Property KS: 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.
Property KS
Largest movements
- Tangible fixed assets -€1.0m
down €1.0m (-40.8%), from €2.6m to €1.5m
- Cash +€206,079
up €206,079 (+1853.7%), from €11,117 to €217,196
mainly Investment in fixed assets (net) (+€991,556) and Net result for the year (+€71,072)
- Debts after one year -€881,625
down €881,625 (-41.1%), from €2.1m to €1.3m
of which Financial debts: -€462,724
- Reserves +€71,072
up €71,072 (+43.5%), from €163,408 to €234,480
- Current portion of long-term debt -€41,055
down €41,055 (-27.4%), from €150,028 to €108,973
- Depreciation -€32,569
down €32,569 (-39.6%), from €82,188 to €49,618
- Other operating charges +€12,838
up €12,838 (+29.2%), from €44,032 to €56,871
- Gross operating margin +€8,561
up €8,561 (+3.9%), from €218,985 to €227,546
- Taxes +€7,980
up €7,980 (+46.3%), from €17,237 to €25,217
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.
Cash bridge derived
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 | €2,593,464 | €1,736,712 | -€856,752 | -33.0% |
| Fixed assets | 21/28 | €2,552,528 | €1,511,354 | -€1.0m | -40.8% |
| Tangible fixed assets | 22/27 | €2,552,528 | €1,511,354 | -€1.0m | -40.8% |
| Land and buildings | 22 | €2,552,528 | €1,511,354 | -€1.0m | -40.8% |
| Current assets | 29/58 | €40,936 | €225,358 | +€184,423 | +450.5% |
| Amounts receivable within one year | 40/41 | €26,411 | €6,408 | -€20,003 | -75.7% |
| Trade receivables | 40 | €23,648 | €3,645 | -€20,003 | -84.6% |
| Other amounts receivable | 41 | €2,763 | €2,763 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,117 | €217,196 | +€206,079 | +1853.7% |
| Deferred charges and accrued income | 490/1 | €3,408 | €1,755 | -€1,653 | -48.5% |
| Total equity and liabilities | 10/49 | €2,593,464 | €1,736,712 | -€856,752 | -33.0% |
| Equity | 10/15 | €182,008 | €253,080 | +€71,072 | +39.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163,408 | €234,480 | +€71,072 | +43.5% |
| Distributable reserves | 133 | €163,408 | €234,480 | +€71,072 | +43.5% |
| Amounts payable | 17/49 | €2,411,456 | €1,483,632 | -€927,823 | -38.5% |
| Amounts payable after more than one year | 17 | €2,144,097 | €1,262,472 | -€881,625 | -41.1% |
| Financial debts | 170/4 | €919,423 | €456,699 | -€462,724 | -50.3% |
| Other amounts payable | 178/9 | €1,224,674 | €805,773 | -€418,901 | -34.2% |
| Amounts payable within one year | 42/48 | €262,674 | €219,794 | -€42,880 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €150,028 | €108,973 | -€41,055 | -27.4% |
| Trade debts | 44 | €65,646 | €42,604 | -€23,042 | -35.1% |
| Suppliers | 440/4 | €65,646 | €42,604 | -€23,042 | -35.1% |
| Taxes, remuneration and social security | 45 | - | €10,217 | +€10,217 | |
| Taxes | 450/3 | - | €10,217 | +€10,217 | |
| Other amounts payable | 47/48 | €47,000 | €58,000 | +€11,000 | +23.4% |
| Accrued charges and deferred income | 492/3 | €4,684 | €1,367 | -€3,318 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,188 | €49,618 | -€32,569 | -39.6% |
| Other operating charges | 640/8 | €44,032 | €56,871 | +€12,838 | +29.2% |
| Gross operating margin | 9900 | €218,985 | €227,546 | +€8,561 | +3.9% |
| Operating profit (loss) | 9901 | €92,765 | €121,057 | +€28,292 | +30.5% |
| Financial income | 75/76B | €2 | €1 | -€1 | -42.8% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -42.8% |
| Financial charges | 65/66B | €25,221 | €24,769 | -€453 | -1.8% |
| Recurring financial charges | 65 | €25,221 | €24,769 | -€453 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €67,546 | €96,289 | +€28,744 | +42.6% |
| Income taxes | 67/77 | €17,237 | €25,217 | +€7,980 | +46.3% |
| Profit (loss) for the period | 9904 | €50,309 | €71,072 | +€20,763 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,309 | €71,072 | +€20,763 | +41.3% |
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 12 October 2026 via checked.be.