KTS 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
KTS IMMO
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€153,672
2024 · €78,005+€75,666
Equity
€3.1m
2024 · €2.9m+€153,672
Cash
€111,639
2024 · €149,712-€38,072
Balance sheet total
€7.3m
2024 · €7.4m-€107,414
Largest movements
Assets
- Tangible fixed assets -€134,053
down €134,053 (-2.1%), from €6.5m to €6.4m
of which Land and buildings: -€130,715
Equity and liabilities
- Debts after one year -€176,976
down €176,976 (-12.7%), from €1.4m to €1.2m
- Reserves +€153,672
up €153,672 (+6.9%), from €2.2m to €2.4m
of which Distributable reserves: +€160,539
- Other debts -€95,000
down €95,000 (-3.4%), from €2.8m to €2.7m
Income statement
- Gross operating margin +€80,809
up €80,809 (+17.6%), from €458,973 to €539,782
- Depreciation -€58,858
down €58,858 (-23.6%), from €249,715 to €190,856
- Taxes +€25,880
up €25,880 (+91.5%), from €28,291 to €54,171
- Financial charges +€21,179
up €21,179 (+89.8%), from €23,583 to €44,762
- Write-downs +€12,000
new in 2025: €12,000
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
€78,005
Gross operating margin
+€80,809
Depreciation
+€58,858
Write-downs
-€12,000
Other operating charges
-€4,942
Financial income
+€0
Financial charges
-€21,179
Taxes
-€25,880
Result 2025
€153,672
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
+€191,812
Investment
-€56,803
Financing
-€173,081
Cash 2024
€149,712
From operations (derived)
+€191,812
Net result for the year
+€153,672
Depreciation
+€190,856
Receivables within one year
-€22,256
Deferred charges and accrued income
-€42,455
Provisions
-€2,289
Trade debts
+€65,570
Tax, wage and social debts
+€8,606
Other debts
-€95,000
Accrued charges and deferred income
-€64,892
Investment (derived)
-€56,803
Investment in fixed assets (net)
-€56,803
Financing
-€173,081
Debts after one year
-€176,976
Current portion of long-term debt
+€3,896
Cash 2025
€111,639
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,428,629 | €7,321,215 | -€107,414 | -1.4% |
| Fixed assets | 21/28 | €6,492,729 | €6,358,676 | -€134,053 | -2.1% |
| Tangible fixed assets | 22/27 | €6,491,859 | €6,357,806 | -€134,053 | -2.1% |
| Land and buildings | 22 | €3,609,267 | €3,478,552 | -€130,715 | -3.6% |
| Furniture and vehicles | 24 | €15,276 | €11,938 | -€3,338 | -21.9% |
| Other tangible fixed assets | 26 | €2,706,816 | €2,706,816 | = | 0.0% |
| Assets under construction and advance payments | 27 | €160,500 | €160,500 | = | 0.0% |
| Financial fixed assets | 28 | €870 | €870 | = | 0.0% |
| Current assets | 29/58 | €935,900 | €962,539 | +€26,639 | +2.8% |
| Amounts receivable within one year | 40/41 | €170,189 | €192,445 | +€22,256 | +13.1% |
| Trade receivables | 40 | €158,480 | €180,736 | +€22,256 | +14.0% |
| Other amounts receivable | 41 | €11,709 | €11,709 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €149,712 | €111,639 | -€38,072 | -25.4% |
| Deferred charges and accrued income | 490/1 | €615,999 | €658,455 | +€42,455 | +6.9% |
| Total equity and liabilities | 10/49 | €7,428,629 | €7,321,215 | -€107,414 | -1.4% |
| Equity | 10/15 | €2,913,100 | €3,066,771 | +€153,672 | +5.3% |
| Contributions | 10/11 | €696,690 | €696,690 | = | 0.0% |
| Capital | 10 | €696,690 | €696,690 | = | 0.0% |
| Issued capital | 100 | €696,690 | €696,690 | = | 0.0% |
| Reserves | 13 | €2,216,410 | €2,370,082 | +€153,672 | +6.9% |
| Non-distributable reserves | 130/1 | €69,675 | €69,675 | = | 0.0% |
| Legal reserve | 130 | €69,669 | €69,669 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6 | €6 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,312,579 | €1,305,711 | -€6,867 | -0.5% |
| Distributable reserves | 133 | €834,157 | €994,696 | +€160,539 | +19.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €27,469 | €25,180 | -€2,289 | -8.3% |
| Deferred taxes | 168 | €27,469 | €25,180 | -€2,289 | -8.3% |
| Amounts payable | 17/49 | €4,488,060 | €4,229,263 | -€258,796 | -5.8% |
| Amounts payable after more than one year | 17 | €1,392,938 | €1,215,962 | -€176,976 | -12.7% |
| Financial debts | 170/4 | €1,392,938 | €1,215,962 | -€176,976 | -12.7% |
| Amounts payable within one year | 42/48 | €3,007,199 | €2,990,271 | -€16,928 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €173,081 | €176,976 | +€3,896 | +2.3% |
| Trade debts | 44 | €7,214 | €72,784 | +€65,570 | +909% |
| Suppliers | 440/4 | €7,214 | €72,784 | +€65,570 | +909% |
| Taxes, remuneration and social security | 45 | €19,954 | €28,560 | +€8,606 | +43.1% |
| Taxes | 450/3 | €19,954 | €28,560 | +€8,606 | +43.1% |
| Other amounts payable | 47/48 | €2,806,950 | €2,711,950 | -€95,000 | -3.4% |
| Accrued charges and deferred income | 492/3 | €87,922 | €23,030 | -€64,892 | -73.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249,715 | €190,856 | -€58,858 | -23.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,000 | +€12,000 | |
| Other operating charges | 640/8 | €81,668 | €86,610 | +€4,942 | +6.1% |
| Gross operating margin | 9900 | €458,973 | €539,782 | +€80,809 | +17.6% |
| Operating profit (loss) | 9901 | €127,590 | €250,316 | +€122,725 | +96.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +233% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +233% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €23,583 | €44,762 | +€21,179 | +89.8% |
| Recurring financial charges | 65 | €23,583 | €44,762 | +€21,179 | +89.8% |
| Profit (loss) for the period before taxes | 9903 | €104,007 | €205,553 | +€101,546 | +97.6% |
| Transfer from deferred taxes | 780 | €2,289 | €2,289 | = | 0.0% |
| Income taxes | 67/77 | €28,291 | €54,171 | +€25,880 | +91.5% |
| Profit (loss) for the period | 9904 | €78,005 | €153,672 | +€75,666 | +97.0% |
| Transfer from tax-exempt reserves | 789 | €6,867 | €6,867 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,873 | €160,539 | +€75,666 | +89.2% |
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.