IMMO - KAAI: 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
IMMO - KAAI
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1,457
2024 · €2,575-€4,032
Equity
€332,007
2024 · €333,465-€1,457
Cash
€4,713
2024 · €3,385+€1,327
Balance sheet total
€430,611
2024 · €378,342+€52,269
Largest movements
Assets
- Stocks and contracts +€56,092
up €56,092 (+43.0%), from €130,587 to €186,679
- Tangible fixed assets -€5,254
down €5,254 (-3.9%), from €135,153 to €129,899
Equity and liabilities
- Short-term financial debts +€43,053
new in 2025: €43,053
- Tax, wage and social debts +€9,521
new in 2025: €9,521
- Other debts +€5,000
new in 2025: €5,000
Income statement
- Financial charges +€2,370
up €2,370 (+155.8%), from €1,521 to €3,891
- Other operating charges +€1,944
up €1,944 (+89.4%), from €2,175 to €4,120
- Gross operating margin +€280
up €280 (+2.7%), from €10,365 to €10,645
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
€2,575
Gross operating margin
+€280
Other operating charges
-€1,944
Financial income
+€2
Financial charges
-€2,370
Result 2025
-€1,457
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
-€38,000
Investment
€0
Financing
+€39,327
Cash 2024
€3,385
From operations (derived)
-€38,000
Net result for the year
-€1,457
Depreciation
+€5,254
Stocks and contracts
-€56,092
Smaller working-capital items
+€94
Deferred charges and accrued income
-€160
Trade debts
-€159
Tax, wage and social debts
+€9,521
Other debts
+€5,000
Financing
+€39,327
Debts after one year
-€3,895
Current portion of long-term debt
+€169
Short-term financial debts
+€43,053
Cash 2025
€4,713
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €378,342 | €430,611 | +€52,269 | +13.8% |
| Fixed assets | 21/28 | €135,153 | €129,899 | -€5,254 | -3.9% |
| Tangible fixed assets | 22/27 | €135,153 | €129,899 | -€5,254 | -3.9% |
| Land and buildings | 22 | €135,153 | €129,899 | -€5,254 | -3.9% |
| Current assets | 29/58 | €243,189 | €300,712 | +€57,523 | +23.7% |
| Stocks and contracts in progress | 3 | €130,587 | €186,679 | +€56,092 | +43.0% |
| Stocks | 30/36 | €130,587 | €186,679 | +€56,092 | +43.0% |
| Amounts receivable within one year | 40/41 | €58,057 | €58,000 | -€57 | -0.1% |
| Other amounts receivable | 41 | €58,057 | €58,000 | -€57 | -0.1% |
| Cash at bank and in hand | 54/58 | €3,385 | €4,713 | +€1,327 | +39.2% |
| Deferred charges and accrued income | 490/1 | €51,160 | €51,320 | +€160 | +0.3% |
| Total equity and liabilities | 10/49 | €378,342 | €430,611 | +€52,269 | +13.8% |
| Equity | 10/15 | €333,465 | €332,007 | -€1,457 | -0.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €314,915 | €313,457 | -€1,457 | -0.5% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €264,915 | €263,457 | -€1,457 | -0.6% |
| Amounts payable | 17/49 | €44,877 | €98,604 | +€53,726 | +119.7% |
| Amounts payable after more than one year | 17 | €39,775 | €35,881 | -€3,895 | -9.8% |
| Financial debts | 170/4 | €39,775 | €35,881 | -€3,895 | -9.8% |
| Amounts payable within one year | 42/48 | €3,907 | €61,490 | +€57,583 | +1473.8% |
| Current portion of amounts payable after more than one year | 42 | €3,726 | €3,895 | +€169 | +4.5% |
| Financial debts | 43 | - | €43,053 | +€43,053 | |
| Credit institutions | 430/8 | - | €43,053 | +€43,053 | |
| Trade debts | 44 | €182 | €22 | -€159 | -87.7% |
| Suppliers | 440/4 | €182 | €22 | -€159 | -87.7% |
| Taxes, remuneration and social security | 45 | - | €9,521 | +€9,521 | |
| Taxes | 450/3 | - | €9,521 | +€9,521 | |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Accrued charges and deferred income | 492/3 | €1,195 | €1,233 | +€38 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,254 | €5,254 | = | 0.0% |
| Other operating charges | 640/8 | €2,175 | €4,120 | +€1,944 | +89.4% |
| Gross operating margin | 9900 | €10,365 | €10,645 | +€280 | +2.7% |
| Operating profit (loss) | 9901 | €2,936 | €1,271 | -€1,665 | -56.7% |
| Financial income | 75/76B | €1,160 | €1,162 | +€2 | +0.2% |
| Recurring financial income | 75 | €1,160 | €1,162 | +€2 | +0.2% |
| Financial charges | 65/66B | €1,521 | €3,891 | +€2,370 | +155.8% |
| Recurring financial charges | 65 | €1,521 | €3,891 | +€2,370 | +155.8% |
| Profit (loss) for the period before taxes | 9903 | €2,575 | -€1,457 | -€4,032 | |
| Profit (loss) for the period | 9904 | €2,575 | -€1,457 | -€4,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,575 | -€1,457 | -€4,032 |
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 11 October 2026 via checked.be.