KORTRIJK BUILDING PROJECTS: what changed
What changed
KORTRIJK BUILDING PROJECTS
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€53,052
2024 · €236,753-€183,700
Equity
€2.5m
2024 · €2.4m+€53,052
Cash
€66,154
2024 · €25,917+€40,238
Balance sheet total
€2.7m
2024 · €2.7m+€25,730
Largest movements
Assets
- Current investments +€650,000
up €650,000 (+186%), from €350,000 to €1.0m
- Receivables within one year -€596,688
down €596,688 (-33.1%), from €1.8m to €1.2m
of which Other amounts receivable: -€596,688
- Stocks and contracts -€59,239
down €59,239 (-37.4%), from €158,449 to €99,210
- Cash +€40,238
up €40,238 (+155%), from €25,917 to €66,154
mainly Receivables within one year (+€596,688) and Stocks and contracts (+€59,239)
Equity and liabilities
- Reserves +€53,052
up €53,052 (+4.5%), from €1.2m to €1.2m
of which Distributable reserves: +€32,002
Income statement
- Gross operating margin -€173,353
down €173,353 (-73.9%), from €234,484 to €61,132
- Provisions +€65,122
up €65,122, from -€65,122 to €0
- Taxes -€51,900
down €51,900 (-74.8%), from €69,346 to €17,446
- Other operating charges -€3,795
down €3,795 (-37.8%), from €10,040 to €6,245
Change in the result, 2024 to 2025
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 2024
€236,753
Gross operating margin
-€173,353
Provisions
-€65,122
Other operating charges
+€3,795
Financial income
-€1,046
Financial charges
+€126
Taxes
+€51,900
Result 2025
€53,052
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€690,238
Investment
-€650,000
Financing
€0
Cash 2024
€25,917
From operations (derived)
+€690,238
Net result for the year
+€53,052
Depreciation
+€9,640
Stocks and contracts
+€59,239
Receivables within one year
+€596,688
Smaller working-capital items
+€238
Tax, wage and social debts
-€3,622
Other debts
-€24,998
Investment (derived)
-€650,000
Current investments
-€650,000
Cash 2025
€66,154
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,654,555 | €2,680,286 | +€25,730 | +1.0% |
| Fixed assets | 21/28 | €320,156 | €310,515 | -€9,640 | -3.0% |
| Tangible fixed assets | 22/27 | €289,448 | €279,807 | -€9,640 | -3.3% |
| Land and buildings | 22 | €289,448 | €279,807 | -€9,640 | -3.3% |
| Financial fixed assets | 28 | €30,708 | €30,708 | = | 0.0% |
| Current assets | 29/58 | €2,334,400 | €2,369,770 | +€35,371 | +1.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €158,449 | €99,210 | -€59,239 | -37.4% |
| Stocks | 30/36 | €158,449 | €99,210 | -€59,239 | -37.4% |
| Amounts receivable within one year | 40/41 | €1,800,034 | €1,203,347 | -€596,688 | -33.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,800,034 | €1,203,347 | -€596,688 | -33.1% |
| Current investments | 50/53 | €350,000 | €1,000,000 | +€650,000 | +186% |
| Cash at bank and in hand | 54/58 | €25,917 | €66,154 | +€40,238 | +155% |
| Deferred charges and accrued income | 490/1 | €0 | €1,060 | +€1,060 | |
| Total equity and liabilities | 10/49 | €2,654,555 | €2,680,286 | +€25,730 | +1.0% |
| Equity | 10/15 | €2,429,437 | €2,482,489 | +€53,052 | +2.2% |
| Contributions | 10/11 | €1,255,000 | €1,255,000 | = | 0.0% |
| Capital | 10 | €1,255,000 | €1,255,000 | = | 0.0% |
| Issued capital | 100 | €1,255,000 | €1,255,000 | = | 0.0% |
| Reserves | 13 | €1,174,437 | €1,227,489 | +€53,052 | +4.5% |
| Non-distributable reserves | 130/1 | €125,500 | €125,500 | = | 0.0% |
| Legal reserve | 130 | €125,500 | €125,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,620 | €113,670 | +€21,050 | +22.7% |
| Distributable reserves | 133 | €956,317 | €988,319 | +€32,002 | +3.3% |
| Provisions and deferred taxes | 16 | €10,493 | €10,493 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,493 | €10,493 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,493 | €10,493 | = | 0.0% |
| Amounts payable | 17/49 | €214,626 | €187,304 | -€27,322 | -12.7% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,626 | €27,304 | -€27,322 | -50.0% |
| Trade debts | 44 | €1,580 | €2,878 | +€1,298 | +82.1% |
| Suppliers | 440/4 | €1,580 | €2,878 | +€1,298 | +82.1% |
| Taxes, remuneration and social security | 45 | €6,022 | €2,400 | -€3,622 | -60.1% |
| Taxes | 450/3 | €6,022 | €2,400 | -€3,622 | -60.1% |
| Other amounts payable | 47/48 | €47,024 | €22,026 | -€24,998 | -53.2% |
| Non-recurring operating income | 76A | €8,827 | €0 | -€8,827 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,640 | €9,640 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€65,122 | €0 | +€65,122 | |
| Other operating charges | 640/8 | €10,040 | €6,245 | -€3,795 | -37.8% |
| Gross operating margin | 9900 | €234,484 | €61,132 | -€173,353 | -73.9% |
| Operating profit (loss) | 9901 | €279,926 | €45,246 | -€234,680 | -83.8% |
| Financial income | 75/76B | €35,942 | €34,896 | -€1,046 | -2.9% |
| Recurring financial income | 75 | €35,942 | €34,896 | -€1,046 | -2.9% |
| Financial charges | 65/66B | €9,769 | €9,643 | -€126 | -1.3% |
| Recurring financial charges | 65 | €9,769 | €9,643 | -€126 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €306,099 | €70,498 | -€235,600 | -77.0% |
| Income taxes | 67/77 | €69,346 | €17,446 | -€51,900 | -74.8% |
| Profit (loss) for the period | 9904 | €236,753 | €53,052 | -€183,700 | -77.6% |
| Transfer to tax-exempt reserves | 689 | €92,620 | €21,050 | -€71,570 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €144,133 | €32,002 | -€112,130 | -77.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.