KZ 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.
KZ IMMO
Largest movements
- Intangible fixed assets -€16,908
no longer reported in 2025 (was €16,908)
- Tangible fixed assets -€15,613
down €15,613 (-1.8%), from €862,400 to €846,787
of which Land and buildings: -€11,058
- Receivables within one year +€10,348
new in 2025: €10,348
- Profit (loss) carried forward -€49,249
down €49,249 (-67.5%), from -€72,913 to -€122,162
- Other debts +€39,127
up €39,127 (+5.1%), from €769,364 to €808,491
- Debts after one year -€14,836
down €14,836 (-11.4%), from €130,247 to €115,411
- Financial charges +€47,894
up €47,894 (+1,151%), from €4,161 to €52,055
- Other operating charges -€3,466
down €3,466 (-98.5%), from €3,519 to €53
- Gross operating margin +€1,234
up €1,234 (+3.6%), from €34,146 to €35,380
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 | €882,194 | €859,786 | -€22,408 | -2.5% |
| Formation expenses | 20 | €2,650 | €2,650 | = | 0.0% |
| Fixed assets | 21/28 | €879,308 | €846,787 | -€32,521 | -3.7% |
| Intangible fixed assets | 21 | €16,908 | - | -€16,908 | |
| Tangible fixed assets | 22/27 | €862,400 | €846,787 | -€15,613 | -1.8% |
| Land and buildings | 22 | €841,659 | €830,600 | -€11,058 | -1.3% |
| Other tangible fixed assets | 26 | €20,741 | €16,187 | -€4,554 | -22.0% |
| Current assets | 29/58 | €235 | €10,348 | +€10,113 | +4,295% |
| Amounts receivable within one year | 40/41 | - | €10,348 | +€10,348 | |
| Other amounts receivable | 41 | - | €10,348 | +€10,348 | |
| Cash at bank and in hand | 54/58 | €235 | - | -€235 | |
| Total equity and liabilities | 10/49 | €882,194 | €859,786 | -€22,408 | -2.5% |
| Equity | 10/15 | -€47,913 | -€97,162 | -€49,249 | -103% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,913 | -€122,162 | -€49,249 | -67.5% |
| Amounts payable | 17/49 | €930,106 | €956,948 | +€26,841 | +2.9% |
| Amounts payable after more than one year | 17 | €130,247 | €115,411 | -€14,836 | -11.4% |
| Financial debts | 170/4 | €130,247 | €115,411 | -€14,836 | -11.4% |
| Amounts payable within one year | 42/48 | €781,486 | €823,163 | +€41,677 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €12,122 | €14,304 | +€2,183 | +18.0% |
| Financial debts | 43 | - | €368 | +€368 | |
| Credit institutions | 430/8 | - | €368 | +€368 | |
| Other amounts payable | 47/48 | €769,364 | €808,491 | +€39,127 | +5.1% |
| Accrued charges and deferred income | 492/3 | €18,374 | €18,374 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,521 | €32,521 | = | 0.0% |
| Other operating charges | 640/8 | €3,519 | €53 | -€3,466 | -98.5% |
| Gross operating margin | 9900 | €34,146 | €35,380 | +€1,234 | +3.6% |
| Operating profit (loss) | 9901 | -€1,894 | €2,806 | +€4,700 | |
| Financial charges | 65/66B | €4,161 | €52,055 | +€47,894 | +1,151% |
| Recurring financial charges | 65 | €4,161 | €52,055 | +€47,894 | +1,151% |
| Profit (loss) for the period before taxes | 9903 | -€6,055 | -€49,249 | -€43,194 | -713% |
| Profit (loss) for the period | 9904 | -€6,055 | -€49,249 | -€43,194 | -713% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,055 | -€49,249 | -€43,194 | -713% |
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 13 October 2026 via checked.be.