KAZA CONSULTING: what changed
What changed
KAZA CONSULTING
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €488,194+€1.6m
Equity
€3.4m
2024 · €1.3m+€2.0m
Cash
€33,791
2024 · €21,628+€12,163
Balance sheet total
€3.8m
2024 · €2.7m+€1.1m
Largest movements
Assets
- Current investments +€848,954
new in 2025: €848,954
- Receivables within one year +€337,515
up €337,515 (+6,750%), from €5,000 to €342,515
of which Other amounts receivable: +€342,515
- Financial fixed assets -€181,168
down €181,168 (-74.9%), from €241,807 to €60,639
- Tangible fixed assets +€53,385
up €53,385 (+2.2%), from €2.5m to €2.5m
of which Furniture and vehicles: +€64,744
Equity and liabilities
- Profit (loss) carried forward +€2.0m
up €2.0m (+157%), from €1.3m to €3.3m
- Debts after one year -€929,152
down €929,152 (-68.9%), from €1.3m to €419,536
of which Other amounts payable: -€525,789
Income statement
- Financial income +€1.6m
up €1.6m (+278%), from €570,181 to €2.2m
of which Financial income: +€1.4m
- Gross operating margin -€25,954
down €25,954 (-29.0%), from €89,535 to €63,581
- Financial charges -€23,034
down €23,034 (-44.5%), from €51,785 to €28,751
- Depreciation +€21,920
up €21,920 (+27.7%), from €79,084 to €101,004
- Other operating charges +€4,933
up €4,933 (+52.5%), from €9,393 to €14,326
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€488,194
Gross operating margin
-€25,954
Staff costs
-€632
Depreciation
-€21,920
Other operating charges
-€4,933
Financial income
+€1.6m
Financial charges
+€23,034
Taxes
-€382
Result 2025
€2.0m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.8m
Investment
-€822,176
Financing
-€947,827
Cash 2024
€21,628
From operations (derived)
+€1.8m
Net result for the year
+€2.0m
Depreciation
+€101,004
Receivables within one year
-€337,515
Smaller working-capital items
-€4,972
Trade debts
-€11,359
Tax, wage and social debts
-€6,301
Investment (derived)
-€822,176
Investment in fixed assets (net)
+€26,778
Current investments
-€848,954
Financing
-€947,827
Debts after one year
-€929,152
Current portion of long-term debt
-€18,676
Cash 2025
€33,791
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,734,857 | €3,807,091 | +€1.1m | +39.2% |
| Fixed assets | 21/28 | €2,704,849 | €2,577,067 | -€127,782 | -4.7% |
| Tangible fixed assets | 22/27 | €2,463,043 | €2,516,428 | +€53,385 | +2.2% |
| Land and buildings | 22 | €2,281,138 | €2,213,569 | -€67,569 | -3.0% |
| Plant, machinery and equipment | 23 | €180,449 | €236,660 | +€56,210 | +31.2% |
| Furniture and vehicles | 24 | €1,456 | €66,200 | +€64,744 | +4,448% |
| Financial fixed assets | 28 | €241,807 | €60,639 | -€181,168 | -74.9% |
| Current assets | 29/58 | €30,008 | €1,230,024 | +€1.2m | +3,999% |
| Amounts receivable within one year | 40/41 | €5,000 | €342,515 | +€337,515 | +6,750% |
| Trade receivables | 40 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 41 | - | €342,515 | +€342,515 | |
| Current investments | 50/53 | - | €848,954 | +€848,954 | |
| Cash at bank and in hand | 54/58 | €21,628 | €33,791 | +€12,163 | +56.2% |
| Deferred charges and accrued income | 490/1 | €3,380 | €4,764 | +€1,384 | +40.9% |
| Total equity and liabilities | 10/49 | €2,734,857 | €3,807,091 | +€1.1m | +39.2% |
| Equity | 10/15 | €1,341,878 | €3,383,187 | +€2.0m | +152% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,301,278 | €3,342,587 | +€2.0m | +157% |
| Amounts payable | 17/49 | €1,392,979 | €423,905 | -€969,075 | -69.6% |
| Amounts payable after more than one year | 17 | €1,348,687 | €419,536 | -€929,152 | -68.9% |
| Financial debts | 170/4 | €403,363 | - | -€403,363 | |
| Other amounts payable | 178/9 | €945,324 | €419,536 | -€525,789 | -55.6% |
| Amounts payable within one year | 42/48 | €40,769 | €4,369 | -€36,400 | -89.3% |
| Current portion of amounts payable after more than one year | 42 | €18,676 | - | -€18,676 | |
| Trade debts | 44 | €11,399 | €41 | -€11,359 | -99.6% |
| Suppliers | 440/4 | €11,399 | €41 | -€11,359 | -99.6% |
| Taxes, remuneration and social security | 45 | €10,527 | €4,227 | -€6,301 | -59.9% |
| Taxes | 450/3 | €3,394 | €4,227 | +€833 | +24.5% |
| Remuneration and social security | 454/9 | €7,133 | - | -€7,133 | |
| Other amounts payable | 47/48 | €166 | €101 | -€65 | -38.9% |
| Accrued charges and deferred income | 492/3 | €3,523 | - | -€3,523 | |
| Remuneration, social security and pensions | 62 | €31,259 | €31,890 | +€632 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,084 | €101,004 | +€21,920 | +27.7% |
| Other operating charges | 640/8 | €9,393 | €14,326 | +€4,933 | +52.5% |
| Gross operating margin | 9900 | €89,535 | €63,581 | -€25,954 | -29.0% |
| Operating profit (loss) | 9901 | -€30,201 | -€83,639 | -€53,438 | -177% |
| Financial income | 75/76B | €570,181 | €2,154,083 | +€1.6m | +278% |
| Recurring financial income | 75 | €570,181 | €1,992,736 | +€1.4m | +249% |
| Non-recurring financial income | 76B | - | €161,347 | +€161,347 | |
| Financial charges | 65/66B | €51,785 | €28,751 | -€23,034 | -44.5% |
| Recurring financial charges | 65 | €51,785 | €28,751 | -€23,034 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | €488,196 | €2,041,693 | +€1.6m | +318% |
| Income taxes | 67/77 | €2 | €384 | +€382 | +23,903% |
| Profit (loss) for the period | 9904 | €488,194 | €2,041,309 | +€1.6m | +318% |
| Profit (loss) for the period to be appropriated | 9905 | €488,194 | €2,041,309 | +€1.6m | +318% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.