KARA-IMMO: 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.
KARA-IMMO
Largest movements
- Receivables within one year -€262,094
down €262,094 (-93.2%), from €281,089 to €18,995
of which Other amounts receivable: -€232,068
- Tangible fixed assets -€45,871
down €45,871 (-5.4%), from €846,078 to €800,207
of which Land and buildings: -€34,466
- Other debts -€153,895
down €153,895 (-26.9%), from €571,786 to €417,891
- Current portion of long-term debt -€112,740
down €112,740 (-68.3%), from €165,106 to €52,366
- Debts after one year -€52,366
down €52,366 (-11.1%), from €469,665 to €417,299
- Profit (loss) carried forward +€34,565
up €34,565 (+6.7%), from €516,194 to €550,758
- Financial income -€245,000
no longer reported in 2025 (was €245,000)
- Depreciation -€10,677
down €10,677 (-18.9%), from €56,548 to €45,871
- Taxes +€3,209
up €3,209 (+28.8%), from €11,133 to €14,342
- Financial charges -€3,103
down €3,103 (-23.1%), from €13,408 to €10,306
- Gross operating margin +€2,836
up €2,836 (+3.4%), from €83,054 to €85,891
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,079,429 | €2,772,703 | -€306,725 | -10.0% |
| Fixed assets | 21/28 | €2,796,078 | €2,750,207 | -€45,871 | -1.6% |
| Tangible fixed assets | 22/27 | €846,078 | €800,207 | -€45,871 | -5.4% |
| Land and buildings | 22 | €801,458 | €766,992 | -€34,466 | -4.3% |
| Furniture and vehicles | 24 | €44,619 | €33,215 | -€11,404 | -25.6% |
| Financial fixed assets | 28 | €1,950,000 | €1,950,000 | = | 0.0% |
| Current assets | 29/58 | €283,351 | €22,496 | -€260,855 | -92.1% |
| Amounts receivable within one year | 40/41 | €281,089 | €18,995 | -€262,094 | -93.2% |
| Trade receivables | 40 | €32,795 | €2,769 | -€30,026 | -91.6% |
| Other amounts receivable | 41 | €248,294 | €16,226 | -€232,068 | -93.5% |
| Cash at bank and in hand | 54/58 | €259 | €1,405 | +€1,146 | +442% |
| Deferred charges and accrued income | 490/1 | €2,003 | €2,096 | +€93 | +4.6% |
| Total equity and liabilities | 10/49 | €3,079,429 | €2,772,703 | -€306,725 | -10.0% |
| Equity | 10/15 | €1,688,585 | €1,702,609 | +€14,023 | +0.8% |
| Contributions | 10/11 | €401,588 | €401,588 | = | 0.0% |
| Capital | 10 | €401,588 | €401,588 | = | 0.0% |
| Issued capital | 100 | €401,588 | €401,588 | = | 0.0% |
| Reserves | 13 | €770,804 | €750,263 | -€20,541 | -2.7% |
| Non-distributable reserves | 130/1 | €40,159 | €40,159 | = | 0.0% |
| Legal reserve | 130 | €40,159 | €40,159 | = | 0.0% |
| Tax-exempt reserves | 132 | €474,645 | €454,104 | -€20,541 | -4.3% |
| Distributable reserves | 133 | €256,000 | €256,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €516,194 | €550,758 | +€34,565 | +6.7% |
| Provisions and deferred taxes | 16 | €158,215 | €151,368 | -€6,847 | -4.3% |
| Deferred taxes | 168 | €158,215 | €151,368 | -€6,847 | -4.3% |
| Amounts payable | 17/49 | €1,232,628 | €918,726 | -€313,902 | -25.5% |
| Amounts payable after more than one year | 17 | €469,665 | €417,299 | -€52,366 | -11.1% |
| Financial debts | 170/4 | €469,665 | €417,299 | -€52,366 | -11.1% |
| Amounts payable within one year | 42/48 | €762,963 | €496,070 | -€266,893 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €165,106 | €52,366 | -€112,740 | -68.3% |
| Trade debts | 44 | - | €338 | +€338 | |
| Suppliers | 440/4 | - | €338 | +€338 | |
| Taxes, remuneration and social security | 45 | €26,071 | €25,475 | -€596 | -2.3% |
| Taxes | 450/3 | €26,071 | €25,475 | -€596 | -2.3% |
| Other amounts payable | 47/48 | €571,786 | €417,891 | -€153,895 | -26.9% |
| Accrued charges and deferred income | 492/3 | - | €5,358 | +€5,358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,548 | €45,871 | -€10,677 | -18.9% |
| Other operating charges | 640/8 | €7,148 | €8,196 | +€1,048 | +14.7% |
| Gross operating margin | 9900 | €83,054 | €85,891 | +€2,836 | +3.4% |
| Operating profit (loss) | 9901 | €19,358 | €31,824 | +€12,466 | +64.4% |
| Financial income | 75/76B | €245,000 | - | -€245,000 | |
| Recurring financial income | 75 | €245,000 | - | -€245,000 | |
| Financial charges | 65/66B | €13,408 | €10,306 | -€3,103 | -23.1% |
| Recurring financial charges | 65 | €13,408 | €10,306 | -€3,103 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €250,950 | €21,518 | -€229,431 | -91.4% |
| Transfer from deferred taxes | 780 | €27,388 | €6,847 | -€20,541 | -75.0% |
| Income taxes | 67/77 | €11,133 | €14,342 | +€3,209 | +28.8% |
| Profit (loss) for the period | 9904 | €267,205 | €14,023 | -€253,182 | -94.8% |
| Transfer from tax-exempt reserves | 789 | - | €20,541 | +€20,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €267,205 | €34,565 | -€232,640 | -87.1% |
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.