BKV IMMO: 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.
BKV IMMO
Largest movements
- Tangible fixed assets +€311,531
up €311,531 (+24.1%), from €1.3m to €1.6m
- Cash +€186,122
up €186,122 (+419%), from €44,423 to €230,545
mainly Debts after one year (+€465,459) and Contributions, distributions and other (+€63,332)
- Debts after one year +€465,459
up €465,459 (+42.2%), from €1.1m to €1.6m
- Investment grants +€63,332
new in 2025: €63,332
- Other debts -€19,472
down €19,472 (-100%), from €19,472 to €0
- Gross operating margin -€10,796
down €10,796 (-11.4%), from €94,513 to €83,717
- Other operating charges +€9,263
up €9,263 (+95.6%), from €9,688 to €18,951
- Financial charges +€3,939
up €3,939 (+10.4%), from €37,977 to €41,915
- Depreciation +€2,114
up €2,114 (+6.4%), from €33,237 to €35,351
- Financial income +€1,932
up €1,932 (+4,081%), from €47 to €1,979
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,344,848 | €1,839,903 | +€495,055 | +36.8% |
| Fixed assets | 21/28 | €1,291,920 | €1,603,451 | +€311,531 | +24.1% |
| Tangible fixed assets | 22/27 | €1,291,920 | €1,603,451 | +€311,531 | +24.1% |
| Land and buildings | 22 | €1,291,920 | €1,603,451 | +€311,531 | +24.1% |
| Current assets | 29/58 | €52,928 | €236,452 | +€183,524 | +347% |
| Amounts receivable within one year | 40/41 | €8,505 | €5,907 | -€2,598 | -30.5% |
| Trade receivables | 40 | €4,916 | €0 | -€4,916 | -100% |
| Other amounts receivable | 41 | €3,589 | €5,907 | +€2,318 | +64.6% |
| Cash at bank and in hand | 54/58 | €44,423 | €230,545 | +€186,122 | +419% |
| Total equity and liabilities | 10/49 | €1,344,848 | €1,839,903 | +€495,055 | +36.8% |
| Equity | 10/15 | €140,227 | €193,038 | +€52,811 | +37.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,773 | -€120,294 | -€10,521 | -9.6% |
| Investment grants | 15 | - | €63,332 | +€63,332 | |
| Amounts payable | 17/49 | €1,204,621 | €1,646,865 | +€442,244 | +36.7% |
| Amounts payable after more than one year | 17 | €1,102,456 | €1,567,915 | +€465,459 | +42.2% |
| Financial debts | 170/4 | €1,102,456 | €1,567,915 | +€465,459 | +42.2% |
| Amounts payable within one year | 42/48 | €96,084 | €69,030 | -€27,055 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €56,820 | €66,583 | +€9,763 | +17.2% |
| Trade debts | 44 | €19,792 | €2,447 | -€17,346 | -87.6% |
| Suppliers | 440/4 | €19,792 | €2,447 | -€17,346 | -87.6% |
| Taxes, remuneration and social security | 45 | - | €0 | = | |
| Taxes | 450/3 | - | €0 | = | |
| Other amounts payable | 47/48 | €19,472 | €0 | -€19,472 | -100% |
| Accrued charges and deferred income | 492/3 | €6,080 | €9,920 | +€3,840 | +63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,237 | €35,351 | +€2,114 | +6.4% |
| Other operating charges | 640/8 | €9,688 | €18,951 | +€9,263 | +95.6% |
| Gross operating margin | 9900 | €94,513 | €83,717 | -€10,796 | -11.4% |
| Operating profit (loss) | 9901 | €51,588 | €29,415 | -€22,173 | -43.0% |
| Financial income | 75/76B | €47 | €1,979 | +€1,932 | +4,081% |
| Recurring financial income | 75 | €47 | €1,979 | +€1,932 | +4,081% |
| Financial charges | 65/66B | €37,977 | €41,915 | +€3,939 | +10.4% |
| Recurring financial charges | 65 | €37,977 | €41,915 | +€3,939 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €13,658 | -€10,521 | -€24,180 | |
| Profit (loss) for the period | 9904 | €13,658 | -€10,521 | -€24,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,658 | -€10,521 | -€24,180 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.