KF-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.
KF-IMMO
Largest movements
- Receivables within one year -€29,530
down €29,530 (-15.3%), from €192,605 to €163,075
of which Trade receivables: -€15,644
- Tangible fixed assets -€4,191
down €4,191 (-22.7%), from €18,494 to €14,303
of which Furniture and vehicles: -€5,359
- Cash -€3,382
down €3,382 (-90.6%), from €3,733 to €351
mainly Net result for the year (-€47,613) and Tax, wage and social debts (-€7,782)
- Profit (loss) carried forward -€47,613
down €47,613 (-60.7%), from -€78,480 to -€126,093
- Other debts +€18,379
up €18,379 (+12.7%), from €145,060 to €163,439
- Tax, wage and social debts -€7,782
down €7,782 (-97.3%), from €7,994 to €212
- Trade debts +€5,086
up €5,086 (+5.6%), from €90,675 to €95,762
- Debts after one year -€4,265
down €4,265 (-100%), from €4,265 to €0
- Gross operating margin -€19,343
down €19,343 (-117%), from -€16,493 to -€35,836
- Depreciation +€6,210
up €6,210 (+291%), from €2,135 to €8,345
- Financial charges +€1,378
up €1,378 (+121%), from €1,138 to €2,516
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 | €214,906 | €178,045 | -€36,861 | -17.2% |
| Fixed assets | 21/28 | €18,494 | €14,303 | -€4,191 | -22.7% |
| Tangible fixed assets | 22/27 | €18,494 | €14,303 | -€4,191 | -22.7% |
| Land and buildings | 22 | €1,289 | €234 | -€1,055 | -81.8% |
| Plant, machinery and equipment | 23 | €1,292 | €3,514 | +€2,222 | +172% |
| Furniture and vehicles | 24 | €15,914 | €10,555 | -€5,359 | -33.7% |
| Current assets | 29/58 | €196,412 | €163,741 | -€32,670 | -16.6% |
| Amounts receivable within one year | 40/41 | €192,605 | €163,075 | -€29,530 | -15.3% |
| Trade receivables | 40 | €173,957 | €158,312 | -€15,644 | -9.0% |
| Other amounts receivable | 41 | €18,648 | €4,762 | -€13,886 | -74.5% |
| Cash at bank and in hand | 54/58 | €3,733 | €351 | -€3,382 | -90.6% |
| Deferred charges and accrued income | 490/1 | €74 | €316 | +€242 | +328% |
| Total equity and liabilities | 10/49 | €214,906 | €178,045 | -€36,861 | -17.2% |
| Equity | 10/15 | -€38,020 | -€85,633 | -€47,613 | -125% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,860 | €21,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,480 | -€126,093 | -€47,613 | -60.7% |
| Amounts payable | 17/49 | €252,926 | €263,678 | +€10,751 | +4.3% |
| Amounts payable after more than one year | 17 | €4,265 | €0 | -€4,265 | -100% |
| Financial debts | 170/4 | €4,265 | €0 | -€4,265 | -100% |
| Amounts payable within one year | 42/48 | €248,661 | €263,678 | +€15,016 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €4,932 | €4,265 | -€667 | -13.5% |
| Trade debts | 44 | €90,675 | €95,762 | +€5,086 | +5.6% |
| Suppliers | 440/4 | €90,675 | €95,762 | +€5,086 | +5.6% |
| Taxes, remuneration and social security | 45 | €7,994 | €212 | -€7,782 | -97.3% |
| Taxes | 450/3 | €7,994 | €212 | -€7,782 | -97.3% |
| Other amounts payable | 47/48 | €145,060 | €163,439 | +€18,379 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,135 | €8,345 | +€6,210 | +291% |
| Other operating charges | 640/8 | €1,120 | €916 | -€204 | -18.2% |
| Non-recurring operating charges | 66A | €14,944 | - | -€14,944 | |
| Gross operating margin | 9900 | -€16,493 | -€35,836 | -€19,343 | -117% |
| Operating profit (loss) | 9901 | -€34,692 | -€45,097 | -€10,405 | -30.0% |
| Financial income | 75/76B | €126 | €1 | -€126 | -99.6% |
| Recurring financial income | 75 | €126 | €1 | -€126 | -99.6% |
| Financial charges | 65/66B | €1,138 | €2,516 | +€1,378 | +121% |
| Recurring financial charges | 65 | €1,138 | €2,516 | +€1,378 | +121% |
| Profit (loss) for the period before taxes | 9903 | -€35,704 | -€47,613 | -€11,909 | -33.4% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | -€35,705 | -€47,613 | -€11,908 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,705 | -€47,613 | -€11,908 | -33.4% |
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 14 October 2026 via checked.be.