STUDENTCOMFORT: 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
STUDENTCOMFORT
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.7m
2024 · -€528,354+€4.2m
Equity
€85.5m
2024 · €87.0m-€1.6m
Cash
€428,130
2024 · €104,066+€324,063
Balance sheet total
€264.9m
2024 · €252.5m+€12.4m
Largest movements
Assets
- Stocks and contracts +€4.2m
up €4.2m (+33.4%), from €12.5m to €16.6m
- Tangible fixed assets +€3.6m
up €3.6m (+1.7%), from €215.3m to €218.9m
of which Land and buildings: +€3.6m
Equity and liabilities
- Short-term financial debts +€12.6m
up €12.6m (+20.7%), from €61.1m to €73.7m
- Revaluation surpluses -€5.3m
down €5.3m (-7.5%), from €70.3m to €65.0m
- Current portion of long-term debt -€4.2m
down €4.2m (-62.3%), from €6.7m to €2.5m
- Reserves +€2.8m
up €2.8m (+14.8%), from €18.8m to €21.5m
of which Tax-exempt reserves: +€2.8m
Income statement
- Depreciation -€3.7m
down €3.7m (-41.8%), from €8.8m to €5.1m
- Financial charges +€1.2m
up €1.2m (+24.9%), from €4.7m to €5.9m
- Gross operating margin +€1.1m
up €1.1m (+7.4%), from €15.1m to €16.2m
- Other operating charges -€809,912
down €809,912 (-50.5%), from €1.6m to €794,220
- Taxes -€427,341
down €427,341 (-99.9%), from €427,647 to €305
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
-€528,354
Gross operating margin
+€1.1m
Staff costs
-€37,053
Depreciation
+€3.7m
Provisions
+€10,000
Other operating charges
+€809,912
Other operating items
+€87,725
Financial income
+€259,346
Financial charges
-€1.2m
Taxes
+€427,341
Deferred taxes and other
-€953,881
Result 2025
€3.7m
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
+€6.3m
Investment
-€11.2m
Financing
+€5.2m
Cash 2024
€104,066
From operations (derived)
+€6.3m
Net result for the year
+€3.7m
Depreciation
+€5.1m
Stocks and contracts
-€4.2m
Receivables within one year
-€1.9m
Deferred charges and accrued income
-€39,448
Provisions
+€915,263
Trade debts
+€1.1m
Tax, wage and social debts
+€94,998
Advances received
+€1.1m
Other debts
+€1.3m
Accrued charges and deferred income
-€986,351
Investment (derived)
-€11.2m
Investment in fixed assets (net)
-€11.2m
Financing
+€5.2m
Debts after one year
+€2.0m
Current portion of long-term debt
-€4.2m
Short-term financial debts
+€12.6m
Contributions, distributions and other
-€5.3m
Cash 2025
€428,130
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €252,467,203 | €264,911,255 | +€12.4m | +4.9% |
| Fixed assets | 21/28 | €238,086,755 | €244,102,058 | +€6.0m | +2.5% |
| Intangible fixed assets | 21 | €2,239,902 | €2,239,902 | = | 0.0% |
| Tangible fixed assets | 22/27 | €215,281,361 | €218,899,163 | +€3.6m | +1.7% |
| Land and buildings | 22 | €213,427,304 | €217,068,665 | +€3.6m | +1.7% |
| Furniture and vehicles | 24 | €11,916 | €58,137 | +€46,221 | +387.9% |
| Leasing and similar rights | 25 | €1,842,140 | €1,772,361 | -€69,779 | -3.8% |
| Financial fixed assets | 28 | €20,565,492 | €22,962,992 | +€2.4m | +11.7% |
| Current assets | 29/58 | €14,380,447 | €20,809,197 | +€6.4m | +44.7% |
| Stocks and contracts in progress | 3 | €12,455,776 | €16,620,072 | +€4.2m | +33.4% |
| Stocks | 30/36 | €12,455,776 | €16,620,072 | +€4.2m | +33.4% |
| Amounts receivable within one year | 40/41 | €1,819,716 | €3,720,659 | +€1.9m | +104.5% |
| Trade receivables | 40 | €1,295,632 | €786,106 | -€509,526 | -39.3% |
| Other amounts receivable | 41 | €524,084 | €2,934,552 | +€2.4m | +459.9% |
| Current investments | 50/53 | €814 | €814 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,066 | €428,130 | +€324,063 | +311.4% |
| Deferred charges and accrued income | 490/1 | €74 | €39,522 | +€39,448 | +52971.7% |
| Total equity and liabilities | 10/49 | €252,467,203 | €264,911,255 | +€12.4m | +4.9% |
| Equity | 10/15 | €87,049,794 | €85,495,041 | -€1.6m | -1.8% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Capital | 10 | €550,000 | €550,000 | = | 0.0% |
| Issued capital | 100 | €550,000 | €550,000 | = | 0.0% |
| Revaluation surpluses | 12 | €70,297,094 | €65,025,037 | -€5.3m | -7.5% |
| Reserves | 13 | €18,750,342 | €21,529,704 | +€2.8m | +14.8% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,730,448 | €21,509,809 | +€2.8m | +14.8% |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,547,643 | -€1,609,699 | +€937,944 | +36.8% |
| Provisions and deferred taxes | 16 | €6,589,210 | €7,504,473 | +€915,263 | +13.9% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Environmental obligations | 163 | €10,000 | €10,000 | = | 0.0% |
| Deferred taxes | 168 | €6,579,210 | €7,494,473 | +€915,263 | +13.9% |
| Amounts payable | 17/49 | €158,828,199 | €171,911,741 | +€13.1m | +8.2% |
| Amounts payable after more than one year | 17 | €61,552,204 | €63,548,433 | +€2.0m | +3.2% |
| Financial debts | 170/4 | €61,552,204 | €63,548,433 | +€2.0m | +3.2% |
| Amounts payable within one year | 42/48 | €96,129,301 | €108,202,964 | +€12.1m | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €6,677,705 | €2,520,111 | -€4.2m | -62.3% |
| Financial debts | 43 | €61,053,591 | €73,664,982 | +€12.6m | +20.7% |
| Credit institutions | 430/8 | €61,053,591 | €73,664,982 | +€12.6m | +20.7% |
| Trade debts | 44 | €1,480,119 | €2,610,383 | +€1.1m | +76.4% |
| Suppliers | 440/4 | €1,480,119 | €2,610,383 | +€1.1m | +76.4% |
| Advances received on contracts in progress | 46 | €450,921 | €1,571,142 | +€1.1m | +248.4% |
| Taxes, remuneration and social security | 45 | €145,740 | €240,738 | +€94,998 | +65.2% |
| Taxes | 450/3 | €131,943 | €148,318 | +€16,375 | +12.4% |
| Remuneration and social security | 454/9 | €13,797 | €92,420 | +€78,623 | +569.9% |
| Other amounts payable | 47/48 | €26,321,224 | €27,595,607 | +€1.3m | +4.8% |
| Accrued charges and deferred income | 492/3 | €1,146,694 | €160,343 | -€986,351 | -86.0% |
| Non-recurring operating income | 76A | €7,500 | €30,000 | +€22,500 | +300.0% |
| Remuneration, social security and pensions | 62 | €297,710 | €334,763 | +€37,053 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,834,035 | €5,138,656 | -€3.7m | -41.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €1,604,132 | €794,220 | -€809,912 | -50.5% |
| Non-recurring operating charges | 66A | €87,725 | - | -€87,725 | |
| Gross operating margin | 9900 | €15,101,647 | €16,217,164 | +€1.1m | +7.4% |
| Operating profit (loss) | 9901 | €4,268,045 | €9,949,525 | +€5.7m | +133.1% |
| Financial income | 75/76B | €279,905 | €539,251 | +€259,346 | +92.7% |
| Recurring financial income | 75 | €279,905 | €539,251 | +€259,346 | +92.7% |
| Financial charges | 65/66B | €4,687,275 | €5,855,903 | +€1.2m | +24.9% |
| Recurring financial charges | 65 | €4,687,275 | €5,855,903 | +€1.2m | +24.9% |
| Profit (loss) for the period before taxes | 9903 | -€139,325 | €4,632,873 | +€4.8m | |
| Transfer from deferred taxes | 780 | €38,618 | €219,307 | +€180,689 | +467.9% |
| Transfer to deferred taxes | 680 | - | €1,134,570 | +€1.1m | |
| Income taxes | 67/77 | €427,647 | €305 | -€427,341 | -99.9% |
| Profit (loss) for the period | 9904 | -€528,354 | €3,717,305 | +€4.2m | |
| Transfer from tax-exempt reserves | 789 | €53,768 | €624,348 | +€570,580 | +1061.2% |
| Transfer to tax-exempt reserves | 689 | - | €3,403,710 | +€3.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€474,585 | €937,944 | +€1.4m |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.