IMMO KAAP: 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.
IMMO KAAP
Largest movements
- Tangible fixed assets +€24,409
up €24,409 (+13.4%), from €182,257 to €206,667
of which Plant, machinery and equipment: +€23,635
- Debts after one year +€14,875
up €14,875 (+39.0%), from €38,127 to €53,003
- Trade debts +€4,552
up €4,552 (+135.4%), from €3,362 to €7,913
- Profit (loss) carried forward +€3,640
up €3,640 (+4.7%), from -€77,033 to -€73,393
- Gross operating margin -€4,336
down €4,336 (-16.9%), from €25,597 to €21,260
- Depreciation +€2,379
up €2,379 (+20.3%), from €11,739 to €14,118
- Other operating charges +€561
up €561 (+16.4%), from €3,415 to €3,976
- Financial income +€355
up €355 (+10.6%), from €3,360 to €3,715
- Taxes -€281
down €281 (-17.5%), from €1,606 to €1,325
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,083 | €337,054 | +€27,970 | +9.0% |
| Fixed assets | 21/28 | €182,257 | €206,667 | +€24,409 | +13.4% |
| Tangible fixed assets | 22/27 | €182,257 | €206,667 | +€24,409 | +13.4% |
| Land and buildings | 22 | €182,257 | €183,032 | +€774 | +0.4% |
| Plant, machinery and equipment | 23 | - | €23,635 | +€23,635 | |
| Current assets | 29/58 | €126,826 | €130,387 | +€3,561 | +2.8% |
| Amounts receivable within one year | 40/41 | €126,114 | €129,444 | +€3,331 | +2.6% |
| Trade receivables | 40 | €0 | €148 | +€148 | |
| Other amounts receivable | 41 | €126,114 | €129,296 | +€3,183 | +2.5% |
| Cash at bank and in hand | 54/58 | - | €213 | +€213 | |
| Deferred charges and accrued income | 490/1 | €712 | €729 | +€17 | +2.4% |
| Total equity and liabilities | 10/49 | €309,083 | €337,054 | +€27,970 | +9.0% |
| Equity | 10/15 | €255,144 | €258,784 | +€3,640 | +1.4% |
| Contributions | 10/11 | €332,177 | €332,177 | = | 0.0% |
| Capital | 10 | €332,177 | €332,177 | = | 0.0% |
| Issued capital | 100 | €332,177 | €332,177 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,033 | -€73,393 | +€3,640 | +4.7% |
| Amounts payable | 17/49 | €53,939 | €78,269 | +€24,330 | +45.1% |
| Amounts payable after more than one year | 17 | €38,127 | €53,003 | +€14,875 | +39.0% |
| Financial debts | 170/4 | €38,127 | €53,003 | +€14,875 | +39.0% |
| Amounts payable within one year | 42/48 | €15,679 | €25,266 | +€9,588 | +61.2% |
| Current portion of amounts payable after more than one year | 42 | €10,711 | €13,601 | +€2,890 | +27.0% |
| Trade debts | 44 | €3,362 | €7,913 | +€4,552 | +135.4% |
| Suppliers | 440/4 | €3,362 | €7,913 | +€4,552 | +135.4% |
| Taxes, remuneration and social security | 45 | €1,606 | €3,169 | +€1,563 | +97.3% |
| Taxes | 450/3 | €1,606 | €3,169 | +€1,563 | +97.3% |
| Other amounts payable | 47/48 | - | €583 | +€583 | |
| Accrued charges and deferred income | 492/3 | €133 | €0 | -€133 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,739 | €14,118 | +€2,379 | +20.3% |
| Other operating charges | 640/8 | €3,415 | €3,976 | +€561 | +16.4% |
| Gross operating margin | 9900 | €25,597 | €21,260 | -€4,336 | -16.9% |
| Operating profit (loss) | 9901 | €10,443 | €3,166 | -€7,276 | -69.7% |
| Financial income | 75/76B | €3,360 | €3,715 | +€355 | +10.6% |
| Recurring financial income | 75 | €3,360 | €3,715 | +€355 | +10.6% |
| Financial charges | 65/66B | €1,733 | €1,916 | +€182 | +10.5% |
| Recurring financial charges | 65 | €1,733 | €1,916 | +€182 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €12,069 | €4,966 | -€7,104 | -58.9% |
| Income taxes | 67/77 | €1,606 | €1,325 | -€281 | -17.5% |
| Profit (loss) for the period | 9904 | €10,463 | €3,640 | -€6,823 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,463 | €3,640 | -€6,823 | -65.2% |
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 3 October 2026 via checked.be.