KAES LOGISTICS: 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.
KAES LOGISTICS
Largest movements
- Receivables within one year +€132,651
up €132,651 (+390%), from €33,986 to €166,637
of which Other amounts receivable: +€143,273
- Receivables after one year +€55,000
new in 2025: €55,000
- Tangible fixed assets +€18,731
up €18,731 (+128%), from €14,645 to €33,376
of which Land and buildings: +€17,766
- Deferred charges and accrued income -€14,977
down €14,977 (-79.4%), from €18,852 to €3,874
- Cash -€11,423
down €11,423 (-7.7%), from €148,737 to €137,314
mainly Receivables within one year (-€132,651) and Contributions, distributions and other (-€107,885)
- Reserves +€85,607
up €85,607 (+49.1%), from €174,462 to €260,069
- Other debts +€77,723
up €77,723 (+250%), from €31,088 to €108,811
- Tax, wage and social debts +€15,109
up €15,109 (+521%), from €2,898 to €18,007
- Financial income +€193,606
up €193,606 (+6,804%), from €2,846 to €196,452
of which Non-recurring financial income: +€196,000
- Gross operating margin -€23,334
down €23,334 (-43.8%), from €53,277 to €29,942
- Taxes +€10,583
up €10,583 (+69.9%), from €15,132 to €25,716
- Financial charges +€1,121
up €1,121 (+136%), from €827 to €1,948
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 | €220,220 | €401,201 | +€180,981 | +82.2% |
| Fixed assets | 21/28 | €18,645 | €38,376 | +€19,731 | +106% |
| Tangible fixed assets | 22/27 | €14,645 | €33,376 | +€18,731 | +128% |
| Land and buildings | 22 | €11,824 | €29,590 | +€17,766 | +150% |
| Plant, machinery and equipment | 23 | - | €2,148 | +€2,148 | |
| Furniture and vehicles | 24 | €2,821 | €1,638 | -€1,183 | -41.9% |
| Financial fixed assets | 28 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Current assets | 29/58 | €201,575 | €362,826 | +€161,251 | +80.0% |
| Amounts receivable after more than one year | 29 | - | €55,000 | +€55,000 | |
| Other amounts receivable | 291 | - | €55,000 | +€55,000 | |
| Amounts receivable within one year | 40/41 | €33,986 | €166,637 | +€132,651 | +390% |
| Trade receivables | 40 | €32,259 | €21,637 | -€10,622 | -32.9% |
| Other amounts receivable | 41 | €1,727 | €145,000 | +€143,273 | +8,297% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €148,737 | €137,314 | -€11,423 | -7.7% |
| Deferred charges and accrued income | 490/1 | €18,852 | €3,874 | -€14,977 | -79.4% |
| Total equity and liabilities | 10/49 | €220,220 | €401,201 | +€180,981 | +82.2% |
| Equity | 10/15 | €180,662 | €266,269 | +€85,607 | +47.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €174,462 | €260,069 | +€85,607 | +49.1% |
| Distributable reserves | 133 | €174,462 | €260,069 | +€85,607 | +49.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,558 | €134,932 | +€95,375 | +241% |
| Amounts payable within one year | 42/48 | €39,558 | €134,713 | +€95,155 | +241% |
| Financial debts | 43 | €2,293 | €729 | -€1,564 | -68.2% |
| Credit institutions | 430/8 | €2,293 | €729 | -€1,564 | -68.2% |
| Trade debts | 44 | €3,279 | €7,166 | +€3,887 | +119% |
| Suppliers | 440/4 | €3,279 | €7,166 | +€3,887 | +119% |
| Taxes, remuneration and social security | 45 | €2,898 | €18,007 | +€15,109 | +521% |
| Taxes | 450/3 | €2,898 | €18,007 | +€15,109 | +521% |
| Other amounts payable | 47/48 | €31,088 | €108,811 | +€77,723 | +250% |
| Accrued charges and deferred income | 492/3 | - | €220 | +€220 | |
| Non-recurring operating income | 76A | €1,109 | €0 | -€1,109 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,598 | €3,820 | +€222 | +6.2% |
| Other operating charges | 640/8 | €1,575 | €1,420 | -€156 | -9.9% |
| Gross operating margin | 9900 | €53,277 | €29,942 | -€23,334 | -43.8% |
| Operating profit (loss) | 9901 | €48,104 | €24,703 | -€23,401 | -48.6% |
| Financial income | 75/76B | €2,846 | €196,452 | +€193,606 | +6,804% |
| Recurring financial income | 75 | €2,846 | €452 | -€2,394 | -84.1% |
| Non-recurring financial income | 76B | - | €196,000 | +€196,000 | |
| Financial charges | 65/66B | €827 | €1,948 | +€1,121 | +136% |
| Recurring financial charges | 65 | €827 | €1,948 | +€1,121 | +136% |
| Profit (loss) for the period before taxes | 9903 | €50,123 | €219,207 | +€169,084 | +337% |
| Income taxes | 67/77 | €15,132 | €25,716 | +€10,583 | +69.9% |
| Profit (loss) for the period | 9904 | €34,990 | €193,492 | +€158,501 | +453% |
| Profit (loss) for the period to be appropriated | 9905 | €34,990 | €193,492 | +€158,501 | +453% |
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 13 October 2026 via checked.be.