Immo Kratos: 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 Kratos
Largest movements
- Cash -€591,070
down €591,070 (-89.3%), from €661,745 to €70,675
mainly Current investments (-€477,448) and Investment in fixed assets (net) (-€270,898)
- Current investments +€477,448
new in 2025: €477,448
- Tangible fixed assets +€158,412
up €158,412 (+13.9%), from €1.1m to €1.3m
of which Land and buildings: +€92,625
- Reserves +€84,000
up €84,000 (+40.3%), from €208,526 to €292,526
of which Tax-exempt reserves: +€64,925
- Other debts -€51,272
down €51,272 (-100.0%), from €51,272 to €0
- Provisions +€21,642
up €21,642 (+124.4%), from €17,395 to €39,036
- Gross operating margin +€142,130
up €142,130 (+157.8%), from €90,086 to €232,216
- Depreciation -€5,286
down €5,286 (-4.5%), from €117,772 to €112,486
- Financial charges +€4,858
up €4,858 (+17046.6%), from €29 to €4,887
- Taxes +€2,438
up €2,438 (+312.3%), from €781 to €3,219
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 | €1,812,788 | €1,862,927 | +€50,139 | +2.8% |
| Fixed assets | 21/28 | €1,137,774 | €1,296,186 | +€158,412 | +13.9% |
| Tangible fixed assets | 22/27 | €1,137,774 | €1,296,186 | +€158,412 | +13.9% |
| Land and buildings | 22 | €1,079,878 | €1,172,502 | +€92,625 | +8.6% |
| Plant, machinery and equipment | 23 | €32,471 | €31,898 | -€573 | -1.8% |
| Furniture and vehicles | 24 | €25,425 | €91,785 | +€66,360 | +261.0% |
| Current assets | 29/58 | €675,014 | €566,741 | -€108,274 | -16.0% |
| Amounts receivable within one year | 40/41 | €5,990 | €10,677 | +€4,687 | +78.2% |
| Other amounts receivable | 41 | €5,990 | €10,677 | +€4,687 | +78.2% |
| Current investments | 50/53 | - | €477,448 | +€477,448 | |
| Cash at bank and in hand | 54/58 | €661,745 | €70,675 | -€591,070 | -89.3% |
| Deferred charges and accrued income | 490/1 | €7,279 | €7,940 | +€661 | +9.1% |
| Total equity and liabilities | 10/49 | €1,812,788 | €1,862,927 | +€50,139 | +2.8% |
| Equity | 10/15 | €1,729,224 | €1,813,225 | +€84,000 | +4.9% |
| Contributions | 10/11 | €990,303 | €990,303 | = | 0.0% |
| Capital | 10 | €990,303 | €990,303 | = | 0.0% |
| Issued capital | 100 | €990,303 | €990,303 | = | 0.0% |
| Reserves | 13 | €208,526 | €292,526 | +€84,000 | +40.3% |
| Non-distributable reserves | 130/1 | €50,871 | €51,825 | +€954 | +1.9% |
| Legal reserve | 130 | €50,871 | €51,825 | +€954 | +1.9% |
| Tax-exempt reserves | 132 | €44,492 | €109,417 | +€64,925 | +145.9% |
| Distributable reserves | 133 | €113,163 | €131,285 | +€18,121 | +16.0% |
| Profit (loss) carried forward | 14 | €530,396 | €530,396 | = | 0.0% |
| Provisions and deferred taxes | 16 | €17,395 | €39,036 | +€21,642 | +124.4% |
| Deferred taxes | 168 | €17,395 | €39,036 | +€21,642 | +124.4% |
| Amounts payable | 17/49 | €66,169 | €10,666 | -€55,503 | -83.9% |
| Amounts payable within one year | 42/48 | €66,169 | €10,666 | -€55,503 | -83.9% |
| Trade debts | 44 | €14,146 | €5,366 | -€8,780 | -62.1% |
| Suppliers | 440/4 | €14,146 | €5,366 | -€8,780 | -62.1% |
| Taxes, remuneration and social security | 45 | €752 | €5,300 | +€4,548 | +605.1% |
| Taxes | 450/3 | €752 | €5,300 | +€4,548 | +605.1% |
| Other amounts payable | 47/48 | €51,272 | €0 | -€51,272 | -100.0% |
| Non-recurring operating income | 76A | - | €122,605 | +€122,605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,772 | €112,486 | -€5,286 | -4.5% |
| Other operating charges | 640/8 | €29,521 | €28,149 | -€1,373 | -4.6% |
| Gross operating margin | 9900 | €90,086 | €232,216 | +€142,130 | +157.8% |
| Operating profit (loss) | 9901 | -€57,207 | €91,582 | +€148,788 | |
| Financial income | 75/76B | €22,646 | €22,166 | -€481 | -2.1% |
| Recurring financial income | 75 | €22,646 | €22,166 | -€481 | -2.1% |
| Financial charges | 65/66B | €29 | €4,887 | +€4,858 | +17046.6% |
| Recurring financial charges | 65 | €29 | €4,887 | +€4,858 | +17046.6% |
| Profit (loss) for the period before taxes | 9903 | -€34,589 | €108,860 | +€143,449 | |
| Transfer from deferred taxes | 780 | €8,299 | €9,010 | +€711 | +8.6% |
| Transfer to deferred taxes | 680 | - | €30,651 | +€30,651 | |
| Income taxes | 67/77 | €781 | €3,219 | +€2,438 | +312.3% |
| Profit (loss) for the period | 9904 | -€27,071 | €84,000 | +€111,071 | |
| Transfer from tax-exempt reserves | 789 | €24,896 | €27,029 | +€2,133 | +8.6% |
| Transfer to tax-exempt reserves | 689 | - | €91,954 | +€91,954 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,175 | €19,075 | +€21,250 |
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 6 October 2026 via checked.be.