KA IMMO: 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.
KA IMMO
Largest movements
- Tangible fixed assets -€177,977
down €177,977 (-18.0%), from €988,033 to €810,056
of which Land and buildings: -€177,892
- Receivables within one year -€63,790
down €63,790 (-46.5%), from €137,202 to €73,412
of which Trade receivables: -€53,984
- Debts after one year -€174,347
down €174,347 (-23.1%), from €754,841 to €580,494
of which Financial debts: -€176,517
- Other debts -€68,310
down €68,310 (-16.1%), from €425,246 to €356,936
- Profit (loss) carried forward +€40,815
up €40,815 (+16.2%), from -€252,097 to -€211,282
- Trade debts -€24,490
down €24,490 (-22.7%), from €107,810 to €83,320
- Gross operating margin -€54,350
down €54,350 (-24.2%), from €224,302 to €169,953
- Financial charges -€5,134
down €5,134 (-15.9%), from €32,391 to €27,257
- Depreciation -€2,930
down €2,930 (-3.9%), from €74,199 to €71,269
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 | €1,135,314 | €896,837 | -€238,477 | -21.0% |
| Fixed assets | 21/28 | €988,033 | €810,056 | -€177,977 | -18.0% |
| Tangible fixed assets | 22/27 | €988,033 | €810,056 | -€177,977 | -18.0% |
| Land and buildings | 22 | €987,610 | €809,718 | -€177,892 | -18.0% |
| Other tangible fixed assets | 26 | €424 | €339 | -€85 | -20.0% |
| Current assets | 29/58 | €147,280 | €86,781 | -€60,500 | -41.1% |
| Amounts receivable within one year | 40/41 | €137,202 | €73,412 | -€63,790 | -46.5% |
| Trade receivables | 40 | €85,409 | €31,424 | -€53,984 | -63.2% |
| Other amounts receivable | 41 | €51,793 | €41,988 | -€9,805 | -18.9% |
| Cash at bank and in hand | 54/58 | €5,632 | €6,577 | +€946 | +16.8% |
| Deferred charges and accrued income | 490/1 | €4,447 | €6,791 | +€2,344 | +52.7% |
| Total equity and liabilities | 10/49 | €1,135,314 | €896,837 | -€238,477 | -21.0% |
| Equity | 10/15 | -€233,497 | -€192,682 | +€40,815 | +17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€252,097 | -€211,282 | +€40,815 | +16.2% |
| Amounts payable | 17/49 | €1,368,811 | €1,089,519 | -€279,291 | -20.4% |
| Amounts payable after more than one year | 17 | €754,841 | €580,494 | -€174,347 | -23.1% |
| Financial debts | 170/4 | €751,041 | €574,524 | -€176,517 | -23.5% |
| Other amounts payable | 178/9 | €3,800 | €5,970 | +€2,170 | +57.1% |
| Amounts payable within one year | 42/48 | €606,579 | €503,510 | -€103,069 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €61,855 | €59,544 | -€2,311 | -3.7% |
| Trade debts | 44 | €107,810 | €83,320 | -€24,490 | -22.7% |
| Suppliers | 440/4 | €107,810 | €83,320 | -€24,490 | -22.7% |
| Taxes, remuneration and social security | 45 | €11,669 | €3,710 | -€7,959 | -68.2% |
| Taxes | 450/3 | €11,669 | €3,710 | -€7,959 | -68.2% |
| Other amounts payable | 47/48 | €425,246 | €356,936 | -€68,310 | -16.1% |
| Accrued charges and deferred income | 492/3 | €7,390 | €5,515 | -€1,875 | -25.4% |
| Non-recurring operating income | 76A | €24,528 | - | -€24,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,199 | €71,269 | -€2,930 | -3.9% |
| Other operating charges | 640/8 | €29,444 | €30,548 | +€1,104 | +3.8% |
| Non-recurring operating charges | 66A | €143 | €66 | -€77 | -53.8% |
| Gross operating margin | 9900 | €224,302 | €169,953 | -€54,350 | -24.2% |
| Operating profit (loss) | 9901 | €120,516 | €68,070 | -€52,446 | -43.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +3350.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +3350.0% |
| Financial charges | 65/66B | €32,391 | €27,257 | -€5,134 | -15.9% |
| Recurring financial charges | 65 | €32,391 | €27,257 | -€5,134 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €88,125 | €40,815 | -€47,311 | -53.7% |
| Profit (loss) for the period | 9904 | €88,125 | €40,815 | -€47,311 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €88,125 | €40,815 | -€47,311 | -53.7% |
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 5 October 2026 via checked.be.