Kalburg: 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
Kalburg
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€935,869
2024 · -€179,111+€1.1m
Equity
€1.1m
2024 · €174,898+€935,869
Cash
€20,107
2024 · €3,006+€17,101
Balance sheet total
€2.5m
2024 · €2.6m-€51,112
Largest movements
Assets
- Tangible fixed assets -€70,465
down €70,465 (-2.8%), from €2.5m to €2.5m
of which Land and buildings: -€83,317
Equity and liabilities
- Profit (loss) carried forward +€981,844
up €981,844 (+81.6%), from -€1.2m to -€221,666
- Current portion of long-term debt -€760,747
down €760,747 (-97.3%), from €781,502 to €20,755
- Other debts -€197,423
down €197,423 (-17.0%), from €1.2m to €964,124
- Reserves -€45,974
down €45,974 (-12.1%), from €378,461 to €332,487
of which Tax-exempt reserves: -€45,974
Income statement
- Gross operating margin +€1.1m
up €1.1m (+1,258%), from €87,473 to €1.2m
- Staff costs -€12,466
down €12,466 (-51.0%), from €24,455 to €11,989
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
-€179,111
Gross operating margin
+€1.1m
Staff costs
+€12,466
Depreciation
+€11,845
Other operating charges
-€7,981
Financial income
+€164
Financial charges
-€2,160
Taxes
-€105
Result 2025
€935,869
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
+€892,750
Investment
-€104,105
Financing
-€771,543
Cash 2024
€3,006
From operations (derived)
+€892,750
Net result for the year
+€935,869
Depreciation
+€174,570
Smaller working-capital items
-€4,942
Provisions
-€15,325
Other debts
-€197,423
Investment (derived)
-€104,105
Investment in fixed assets (net)
-€104,105
Financing
-€771,543
Debts after one year
-€10,797
Current portion of long-term debt
-€760,747
Cash 2025
€20,107
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,551,533 | €2,500,421 | -€51,112 | -2.0% |
| Fixed assets | 21/28 | €2,544,376 | €2,473,911 | -€70,465 | -2.8% |
| Tangible fixed assets | 22/27 | €2,544,126 | €2,473,661 | -€70,465 | -2.8% |
| Land and buildings | 22 | €2,540,840 | €2,457,523 | -€83,317 | -3.3% |
| Plant, machinery and equipment | 23 | €3,286 | €16,138 | +€12,852 | +391% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €7,158 | €26,510 | +€19,353 | +270% |
| Amounts receivable within one year | 40/41 | €1,315 | €2,573 | +€1,257 | +95.6% |
| Trade receivables | 40 | €680 | €299 | -€381 | -56.0% |
| Other amounts receivable | 41 | €635 | €2,273 | +€1,638 | +258% |
| Cash at bank and in hand | 54/58 | €3,006 | €20,107 | +€17,101 | +569% |
| Deferred charges and accrued income | 490/1 | €2,836 | €3,830 | +€994 | +35.0% |
| Total equity and liabilities | 10/49 | €2,551,533 | €2,500,421 | -€51,112 | -2.0% |
| Equity | 10/15 | €174,898 | €1,110,767 | +€935,869 | +535% |
| Contributions | 10/11 | €999,946 | €999,946 | = | 0.0% |
| Capital | 10 | €999,946 | €999,946 | = | 0.0% |
| Issued capital | 100 | €999,946 | €999,946 | = | 0.0% |
| Reserves | 13 | €378,461 | €332,487 | -€45,974 | -12.1% |
| Non-distributable reserves | 130/1 | €40,935 | €40,935 | = | 0.0% |
| Legal reserve | 130 | €40,935 | €40,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €337,526 | €291,552 | -€45,974 | -13.6% |
| Profit (loss) carried forward | 14 | -€1,203,510 | -€221,666 | +€981,844 | +81.6% |
| Provisions and deferred taxes | 16 | €112,509 | €97,184 | -€15,325 | -13.6% |
| Deferred taxes | 168 | €112,509 | €97,184 | -€15,325 | -13.6% |
| Amounts payable | 17/49 | €2,264,127 | €1,292,470 | -€971,657 | -42.9% |
| Amounts payable after more than one year | 17 | €302,270 | €291,474 | -€10,797 | -3.6% |
| Financial debts | 170/4 | €302,270 | €291,474 | -€10,797 | -3.6% |
| Amounts payable within one year | 42/48 | €1,961,856 | €1,000,996 | -€960,860 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €781,502 | €20,755 | -€760,747 | -97.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,422 | €3,444 | -€978 | -22.1% |
| Suppliers | 440/4 | €4,422 | €3,444 | -€978 | -22.1% |
| Advances received on contracts in progress | 46 | €1,360 | - | -€1,360 | |
| Taxes, remuneration and social security | 45 | €13,026 | €12,674 | -€352 | -2.7% |
| Taxes | 450/3 | €9,827 | €10,731 | +€904 | +9.2% |
| Remuneration and social security | 454/9 | €3,199 | €1,943 | -€1,256 | -39.3% |
| Other amounts payable | 47/48 | €1,161,546 | €964,124 | -€197,423 | -17.0% |
| Non-recurring operating income | 76A | - | €1,172,655 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €24,455 | €11,989 | -€12,466 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,416 | €174,570 | -€11,845 | -6.4% |
| Other operating charges | 640/8 | €18,657 | €26,638 | +€7,981 | +42.8% |
| Gross operating margin | 9900 | €87,473 | €1,188,224 | +€1.1m | +1,258% |
| Operating profit (loss) | 9901 | -€142,056 | €975,027 | +€1.1m | |
| Financial income | 75/76B | €4 | €168 | +€164 | +3,937% |
| Recurring financial income | 75 | €4 | €168 | +€164 | +3,937% |
| Financial charges | 65/66B | €51,812 | €53,973 | +€2,160 | +4.2% |
| Recurring financial charges | 65 | €51,812 | €53,973 | +€2,160 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€193,864 | €921,222 | +€1.1m | |
| Transfer from deferred taxes | 780 | €15,325 | €15,325 | = | 0.0% |
| Income taxes | 67/77 | €572 | €678 | +€105 | +18.4% |
| Profit (loss) for the period | 9904 | -€179,111 | €935,869 | +€1.1m | |
| Transfer from tax-exempt reserves | 789 | €45,974 | €45,974 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€133,137 | €981,844 | +€1.1m |
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.