BKV-IMMO: 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
BKV-IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8,848
2024 · €17,861-€9,013
Equity
€659,994
2024 · €651,146+€8,848
Cash
€5,225
2024 · €6,257-€1,032
Balance sheet total
€1.2m
2024 · €1.3m-€42,547
Largest movements
Assets
- Tangible fixed assets -€49,633
down €49,633 (-3.9%), from €1.3m to €1.2m
Equity and liabilities
- Debts after one year -€73,696
down €73,696 (-19.7%), from €374,613 to €300,916
- Other debts +€35,819
up €35,819 (+31.5%), from €113,672 to €149,492
Income statement
- Gross operating margin -€8,108
down €8,108 (-7.8%), from €104,505 to €96,397
- Financial charges +€6,766
up €6,766 (+64.4%), from €10,514 to €17,280
- Taxes -€4,597
down €4,597 (-32.6%), from €14,111 to €9,514
- Other operating charges -€1,299
down €1,299 (-14.7%), from €8,842 to €7,542
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
€17,861
Gross operating margin
-€8,108
Depreciation
-€35
Other operating charges
+€1,299
Financial income
-€0
Financial charges
-€6,766
Taxes
+€4,597
Result 2025
€8,848
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
+€88,330
Investment
-€7,626
Financing
-€81,735
Cash 2024
€6,257
From operations (derived)
+€88,330
Net result for the year
+€8,848
Depreciation
+€57,260
Receivables within one year
-€8,081
Smaller working-capital items
-€31
Provisions
-€4,047
Trade debts
-€2,271
Tax, wage and social debts
+€833
Other debts
+€35,819
Investment (derived)
-€7,626
Investment in fixed assets (net)
-€7,626
Financing
-€81,735
Debts after one year
-€73,696
Current portion of long-term debt
-€10,551
Short-term financial debts
+€2,512
Cash 2025
€5,225
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,289,043 | €1,246,495 | -€42,547 | -3.3% |
| Fixed assets | 21/28 | €1,281,588 | €1,231,955 | -€49,633 | -3.9% |
| Tangible fixed assets | 22/27 | €1,281,588 | €1,231,955 | -€49,633 | -3.9% |
| Land and buildings | 22 | €1,281,588 | €1,231,955 | -€49,633 | -3.9% |
| Current assets | 29/58 | €7,455 | €14,541 | +€7,086 | +95.1% |
| Amounts receivable within one year | 40/41 | €137 | €8,219 | +€8,081 | +5882.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €137 | €8,219 | +€8,081 | +5882.4% |
| Cash at bank and in hand | 54/58 | €6,257 | €5,225 | -€1,032 | -16.5% |
| Deferred charges and accrued income | 490/1 | €1,060 | €1,097 | +€37 | +3.5% |
| Total equity and liabilities | 10/49 | €1,289,043 | €1,246,495 | -€42,547 | -3.3% |
| Equity | 10/15 | €651,146 | €659,994 | +€8,848 | +1.4% |
| Contributions | 10/11 | €30,049 | €30,049 | = | 0.0% |
| Reserves | 13 | €621,097 | €629,945 | +€8,848 | +1.4% |
| Tax-exempt reserves | 132 | €160,283 | €148,142 | -€12,141 | -7.6% |
| Distributable reserves | 133 | €460,814 | €481,803 | +€20,989 | +4.6% |
| Provisions and deferred taxes | 16 | €52,609 | €48,562 | -€4,047 | -7.7% |
| Deferred taxes | 168 | €52,609 | €48,562 | -€4,047 | -7.7% |
| Amounts payable | 17/49 | €585,288 | €537,939 | -€47,348 | -8.1% |
| Amounts payable after more than one year | 17 | €374,613 | €300,916 | -€73,696 | -19.7% |
| Financial debts | 170/4 | €374,613 | €300,916 | -€73,696 | -19.7% |
| Amounts payable within one year | 42/48 | €210,675 | €237,018 | +€26,343 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €84,248 | €73,696 | -€10,551 | -12.5% |
| Financial debts | 43 | - | €2,512 | +€2,512 | |
| Credit institutions | 430/8 | - | €2,512 | +€2,512 | |
| Trade debts | 44 | €4,784 | €2,514 | -€2,271 | -47.5% |
| Suppliers | 440/4 | €4,784 | €2,514 | -€2,271 | -47.5% |
| Taxes, remuneration and social security | 45 | €7,971 | €8,804 | +€833 | +10.4% |
| Taxes | 450/3 | €7,971 | €8,804 | +€833 | +10.4% |
| Other amounts payable | 47/48 | €113,672 | €149,492 | +€35,819 | +31.5% |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,225 | €57,260 | +€35 | +0.1% |
| Other operating charges | 640/8 | €8,842 | €7,542 | -€1,299 | -14.7% |
| Gross operating margin | 9900 | €104,505 | €96,397 | -€8,108 | -7.8% |
| Operating profit (loss) | 9901 | €38,438 | €31,595 | -€6,844 | -17.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €10,514 | €17,280 | +€6,766 | +64.4% |
| Recurring financial charges | 65 | €10,514 | €17,280 | +€6,766 | +64.4% |
| Profit (loss) for the period before taxes | 9903 | €27,925 | €14,315 | -€13,610 | -48.7% |
| Transfer from deferred taxes | 780 | €4,047 | €4,047 | = | 0.0% |
| Income taxes | 67/77 | €14,111 | €9,514 | -€4,597 | -32.6% |
| Profit (loss) for the period | 9904 | €17,861 | €8,848 | -€9,013 | -50.5% |
| Transfer from tax-exempt reserves | 789 | €12,141 | €12,141 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,002 | €20,989 | -€9,013 | -30.0% |
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 5 October 2026 via checked.be.