KEMPEN PROPERTIES: 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.
KEMPEN PROPERTIES
Largest movements
- Tangible fixed assets +€816,505
up €816,505 (+2,569%), from €31,789 to €848,294
of which Land and buildings: +€832,073
- Receivables within one year -€125,733
down €125,733 (-48.3%), from €260,552 to €134,819
of which Trade receivables: -€125,733
- Cash -€64,987
down €64,987 (-72.5%), from €89,613 to €24,626
mainly Investment in fixed assets (net) (-€904,504) and Trade debts (-€150,307)
- Deferred charges and accrued income -€14,928
down €14,928 (-92.6%), from €16,113 to €1,185
- Profit (loss) carried forward +€842,199
up €842,199 (+2,372%), from €35,504 to €877,703
- Trade debts -€150,307
down €150,307 (-92.9%), from €161,826 to €11,518
- Tax, wage and social debts -€143,441
down €143,441 (-87.8%), from €163,333 to €19,892
of which Remuneration and social security: -€115,542
- Reserves +€45,460
new in 2025: €45,460
of which Tax-exempt reserves: +€42,944
- Contributions +€24,032
up €24,032 (+11,573%), from €208 to €24,240
- Staff costs -€626,621
down €626,621 (-99.7%), from €628,195 to €1,573
- Gross operating margin -€547,237
down €547,237 (-83.3%), from €657,195 to €109,958
- Depreciation +€72,430
up €72,430 (+465%), from €15,568 to €87,999
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 | €398,067 | €1,008,924 | +€610,857 | +153% |
| Fixed assets | 21/28 | €31,789 | €848,294 | +€816,505 | +2,569% |
| Tangible fixed assets | 22/27 | €31,789 | €848,294 | +€816,505 | +2,569% |
| Land and buildings | 22 | - | €832,073 | +€832,073 | |
| Leasing and similar rights | 25 | €31,789 | €16,221 | -€15,568 | -49.0% |
| Current assets | 29/58 | €366,278 | €160,630 | -€205,648 | -56.1% |
| Amounts receivable within one year | 40/41 | €260,552 | €134,819 | -€125,733 | -48.3% |
| Trade receivables | 40 | €260,552 | €134,819 | -€125,733 | -48.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €89,613 | €24,626 | -€64,987 | -72.5% |
| Deferred charges and accrued income | 490/1 | €16,113 | €1,185 | -€14,928 | -92.6% |
| Total equity and liabilities | 10/49 | €398,067 | €1,008,924 | +€610,857 | +153% |
| Equity | 10/15 | €35,711 | €947,403 | +€911,692 | +2,553% |
| Contributions | 10/11 | €208 | €24,240 | +€24,032 | +11,573% |
| Reserves | 13 | - | €45,460 | +€45,460 | |
| Tax-exempt reserves | 132 | - | €42,944 | +€42,944 | |
| Distributable reserves | 133 | - | €2,516 | +€2,516 | |
| Profit (loss) carried forward | 14 | €35,504 | €877,703 | +€842,199 | +2,372% |
| Amounts payable | 17/49 | €362,356 | €61,521 | -€300,835 | -83.0% |
| Amounts payable after more than one year | 17 | €18,317 | €9,411 | -€8,906 | -48.6% |
| Financial debts | 170/4 | €18,317 | €9,411 | -€8,906 | -48.6% |
| Amounts payable within one year | 42/48 | €344,039 | €52,110 | -€291,929 | -84.9% |
| Current portion of amounts payable after more than one year | 42 | €15,131 | €8,906 | -€6,225 | -41.1% |
| Trade debts | 44 | €161,826 | €11,518 | -€150,307 | -92.9% |
| Suppliers | 440/4 | €161,826 | €11,518 | -€150,307 | -92.9% |
| Taxes, remuneration and social security | 45 | €163,333 | €19,892 | -€143,441 | -87.8% |
| Taxes | 450/3 | €47,791 | €19,892 | -€27,899 | -58.4% |
| Remuneration and social security | 454/9 | €115,542 | €0 | -€115,542 | -100% |
| Other amounts payable | 47/48 | €3,750 | €11,794 | +€8,044 | +215% |
| Remuneration, social security and pensions | 62 | €628,195 | €1,573 | -€626,621 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,568 | €87,999 | +€72,430 | +465% |
| Other operating charges | 640/8 | €3,053 | €1,066 | -€1,987 | -65.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €657,195 | €109,958 | -€547,237 | -83.3% |
| Operating profit (loss) | 9901 | €10,380 | €19,320 | +€8,941 | +86.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,206 | €7,488 | +€5,282 | +239% |
| Recurring financial charges | 65 | €2,206 | €7,488 | +€5,282 | +239% |
| Profit (loss) for the period before taxes | 9903 | €8,173 | €11,832 | +€3,659 | +44.8% |
| Income taxes | 67/77 | €8,342 | €4,644 | -€3,698 | -44.3% |
| Profit (loss) for the period | 9904 | -€169 | €7,188 | +€7,357 | |
| Profit (loss) for the period to be appropriated | 9905 | -€169 | €7,188 | +€7,357 |
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 26 October 2026 via checked.be.