MKSD 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.
MKSD Immo
Largest movements
- Tangible fixed assets +€60,287
up €60,287 (+17.9%), from €336,526 to €396,813
of which Land and buildings: +€309,693
- Receivables within one year -€11,877
down €11,877 (-66.1%), from €17,959 to €6,082
of which Trade receivables: -€11,723
- Deferred charges and accrued income -€8,245
down €8,245 (-56.5%), from €14,603 to €6,358
- Cash -€6,092
down €6,092 (-89.5%), from €6,803 to €711
mainly Investment in fixed assets (net) (-€104,843) and Net result for the year (-€19,718)
- Other debts +€61,785
up €61,785 (+30.7%), from €201,538 to €263,323
- Profit (loss) carried forward -€19,718
down €19,718 (-22.8%), from -€86,594 to -€106,312
- Debts after one year -€17,965
down €17,965 (-16.5%), from €109,163 to €91,198
- Tax, wage and social debts +€12,609
new in 2025: €12,609
- Depreciation -€102,790
down €102,790 (-69.8%), from €147,346 to €44,556
- Turnover +€15,256
up €15,256 (+27.3%), from €55,855 to €71,111
- Purchases and services +€10,131
up €10,131 (+90.9%), from €11,146 to €21,277
- Taxes +€9,969
new in 2025: €9,969
- Financial charges +€8,199
up €8,199 (+376%), from €2,181 to €10,380
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 | €375,891 | €409,964 | +€34,073 | +9.1% |
| Fixed assets | 21/28 | €336,526 | €396,813 | +€60,287 | +17.9% |
| Tangible fixed assets | 22/27 | €336,526 | €396,813 | +€60,287 | +17.9% |
| Land and buildings | 22 | - | €309,693 | +€309,693 | |
| Plant, machinery and equipment | 23 | €140,396 | - | -€140,396 | |
| Furniture and vehicles | 24 | €22,699 | €24,294 | +€1,595 | +7.0% |
| Leasing and similar rights | 25 | €163,431 | - | -€163,431 | |
| Assets under construction and advance payments | 27 | €10,000 | €62,826 | +€52,826 | +528% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €39,365 | €13,151 | -€26,214 | -66.6% |
| Amounts receivable within one year | 40/41 | €17,959 | €6,082 | -€11,877 | -66.1% |
| Trade receivables | 40 | €12,805 | €1,082 | -€11,723 | -91.6% |
| Other amounts receivable | 41 | €5,154 | €5,000 | -€154 | -3.0% |
| Cash at bank and in hand | 54/58 | €6,803 | €711 | -€6,092 | -89.5% |
| Deferred charges and accrued income | 490/1 | €14,603 | €6,358 | -€8,245 | -56.5% |
| Total equity and liabilities | 10/49 | €375,891 | €409,964 | +€34,073 | +9.1% |
| Equity | 10/15 | -€66,134 | -€85,852 | -€19,718 | -29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,594 | -€106,312 | -€19,718 | -22.8% |
| Amounts payable | 17/49 | €442,025 | €495,816 | +€53,791 | +12.2% |
| Amounts payable after more than one year | 17 | €109,163 | €91,198 | -€17,965 | -16.5% |
| Financial debts | 170/4 | €109,163 | €91,198 | -€17,965 | -16.5% |
| Amounts payable within one year | 42/48 | €332,862 | €404,618 | +€71,756 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €17,966 | €17,966 | = | 0.0% |
| Trade debts | 44 | €113,358 | €110,720 | -€2,638 | -2.3% |
| Suppliers | 440/4 | €113,358 | €110,720 | -€2,638 | -2.3% |
| Taxes, remuneration and social security | 45 | - | €12,609 | +€12,609 | |
| Taxes | 450/3 | - | €12,609 | +€12,609 | |
| Other amounts payable | 47/48 | €201,538 | €263,323 | +€61,785 | +30.7% |
| Turnover | 70 | €55,855 | €71,111 | +€15,256 | +27.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,146 | €21,277 | +€10,131 | +90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,346 | €44,556 | -€102,790 | -69.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €4,309 | +€4,309 | |
| Other operating charges | 640/8 | €2,754 | €340 | -€2,414 | -87.7% |
| Gross operating margin | 9900 | €44,709 | €49,834 | +€5,125 | +11.5% |
| Operating profit (loss) | 9901 | -€105,391 | €629 | +€106,020 | |
| Financial income | 75/76B | €32 | €2 | -€30 | -93.8% |
| Recurring financial income | 75 | €32 | €2 | -€30 | -93.8% |
| Financial charges | 65/66B | €2,181 | €10,380 | +€8,199 | +376% |
| Recurring financial charges | 65 | €2,181 | €10,380 | +€8,199 | +376% |
| Profit (loss) for the period before taxes | 9903 | -€107,540 | -€9,749 | +€97,791 | +90.9% |
| Income taxes | 67/77 | - | €9,969 | +€9,969 | |
| Profit (loss) for the period | 9904 | -€107,540 | -€19,718 | +€87,822 | +81.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,540 | -€19,718 | +€87,822 | +81.7% |
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 16 October 2026 via checked.be.