KNIGHT FRANK: what changed
What changed
KNIGHT FRANK
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€71,012
2025 · €26,789+€44,223
Equity
€1.6m
2025 · €1.6m+€71,012
Cash
€1.2m
2025 · €1.4m-€258,249
Balance sheet total
€2.6m
2025 · €2.6m-€51,720
Largest movements
Assets
- Cash -€258,249
down €258,249 (-18.2%), from €1.4m to €1.2m
mainly Receivables within one year (-€216,365) and Other debts (-€78,523)
- Receivables within one year +€216,365
up €216,365 (+20.3%), from €1.1m to €1.3m
of which Trade receivables: +€200,275
Equity and liabilities
- Other debts -€78,523
down €78,523 (-45.0%), from €174,665 to €96,142
- Tax, wage and social debts -€52,307
down €52,307 (-15.5%), from €336,752 to €284,444
of which Remuneration and social security: -€43,894
- Reserves +€48,653
up €48,653 (+58.6%), from €83,070 to €131,723
of which Non-distributable reserves: +€48,653
Income statement
- Gross operating margin +€103,153
up €103,153 (+12.0%), from €857,154 to €960,308
- Taxes +€34,306
up €34,306 (+2,002%), from €1,714 to €36,019
- Staff costs +€14,008
up €14,008 (+1.8%), from €775,260 to €789,267
- Financial charges +€10,866
up €10,866 (+84.6%), from €12,851 to €23,717
of which Financial charges: +€10,866
Change in the result, 2025 to 2026
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 2025
€26,789
Gross operating margin
+€103,153
Staff costs
-€14,008
Depreciation
-€1,767
Other operating charges
+€274
Financial income
+€1,742
Financial charges
-€10,866
Taxes
-€34,306
Result 2026
€71,012
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€250,014
Investment
-€9,439
Financing
+€1,204
Cash 2025
€1.4m
From operations (derived)
-€250,014
Net result for the year
+€71,012
Depreciation
+€10,416
Receivables within one year
-€216,365
Deferred charges and accrued income
+€8,859
Trade debts
+€6,894
Tax, wage and social debts
-€52,307
Other debts
-€78,523
Investment (derived)
-€9,439
Investment in fixed assets (net)
-€9,439
Financing
+€1,204
Short-term financial debts
+€1,204
Cash 2026
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,609,637 | €2,557,917 | -€51,720 | -2.0% |
| Fixed assets | 21/28 | €87,273 | €86,296 | -€977 | -1.1% |
| Intangible fixed assets | 21 | €1,459 | €4,590 | +€3,132 | +215% |
| Tangible fixed assets | 22/27 | €32,773 | €28,664 | -€4,109 | -12.5% |
| Furniture and vehicles | 24 | €19,530 | €17,062 | -€2,468 | -12.6% |
| Other tangible fixed assets | 26 | €13,243 | €11,602 | -€1,641 | -12.4% |
| Financial fixed assets | 28 | €53,042 | €53,042 | = | 0.0% |
| Current assets | 29/58 | €2,522,364 | €2,471,621 | -€50,743 | -2.0% |
| Amounts receivable within one year | 40/41 | €1,065,789 | €1,282,154 | +€216,365 | +20.3% |
| Trade receivables | 40 | €1,064,479 | €1,264,754 | +€200,275 | +18.8% |
| Other amounts receivable | 41 | €1,310 | €17,400 | +€16,090 | +1,228% |
| Cash at bank and in hand | 54/58 | €1,417,581 | €1,159,332 | -€258,249 | -18.2% |
| Deferred charges and accrued income | 490/1 | €38,994 | €30,135 | -€8,859 | -22.7% |
| Total equity and liabilities | 10/49 | €2,609,637 | €2,557,917 | -€51,720 | -2.0% |
| Equity | 10/15 | €1,560,244 | €1,631,257 | +€71,012 | +4.6% |
| Contributions | 10/11 | €1,111,970 | €1,111,970 | = | 0.0% |
| Capital | 10 | €1,111,970 | €1,111,970 | = | 0.0% |
| Issued capital | 100 | €1,111,970 | €1,111,970 | = | 0.0% |
| Reserves | 13 | €83,070 | €131,723 | +€48,653 | +58.6% |
| Non-distributable reserves | 130/1 | €62,544 | €111,197 | +€48,653 | +77.8% |
| Legal reserve | 130 | €62,544 | €111,197 | +€48,653 | +77.8% |
| Distributable reserves | 133 | €20,526 | €20,526 | = | 0.0% |
| Profit (loss) carried forward | 14 | €365,204 | €387,564 | +€22,359 | +6.1% |
| Amounts payable | 17/49 | €1,049,393 | €926,660 | -€122,732 | -11.7% |
| Amounts payable within one year | 42/48 | €1,049,393 | €926,660 | -€122,732 | -11.7% |
| Financial debts | 43 | €1,761 | €2,966 | +€1,204 | +68.4% |
| Credit institutions | 430/8 | €1,761 | €0 | -€1,761 | -100% |
| Other loans | 439 | - | €2,966 | +€2,966 | |
| Trade debts | 44 | €536,215 | €543,109 | +€6,894 | +1.3% |
| Suppliers | 440/4 | €536,215 | €543,109 | +€6,894 | +1.3% |
| Taxes, remuneration and social security | 45 | €336,752 | €284,444 | -€52,307 | -15.5% |
| Taxes | 450/3 | €95,634 | €87,221 | -€8,413 | -8.8% |
| Remuneration and social security | 454/9 | €241,118 | €197,224 | -€43,894 | -18.2% |
| Other amounts payable | 47/48 | €174,665 | €96,142 | -€78,523 | -45.0% |
| Non-recurring operating income | 76A | €300 | €0 | -€300 | -100% |
| Remuneration, social security and pensions | 62 | €775,260 | €789,267 | +€14,008 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,649 | €10,416 | +€1,767 | +20.4% |
| Other operating charges | 640/8 | €32,354 | €32,080 | -€274 | -0.8% |
| Gross operating margin | 9900 | €857,154 | €960,308 | +€103,153 | +12.0% |
| Operating profit (loss) | 9901 | €40,892 | €128,544 | +€87,653 | +214% |
| Financial income | 75/76B | €462 | €2,204 | +€1,742 | +377% |
| Recurring financial income | 75 | €462 | €2,204 | +€1,742 | +377% |
| Financial charges | 65/66B | €12,851 | €23,717 | +€10,866 | +84.6% |
| Recurring financial charges | 65 | €12,851 | €23,717 | +€10,866 | +84.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €28,503 | €107,031 | +€78,529 | +276% |
| Income taxes | 67/77 | €1,714 | €36,019 | +€34,306 | +2,002% |
| Profit (loss) for the period | 9904 | €26,789 | €71,012 | +€44,223 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €26,789 | €71,012 | +€44,223 | +165% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.