Woonstart: 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
Woonstart
NACE 68.202, Real estate activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€835,178
2024 · -€699,553-€135,624
Equity
€15.5m
2024 · €11.8m+€3.7m
Cash
€2.0m
2024 · €1.6m+€463,442
Balance sheet total
€97.5m
2024 · €73.5m+€24.1m
Largest movements
Assets
- Tangible fixed assets +€23.5m
up €23.5m (+35.4%), from €66.4m to €90.0m
of which Land and buildings: +€27.3m
Equity and liabilities
- Debts after one year +€20.3m
up €20.3m (+36.0%), from €56.3m to €76.5m
of which Financial debts: +€20.0m
- Reserves +€3.3m
up €3.3m (+30.4%), from €10.8m to €14.1m
of which Non-distributable reserves: +€3.3m
- Investment grants +€1.2m
up €1.2m (+35.2%), from €3.3m to €4.5m
Income statement
- Turnover +€1.7m
up €1.7m (+30.0%), from €5.6m to €7.3m
- Purchases and services +€1.3m
up €1.3m (+41.9%), from €3.0m to €4.3m
- Gross operating margin +€918,405
up €918,405 (+25.0%), from €3.7m to €4.6m
- Financial charges +€698,662
up €698,662 (+53.6%), from €1.3m to €2.0m
- Financial income +€692,521
up €692,521 (+77.7%), from €891,205 to €1.6m
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
-€699,553
Gross operating margin
+€918,405
Staff costs
-€144,408
Depreciation
-€651,365
Write-downs
-€73,357
Other operating charges
+€82,055
Other operating items
-€254,547
Financial income
+€692,521
Financial charges
-€698,662
Taxes
-€1,932
Deferred taxes and other
-€4,334
Result 2025
-€835,178
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
+€1.8m
Investment
-€26.2m
Financing
+€24.9m
Cash 2024
€1.6m
From operations (derived)
+€1.8m
Net result for the year
-€835,178
Depreciation
+€2.7m
Stocks and contracts
+€325,651
Smaller working-capital items
+€105,379
Deferred charges and accrued income
-€398,336
Trade debts
-€574,020
Other debts
+€163,896
Accrued charges and deferred income
+€310,873
Investment (derived)
-€26.2m
Investment in fixed assets (net)
-€26.2m
Financing
+€24.9m
Debts after one year
+€20.3m
Current portion of long-term debt
+€91,624
Contributions, distributions and other
+€4.5m
Cash 2025
€2.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,473,843 | €97,529,158 | +€24.1m | +32.7% |
| Fixed assets | 21/28 | €66,467,246 | €89,979,599 | +€23.5m | +35.4% |
| Tangible fixed assets | 22/27 | €66,447,210 | €89,963,360 | +€23.5m | +35.4% |
| Land and buildings | 22 | €61,164,278 | €88,480,680 | +€27.3m | +44.7% |
| Plant, machinery and equipment | 23 | - | €4,602 | +€4,602 | |
| Furniture and vehicles | 24 | €142,454 | €107,510 | -€34,944 | -24.5% |
| Assets under construction and advance payments | 27 | €5,140,478 | €1,370,567 | -€3.8m | -73.3% |
| Financial fixed assets | 28 | €20,036 | €16,239 | -€3,797 | -19.0% |
| Current assets | 29/58 | €7,006,597 | €7,549,559 | +€542,962 | +7.7% |
| Stocks and contracts in progress | 3 | €4,353,551 | €4,027,900 | -€325,651 | -7.5% |
| Stocks | 30/36 | €4,353,551 | €4,027,900 | -€325,651 | -7.5% |
| Amounts receivable within one year | 40/41 | €751,518 | €758,353 | +€6,835 | +0.9% |
| Trade receivables | 40 | €664,492 | €615,092 | -€49,399 | -7.4% |
| Other amounts receivable | 41 | €87,027 | €143,261 | +€56,234 | +64.6% |
| Cash at bank and in hand | 54/58 | €1,573,182 | €2,036,624 | +€463,442 | +29.5% |
| Deferred charges and accrued income | 490/1 | €328,345 | €726,681 | +€398,336 | +121.3% |
| Total equity and liabilities | 10/49 | €73,473,843 | €97,529,158 | +€24.1m | +32.7% |
| Equity | 10/15 | €11,815,535 | €15,514,356 | +€3.7m | +31.3% |
| Contributions | 10/11 | €18,317 | €20,000 | +€1,683 | +9.2% |
| Reserves | 13 | €10,840,176 | €14,137,368 | +€3.3m | +30.4% |
| Non-distributable reserves | 130/1 | €7,596,174 | €10,893,199 | +€3.3m | +43.4% |
| Reserves not available under the articles | 1311 | €7,596,174 | €10,893,199 | +€3.3m | +43.4% |
| Tax-exempt reserves | 132 | €3,244,002 | €3,244,169 | +€167 | 0.0% |
| Profit (loss) carried forward | 14 | -€2,335,696 | -€3,095,955 | -€760,259 | -32.5% |
| Investment grants | 15 | €3,292,737 | €4,452,943 | +€1.2m | +35.2% |
| Provisions and deferred taxes | 16 | €256,225 | €314,809 | +€58,584 | +22.9% |
| Deferred taxes | 168 | €256,225 | €314,809 | +€58,584 | +22.9% |
| Amounts payable | 17/49 | €61,402,084 | €81,699,993 | +€20.3m | +33.1% |
| Amounts payable after more than one year | 17 | €56,262,977 | €76,514,884 | +€20.3m | +36.0% |
| Financial debts | 170/4 | €55,626,014 | €75,672,267 | +€20.0m | +36.0% |
| Other amounts payable | 178/9 | €636,964 | €842,617 | +€205,653 | +32.3% |
| Amounts payable within one year | 42/48 | €4,796,628 | €4,531,757 | -€264,870 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €3,079,421 | €3,171,045 | +€91,624 | +3.0% |
| Trade debts | 44 | €816,941 | €242,921 | -€574,020 | -70.3% |
| Suppliers | 440/4 | €816,941 | €242,921 | -€574,020 | -70.3% |
| Taxes, remuneration and social security | 45 | €506,625 | €560,255 | +€53,630 | +10.6% |
| Taxes | 450/3 | €336,472 | €378,096 | +€41,624 | +12.4% |
| Remuneration and social security | 454/9 | €170,153 | €182,159 | +€12,006 | +7.1% |
| Other amounts payable | 47/48 | €393,640 | €557,536 | +€163,896 | +41.6% |
| Accrued charges and deferred income | 492/3 | €342,479 | €653,352 | +€310,873 | +90.8% |
| Turnover | 70 | €5,633,706 | €7,325,986 | +€1.7m | +30.0% |
| Non-recurring operating income | 76A | €315,679 | €512,470 | +€196,792 | +62.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,003,012 | €4,260,712 | +€1.3m | +41.9% |
| Remuneration, social security and pensions | 62 | €1,391,837 | €1,536,245 | +€144,408 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,056,283 | €2,707,648 | +€651,365 | +31.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €794 | €74,151 | +€73,357 | +9239.1% |
| Other operating charges | 640/8 | €519,009 | €436,954 | -€82,055 | -15.8% |
| Non-recurring operating charges | 66A | €273 | €254,821 | +€254,547 | +93090.6% |
| Gross operating margin | 9900 | €3,669,702 | €4,588,107 | +€918,405 | +25.0% |
| Operating profit (loss) | 9901 | -€298,495 | -€421,712 | -€123,217 | -41.3% |
| Financial income | 75/76B | €891,205 | €1,583,727 | +€692,521 | +77.7% |
| Recurring financial income | 75 | €891,205 | €1,583,727 | +€692,521 | +77.7% |
| Financial charges | 65/66B | €1,304,212 | €2,002,874 | +€698,662 | +53.6% |
| Recurring financial charges | 65 | €1,304,212 | €2,002,874 | +€698,662 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | -€711,501 | -€840,859 | -€129,358 | -18.2% |
| Transfer from deferred taxes | 780 | €10,875 | €11,991 | +€1,117 | +10.3% |
| Transfer to deferred taxes | 680 | - | €5,450 | +€5,450 | |
| Income taxes | 67/77 | -€1,073 | €859 | +€1,932 | |
| Profit (loss) for the period | 9904 | -€699,553 | -€835,178 | -€135,624 | -19.4% |
| Transfer from tax-exempt reserves | 789 | €69,195 | €74,918 | +€5,723 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€630,358 | -€760,259 | -€129,902 | -20.6% |
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 1 October 2026 via checked.be.