KWOTUM: 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
KWOTUM
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€6,214
2024 · -€11,808+€5,594
Equity
€567,789
2024 · €574,003-€6,214
Cash
€5,609
2024 · €6,179-€570
Balance sheet total
€1.4m
2024 · €1.7m-€293,814
Largest movements
Assets
- Stocks and contracts -€212,246
down €212,246 (-50.4%), from €420,973 to €208,726
- Tangible fixed assets -€68,170
down €68,170 (-5.7%), from €1.2m to €1.1m
of which Land and buildings: -€69,310
Equity and liabilities
- Short-term financial debts -€239,988
down €239,988 (-70.6%), from €340,000 to €100,012
- Debts after one year -€53,029
down €53,029 (-9.3%), from €571,689 to €518,660
- Reserves -€16,807
down €16,807 (-2.6%), from €651,499 to €634,692
of which Tax-exempt reserves: -€16,807
Income statement
- Gross operating margin +€15,322
up €15,322 (+15.0%), from €102,043 to €117,366
- Staff costs +€13,460
new in 2025: €13,460
- Financial charges -€7,567
down €7,567 (-24.1%), from €31,411 to €23,844
- Taxes +€1,943
up €1,943 (+71.5%), from €2,718 to €4,661
- Other operating charges +€1,796
up €1,796 (+15.4%), from €11,694 to €13,490
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
-€11,808
Gross operating margin
+€15,322
Staff costs
-€13,460
Depreciation
-€125
Other operating charges
-€1,796
Financial income
+€29
Financial charges
+€7,567
Taxes
-€1,943
Result 2025
-€6,214
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
+€297,275
Investment
-€5,590
Financing
-€292,254
Cash 2024
€6,179
From operations (derived)
+€297,275
Net result for the year
-€6,214
Depreciation
+€73,760
Stocks and contracts
+€212,246
Receivables within one year
+€15,825
Deferred charges and accrued income
-€2,998
Provisions
-€5,602
Smaller working-capital items
+€670
Accrued charges and deferred income
+€9,588
Investment (derived)
-€5,590
Investment in fixed assets (net)
-€5,590
Financing
-€292,254
Debts after one year
-€53,029
Current portion of long-term debt
+€763
Short-term financial debts
-€239,988
Cash 2025
€5,609
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,655,421 | €1,361,607 | -€293,814 | -17.7% |
| Fixed assets | 21/28 | €1,201,404 | €1,133,235 | -€68,170 | -5.7% |
| Tangible fixed assets | 22/27 | €1,201,399 | €1,133,230 | -€68,170 | -5.7% |
| Land and buildings | 22 | €1,193,025 | €1,123,715 | -€69,310 | -5.8% |
| Furniture and vehicles | 24 | €8,375 | €9,514 | +€1,140 | +13.6% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €454,016 | €228,372 | -€225,644 | -49.7% |
| Stocks and contracts in progress | 3 | €420,973 | €208,726 | -€212,246 | -50.4% |
| Stocks | 30/36 | €420,973 | €208,726 | -€212,246 | -50.4% |
| Amounts receivable within one year | 40/41 | €24,838 | €9,013 | -€15,825 | -63.7% |
| Trade receivables | 40 | €2,526 | €1,674 | -€852 | -33.7% |
| Other amounts receivable | 41 | €22,312 | €7,339 | -€14,974 | -67.1% |
| Cash at bank and in hand | 54/58 | €6,179 | €5,609 | -€570 | -9.2% |
| Deferred charges and accrued income | 490/1 | €2,026 | €5,024 | +€2,998 | +148% |
| Total equity and liabilities | 10/49 | €1,655,421 | €1,361,607 | -€293,814 | -17.7% |
| Equity | 10/15 | €574,003 | €567,789 | -€6,214 | -1.1% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Revaluation surpluses | 12 | €71 | €71 | = | 0.0% |
| Reserves | 13 | €651,499 | €634,692 | -€16,807 | -2.6% |
| Non-distributable reserves | 130/1 | €46,682 | €46,682 | = | 0.0% |
| Own shares acquired | 1312 | €46,682 | €46,682 | = | 0.0% |
| Tax-exempt reserves | 132 | €409,934 | €393,127 | -€16,807 | -4.1% |
| Distributable reserves | 133 | €194,883 | €194,883 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,567 | -€104,974 | +€10,593 | +9.2% |
| Provisions and deferred taxes | 16 | €115,645 | €110,042 | -€5,602 | -4.8% |
| Deferred taxes | 168 | €115,645 | €110,042 | -€5,602 | -4.8% |
| Amounts payable | 17/49 | €965,773 | €683,776 | -€281,997 | -29.2% |
| Amounts payable after more than one year | 17 | €571,689 | €518,660 | -€53,029 | -9.3% |
| Financial debts | 170/4 | €571,689 | €518,660 | -€53,029 | -9.3% |
| Amounts payable within one year | 42/48 | €390,739 | €152,184 | -€238,555 | -61.1% |
| Current portion of amounts payable after more than one year | 42 | €45,266 | €46,029 | +€763 | +1.7% |
| Financial debts | 43 | €340,000 | €100,012 | -€239,988 | -70.6% |
| Credit institutions | 430/8 | €340,000 | €100,012 | -€239,988 | -70.6% |
| Trade debts | 44 | €1,854 | €2,333 | +€479 | +25.8% |
| Suppliers | 440/4 | €1,854 | €2,333 | +€479 | +25.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,619 | €3,810 | +€191 | +5.3% |
| Accrued charges and deferred income | 492/3 | €3,345 | €12,933 | +€9,588 | +287% |
| Remuneration, social security and pensions | 62 | - | €13,460 | +€13,460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,635 | €73,760 | +€125 | +0.2% |
| Other operating charges | 640/8 | €11,694 | €13,490 | +€1,796 | +15.4% |
| Gross operating margin | 9900 | €102,043 | €117,366 | +€15,322 | +15.0% |
| Operating profit (loss) | 9901 | €16,714 | €16,656 | -€58 | -0.3% |
| Financial income | 75/76B | €4 | €33 | +€29 | +700% |
| Recurring financial income | 75 | €4 | €33 | +€29 | +700% |
| Financial charges | 65/66B | €31,411 | €23,844 | -€7,567 | -24.1% |
| Recurring financial charges | 65 | €31,411 | €23,844 | -€7,567 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,693 | -€7,155 | +€7,538 | +51.3% |
| Transfer from deferred taxes | 780 | €5,602 | €5,602 | = | 0.0% |
| Income taxes | 67/77 | €2,718 | €4,661 | +€1,943 | +71.5% |
| Profit (loss) for the period | 9904 | -€11,808 | -€6,214 | +€5,594 | +47.4% |
| Transfer from tax-exempt reserves | 789 | €16,807 | €16,807 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,999 | €10,593 | +€5,594 | +112% |
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 17 October 2026 via checked.be.