
Investment (derived)
+€10,771
Investment in fixed assets (net)
+€10,771
Financing
-€173,533
Debts after one year
-€20,884
Current portion of long-term debt
+€435
Contributions, distributions and other
-€153,084
Cash 2025
€83,301
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,107,992 | €2,021,244 | -€86,748 | -4.1% |
| Fixed assets | 21/28 | €1,574,427 | €1,518,057 | -€56,370 | -3.6% |
| Tangible fixed assets | 22/27 | €1,038,631 | €1,001,011 | -€37,620 | -3.6% |
| Land and buildings | 22 | €1,038,631 | €1,001,011 | -€37,620 | -3.6% |
| Financial fixed assets | 28 | €535,796 | €517,046 | -€18,750 | -3.5% |
| Current assets | 29/58 | €533,564 | €503,187 | -€30,377 | -5.7% |
| Amounts receivable within one year | 40/41 | €45,000 | €18,750 | -€26,250 | -58.3% |
| Other amounts receivable | 41 | €45,000 | €18,750 | -€26,250 | -58.3% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €87,525 | €83,301 | -€4,223 | -4.8% |
| Deferred charges and accrued income | 490/1 | €1,040 | €1,135 | +€96 | +9.2% |
| Total equity and liabilities | 10/49 | €2,107,992 | €2,021,244 | -€86,748 | -4.1% |
| Equity | 10/15 | €1,902,874 | €1,882,437 | -€20,437 | -1.1% |
| Contributions | 10/11 | €827,634 | €827,634 | = | 0.0% |
| Reserves | 13 | €1,075,240 | €1,054,803 | -€20,437 | -1.9% |
| Distributable reserves | 133 | €1,075,240 | €1,054,803 | -€20,437 | -1.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €205,118 | €138,807 | -€66,311 | -32.3% |
| Amounts payable after more than one year | 17 | €126,323 | €105,438 | -€20,884 | -16.5% |
| Financial debts | 170/4 | €126,323 | €105,438 | -€20,884 | -16.5% |
| Amounts payable within one year | 42/48 | €76,137 | €31,749 | -€44,388 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €20,449 | €20,884 | +€435 | +2.1% |
| Trade debts | 44 | €72 | €66 | -€6 | -7.9% |
| Suppliers | 440/4 | €72 | €66 | -€6 | -7.9% |
| Taxes, remuneration and social security | 45 | €1,499 | €10,798 | +€9,298 | +620.1% |
| Taxes | 450/3 | €1,499 | €10,798 | +€9,298 | +620.1% |
| Other amounts payable | 47/48 | €54,116 | €0 | -€54,116 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,658 | €1,620 | -€1,038 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,638 | €45,600 | +€961 | +2.2% |
| Other operating charges | 640/8 | €5,483 | €5,675 | +€192 | +3.5% |
| Gross operating margin | 9900 | €44,834 | €44,150 | -€685 | -1.5% |
| Operating profit (loss) | 9901 | -€5,287 | -€7,125 | -€1,838 | -34.8% |
| Financial income | 75/76B | €69,814 | €156,011 | +€86,197 | +123.5% |
| Recurring financial income | 75 | €69,814 | €156,011 | +€86,197 | +123.5% |
| Financial charges | 65/66B | €3,401 | €2,975 | -€426 | -12.5% |
| Recurring financial charges | 65 | €3,401 | €2,975 | -€426 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €61,127 | €145,911 | +€84,785 | +138.7% |
| Income taxes | 67/77 | €5,557 | €13,265 | +€7,708 | +138.7% |
| Profit (loss) for the period | 9904 | €55,570 | €132,647 | +€77,077 | +138.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,570 | €132,647 | +€77,077 | +138.7% |
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 9 October 2026 via checked.be.