Immo Kwaliteitsfonds: 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 Kwaliteitsfonds
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,096
2024 · €74,413-€16,318
Equity
€2.1m
2024 · €2.2m-€46,117
Cash
€357,123
2024 · €15,304+€341,819
Balance sheet total
€18.8m
2024 · €19.2m-€431,781
Largest movements
Assets
- Tangible fixed assets -€901,880
down €901,880 (-5.1%), from €17.6m to €16.7m
of which Land and buildings: -€859,530
- Cash +€341,819
up €341,819 (+2,234%), from €15,304 to €357,123
mainly Depreciation (+€1.1m) and Tax, wage and social debts (+€58,604)
Equity and liabilities
- Short-term financial debts -€241,393
down €241,393 (-100%), from €241,393 to €0
- Debts after one year -€192,676
down €192,676 (-1.3%), from €14.7m to €14.5m
of which Financial debts: -€192,676
Income statement
- Gross operating margin -€241,032
down €241,032 (-14.7%), from €1.6m to €1.4m
- Turnover -€190,674
down €190,674 (-9.2%), from €2.1m to €1.9m
- Other operating charges -€144,784
down €144,784 (-62.1%), from €233,063 to €88,278
- Purchases and services -€103,001
down €103,001 (-7.0%), from €1.5m to €1.4m
- Financial charges -€64,004
down €64,004 (-31.5%), from €202,929 to €138,924
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
€74,413
Gross operating margin
-€241,032
Depreciation
+€27,423
Other operating charges
+€144,784
Financial income
-€8,613
Financial charges
+€64,004
Taxes
+€6,058
Deferred taxes and other
-€8,942
Result 2025
€58,096
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
+€1.1m
Investment
-€235,346
Financing
-€541,049
Cash 2024
€15,304
From operations (derived)
+€1.1m
Net result for the year
+€58,096
Depreciation
+€1.1m
Receivables within one year
-€124,517
Deferred charges and accrued income
-€3,763
Provisions
-€34,737
Trade debts
+€25,756
Tax, wage and social debts
+€58,604
Accrued charges and deferred income
+€1,550
Investment (derived)
-€235,346
Investment in fixed assets (net)
-€235,346
Financing
-€541,049
Debts after one year
-€192,676
Current portion of long-term debt
-€2,768
Short-term financial debts
-€241,393
Contributions, distributions and other
-€104,212
Cash 2025
€357,123
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,236,812 | €18,805,031 | -€431,781 | -2.2% |
| Fixed assets | 21/28 | €17,575,861 | €16,673,981 | -€901,880 | -5.1% |
| Tangible fixed assets | 22/27 | €17,561,020 | €16,659,139 | -€901,880 | -5.1% |
| Land and buildings | 22 | €16,966,161 | €16,106,631 | -€859,530 | -5.1% |
| Plant, machinery and equipment | 23 | €560,011 | €544,201 | -€15,810 | -2.8% |
| Furniture and vehicles | 24 | €3,943 | €97 | -€3,845 | -97.5% |
| Other tangible fixed assets | 26 | €17,569 | €8,210 | -€9,359 | -53.3% |
| Assets under construction and advance payments | 27 | €13,336 | - | -€13,336 | |
| Financial fixed assets | 28 | €14,842 | €14,842 | = | 0.0% |
| Current assets | 29/58 | €1,660,951 | €2,131,050 | +€470,099 | +28.3% |
| Amounts receivable within one year | 40/41 | €808,072 | €932,589 | +€124,517 | +15.4% |
| Trade receivables | 40 | €808,072 | €932,589 | +€124,517 | +15.4% |
| Current investments | 50/53 | €734,665 | €734,665 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,304 | €357,123 | +€341,819 | +2,234% |
| Deferred charges and accrued income | 490/1 | €102,910 | €106,673 | +€3,763 | +3.7% |
| Total equity and liabilities | 10/49 | €19,236,812 | €18,805,031 | -€431,781 | -2.2% |
| Equity | 10/15 | €2,193,760 | €2,147,644 | -€46,117 | -2.1% |
| Contributions | 10/11 | €934,745 | €934,745 | = | 0.0% |
| Capital | 10 | €934,745 | €934,745 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,003 | €256,099 | +€58,096 | +29.3% |
| Investment grants | 15 | €1,061,013 | €956,800 | -€104,212 | -9.8% |
| Provisions and deferred taxes | 16 | €306,307 | €271,569 | -€34,737 | -11.3% |
| Deferred taxes | 168 | €306,307 | €271,569 | -€34,737 | -11.3% |
| Amounts payable | 17/49 | €16,736,745 | €16,385,819 | -€350,927 | -2.1% |
| Amounts payable after more than one year | 17 | €14,682,913 | €14,490,237 | -€192,676 | -1.3% |
| Financial debts | 170/4 | €14,353,655 | €14,160,979 | -€192,676 | -1.3% |
| Other amounts payable | 178/9 | €329,259 | €329,259 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,049,373 | €1,889,573 | -€159,801 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €673,694 | €670,926 | -€2,768 | -0.4% |
| Financial debts | 43 | €241,393 | €0 | -€241,393 | -100% |
| Credit institutions | 430/8 | €241,393 | €0 | -€241,393 | -100% |
| Trade debts | 44 | €1,068,107 | €1,093,863 | +€25,756 | +2.4% |
| Suppliers | 440/4 | €1,068,107 | €1,093,863 | +€25,756 | +2.4% |
| Taxes, remuneration and social security | 45 | €66,179 | €124,783 | +€58,604 | +88.6% |
| Taxes | 450/3 | €66,179 | €124,783 | +€58,604 | +88.6% |
| Accrued charges and deferred income | 492/3 | €4,459 | €6,008 | +€1,550 | +34.8% |
| Turnover | 70 | €2,074,157 | €1,883,483 | -€190,674 | -9.2% |
| Membership fees, donations, legacies and grants | 73 | €131,040 | €104,212 | -€26,827 | -20.5% |
| Non-recurring operating income | 76A | €33,568 | - | -€33,568 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,468,759 | €1,365,758 | -€103,001 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,164,649 | €1,137,226 | -€27,423 | -2.4% |
| Other operating charges | 640/8 | €233,063 | €88,278 | -€144,784 | -62.1% |
| Gross operating margin | 9900 | €1,643,509 | €1,402,477 | -€241,032 | -14.7% |
| Operating profit (loss) | 9901 | €245,797 | €176,973 | -€68,824 | -28.0% |
| Financial income | 75/76B | €12,358 | €3,745 | -€8,613 | -69.7% |
| Recurring financial income | 75 | €12,358 | €183 | -€12,175 | -98.5% |
| Non-recurring financial income | 76B | - | €3,562 | +€3,562 | |
| Financial charges | 65/66B | €202,929 | €138,924 | -€64,004 | -31.5% |
| Recurring financial charges | 65 | €202,929 | €138,924 | -€64,004 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €55,226 | €41,794 | -€13,433 | -24.3% |
| Transfer from deferred taxes | 780 | €43,680 | €34,737 | -€8,942 | -20.5% |
| Income taxes | 67/77 | €24,493 | €18,435 | -€6,058 | -24.7% |
| Profit (loss) for the period | 9904 | €74,413 | €58,096 | -€16,318 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €74,413 | €58,096 | -€16,318 | -21.9% |
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 29 October 2026 via checked.be.