DIRA CONSULT: 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
DIRA CONSULT
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
-€195,134
2024 · -€219,369+€24,235
Equity
-€339,249
2024 · -€144,115-€195,134
Cash
€717
2024 · €1,813-€1,096
Balance sheet total
€6.2m
2024 · €6.3m-€135,748
Largest movements
Assets
- Tangible fixed assets -€208,993
down €208,993 (-3.7%), from €5.7m to €5.4m
of which Land and buildings: -€176,637
- Receivables within one year +€74,083
up €74,083 (+204%), from €36,244 to €110,326
of which Trade receivables: +€64,099
Equity and liabilities
- Other debts +€232,263
up €232,263 (+6.4%), from €3.6m to €3.8m
- Profit (loss) carried forward -€191,915
down €191,915 (-47.1%), from -€407,756 to -€599,672
- Debts after one year -€173,583
down €173,583 (-6.6%), from €2.6m to €2.5m
of which Financial debts: -€173,583
Income statement
- Other operating charges -€12,217
down €12,217 (-26.2%), from €46,653 to €34,436
- Gross operating margin +€10,882
up €10,882 (+9.5%), from €114,687 to €125,569
- Financial charges -€10,721
down €10,721 (-14.6%), from €73,288 to €62,567
- Taxes +€5,175
up €5,175, from €0 to €5,175
- Depreciation +€3,037
up €3,037 (+1.4%), from €217,426 to €220,463
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
-€219,369
Gross operating margin
+€10,882
Depreciation
-€3,037
Other operating charges
+€12,217
Other operating items
-€83
Financial income
-€2
Financial charges
+€10,721
Taxes
-€5,175
Deferred taxes and other
-€1,289
Result 2025
-€195,134
raises the resultlowers the resultnot broken down further in the accounts
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
+€191,222
Investment
-€11,470
Financing
-€180,848
Cash 2024
€1,813
From operations (derived)
+€191,222
Net result for the year
-€195,134
Depreciation
+€220,463
Receivables within one year
-€74,083
Deferred charges and accrued income
-€259
Provisions
-€1,073
Trade debts
+€24,852
Tax, wage and social debts
+€16,763
Other debts
+€232,263
Accrued charges and deferred income
-€32,569
Investment (derived)
-€11,470
Investment in fixed assets (net)
-€11,470
Financing
-€180,848
Debts after one year
-€173,583
Current portion of long-term debt
+€2,162
Short-term financial debts
-€9,428
Cash 2025
€717
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,342,417 | €6,206,669 | -€135,748 | -2.1% |
| Fixed assets | 21/28 | €6,301,506 | €6,092,513 | -€208,993 | -3.3% |
| Tangible fixed assets | 22/27 | €5,656,506 | €5,447,513 | -€208,993 | -3.7% |
| Land and buildings | 22 | €5,581,083 | €5,404,446 | -€176,637 | -3.2% |
| Furniture and vehicles | 24 | €72,591 | €41,066 | -€31,525 | -43.4% |
| Other tangible fixed assets | 26 | €2,832 | €2,001 | -€831 | -29.3% |
| Financial fixed assets | 28 | €645,000 | €645,000 | = | 0.0% |
| Current assets | 29/58 | €40,911 | €114,156 | +€73,245 | +179% |
| Amounts receivable within one year | 40/41 | €36,244 | €110,326 | +€74,083 | +204% |
| Trade receivables | 40 | €2,092 | €66,190 | +€64,099 | +3,065% |
| Other amounts receivable | 41 | €34,152 | €44,136 | +€9,984 | +29.2% |
| Cash at bank and in hand | 54/58 | €1,813 | €717 | -€1,096 | -60.5% |
| Deferred charges and accrued income | 490/1 | €2,854 | €3,113 | +€259 | +9.1% |
| Total equity and liabilities | 10/49 | €6,342,417 | €6,206,669 | -€135,748 | -2.1% |
| Equity | 10/15 | -€144,115 | -€339,249 | -€195,134 | -135% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €245,091 | €241,872 | -€3,219 | -1.3% |
| Tax-exempt reserves | 132 | €70,887 | €67,669 | -€3,219 | -4.5% |
| Distributable reserves | 133 | €174,204 | €174,204 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€407,756 | -€599,672 | -€191,915 | -47.1% |
| Provisions and deferred taxes | 16 | €28,954 | €27,881 | -€1,073 | -3.7% |
| Deferred taxes | 168 | €28,954 | €27,881 | -€1,073 | -3.7% |
| Amounts payable | 17/49 | €6,457,578 | €6,518,037 | +€60,459 | +0.9% |
| Amounts payable after more than one year | 17 | €2,629,971 | €2,456,389 | -€173,583 | -6.6% |
| Financial debts | 170/4 | €2,619,171 | €2,445,589 | -€173,583 | -6.6% |
| Other amounts payable | 178/9 | €10,800 | €10,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,794,438 | €4,061,049 | +€266,611 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €171,420 | €173,583 | +€2,162 | +1.3% |
| Financial debts | 43 | €13,780 | €4,352 | -€9,428 | -68.4% |
| Credit institutions | 430/8 | €13,780 | €4,352 | -€9,428 | -68.4% |
| Trade debts | 44 | €5,922 | €30,773 | +€24,852 | +420% |
| Suppliers | 440/4 | €5,922 | €30,773 | +€24,852 | +420% |
| Taxes, remuneration and social security | 45 | €1,301 | €18,063 | +€16,763 | +1,289% |
| Taxes | 450/3 | €1,301 | €18,063 | +€16,763 | +1,289% |
| Other amounts payable | 47/48 | €3,602,014 | €3,834,277 | +€232,263 | +6.4% |
| Accrued charges and deferred income | 492/3 | €33,169 | €600 | -€32,569 | -98.2% |
| Non-recurring operating income | 76A | €200 | €0 | -€200 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,426 | €220,463 | +€3,037 | +1.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €46,653 | €34,436 | -€12,217 | -26.2% |
| Non-recurring operating charges | 66A | - | €83 | +€83 | |
| Gross operating margin | 9900 | €114,687 | €125,569 | +€10,882 | +9.5% |
| Operating profit (loss) | 9901 | -€149,392 | -€129,413 | +€19,979 | +13.4% |
| Financial income | 75/76B | €949 | €948 | -€2 | -0.2% |
| Recurring financial income | 75 | €949 | €948 | -€2 | -0.2% |
| Financial charges | 65/66B | €73,288 | €62,567 | -€10,721 | -14.6% |
| Recurring financial charges | 65 | €73,288 | €62,567 | -€10,721 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | -€221,731 | -€191,032 | +€30,698 | +13.8% |
| Transfer from deferred taxes | 780 | €2,362 | €1,073 | -€1,289 | -54.6% |
| Income taxes | 67/77 | €0 | €5,175 | +€5,175 | |
| Profit (loss) for the period | 9904 | -€219,369 | -€195,134 | +€24,235 | +11.0% |
| Transfer from tax-exempt reserves | 789 | €5,782 | €3,219 | -€2,563 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€213,587 | -€191,915 | +€21,672 | +10.1% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.