IMMO KAPLAN: what changed
What changed
IMMO KAPLAN
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
-€37,917
31-12-2024 · -€15,503-€22,414
Equity
€192,476
31-12-2024 · €236,433-€43,956
Cash
€3,317
31-12-2024 · €8,454-€5,137
Balance sheet total
€702,824
31-12-2024 · €776,317-€73,494
Largest movements
Assets
- Tangible fixed assets -€42,160
down €42,160 (-6.0%), from €700,152 to €657,993
of which Land and buildings: -€40,636
- Intangible fixed assets -€15,000
down €15,000 (-66.7%), from €22,500 to €7,500
- Receivables within one year -€11,197
down €11,197 (-24.9%), from €44,915 to €33,718
of which Trade receivables: -€10,686
Equity and liabilities
- Debts after one year -€44,870
down €44,870 (-15.4%), from €291,168 to €246,298
- Profit (loss) carried forward -€37,917
down €37,917 (-59.5%), from -€63,770 to -€101,687
- Other debts +€11,165
up €11,165 (+6.6%), from €169,638 to €180,803
Income statement
- Gross operating margin -€26,256
down €26,256 (-13.9%), from €188,359 to €162,103
- Purchases and services +€18,793
up €18,793 (+35.6%), from €52,752 to €71,546
- Financial charges -€8,555
down €8,555 (-31.9%), from €26,824 to €18,270
- Turnover -€7,462
down €7,462 (-3.1%), from €241,111 to €233,648
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
-€15,503
Gross operating margin
-€26,256
Staff costs
-€2,339
Depreciation
+€671
Other operating charges
-€2,294
Financial income
+€4
Financial charges
+€8,555
Deferred taxes and other
-€755
Result 31-12-2025
-€37,917
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€45,354
Investment
€0
Financing
-€50,491
Cash 31-12-2024
€8,454
From operations (derived)
+€45,354
Net result for the year
-€37,917
Depreciation
+€57,160
Receivables within one year
+€11,197
Provisions
-€1,510
Tax, wage and social debts
+€5,258
Other debts
+€11,165
Financing
-€50,491
Debts after one year
-€44,870
Short-term financial debts
+€419
Contributions, distributions and other
-€6,039
Cash 31-12-2025
€3,317
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €776,317 | €702,824 | -€73,494 | -9.5% |
| Fixed assets | 21/28 | €722,948 | €665,788 | -€57,160 | -7.9% |
| Intangible fixed assets | 21 | €22,500 | €7,500 | -€15,000 | -66.7% |
| Tangible fixed assets | 22/27 | €700,152 | €657,993 | -€42,160 | -6.0% |
| Land and buildings | 22 | €696,828 | €656,192 | -€40,636 | -5.8% |
| Plant, machinery and equipment | 23 | €2,563 | €1,655 | -€908 | -35.4% |
| Furniture and vehicles | 24 | €762 | €146 | -€616 | -80.8% |
| Financial fixed assets | 28 | €296 | €296 | = | 0.0% |
| Current assets | 29/58 | €53,369 | €37,035 | -€16,334 | -30.6% |
| Amounts receivable within one year | 40/41 | €44,915 | €33,718 | -€11,197 | -24.9% |
| Trade receivables | 40 | €43,453 | €32,766 | -€10,686 | -24.6% |
| Other amounts receivable | 41 | €1,462 | €951 | -€511 | -34.9% |
| Cash at bank and in hand | 54/58 | €8,454 | €3,317 | -€5,137 | -60.8% |
| Total equity and liabilities | 10/49 | €776,317 | €702,824 | -€73,494 | -9.5% |
| Equity | 10/15 | €236,433 | €192,476 | -€43,956 | -18.6% |
| Contributions | 10/11 | €166,930 | €166,930 | = | 0.0% |
| Reserves | 13 | €95,316 | €95,316 | = | 0.0% |
| Tax-exempt reserves | 132 | €95,316 | €95,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,770 | -€101,687 | -€37,917 | -59.5% |
| Investment grants | 15 | €37,957 | €31,917 | -€6,039 | -15.9% |
| Provisions and deferred taxes | 16 | €28,752 | €27,242 | -€1,510 | -5.3% |
| Deferred taxes | 168 | €28,752 | €27,242 | -€1,510 | -5.3% |
| Amounts payable | 17/49 | €511,132 | €483,105 | -€28,028 | -5.5% |
| Amounts payable after more than one year | 17 | €291,168 | €246,298 | -€44,870 | -15.4% |
| Financial debts | 170/4 | €291,168 | €246,298 | -€44,870 | -15.4% |
| Amounts payable within one year | 42/48 | €219,965 | €236,807 | +€16,843 | +7.7% |
| Financial debts | 43 | €44,451 | €44,870 | +€419 | +0.9% |
| Credit institutions | 430/8 | €44,451 | €44,870 | +€419 | +0.9% |
| Taxes, remuneration and social security | 45 | €5,876 | €11,134 | +€5,258 | +89.5% |
| Taxes | 450/3 | €379 | €606 | +€227 | +59.9% |
| Remuneration and social security | 454/9 | €5,497 | €10,528 | +€5,031 | +91.5% |
| Other amounts payable | 47/48 | €169,638 | €180,803 | +€11,165 | +6.6% |
| Turnover | 70 | €241,111 | €233,648 | -€7,462 | -3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €52,752 | €71,546 | +€18,793 | +35.6% |
| Remuneration, social security and pensions | 62 | €113,352 | €115,691 | +€2,339 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,831 | €57,160 | -€671 | -1.2% |
| Other operating charges | 640/8 | €8,119 | €10,413 | +€2,294 | +28.2% |
| Gross operating margin | 9900 | €188,359 | €162,103 | -€26,256 | -13.9% |
| Operating profit (loss) | 9901 | €9,056 | -€21,161 | -€30,217 | |
| Financial income | 75/76B | €0 | €4 | +€4 | +1,124% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +1,124% |
| Financial charges | 65/66B | €26,824 | €18,270 | -€8,555 | -31.9% |
| Recurring financial charges | 65 | €26,824 | €18,270 | -€8,555 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,768 | -€39,426 | -€21,659 | -122% |
| Transfer from deferred taxes | 780 | €2,265 | €1,510 | -€755 | -33.3% |
| Profit (loss) for the period | 9904 | -€15,503 | -€37,917 | -€22,414 | -145% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,503 | -€37,917 | -€22,414 | -145% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.