KEMISOL: 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
KEMISOL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€424,877
2024 · €22.0m-€21.5m
Equity
€5.6m
2024 · €9.1m-€3.6m
Cash
€605,451
2024 · €527,998+€77,454
Balance sheet total
€13.0m
2024 · €31.2m-€18.3m
Largest movements
Assets
- Financial fixed assets -€18.6m
down €18.6m (-63.8%), from €29.2m to €10.6m
- Receivables within one year +€595,915
up €595,915 (+255.1%), from €233,561 to €829,476
of which Trade receivables: +€439,876
Equity and liabilities
- Other debts -€14.6m
down €14.6m (-69.9%), from €21.0m to €6.3m
- Reserves -€3.6m
down €3.6m (-83.0%), from €4.3m to €731,994
of which Distributable reserves: -€3.6m
Income statement
- Financial income -€14.5m
down €14.5m (-94.2%), from €15.4m to €895,098
- Taxes -€2.1m
down €2.1m (-93.7%), from €2.3m to €143,063
of which Taxes: -€2.1m
- Turnover -€706,200
down €706,200 (-44.3%), from €1.6m to €888,180
- Depreciation -€158,831
down €158,831 (-27.8%), from €570,754 to €411,922
- Other operating charges -€130,485
down €130,485 (-98.8%), from €132,098 to €1,612
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
€22.0m
Turnover
-€706,200
Other operating income
-€125,051
Services and other goods
+€105,455
Staff costs
-€59,680
Depreciation
+€158,831
Provisions
+€125,000
Other operating charges
+€130,485
Other operating items
-€8.8m
Financial income
-€14.5m
Financial charges
+€430
Taxes
+€2.1m
Result 2025
€424,877
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.
From operations
-€14.4m
Investment
+€18.5m
Financing
-€4.0m
Cash 2024
€527,998
From operations (derived)
-€14.4m
Net result for the year
+€424,877
Depreciation
+€411,922
Receivables within one year
-€595,915
Smaller working-capital items
+€22,463
Trade debts
-€49,870
Other debts
-€14.6m
Investment (derived)
+€18.5m
Investment in fixed assets (net)
+€18.5m
Financing
-€4.0m
Contributions, distributions and other
-€4.0m
Cash 2025
€605,451
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,213,947 | €12,962,092 | -€18.3m | -58.5% |
| Fixed assets | 21/28 | €30,433,519 | €11,508,830 | -€18.9m | -62.2% |
| Tangible fixed assets | 22/27 | €1,203,615 | €927,715 | -€275,900 | -22.9% |
| Land and buildings | 22 | €100,478 | €100,478 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,071,786 | €680,363 | -€391,423 | -36.5% |
| Furniture and vehicles | 24 | €31,351 | €16,769 | -€14,582 | -46.5% |
| Assets under construction and advance payments | 27 | - | €130,106 | +€130,106 | |
| Financial fixed assets | 28 | €29,229,904 | €10,581,115 | -€18.6m | -63.8% |
| Affiliated companies | 280/1 | €29,229,904 | €10,581,115 | -€18.6m | -63.8% |
| Participating interests | 280 | €2,081,115 | €2,081,115 | = | 0.0% |
| Amounts receivable | 281 | €27,148,789 | €8,500,000 | -€18.6m | -68.7% |
| Current assets | 29/58 | €780,428 | €1,453,262 | +€672,834 | +86.2% |
| Amounts receivable within one year | 40/41 | €233,561 | €829,476 | +€595,915 | +255.1% |
| Trade receivables | 40 | - | €439,876 | +€439,876 | |
| Other amounts receivable | 41 | €233,561 | €389,600 | +€156,039 | +66.8% |
| Cash at bank and in hand | 54/58 | €527,998 | €605,451 | +€77,454 | +14.7% |
| Deferred charges and accrued income | 490/1 | €18,869 | €18,335 | -€534 | -2.8% |
| Total equity and liabilities | 10/49 | €31,213,947 | €12,962,092 | -€18.3m | -58.5% |
| Equity | 10/15 | €9,142,997 | €5,567,874 | -€3.6m | -39.1% |
| Contributions | 10/11 | €4,835,880 | €4,835,880 | = | 0.0% |
| Capital | 10 | €4,835,880 | €4,835,880 | = | 0.0% |
| Issued capital | 100 | €4,835,880 | €4,835,880 | = | 0.0% |
| Reserves | 13 | €4,307,117 | €731,994 | -€3.6m | -83.0% |
| Non-distributable reserves | 130/1 | €483,588 | €483,588 | = | 0.0% |
| Legal reserve | 130 | €483,588 | €483,588 | = | 0.0% |
| Distributable reserves | 133 | €3,823,529 | €248,406 | -€3.6m | -93.5% |
| Provisions and deferred taxes | 16 | €125,000 | €125,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €125,000 | €125,000 | = | 0.0% |
| Environmental obligations | 163 | €125,000 | €125,000 | = | 0.0% |
| Amounts payable | 17/49 | €21,945,950 | €7,269,218 | -€14.7m | -66.9% |
| Amounts payable after more than one year | 17 | €850,000 | €850,000 | = | 0.0% |
| Other amounts payable | 178/9 | €850,000 | €850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,093,255 | €6,416,443 | -€14.7m | -69.6% |
| Trade debts | 44 | €81,571 | €31,701 | -€49,870 | -61.1% |
| Suppliers | 440/4 | €81,571 | €31,701 | -€49,870 | -61.1% |
| Taxes, remuneration and social security | 45 | €41,684 | €63,531 | +€21,847 | +52.4% |
| Taxes | 450/3 | €8,513 | €11,327 | +€2,814 | +33.1% |
| Remuneration and social security | 454/9 | €33,171 | €52,205 | +€19,033 | +57.4% |
| Other amounts payable | 47/48 | €20,970,000 | €6,321,211 | -€14.6m | -69.9% |
| Accrued charges and deferred income | 492/3 | €2,694 | €2,775 | +€81 | +3.0% |
| Operating income | 70/76A | €10,587,664 | €926,389 | -€9.7m | -91.3% |
| Turnover | 70 | €1,594,380 | €888,180 | -€706,200 | -44.3% |
| Other operating income | 74 | €138,810 | €13,759 | -€125,051 | -90.1% |
| Non-recurring operating income | 76A | €8,854,473 | €24,450 | -€8.8m | -99.7% |
| Operating charges | 60/66A | €1,711,377 | €1,251,285 | -€460,092 | -26.9% |
| Services and other goods | 61 | €580,337 | €474,882 | -€105,455 | -18.2% |
| Remuneration, social security and pensions | 62 | €303,188 | €362,868 | +€59,680 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570,754 | €411,922 | -€158,831 | -27.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €125,000 | - | -€125,000 | |
| Other operating charges | 640/8 | €132,098 | €1,612 | -€130,485 | -98.8% |
| Operating profit (loss) | 9901 | €8,876,287 | -€324,895 | -€9.2m | |
| Financial income | 75/76B | €15,372,049 | €895,098 | -€14.5m | -94.2% |
| Recurring financial income | 75 | €15,372,049 | €895,098 | -€14.5m | -94.2% |
| Income from financial fixed assets | 750 | €15,149,000 | - | -€15.1m | |
| Income from current assets | 751 | €222,928 | €894,912 | +€671,984 | +301.4% |
| Other financial income | 752/9 | €121 | €186 | +€65 | +53.2% |
| Financial charges | 65/66B | €2,693 | €2,263 | -€430 | -16.0% |
| Recurring financial charges | 65 | €2,693 | €2,263 | -€430 | -16.0% |
| Other financial charges | 652/9 | €2,693 | €2,263 | -€430 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €24,245,643 | €567,940 | -€23.7m | -97.7% |
| Income taxes | 67/77 | €2,276,036 | €143,063 | -€2.1m | -93.7% |
| Taxes | 670/3 | €2,276,036 | €143,063 | -€2.1m | -93.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | €21,969,607 | €424,877 | -€21.5m | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,969,607 | €424,877 | -€21.5m | -98.1% |
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 10 October 2026 via checked.be.