KALIM: 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
KALIM
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
€37,851
2024 · €41,890-€4,039
Equity
€2.0m
2024 · €2.0m+€37,851
Cash
€15,015
2024 · €19,759-€4,744
Balance sheet total
€2.8m
2024 · €2.8m-€24,954
Largest movements
Assets
- Receivables within one year +€208,874
up €208,874 (+257%), from €81,389 to €290,263
- Tangible fixed assets -€121,148
down €121,148 (-4.7%), from €2.6m to €2.4m
- Receivables after one year -€105,626
down €105,626 (-100%), from €105,626 to €0
Equity and liabilities
- Debts after one year -€60,803
down €60,803 (-8.0%), from €758,629 to €697,826
- Reserves +€38,000
up €38,000 (+2.4%), from €1.6m to €1.7m
of which Distributable reserves: +€38,000
Income statement
- Gross operating margin -€6,948
down €6,948 (-2.7%), from €258,854 to €251,906
- Taxes -€2,970
down €2,970 (-21.1%), from €14,092 to €11,121
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
€41,890
Gross operating margin
-€6,948
Depreciation
-€1,624
Other operating charges
-€172
Financial income
-€602
Financial charges
+€2,337
Taxes
+€2,970
Result 2025
€37,851
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
+€101,938
Investment
-€48,046
Financing
-€58,636
Cash 2024
€19,759
From operations (derived)
+€101,938
Net result for the year
+€37,851
Depreciation
+€169,194
Receivables after one year
+€105,626
Receivables within one year
-€208,874
Deferred charges and accrued income
+€2,310
Trade debts
-€4,168
Investment (derived)
-€48,046
Investment in fixed assets (net)
-€48,046
Financing
-€58,636
Debts after one year
-€60,803
Current portion of long-term debt
+€2,166
Short-term financial debts
+€1
Cash 2025
€15,015
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,778,505 | €2,753,552 | -€24,954 | -0.9% |
| Fixed assets | 21/28 | €2,569,030 | €2,447,882 | -€121,148 | -4.7% |
| Tangible fixed assets | 22/27 | €2,569,030 | €2,447,882 | -€121,148 | -4.7% |
| Land and buildings | 22 | €2,569,030 | €2,447,882 | -€121,148 | -4.7% |
| Current assets | 29/58 | €209,476 | €305,670 | +€96,194 | +45.9% |
| Amounts receivable after more than one year | 29 | €105,626 | €0 | -€105,626 | -100% |
| Other amounts receivable | 291 | €105,626 | €0 | -€105,626 | -100% |
| Amounts receivable within one year | 40/41 | €81,389 | €290,263 | +€208,874 | +257% |
| Other amounts receivable | 41 | €81,389 | €290,263 | +€208,874 | +257% |
| Cash at bank and in hand | 54/58 | €19,759 | €15,015 | -€4,744 | -24.0% |
| Deferred charges and accrued income | 490/1 | €2,702 | €392 | -€2,310 | -85.5% |
| Total equity and liabilities | 10/49 | €2,778,505 | €2,753,552 | -€24,954 | -0.9% |
| Equity | 10/15 | €1,950,629 | €1,988,480 | +€37,851 | +1.9% |
| Contributions | 10/11 | €333,693 | €333,693 | = | 0.0% |
| Capital | 10 | €333,693 | €333,693 | = | 0.0% |
| Issued capital | 100 | €333,693 | €333,693 | = | 0.0% |
| Reserves | 13 | €1,616,369 | €1,654,369 | +€38,000 | +2.4% |
| Non-distributable reserves | 130/1 | €33,369 | €33,369 | = | 0.0% |
| Legal reserve | 130 | €33,369 | €33,369 | = | 0.0% |
| Distributable reserves | 133 | €1,583,000 | €1,621,000 | +€38,000 | +2.4% |
| Profit (loss) carried forward | 14 | €566 | €417 | -€149 | -26.3% |
| Amounts payable | 17/49 | €827,877 | €765,072 | -€62,805 | -7.6% |
| Amounts payable after more than one year | 17 | €758,629 | €697,826 | -€60,803 | -8.0% |
| Financial debts | 170/4 | €758,629 | €697,826 | -€60,803 | -8.0% |
| Amounts payable within one year | 42/48 | €69,247 | €67,246 | -€2,001 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €58,638 | €60,803 | +€2,166 | +3.7% |
| Financial debts | 43 | €5,121 | €5,122 | +€1 | 0.0% |
| Credit institutions | 430/8 | €5,121 | €5,122 | +€1 | 0.0% |
| Trade debts | 44 | €5,489 | €1,321 | -€4,168 | -75.9% |
| Suppliers | 440/4 | €5,489 | €1,321 | -€4,168 | -75.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,570 | €169,194 | +€1,624 | +1.0% |
| Other operating charges | 640/8 | €5,687 | €5,860 | +€172 | +3.0% |
| Gross operating margin | 9900 | €258,854 | €251,906 | -€6,948 | -2.7% |
| Operating profit (loss) | 9901 | €85,597 | €76,853 | -€8,744 | -10.2% |
| Financial income | 75/76B | €2,581 | €1,979 | -€602 | -23.3% |
| Recurring financial income | 75 | €2,581 | €1,979 | -€602 | -23.3% |
| Financial charges | 65/66B | €32,196 | €29,859 | -€2,337 | -7.3% |
| Recurring financial charges | 65 | €32,196 | €29,859 | -€2,337 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €55,982 | €48,972 | -€7,009 | -12.5% |
| Income taxes | 67/77 | €14,092 | €11,121 | -€2,970 | -21.1% |
| Profit (loss) for the period | 9904 | €41,890 | €37,851 | -€4,039 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,890 | €37,851 | -€4,039 | -9.6% |
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 17 October 2026 via checked.be.