THE LOFTHOUSE: 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
THE LOFTHOUSE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€193,337
2024 · €141,122+€52,215
Equity
€3.5m
2024 · €3.3m+€193,337
Cash
€15,484
2024 · €5,507+€9,977
Balance sheet total
€4.7m
2024 · €5.0m-€367,894
Largest movements
Assets
- Tangible fixed assets -€390,925
down €390,925 (-8.6%), from €4.5m to €4.1m
of which Land and buildings: -€390,680
Equity and liabilities
- Profit (loss) carried forward +€408,581
up €408,581 (+1,159%), from €35,266 to €443,847
- Debts after one year -€218,758
down €218,758 (-45.8%), from €477,589 to €258,830
- Reserves -€215,244
down €215,244 (-7.6%), from €2.8m to €2.6m
of which Tax-exempt reserves: -€215,244
- Other debts -€139,402
down €139,402 (-16.7%), from €834,113 to €694,711
- Trade debts -€62,643
down €62,643 (-61.9%), from €101,158 to €38,515
Income statement
- Gross operating margin +€76,730
up €76,730 (+13.6%), from €563,896 to €640,627
- Taxes +€32,104
up €32,104 (+31.2%), from €102,810 to €134,914
- Financial charges -€13,202
down €13,202 (-21.0%), from €62,954 to €49,752
- Other operating charges +€9,810
up €9,810 (+16.2%), from €60,726 to €70,536
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
€141,122
Gross operating margin
+€76,730
Staff costs
+€6,210
Depreciation
-€4,886
Other operating charges
-€9,810
Financial income
+€2,873
Financial charges
+€13,202
Taxes
-€32,104
Result 2025
€193,337
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
+€23,102
Investment
+€240,653
Financing
-€253,778
Cash 2024
€5,507
From operations (derived)
+€23,102
Net result for the year
+€193,337
Depreciation
+€154,772
Receivables within one year
-€9,368
Deferred charges and accrued income
-€8,186
Trade debts
-€62,643
Tax, wage and social debts
-€60,408
Advances received
-€45,000
Other debts
-€139,402
Investment (derived)
+€240,653
Investment in fixed assets (net)
+€240,653
Financing
-€253,778
Debts after one year
-€218,758
Current portion of long-term debt
-€35,020
Cash 2025
€15,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,044,545 | €4,676,651 | -€367,894 | -7.3% |
| Fixed assets | 21/28 | €4,527,289 | €4,131,864 | -€395,425 | -8.7% |
| Tangible fixed assets | 22/27 | €4,522,789 | €4,131,864 | -€390,925 | -8.6% |
| Land and buildings | 22 | €4,518,935 | €4,128,255 | -€390,680 | -8.6% |
| Furniture and vehicles | 24 | €3,854 | €3,609 | -€245 | -6.4% |
| Financial fixed assets | 28 | €4,500 | €0 | -€4,500 | -100% |
| Current assets | 29/58 | €517,255 | €544,787 | +€27,531 | +5.3% |
| Stocks and contracts in progress | 3 | €458,898 | €458,898 | = | 0.0% |
| Stocks | 30/36 | €458,898 | €458,898 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,969 | €47,337 | +€9,368 | +24.7% |
| Trade receivables | 40 | €27,251 | €8,349 | -€18,902 | -69.4% |
| Other amounts receivable | 41 | €10,718 | €38,988 | +€28,271 | +264% |
| Cash at bank and in hand | 54/58 | €5,507 | €15,484 | +€9,977 | +181% |
| Deferred charges and accrued income | 490/1 | €14,881 | €23,067 | +€8,186 | +55.0% |
| Total equity and liabilities | 10/49 | €5,044,545 | €4,676,651 | -€367,894 | -7.3% |
| Equity | 10/15 | €3,343,618 | €3,536,955 | +€193,337 | +5.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €211,973 | €211,973 | = | 0.0% |
| Reserves | 13 | €2,846,379 | €2,631,135 | -€215,244 | -7.6% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,525,687 | €1,310,443 | -€215,244 | -14.1% |
| Distributable reserves | 133 | €1,295,692 | €1,295,692 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,266 | €443,847 | +€408,581 | +1,159% |
| Amounts payable | 17/49 | €1,700,926 | €1,139,696 | -€561,231 | -33.0% |
| Amounts payable after more than one year | 17 | €477,589 | €258,830 | -€218,758 | -45.8% |
| Financial debts | 170/4 | €477,589 | €258,830 | -€218,758 | -45.8% |
| Amounts payable within one year | 42/48 | €1,223,338 | €880,865 | -€342,472 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €153,778 | €118,758 | -€35,020 | -22.8% |
| Trade debts | 44 | €101,158 | €38,515 | -€62,643 | -61.9% |
| Suppliers | 440/4 | €101,158 | €38,515 | -€62,643 | -61.9% |
| Advances received on contracts in progress | 46 | €45,000 | €0 | -€45,000 | -100% |
| Taxes, remuneration and social security | 45 | €89,289 | €28,881 | -€60,408 | -67.7% |
| Taxes | 450/3 | €83,271 | €28,784 | -€54,488 | -65.4% |
| Remuneration and social security | 454/9 | €6,018 | €97 | -€5,920 | -98.4% |
| Other amounts payable | 47/48 | €834,113 | €694,711 | -€139,402 | -16.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €73 | €89,763 | +€89,689 | +122,193% |
| Remuneration, social security and pensions | 62 | €47,033 | €40,822 | -€6,210 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,886 | €154,772 | +€4,886 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €60,726 | €70,536 | +€9,810 | +16.2% |
| Gross operating margin | 9900 | €563,896 | €640,627 | +€76,730 | +13.6% |
| Operating profit (loss) | 9901 | €306,252 | €374,496 | +€68,244 | +22.3% |
| Financial income | 75/76B | €633 | €3,507 | +€2,873 | +454% |
| Recurring financial income | 75 | €633 | €3,507 | +€2,873 | +454% |
| Financial charges | 65/66B | €62,954 | €49,752 | -€13,202 | -21.0% |
| Recurring financial charges | 65 | €62,954 | €49,752 | -€13,202 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €243,932 | €328,251 | +€84,319 | +34.6% |
| Income taxes | 67/77 | €102,810 | €134,914 | +€32,104 | +31.2% |
| Profit (loss) for the period | 9904 | €141,122 | €193,337 | +€52,215 | +37.0% |
| Transfer from tax-exempt reserves | 789 | €70,372 | €215,244 | +€144,873 | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €211,493 | €408,581 | +€197,088 | +93.2% |
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 14 October 2026 via checked.be.