M.K.P.: 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
M.K.P.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€123,530
2024 · -€92,397-€31,133
Equity
€3.2m
2024 · €3.3m-€123,530
Cash
€16,599
2024 · €12,885+€3,713
Balance sheet total
€4.1m
2024 · €4.2m-€117,946
Largest movements
Assets
- Tangible fixed assets -€123,135
down €123,135 (-3.0%), from €4.2m to €4.0m
of which Land and buildings: -€111,731
Equity and liabilities
- Profit (loss) carried forward -€85,191
down €85,191 (-173%), from -€49,351 to -€134,542
Income statement
- Gross operating margin -€10,464
down €10,464 (-12.1%), from €86,408 to €75,945
- Financial charges -€6,309
down €6,309 (-14.1%), from €44,886 to €38,577
- Depreciation -€3,209
down €3,209 (-2.4%), from €131,597 to €128,388
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
-€92,397
Gross operating margin
-€10,464
Depreciation
+€3,209
Other operating charges
-€212
Other operating items
-€30,000
Financial charges
+€6,309
Taxes
+€24
Result 2025
-€123,530
raises the resultlowers the resultnot broken down further in the accounts
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
+€8,966
Investment
-€5,253
Financing
€0
Cash 2024
€12,885
From operations (derived)
+€8,966
Net result for the year
-€123,530
Depreciation
+€128,388
Deferred charges and accrued income
-€1,476
Provisions
-€12,780
Trade debts
-€6,362
Smaller working-capital items
+€233
Other debts
+€24,493
Investment (derived)
-€5,253
Investment in fixed assets (net)
-€5,253
Cash 2025
€16,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,194,698 | €4,076,753 | -€117,946 | -2.8% |
| Fixed assets | 21/28 | €4,178,991 | €4,055,856 | -€123,135 | -2.9% |
| Tangible fixed assets | 22/27 | €4,172,483 | €4,049,348 | -€123,135 | -3.0% |
| Land and buildings | 22 | €4,044,360 | €3,932,629 | -€111,731 | -2.8% |
| Plant, machinery and equipment | 23 | €459 | €1,129 | +€670 | +146% |
| Furniture and vehicles | 24 | €43,205 | €31,131 | -€12,074 | -27.9% |
| Other tangible fixed assets | 26 | €84,460 | €84,460 | = | 0.0% |
| Financial fixed assets | 28 | €6,507 | €6,507 | = | 0.0% |
| Current assets | 29/58 | €15,708 | €20,897 | +€5,190 | +33.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €12,885 | €16,599 | +€3,713 | +28.8% |
| Deferred charges and accrued income | 490/1 | €2,822 | €4,298 | +€1,476 | +52.3% |
| Total equity and liabilities | 10/49 | €4,194,698 | €4,076,753 | -€117,946 | -2.8% |
| Equity | 10/15 | €3,317,178 | €3,193,648 | -€123,530 | -3.7% |
| Contributions | 10/11 | €2,728,351 | €2,728,351 | = | 0.0% |
| Reserves | 13 | €638,178 | €599,839 | -€38,339 | -6.0% |
| Tax-exempt reserves | 132 | €518,429 | €480,090 | -€38,339 | -7.4% |
| Distributable reserves | 133 | €119,749 | €119,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,351 | -€134,542 | -€85,191 | -173% |
| Provisions and deferred taxes | 16 | €170,891 | €158,112 | -€12,780 | -7.5% |
| Deferred taxes | 168 | €170,891 | €158,112 | -€12,780 | -7.5% |
| Amounts payable | 17/49 | €706,629 | €724,994 | +€18,364 | +2.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €705,234 | €723,347 | +€18,113 | +2.6% |
| Trade debts | 44 | €7,388 | €1,025 | -€6,362 | -86.1% |
| Suppliers | 440/4 | €7,388 | €1,025 | -€6,362 | -86.1% |
| Taxes, remuneration and social security | 45 | €11,438 | €11,419 | -€18 | -0.2% |
| Taxes | 450/3 | €11,438 | €11,419 | -€18 | -0.2% |
| Other amounts payable | 47/48 | €686,409 | €710,903 | +€24,493 | +3.6% |
| Accrued charges and deferred income | 492/3 | €1,395 | €1,646 | +€251 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,597 | €128,388 | -€3,209 | -2.4% |
| Other operating charges | 640/8 | €14,847 | €15,058 | +€212 | +1.4% |
| Non-recurring operating charges | 66A | - | €30,000 | +€30,000 | |
| Gross operating margin | 9900 | €86,408 | €75,945 | -€10,464 | -12.1% |
| Operating profit (loss) | 9901 | -€60,035 | -€97,501 | -€37,466 | -62.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €44,886 | €38,577 | -€6,309 | -14.1% |
| Recurring financial charges | 65 | €44,886 | €38,577 | -€6,309 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | -€104,921 | -€136,078 | -€31,158 | -29.7% |
| Transfer from deferred taxes | 780 | €12,780 | €12,780 | = | 0.0% |
| Income taxes | 67/77 | €256 | €232 | -€24 | -9.4% |
| Profit (loss) for the period | 9904 | -€92,397 | -€123,530 | -€31,133 | -33.7% |
| Transfer from tax-exempt reserves | 789 | €38,339 | €38,339 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,058 | -€85,191 | -€31,133 | -57.6% |
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 20 October 2026 via checked.be.