HK TRANSPORT: 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.
HK TRANSPORT
Largest movements
- Receivables within one year +€58,694
up €58,694 (+67.7%), from €86,636 to €145,330
- Tangible fixed assets +€9,812
up €9,812 (+9.3%), from €105,944 to €115,756
- Cash -€6,654
down €6,654 (-37.3%), from €17,841 to €11,187
mainly Investment in fixed assets (net) (-€59,612) and Receivables within one year (-€58,694)
- Tax, wage and social debts +€45,749
up €45,749 (+108%), from €42,388 to €88,136
of which Remuneration and social security: +€24,104
- Trade debts +€21,965
up €21,965 (+368%), from €5,972 to €27,936
- Profit (loss) carried forward -€14,808
no longer reported in 2025 (was €14,808)
- Other debts -€10,860
down €10,860 (-38.1%), from €28,507 to €17,646
- Current portion of long-term debt +€10,149
up €10,149 (+30.6%), from €33,161 to €43,310
- Gross operating margin +€138,020
up €138,020 (+85.7%), from €160,979 to €298,999
- Staff costs +€123,800
up €123,800 (+118%), from €105,012 to €228,812
- Depreciation +€30,530
up €30,530 (+158%), from €19,270 to €49,799
- Financial charges +€3,778
up €3,778 (+89.4%), from €4,227 to €8,005
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 | €214,093 | €275,751 | +€61,658 | +28.8% |
| Fixed assets | 21/28 | €105,944 | €115,756 | +€9,812 | +9.3% |
| Tangible fixed assets | 22/27 | €105,944 | €115,756 | +€9,812 | +9.3% |
| Furniture and vehicles | 24 | €105,944 | €115,756 | +€9,812 | +9.3% |
| Current assets | 29/58 | €108,149 | €159,995 | +€51,846 | +47.9% |
| Amounts receivable within one year | 40/41 | €86,636 | €145,330 | +€58,694 | +67.7% |
| Trade receivables | 40 | €86,636 | €145,330 | +€58,694 | +67.7% |
| Cash at bank and in hand | 54/58 | €17,841 | €11,187 | -€6,654 | -37.3% |
| Deferred charges and accrued income | 490/1 | €3,672 | €3,478 | -€194 | -5.3% |
| Total equity and liabilities | 10/49 | €214,093 | €275,751 | +€61,658 | +28.8% |
| Equity | 10/15 | €29,808 | €15,000 | -€14,808 | -49.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,808 | - | -€14,808 | |
| Amounts payable | 17/49 | €184,285 | €260,751 | +€76,466 | +41.5% |
| Amounts payable after more than one year | 17 | €73,022 | €79,579 | +€6,557 | +9.0% |
| Financial debts | 170/4 | €73,022 | €79,579 | +€6,557 | +9.0% |
| Amounts payable within one year | 42/48 | €110,027 | €177,029 | +€67,002 | +60.9% |
| Current portion of amounts payable after more than one year | 42 | €33,161 | €43,310 | +€10,149 | +30.6% |
| Trade debts | 44 | €5,972 | €27,936 | +€21,965 | +368% |
| Suppliers | 440/4 | €5,972 | €27,936 | +€21,965 | +368% |
| Taxes, remuneration and social security | 45 | €42,388 | €88,136 | +€45,749 | +108% |
| Taxes | 450/3 | €24,261 | €45,905 | +€21,644 | +89.2% |
| Remuneration and social security | 454/9 | €18,127 | €42,232 | +€24,104 | +133% |
| Other amounts payable | 47/48 | €28,507 | €17,646 | -€10,860 | -38.1% |
| Accrued charges and deferred income | 492/3 | €1,236 | €4,143 | +€2,906 | +235% |
| Remuneration, social security and pensions | 62 | €105,012 | €228,812 | +€123,800 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,270 | €49,799 | +€30,530 | +158% |
| Other operating charges | 640/8 | €5,475 | €6,763 | +€1,288 | +23.5% |
| Gross operating margin | 9900 | €160,979 | €298,999 | +€138,020 | +85.7% |
| Operating profit (loss) | 9901 | €31,222 | €13,624 | -€17,598 | -56.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +233% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +233% |
| Financial charges | 65/66B | €4,227 | €8,005 | +€3,778 | +89.4% |
| Recurring financial charges | 65 | €4,227 | €8,005 | +€3,778 | +89.4% |
| Profit (loss) for the period before taxes | 9903 | €26,996 | €5,620 | -€21,376 | -79.2% |
| Income taxes | 67/77 | €4,820 | €3,110 | -€1,710 | -35.5% |
| Profit (loss) for the period | 9904 | €22,175 | €2,509 | -€19,666 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,175 | €2,509 | -€19,666 | -88.7% |
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 26 October 2026 via checked.be.