KO 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.
KO IMMO
Largest movements
- Receivables within one year -€9.8m
down €9.8m (-97.2%), from €10.1m to €279,909
of which Other amounts receivable: -€9.9m
- Receivables after one year +€8.8m
new in 2025: €8.8m
- Cash -€684,800
down €684,800 (-65.6%), from €1.0m to €358,633
mainly Other debts (-€17.1m) and Receivables after one year (-€8.8m)
- Financial fixed assets -€472,118
down €472,118 (-3.7%), from €12.8m to €12.3m
- Other debts -€17.1m
down €17.1m (-98.8%), from €17.3m to €209,437
- Debts after one year +€15.4m
new in 2025: €15.4m
of which Other amounts payable: +€14.0m
- Profit (loss) carried forward -€679,329
down €679,329 (-61.5%), from -€1.1m to -€1.8m
- Gross operating margin +€253,969
up €253,969 (+60.6%), from -€418,829 to -€164,860
- Financial charges +€132,810
up €132,810 (+26.2%), from €506,215 to €639,025
- Depreciation +€60,242
up €60,242 (+1,839%), from €3,276 to €63,518
- Financial income +€54,284
up €54,284 (+40.1%), from €135,505 to €189,789
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 | €24,013,072 | €21,755,550 | -€2.3m | -9.4% |
| Fixed assets | 21/28 | €12,871,822 | €12,336,186 | -€535,636 | -4.2% |
| Tangible fixed assets | 22/27 | €92,518 | €29,000 | -€63,518 | -68.7% |
| Land and buildings | 22 | €92,518 | €29,000 | -€63,518 | -68.7% |
| Financial fixed assets | 28 | €12,779,304 | €12,307,186 | -€472,118 | -3.7% |
| Current assets | 29/58 | €11,141,250 | €9,419,365 | -€1.7m | -15.5% |
| Amounts receivable after more than one year | 29 | - | €8,780,823 | +€8.8m | |
| Trade receivables | 290 | - | €8,780,823 | +€8.8m | |
| Amounts receivable within one year | 40/41 | €10,097,818 | €279,909 | -€9.8m | -97.2% |
| Trade receivables | 40 | - | €126,238 | +€126,238 | |
| Other amounts receivable | 41 | €10,097,818 | €153,671 | -€9.9m | -98.5% |
| Cash at bank and in hand | 54/58 | €1,043,432 | €358,633 | -€684,800 | -65.6% |
| Total equity and liabilities | 10/49 | €24,013,072 | €21,755,550 | -€2.3m | -9.4% |
| Equity | 10/15 | €6,691,887 | €6,012,558 | -€679,329 | -10.2% |
| Contributions | 10/11 | €7,796,047 | €7,796,047 | = | 0.0% |
| Capital | 10 | €7,796,047 | €7,796,047 | = | 0.0% |
| Issued capital | 100 | €7,796,047 | €7,796,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,104,160 | -€1,783,490 | -€679,329 | -61.5% |
| Amounts payable | 17/49 | €17,321,185 | €15,742,993 | -€1.6m | -9.1% |
| Amounts payable after more than one year | 17 | - | €15,379,871 | +€15.4m | |
| Financial debts | 170/4 | - | €1,376,673 | +€1.4m | |
| Other amounts payable | 178/9 | - | €14,003,198 | +€14.0m | |
| Amounts payable within one year | 42/48 | €17,321,185 | €359,292 | -€17.0m | -97.9% |
| Current portion of amounts payable after more than one year | 42 | - | €105,971 | +€105,971 | |
| Trade debts | 44 | €32,023 | €43,883 | +€11,860 | +37.0% |
| Suppliers | 440/4 | €32,023 | €43,883 | +€11,860 | +37.0% |
| Other amounts payable | 47/48 | €17,289,162 | €209,437 | -€17.1m | -98.8% |
| Accrued charges and deferred income | 492/3 | - | €3,830 | +€3,830 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,276 | €63,518 | +€60,242 | +1,839% |
| Other operating charges | 640/8 | €2,658 | €1,716 | -€942 | -35.4% |
| Gross operating margin | 9900 | -€418,829 | -€164,860 | +€253,969 | +60.6% |
| Operating profit (loss) | 9901 | -€424,763 | -€230,094 | +€194,669 | +45.8% |
| Financial income | 75/76B | €135,505 | €189,789 | +€54,284 | +40.1% |
| Recurring financial income | 75 | €135,505 | €189,789 | +€54,284 | +40.1% |
| Financial charges | 65/66B | €506,215 | €639,025 | +€132,810 | +26.2% |
| Recurring financial charges | 65 | €506,215 | €639,025 | +€132,810 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | -€795,472 | -€679,329 | +€116,143 | +14.6% |
| Profit (loss) for the period | 9904 | -€795,472 | -€679,329 | +€116,143 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€795,472 | -€679,329 | +€116,143 | +14.6% |
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 24 October 2026 via checked.be.