KERKSTOEL 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.
What changed
KERKSTOEL IMMO
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
€25,887
2024 · €67,357-€41,470
Equity
€3.0m
2024 · €3.0m+€25,887
Cash
€14,312
2024 · €35,353-€21,040
Balance sheet total
€4.6m
2024 · €4.6m-€4,319
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Trade debts -€66,364
down €66,364 (-41.1%), from €161,565 to €95,200
Income statement
- Staff costs +€86,457
up €86,457 (+61.9%), from €139,646 to €226,102
- Provisions -€80,000
no longer reported in 2025 (was €80,000)
- Gross operating margin -€48,661
down €48,661 (-14.1%), from €345,747 to €297,086
- Taxes -€14,763
down €14,763 (-25.2%), from €58,482 to €43,719
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
€67,357
Gross operating margin
-€48,661
Staff costs
-€86,457
Provisions
+€80,000
Other operating charges
-€925
Financial income
-€6
Financial charges
-€185
Taxes
+€14,763
Result 2025
€25,887
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
-€56,040
Investment
€0
Financing
+€35,000
Cash 2024
€35,353
From operations (derived)
-€56,040
Net result for the year
+€25,887
Stocks and contracts
-€16,722
Trade debts
-€66,364
Tax, wage and social debts
+€22,672
Other debts
-€21,514
Financing
+€35,000
Debts after one year
+€35,000
Cash 2025
€14,312
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,578,598 | €4,574,279 | -€4,319 | -0.1% |
| Fixed assets | 21/28 | €4,473,557 | €4,473,557 | = | 0.0% |
| Tangible fixed assets | 22/27 | €578,230 | €578,230 | = | 0.0% |
| Land and buildings | 22 | €578,230 | €578,230 | = | 0.0% |
| Financial fixed assets | 28 | €3,895,327 | €3,895,327 | = | 0.0% |
| Current assets | 29/58 | €105,041 | €100,722 | -€4,319 | -4.1% |
| Stocks and contracts in progress | 3 | €69,688 | €86,410 | +€16,722 | +24.0% |
| Stocks | 30/36 | €69,688 | €86,410 | +€16,722 | +24.0% |
| Cash at bank and in hand | 54/58 | €35,353 | €14,312 | -€21,040 | -59.5% |
| Total equity and liabilities | 10/49 | €4,578,598 | €4,574,279 | -€4,319 | -0.1% |
| Equity | 10/15 | €3,002,865 | €3,028,752 | +€25,887 | +0.9% |
| Contributions | 10/11 | €2,345,212 | €2,345,212 | = | 0.0% |
| Capital | 10 | €2,345,212 | €2,345,212 | = | 0.0% |
| Issued capital | 100 | €2,345,212 | €2,345,212 | = | 0.0% |
| Reserves | 13 | €657,653 | €683,540 | +€25,887 | +3.9% |
| Non-distributable reserves | 130/1 | €87,795 | €89,090 | +€1,294 | +1.5% |
| Legal reserve | 130 | €87,795 | €89,090 | +€1,294 | +1.5% |
| Distributable reserves | 133 | €569,858 | €594,450 | +€24,593 | +4.3% |
| Provisions and deferred taxes | 16 | €120,000 | €120,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €120,000 | €120,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,455,733 | €1,425,527 | -€30,206 | -2.1% |
| Amounts payable after more than one year | 17 | €20,000 | €55,000 | +€35,000 | +175% |
| Other amounts payable | 178/9 | €20,000 | €55,000 | +€35,000 | +175% |
| Amounts payable within one year | 42/48 | €1,435,733 | €1,370,527 | -€65,206 | -4.5% |
| Trade debts | 44 | €161,565 | €95,200 | -€66,364 | -41.1% |
| Suppliers | 440/4 | €161,565 | €95,200 | -€66,364 | -41.1% |
| Taxes, remuneration and social security | 45 | €48,263 | €70,935 | +€22,672 | +47.0% |
| Taxes | 450/3 | €48,263 | €45,782 | -€2,480 | -5.1% |
| Remuneration and social security | 454/9 | - | €25,153 | +€25,153 | |
| Other amounts payable | 47/48 | €1,225,906 | €1,204,392 | -€21,514 | -1.8% |
| Remuneration, social security and pensions | 62 | €139,646 | €226,102 | +€86,457 | +61.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €80,000 | - | -€80,000 | |
| Other operating charges | 640/8 | €118 | €1,043 | +€925 | +783% |
| Gross operating margin | 9900 | €345,747 | €297,086 | -€48,661 | -14.1% |
| Operating profit (loss) | 9901 | €125,983 | €69,941 | -€56,042 | -44.5% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €150 | €335 | +€185 | +123% |
| Recurring financial charges | 65 | €150 | €335 | +€185 | +123% |
| Profit (loss) for the period before taxes | 9903 | €125,840 | €69,606 | -€56,233 | -44.7% |
| Income taxes | 67/77 | €58,482 | €43,719 | -€14,763 | -25.2% |
| Profit (loss) for the period | 9904 | €67,357 | €25,887 | -€41,470 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,357 | €25,887 | -€41,470 | -61.6% |
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 30 October 2026 via checked.be.