K INVEST: 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
K INVEST
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
-€270,487
2024 · -€413,488+€143,001
Equity
€77,232
2024 · €347,719-€270,487
Cash
€26,056
2024 · €46,723-€20,667
Balance sheet total
€9.9m
2024 · €10.5m-€626,822
Largest movements
Assets
- Stocks and contracts -€287,808
down €287,808 (-6.5%), from €4.5m to €4.2m
- Tangible fixed assets -€261,171
down €261,171 (-4.6%), from €5.6m to €5.4m
of which Land and buildings: -€240,084
Equity and liabilities
- Short-term financial debts -€362,990
down €362,990 (-7.4%), from €4.9m to €4.5m
- Profit (loss) carried forward -€270,487
down €270,487 (-21.1%), from -€1.3m to -€1.6m
- Other debts +€263,663
up €263,663 (+9.8%), from €2.7m to €3.0m
- Debts after one year -€256,515
down €256,515 (-50.6%), from €506,515 to €250,000
Income statement
- Financial charges -€84,411
down €84,411 (-28.5%), from €295,834 to €211,423
- Gross operating margin +€57,123
up €57,123 (+20.2%), from €282,646 to €339,768
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
-€413,488
Gross operating margin
+€57,123
Staff costs
+€2,269
Depreciation
-€133
Other operating charges
-€43
Financial income
-€337
Financial charges
+€84,411
Taxes
-€288
Result 2025
-€270,487
raises the resultlowers the result
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
+€680,200
Investment
-€23,000
Financing
-€677,866
Cash 2024
€46,723
From operations (derived)
+€680,200
Net result for the year
-€270,487
Depreciation
+€284,171
Stocks and contracts
+€287,808
Receivables within one year
+€53,854
Deferred charges and accrued income
+€3,322
Trade debts
+€66,315
Tax, wage and social debts
-€35
Advances received
-€6,413
Other debts
+€263,663
Accrued charges and deferred income
-€1,999
Investment (derived)
-€23,000
Investment in fixed assets (net)
-€23,000
Financing
-€677,866
Debts after one year
-€256,515
Current portion of long-term debt
-€58,361
Short-term financial debts
-€362,990
Cash 2025
€26,056
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,489,332 | €9,862,511 | -€626,822 | -6.0% |
| Fixed assets | 21/28 | €5,627,897 | €5,366,725 | -€261,171 | -4.6% |
| Tangible fixed assets | 22/27 | €5,623,897 | €5,362,725 | -€261,171 | -4.6% |
| Land and buildings | 22 | €5,537,099 | €5,297,015 | -€240,084 | -4.3% |
| Plant, machinery and equipment | 23 | €19,824 | €14,845 | -€4,979 | -25.1% |
| Furniture and vehicles | 24 | €66,973 | €50,865 | -€16,108 | -24.1% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €4,861,436 | €4,495,786 | -€365,650 | -7.5% |
| Stocks and contracts in progress | 3 | €4,460,118 | €4,172,310 | -€287,808 | -6.5% |
| Stocks | 30/36 | €4,460,118 | €4,172,310 | -€287,808 | -6.5% |
| Amounts receivable within one year | 40/41 | €348,711 | €294,857 | -€53,854 | -15.4% |
| Trade receivables | 40 | €227,300 | €243,988 | +€16,688 | +7.3% |
| Other amounts receivable | 41 | €121,411 | €50,869 | -€70,542 | -58.1% |
| Cash at bank and in hand | 54/58 | €46,723 | €26,056 | -€20,667 | -44.2% |
| Deferred charges and accrued income | 490/1 | €5,885 | €2,562 | -€3,322 | -56.5% |
| Total equity and liabilities | 10/49 | €10,489,332 | €9,862,511 | -€626,822 | -6.0% |
| Equity | 10/15 | €347,719 | €77,232 | -€270,487 | -77.8% |
| Contributions | 10/11 | €19,412 | €19,412 | = | 0.0% |
| Revaluation surpluses | 12 | €1,457,000 | €1,426,000 | -€31,000 | -2.1% |
| Reserves | 13 | €153,557 | €184,557 | +€31,000 | +20.2% |
| Distributable reserves | 133 | €153,557 | €184,557 | +€31,000 | +20.2% |
| Profit (loss) carried forward | 14 | -€1,282,250 | -€1,552,737 | -€270,487 | -21.1% |
| Amounts payable | 17/49 | €10,141,613 | €9,785,279 | -€356,334 | -3.5% |
| Amounts payable after more than one year | 17 | €506,515 | €250,000 | -€256,515 | -50.6% |
| Financial debts | 170/4 | €506,515 | €250,000 | -€256,515 | -50.6% |
| Amounts payable within one year | 42/48 | €9,625,049 | €9,527,229 | -€97,820 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €314,876 | €256,515 | -€58,361 | -18.5% |
| Financial debts | 43 | €4,899,440 | €4,536,450 | -€362,990 | -7.4% |
| Credit institutions | 430/8 | €4,899,440 | €4,536,450 | -€362,990 | -7.4% |
| Trade debts | 44 | €1,716,602 | €1,782,917 | +€66,315 | +3.9% |
| Suppliers | 440/4 | €1,716,602 | €1,782,917 | +€66,315 | +3.9% |
| Advances received on contracts in progress | 46 | €6,413 | - | -€6,413 | |
| Taxes, remuneration and social security | 45 | €44 | €9 | -€35 | -79.5% |
| Taxes | 450/3 | €44 | €9 | -€35 | -79.5% |
| Other amounts payable | 47/48 | €2,687,675 | €2,951,338 | +€263,663 | +9.8% |
| Accrued charges and deferred income | 492/3 | €10,049 | €8,050 | -€1,999 | -19.9% |
| Remuneration, social security and pensions | 62 | €2,269 | - | -€2,269 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284,038 | €284,171 | +€133 | 0.0% |
| Other operating charges | 640/8 | €114,938 | €114,981 | +€43 | 0.0% |
| Gross operating margin | 9900 | €282,646 | €339,768 | +€57,123 | +20.2% |
| Operating profit (loss) | 9901 | -€118,599 | -€59,384 | +€59,215 | +49.9% |
| Financial income | 75/76B | €656 | €319 | -€337 | -51.3% |
| Recurring financial income | 75 | €656 | €319 | -€337 | -51.3% |
| Non-recurring financial income | 76B | - | €319 | +€319 | |
| Financial charges | 65/66B | €295,834 | €211,423 | -€84,411 | -28.5% |
| Recurring financial charges | 65 | €295,834 | €211,423 | -€84,411 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€413,777 | -€270,487 | +€143,289 | +34.6% |
| Income taxes | 67/77 | -€288 | - | +€288 | |
| Profit (loss) for the period | 9904 | -€413,488 | -€270,487 | +€143,001 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€413,488 | -€270,487 | +€143,001 | +34.6% |
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 28 October 2026 via checked.be.