K-EXPRESSE: 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-EXPRESSE
Largest movements
- Receivables within one year +€262,468
up €262,468 (+252.6%), from €103,898 to €366,366
of which Trade receivables: +€190,968
- Cash -€59,497
down €59,497 (-62.1%), from €95,745 to €36,248
mainly Receivables within one year (-€262,468) and Investment in fixed assets (net) (-€8,410)
- Tangible fixed assets -€17,106
down €17,106 (-20.5%), from €83,482 to €66,375
- Profit (loss) carried forward +€104,270
up €104,270 (+41.7%), from €249,832 to €354,102
- Tax, wage and social debts +€60,192
up €60,192 (+379.9%), from €15,845 to €76,037
of which Taxes: +€48,448
- Trade debts +€21,403
up €21,403 (+1057.5%), from €2,024 to €23,427
- Gross operating margin +€86,897
up €86,897 (+31.2%), from €278,161 to €365,058
- Staff costs +€40,364
up €40,364 (+27.8%), from €145,007 to €185,371
- Taxes +€36,200
new in 2025: €36,200
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 | €283,125 | €468,990 | +€185,865 | +65.6% |
| Fixed assets | 21/28 | €83,482 | €66,375 | -€17,106 | -20.5% |
| Tangible fixed assets | 22/27 | €83,482 | €66,375 | -€17,106 | -20.5% |
| Plant, machinery and equipment | 23 | €29,760 | €21,909 | -€7,851 | -26.4% |
| Furniture and vehicles | 24 | €31,045 | €23,284 | -€7,761 | -25.0% |
| Leasing and similar rights | 25 | €22,677 | €21,183 | -€1,494 | -6.6% |
| Current assets | 29/58 | €199,644 | €402,614 | +€202,971 | +101.7% |
| Amounts receivable within one year | 40/41 | €103,898 | €366,366 | +€262,468 | +252.6% |
| Trade receivables | 40 | €103,898 | €294,866 | +€190,968 | +183.8% |
| Other amounts receivable | 41 | - | €71,500 | +€71,500 | |
| Cash at bank and in hand | 54/58 | €95,745 | €36,248 | -€59,497 | -62.1% |
| Total equity and liabilities | 10/49 | €283,125 | €468,990 | +€185,865 | +65.6% |
| Equity | 10/15 | €265,256 | €369,526 | +€104,270 | +39.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €12,400 | -€6,200 | -33.3% |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €3,024 | €3,024 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,024 | €3,024 | = | 0.0% |
| Legal reserve | 130 | €3,024 | €3,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | €249,832 | €354,102 | +€104,270 | +41.7% |
| Amounts payable | 17/49 | €17,869 | €99,464 | +€81,595 | +456.6% |
| Amounts payable within one year | 42/48 | €17,869 | €99,464 | +€81,595 | +456.6% |
| Trade debts | 44 | €2,024 | €23,427 | +€21,403 | +1057.5% |
| Suppliers | 440/4 | €2,024 | €23,427 | +€21,403 | +1057.5% |
| Taxes, remuneration and social security | 45 | €15,845 | €76,037 | +€60,192 | +379.9% |
| Taxes | 450/3 | €15,845 | €64,293 | +€48,448 | +305.8% |
| Remuneration and social security | 454/9 | - | €11,744 | +€11,744 | |
| Remuneration, social security and pensions | 62 | €145,007 | €185,371 | +€40,364 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,353 | €25,516 | +€3,163 | +14.2% |
| Other operating charges | 640/8 | €7,849 | €7,294 | -€554 | -7.1% |
| Gross operating margin | 9900 | €278,161 | €365,058 | +€86,897 | +31.2% |
| Operating profit (loss) | 9901 | €102,953 | €146,877 | +€43,924 | +42.7% |
| Financial charges | 65/66B | €2,955 | €6,407 | +€3,452 | +116.8% |
| Recurring financial charges | 65 | €2,955 | €6,407 | +€3,452 | +116.8% |
| Profit (loss) for the period before taxes | 9903 | €99,997 | €140,470 | +€40,473 | +40.5% |
| Income taxes | 67/77 | - | €36,200 | +€36,200 | |
| Profit (loss) for the period | 9904 | €99,997 | €104,270 | +€4,273 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99,997 | €104,270 | +€4,273 | +4.3% |
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 11 October 2026 via checked.be.