United Real Estate: what changed
What changed
United Real Estate
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€1.2m
2023 · €1.5m-€347,802
Equity
€13.1m
2023 · €11.9m+€1.2m
Cash
€1.4m
2023 · €2.6m-€1.2m
Balance sheet total
€42.0m
2023 · €39.0m+€3.0m
Largest movements
Assets
- Stocks and contracts +€6.0m
up €6.0m (+24.4%), from €24.6m to €30.6m
of which Stocks: +€3.9m
- Receivables within one year -€1.7m
down €1.7m (-37.8%), from €4.6m to €2.8m
of which Trade receivables: -€1.7m
- Cash -€1.2m
down €1.2m (-46.8%), from €2.6m to €1.4m
mainly Advances received (-€7.7m) and Stocks and contracts (-€6.0m)
Equity and liabilities
- Advances received -€7.7m
down €7.7m (-69.3%), from €11.1m to €3.4m
- Other debts +€7.3m
up €7.3m (+54.0%), from €13.6m to €20.9m
- Trade debts +€1.8m
up €1.8m (+79.4%), from €2.3m to €4.1m
- Profit (loss) carried forward +€1.2m
up €1.2m (+10.3%), from €11.3m to €12.5m
Income statement
- Turnover +€27.6m
up €27.6m (+1,511%), from €1.8m to €29.4m
- Goods and materials -€356,532
down €356,532 (-1.6%), from €22.9m to €22.6m
of which Change in stocks: decrease (increase): -€1.5m
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2023
€1.5m
Turnover
+€27.6m
Goods and materials
+€356,532
Services and other goods
+€274,651
Other operating charges
+€951
Other operating items
-€28.5m
Financial income
-€31,066
Financial charges
-€142,296
Taxes
+€115,934
Result 2024
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.4m
Investment
+€10,817
Financing
+€135,021
Cash 2023
€2.6m
From operations (derived)
-€1.4m
Net result for the year
+€1.2m
Stocks and contracts
-€6.0m
Receivables within one year
+€1.7m
Smaller working-capital items
+€16,164
Trade debts
+€1.8m
Tax, wage and social debts
+€291,775
Advances received
-€7.7m
Other debts
+€7.3m
Investment (derived)
+€10,817
Investment in fixed assets (net)
+€10,817
Financing
+€135,021
Short-term financial debts
+€135,021
Cash 2024
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,018,674 | €42,035,667 | +€3.0m | +7.7% |
| Fixed assets | 21/28 | €7,228,095 | €7,217,278 | -€10,817 | -0.1% |
| Financial fixed assets | 28 | €7,228,095 | €7,217,278 | -€10,817 | -0.1% |
| Affiliated companies | 280/1 | €7,198,095 | €7,200,403 | +€2,308 | 0.0% |
| Participating interests | 280 | €7,198,095 | €7,200,403 | +€2,308 | 0.0% |
| Companies linked by participating interests | 282/3 | €10,000 | €10,000 | = | 0.0% |
| Participating interests | 282 | €10,000 | €10,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €20,000 | €6,875 | -€13,125 | -65.6% |
| Amounts receivable and cash guarantees | 285/8 | €20,000 | €6,875 | -€13,125 | -65.6% |
| Current assets | 29/58 | €31,790,579 | €34,818,389 | +€3.0m | +9.5% |
| Stocks and contracts in progress | 3 | €24,580,244 | €30,581,095 | +€6.0m | +24.4% |
| Stocks | 30/36 | €24,239,322 | €28,184,858 | +€3.9m | +16.3% |
| Property held for sale | 35 | €24,239,322 | €28,184,858 | +€3.9m | +16.3% |
| Contracts in progress | 37 | €340,922 | €2,396,237 | +€2.1m | +603% |
| Amounts receivable within one year | 40/41 | €4,550,449 | €2,830,037 | -€1.7m | -37.8% |
| Trade receivables | 40 | €2,989,774 | €1,312,325 | -€1.7m | -56.1% |
| Other amounts receivable | 41 | €1,560,675 | €1,517,712 | -€42,963 | -2.8% |
| Cash at bank and in hand | 54/58 | €2,643,130 | €1,407,257 | -€1.2m | -46.8% |
| Deferred charges and accrued income | 490/1 | €16,756 | - | -€16,756 | |
| Total equity and liabilities | 10/49 | €39,018,674 | €42,035,667 | +€3.0m | +7.7% |
| Equity | 10/15 | €11,932,708 | €13,091,142 | +€1.2m | +9.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €576,200 | €576,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €570,000 | €570,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,294,508 | €12,452,942 | +€1.2m | +10.3% |
| Amounts payable | 17/49 | €27,085,966 | €28,944,525 | +€1.9m | +6.9% |
| Amounts payable within one year | 42/48 | €27,075,616 | €28,934,767 | +€1.9m | +6.9% |
| Financial debts | 43 | - | €135,021 | +€135,021 | |
| Credit institutions | 430/8 | - | €135,021 | +€135,021 | |
| Trade debts | 44 | €2,293,718 | €4,114,391 | +€1.8m | +79.4% |
| Suppliers | 440/4 | €2,293,718 | €4,114,391 | +€1.8m | +79.4% |
| Advances received on contracts in progress | 46 | €11,110,059 | €3,407,799 | -€7.7m | -69.3% |
| Taxes, remuneration and social security | 45 | €121,009 | €412,784 | +€291,775 | +241% |
| Taxes | 450/3 | €121,009 | €412,784 | +€291,775 | +241% |
| Other amounts payable | 47/48 | €13,550,830 | €20,864,772 | +€7.3m | +54.0% |
| Accrued charges and deferred income | 492/3 | €10,350 | €9,758 | -€592 | -5.7% |
| Operating income | 70/76A | €26,092,974 | €25,170,466 | -€922,508 | -3.5% |
| Turnover | 70 | €1,826,683 | €29,435,960 | +€27.6m | +1,511% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €24,266,291 | -€4,265,494 | -€28.5m | |
| Operating charges | 60/66A | €23,793,134 | €23,161,000 | -€632,134 | -2.7% |
| Goods for resale, raw materials and consumables | 60 | €22,925,928 | €22,569,396 | -€356,532 | -1.6% |
| Purchases | 600/8 | €25,410,987 | €26,514,932 | +€1.1m | +4.3% |
| Change in stocks: decrease (increase) | 609 | -€2,485,059 | -€3,945,536 | -€1.5m | -58.8% |
| Services and other goods | 61 | €866,137 | €591,486 | -€274,651 | -31.7% |
| Other operating charges | 640/8 | €1,069 | €118 | -€951 | -89.0% |
| Operating profit (loss) | 9901 | €2,299,840 | €2,009,466 | -€290,374 | -12.6% |
| Financial income | 75/76B | €86,651 | €55,585 | -€31,066 | -35.9% |
| Recurring financial income | 75 | €86,651 | €55,585 | -€31,066 | -35.9% |
| Income from current assets | 751 | €86,524 | €55,584 | -€30,940 | -35.8% |
| Other financial income | 752/9 | €127 | €1 | -€126 | -99.2% |
| Financial charges | 65/66B | €378,176 | €520,472 | +€142,296 | +37.6% |
| Recurring financial charges | 65 | €378,176 | €520,472 | +€142,296 | +37.6% |
| Debt charges | 650 | €348,262 | €492,413 | +€144,151 | +41.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €25,005 | €23,000 | -€2,005 | -8.0% |
| Other financial charges | 652/9 | €4,909 | €5,059 | +€150 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €2,008,315 | €1,544,579 | -€463,736 | -23.1% |
| Income taxes | 67/77 | €502,079 | €386,145 | -€115,934 | -23.1% |
| Taxes | 670/3 | €502,079 | €386,145 | -€115,934 | -23.1% |
| Profit (loss) for the period | 9904 | €1,506,236 | €1,158,434 | -€347,802 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,506,236 | €1,158,434 | -€347,802 | -23.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.