K.G. Invest: what changed
What changed
K.G. Invest
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€20,378
2024 · €71,041-€91,419
Equity
€275,456
2024 · €395,835-€120,378
Cash
€12,174
2024 · €5,610+€6,564
Balance sheet total
€1.5m
2024 · €1.3m+€207,757
Largest movements
Assets
- Receivables within one year +€110,120
up €110,120 (+76.3%), from €144,259 to €254,379
of which Trade receivables: +€66,911
- Tangible fixed assets +€88,049
up €88,049 (+28.6%), from €307,551 to €395,601
of which Furniture and vehicles: +€115,172
Equity and liabilities
- Other debts +€337,500
up €337,500 (+93.4%), from €361,493 to €698,993
- Reserves -€120,378
down €120,378 (-30.9%), from €389,635 to €269,256
- Debts after one year -€75,613
down €75,613 (-24.2%), from €311,957 to €236,344
- Trade debts +€40,501
up €40,501 (+1,279%), from €3,166 to €43,667
- Current portion of long-term debt +€15,775
up €15,775 (+9.9%), from €158,857 to €174,633
Income statement
- Gross operating margin -€106,232
down €106,232 (-46.0%), from €230,812 to €124,581
- Taxes -€39,145
no longer reported in 2025 (was €39,145)
- Other operating charges +€24,700
up €24,700 (+431%), from €5,734 to €30,435
- Financial income +€13,191
up €13,191 (+55,010%), from €24 to €13,215
- Depreciation +€9,812
up €9,812 (+26.0%), from €37,755 to €47,567
Change in the result, 2024 to 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 2024
€71,041
Gross operating margin
-€106,232
Staff costs
-€3,032
Depreciation
-€9,812
Other operating charges
-€24,700
Financial income
+€13,191
Financial charges
+€22
Taxes
+€39,145
Result 2025
-€20,378
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€302,018
Investment
-€135,616
Financing
-€159,838
Cash 2024
€5,610
From operations (derived)
+€302,018
Net result for the year
-€20,378
Depreciation
+€47,567
Receivables within one year
-€110,120
Deferred charges and accrued income
-€3,024
Trade debts
+€40,501
Tax, wage and social debts
+€9,653
Other debts
+€337,500
Accrued charges and deferred income
+€320
Investment (derived)
-€135,616
Investment in fixed assets (net)
-€135,616
Financing
-€159,838
Debts after one year
-€75,613
Current portion of long-term debt
+€15,775
Contributions, distributions and other
-€100,000
Cash 2025
€12,174
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,308,627 | €1,516,384 | +€207,757 | +15.9% |
| Fixed assets | 21/28 | €1,153,551 | €1,241,601 | +€88,049 | +7.6% |
| Tangible fixed assets | 22/27 | €307,551 | €395,601 | +€88,049 | +28.6% |
| Furniture and vehicles | 24 | €18,347 | €133,518 | +€115,172 | +628% |
| Other tangible fixed assets | 26 | €289,205 | €262,082 | -€27,123 | -9.4% |
| Financial fixed assets | 28 | €846,000 | €846,000 | = | 0.0% |
| Current assets | 29/58 | €155,076 | €274,784 | +€119,708 | +77.2% |
| Amounts receivable within one year | 40/41 | €144,259 | €254,379 | +€110,120 | +76.3% |
| Trade receivables | 40 | - | €66,911 | +€66,911 | |
| Other amounts receivable | 41 | €144,259 | €187,468 | +€43,208 | +30.0% |
| Cash at bank and in hand | 54/58 | €5,610 | €12,174 | +€6,564 | +117% |
| Deferred charges and accrued income | 490/1 | €5,207 | €8,231 | +€3,024 | +58.1% |
| Total equity and liabilities | 10/49 | €1,308,627 | €1,516,384 | +€207,757 | +15.9% |
| Equity | 10/15 | €395,835 | €275,456 | -€120,378 | -30.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €389,635 | €269,256 | -€120,378 | -30.9% |
| Distributable reserves | 133 | €389,635 | €269,256 | -€120,378 | -30.9% |
| Amounts payable | 17/49 | €912,793 | €1,240,928 | +€328,135 | +35.9% |
| Amounts payable after more than one year | 17 | €311,957 | €236,344 | -€75,613 | -24.2% |
| Financial debts | 170/4 | €311,957 | €236,344 | -€75,613 | -24.2% |
| Amounts payable within one year | 42/48 | €599,968 | €1,003,396 | +€403,428 | +67.2% |
| Current portion of amounts payable after more than one year | 42 | €158,857 | €174,633 | +€15,775 | +9.9% |
| Trade debts | 44 | €3,166 | €43,667 | +€40,501 | +1,279% |
| Suppliers | 440/4 | €3,166 | €43,667 | +€40,501 | +1,279% |
| Taxes, remuneration and social security | 45 | €76,452 | €86,104 | +€9,653 | +12.6% |
| Taxes | 450/3 | €67,129 | €67,601 | +€472 | +0.7% |
| Remuneration and social security | 454/9 | €9,322 | €18,503 | +€9,181 | +98.5% |
| Other amounts payable | 47/48 | €361,493 | €698,993 | +€337,500 | +93.4% |
| Accrued charges and deferred income | 492/3 | €868 | €1,188 | +€320 | +36.9% |
| Remuneration, social security and pensions | 62 | €62,331 | €65,363 | +€3,032 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,755 | €47,567 | +€9,812 | +26.0% |
| Other operating charges | 640/8 | €5,734 | €30,435 | +€24,700 | +431% |
| Gross operating margin | 9900 | €230,812 | €124,581 | -€106,232 | -46.0% |
| Operating profit (loss) | 9901 | €124,992 | -€18,784 | -€143,776 | |
| Financial income | 75/76B | €24 | €13,215 | +€13,191 | +55,010% |
| Recurring financial income | 75 | €24 | €13,215 | +€13,191 | +55,010% |
| Financial charges | 65/66B | €14,831 | €14,809 | -€22 | -0.1% |
| Recurring financial charges | 65 | €14,831 | €14,809 | -€22 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €110,185 | -€20,378 | -€130,563 | |
| Income taxes | 67/77 | €39,145 | - | -€39,145 | |
| Profit (loss) for the period | 9904 | €71,041 | -€20,378 | -€91,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €71,041 | -€20,378 | -€91,419 |
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 4 November 2026 via checked.be.