K-Express: 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.
K-Express
Largest movements
- Stocks and contracts -€45,106
down €45,106 (-35.4%), from €127,251 to €82,145
- Receivables within one year +€33,069
up €33,069 (+55.3%), from €59,811 to €92,880
of which Other amounts receivable: +€49,254
- Tangible fixed assets -€6,302
down €6,302 (-30.0%), from €20,978 to €14,676
of which Plant, machinery and equipment: -€5,830
- Deferred charges and accrued income +€2,568
up €2,568 (+380%), from €675 to €3,243
- Cash -€2,170
down €2,170 (-36.1%), from €6,009 to €3,839
mainly Receivables within one year (-€33,069) and Other debts (-€18,388)
- Other debts -€18,388
down €18,388 (-68.1%), from €26,988 to €8,600
- Trade debts +€12,574
up €12,574 (+37.9%), from €33,220 to €45,794
- Tax, wage and social debts -€8,683
down €8,683 (-21.6%), from €40,221 to €31,537
of which Taxes: -€16,481
- Short-term financial debts -€3,285
down €3,285 (-6.0%), from €54,974 to €51,689
- Staff costs +€20,738
up €20,738 (+160%), from €12,995 to €33,733
- Gross operating margin +€6,261
up €6,261 (+15.3%), from €40,961 to €47,223
- Taxes -€5,698
down €5,698 (-88.7%), from €6,424 to €727
- Depreciation -€2,006
down €2,006 (-23.9%), from €8,408 to €6,402
- Other operating charges -€1,794
down €1,794 (-41.0%), from €4,374 to €2,580
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 | €215,424 | €197,384 | -€18,040 | -8.4% |
| Fixed assets | 21/28 | €21,678 | €15,276 | -€6,402 | -29.5% |
| Intangible fixed assets | 21 | €700 | €600 | -€100 | -14.3% |
| Tangible fixed assets | 22/27 | €20,978 | €14,676 | -€6,302 | -30.0% |
| Plant, machinery and equipment | 23 | €18,217 | €12,387 | -€5,830 | -32.0% |
| Furniture and vehicles | 24 | €306 | €100 | -€206 | -67.3% |
| Other tangible fixed assets | 26 | €2,455 | €2,189 | -€266 | -10.8% |
| Current assets | 29/58 | €193,746 | €182,108 | -€11,638 | -6.0% |
| Stocks and contracts in progress | 3 | €127,251 | €82,145 | -€45,106 | -35.4% |
| Stocks | 30/36 | €127,251 | €82,145 | -€45,106 | -35.4% |
| Amounts receivable within one year | 40/41 | €59,811 | €92,880 | +€33,069 | +55.3% |
| Trade receivables | 40 | €54,154 | €37,969 | -€16,185 | -29.9% |
| Other amounts receivable | 41 | €5,658 | €54,912 | +€49,254 | +871% |
| Cash at bank and in hand | 54/58 | €6,009 | €3,839 | -€2,170 | -36.1% |
| Deferred charges and accrued income | 490/1 | €675 | €3,243 | +€2,568 | +380% |
| Total equity and liabilities | 10/49 | €215,424 | €197,384 | -€18,040 | -8.4% |
| Equity | 10/15 | €60,021 | €59,764 | -€258 | -0.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,021 | €57,764 | -€258 | -0.4% |
| Distributable reserves | 133 | €58,021 | €57,764 | -€258 | -0.4% |
| Amounts payable | 17/49 | €155,403 | €137,620 | -€17,782 | -11.4% |
| Amounts payable within one year | 42/48 | €155,403 | €137,620 | -€17,782 | -11.4% |
| Financial debts | 43 | €54,974 | €51,689 | -€3,285 | -6.0% |
| Credit institutions | 430/8 | €54,974 | €51,689 | -€3,285 | -6.0% |
| Trade debts | 44 | €33,220 | €45,794 | +€12,574 | +37.9% |
| Suppliers | 440/4 | €33,220 | €45,794 | +€12,574 | +37.9% |
| Taxes, remuneration and social security | 45 | €40,221 | €31,537 | -€8,683 | -21.6% |
| Taxes | 450/3 | €36,221 | €19,739 | -€16,481 | -45.5% |
| Remuneration and social security | 454/9 | €4,000 | €11,798 | +€7,798 | +195% |
| Other amounts payable | 47/48 | €26,988 | €8,600 | -€18,388 | -68.1% |
| Remuneration, social security and pensions | 62 | €12,995 | €33,733 | +€20,738 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,408 | €6,402 | -€2,006 | -23.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,408 | - | -€1,408 | |
| Other operating charges | 640/8 | €4,374 | €2,580 | -€1,794 | -41.0% |
| Gross operating margin | 9900 | €40,961 | €47,223 | +€6,261 | +15.3% |
| Operating profit (loss) | 9901 | €13,777 | €4,508 | -€9,269 | -67.3% |
| Financial income | 75/76B | €3 | €4 | +€1 | +32.3% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +32.3% |
| Financial charges | 65/66B | €3,128 | €4,044 | +€915 | +29.3% |
| Recurring financial charges | 65 | €3,128 | €4,044 | +€915 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €10,652 | €469 | -€10,184 | -95.6% |
| Income taxes | 67/77 | €6,424 | €727 | -€5,698 | -88.7% |
| Profit (loss) for the period | 9904 | €4,228 | -€258 | -€4,486 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,228 | -€258 | -€4,486 |
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 18 October 2026 via checked.be.