IMMO-KAISER SRL: 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-KAISER SRL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,530
2024 · -€14,842+€32,372
Equity
€1.5m
2024 · €1.3m+€155,187
Cash
€14,102
2024 · €4,254+€9,848
Balance sheet total
€5.3m
2024 · €5.4m-€67,658
Largest movements
Assets
- Tangible fixed assets -€310,818
down €310,818 (-5.8%), from €5.3m to €5.0m
- Receivables within one year +€231,234
up €231,234 (+944%), from €24,502 to €255,736
Equity and liabilities
- Debts after one year -€152,724
down €152,724 (-4.2%), from €3.7m to €3.5m
of which Financial debts: -€148,224
- Reserves +€137,657
up €137,657 (+130%), from €106,200 to €243,858
of which Tax-exempt reserves: +€137,657
- Other debts -€106,002
down €106,002 (-42.4%), from €250,101 to €144,099
Income statement
- Depreciation -€65,237
down €65,237 (-30.2%), from €216,161 to €150,924
- Financial charges +€16,007
up €16,007 (+43.2%), from €37,042 to €53,048
- Gross operating margin -€15,438
down €15,438 (-6.1%), from €253,823 to €238,385
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
-€14,842
Gross operating margin
-€15,438
Depreciation
+€65,237
Other operating charges
+€258
Other operating items
-€2,400
Financial income
+€1,618
Financial charges
-€16,007
Taxes
-€896
Result 2025
€17,530
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
-€137,930
Investment
+€159,894
Financing
-€12,116
Cash 2024
€4,254
From operations (derived)
-€137,930
Net result for the year
+€17,530
Depreciation
+€150,924
Receivables within one year
-€231,234
Deferred charges and accrued income
-€2,078
Provisions
+€45,886
Trade debts
+€3,029
Tax, wage and social debts
-€17,735
Other debts
-€106,002
Accrued charges and deferred income
+€1,750
Investment (derived)
+€159,894
Investment in fixed assets (net)
+€159,894
Financing
-€12,116
Debts after one year
-€152,724
Current portion of long-term debt
+€2,950
Contributions, distributions and other
+€137,657
Cash 2025
€14,102
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,377,849 | €5,310,191 | -€67,658 | -1.3% |
| Fixed assets | 21/28 | €5,340,140 | €5,029,322 | -€310,818 | -5.8% |
| Tangible fixed assets | 22/27 | €5,340,140 | €5,029,322 | -€310,818 | -5.8% |
| Land and buildings | 22 | €5,340,140 | €5,029,322 | -€310,818 | -5.8% |
| Current assets | 29/58 | €37,710 | €280,869 | +€243,160 | +645% |
| Amounts receivable within one year | 40/41 | €24,502 | €255,736 | +€231,234 | +944% |
| Other amounts receivable | 41 | €24,502 | €255,736 | +€231,234 | +944% |
| Cash at bank and in hand | 54/58 | €4,254 | €14,102 | +€9,848 | +231% |
| Deferred charges and accrued income | 490/1 | €8,954 | €11,032 | +€2,078 | +23.2% |
| Total equity and liabilities | 10/49 | €5,377,849 | €5,310,191 | -€67,658 | -1.3% |
| Equity | 10/15 | €1,304,054 | €1,459,242 | +€155,187 | +11.9% |
| Contributions | 10/11 | €1,163,978 | €1,163,978 | = | 0.0% |
| Reserves | 13 | €106,200 | €243,858 | +€137,657 | +130% |
| Tax-exempt reserves | 132 | - | €137,657 | +€137,657 | |
| Distributable reserves | 133 | €106,200 | €106,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,876 | €51,406 | +€17,530 | +51.7% |
| Provisions and deferred taxes | 16 | - | €45,886 | +€45,886 | |
| Deferred taxes | 168 | - | €45,886 | +€45,886 | |
| Amounts payable | 17/49 | €4,073,795 | €3,805,064 | -€268,732 | -6.6% |
| Amounts payable after more than one year | 17 | €3,658,531 | €3,505,807 | -€152,724 | -4.2% |
| Financial debts | 170/4 | €3,638,481 | €3,490,257 | -€148,224 | -4.1% |
| Other amounts payable | 178/9 | €20,050 | €15,550 | -€4,500 | -22.4% |
| Amounts payable within one year | 42/48 | €414,684 | €296,925 | -€117,758 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €145,274 | €148,224 | +€2,950 | +2.0% |
| Trade debts | 44 | €1,574 | €4,602 | +€3,029 | +192% |
| Suppliers | 440/4 | €1,574 | €4,602 | +€3,029 | +192% |
| Taxes, remuneration and social security | 45 | €17,735 | - | -€17,735 | |
| Taxes | 450/3 | €17,735 | - | -€17,735 | |
| Other amounts payable | 47/48 | €250,101 | €144,099 | -€106,002 | -42.4% |
| Accrued charges and deferred income | 492/3 | €581 | €2,331 | +€1,750 | +301% |
| Non-recurring operating income | 76A | €1,775 | - | -€1,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,161 | €150,924 | -€65,237 | -30.2% |
| Other operating charges | 640/8 | €15,463 | €15,205 | -€258 | -1.7% |
| Non-recurring operating charges | 66A | - | €2,400 | +€2,400 | |
| Gross operating margin | 9900 | €253,823 | €238,385 | -€15,438 | -6.1% |
| Operating profit (loss) | 9901 | €22,199 | €69,856 | +€47,657 | +215% |
| Financial income | 75/76B | - | €1,618 | +€1,618 | |
| Recurring financial income | 75 | - | €1,618 | +€1,618 | |
| Financial charges | 65/66B | €37,042 | €53,048 | +€16,007 | +43.2% |
| Recurring financial charges | 65 | €37,042 | €53,048 | +€16,007 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,842 | €18,426 | +€33,268 | |
| Income taxes | 67/77 | - | €896 | +€896 | |
| Profit (loss) for the period | 9904 | -€14,842 | €17,530 | +€32,372 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,842 | €17,530 | +€32,372 |
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 18 October 2026 via checked.be.