KAWATRANS: 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.
KAWATRANS
Largest movements
- Cash +€182,431
up €182,431 (+198%), from €92,280 to €274,711
mainly Current investments (+€150,000) and Depreciation (+€77,018)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets -€73,566
down €73,566 (-27.7%), from €265,857 to €192,291
of which Furniture and vehicles: -€72,172
- Receivables after one year -€8,743
down €8,743 (-14.3%), from €61,139 to €52,396
- Reserves +€45,256
up €45,256 (+12.8%), from €353,822 to €399,078
of which Distributable reserves: +€68,256
- Debts after one year -€43,844
down €43,844 (-39.5%), from €110,926 to €67,082
- Tax, wage and social debts -€19,388
down €19,388 (-99.4%), from €19,507 to €119
of which Taxes: -€11,032
- Other debts -€18,297
down €18,297 (-31.7%), from €57,786 to €39,490
- Short-term financial debts -€11,006
down €11,006 (-49.0%), from €22,469 to €11,463
- Gross operating margin -€15,245
down €15,245 (-6.4%), from €238,757 to €223,512
- Other operating charges -€8,173
down €8,173 (-12.2%), from €67,222 to €59,050
- Depreciation +€3,158
up €3,158 (+4.3%), from €73,859 to €77,018
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 | €633,222 | €587,041 | -€46,182 | -7.3% |
| Fixed assets | 21/28 | €266,017 | €192,451 | -€73,566 | -27.7% |
| Tangible fixed assets | 22/27 | €265,857 | €192,291 | -€73,566 | -27.7% |
| Land and buildings | 22 | €4,310 | €2,717 | -€1,593 | -37.0% |
| Plant, machinery and equipment | 23 | - | €1,140 | +€1,140 | |
| Furniture and vehicles | 24 | €255,253 | €183,080 | -€72,172 | -28.3% |
| Other tangible fixed assets | 26 | €6,294 | €5,354 | -€940 | -14.9% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €367,206 | €394,590 | +€27,384 | +7.5% |
| Amounts receivable after more than one year | 29 | €61,139 | €52,396 | -€8,743 | -14.3% |
| Other amounts receivable | 291 | €61,139 | €52,396 | -€8,743 | -14.3% |
| Amounts receivable within one year | 40/41 | €50,604 | €56,811 | +€6,208 | +12.3% |
| Trade receivables | 40 | €42,086 | €46,568 | +€4,482 | +10.6% |
| Other amounts receivable | 41 | €8,517 | €10,243 | +€1,726 | +20.3% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €92,280 | €274,711 | +€182,431 | +198% |
| Deferred charges and accrued income | 490/1 | €13,183 | €10,672 | -€2,511 | -19.0% |
| Total equity and liabilities | 10/49 | €633,222 | €587,041 | -€46,182 | -7.3% |
| Equity | 10/15 | €368,822 | €414,078 | +€45,256 | +12.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €353,822 | €399,078 | +€45,256 | +12.8% |
| Tax-exempt reserves | 132 | €72,170 | €49,170 | -€23,000 | -31.9% |
| Distributable reserves | 133 | €281,652 | €349,908 | +€68,256 | +24.2% |
| Amounts payable | 17/49 | €264,400 | €172,962 | -€91,438 | -34.6% |
| Amounts payable after more than one year | 17 | €110,926 | €67,082 | -€43,844 | -39.5% |
| Financial debts | 170/4 | €110,926 | €67,082 | -€43,844 | -39.5% |
| Amounts payable within one year | 42/48 | €153,473 | €101,554 | -€51,920 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €42,136 | €43,844 | +€1,708 | +4.1% |
| Financial debts | 43 | €22,469 | €11,463 | -€11,006 | -49.0% |
| Credit institutions | 430/8 | €22,469 | €11,463 | -€11,006 | -49.0% |
| Trade debts | 44 | €11,575 | €6,638 | -€4,936 | -42.6% |
| Suppliers | 440/4 | €11,575 | €6,638 | -€4,936 | -42.6% |
| Taxes, remuneration and social security | 45 | €19,507 | €119 | -€19,388 | -99.4% |
| Taxes | 450/3 | €11,151 | €119 | -€11,032 | -98.9% |
| Remuneration and social security | 454/9 | €8,356 | - | -€8,356 | |
| Other amounts payable | 47/48 | €57,786 | €39,490 | -€18,297 | -31.7% |
| Accrued charges and deferred income | 492/3 | - | €4,326 | +€4,326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,859 | €77,018 | +€3,158 | +4.3% |
| Other operating charges | 640/8 | €67,222 | €59,050 | -€8,173 | -12.2% |
| Gross operating margin | 9900 | €238,757 | €223,512 | -€15,245 | -6.4% |
| Operating profit (loss) | 9901 | €97,675 | €87,444 | -€10,231 | -10.5% |
| Financial income | 75/76B | €2,967 | €3,707 | +€740 | +24.9% |
| Recurring financial income | 75 | €2,967 | €3,707 | +€740 | +24.9% |
| Financial charges | 65/66B | €11,783 | €10,110 | -€1,672 | -14.2% |
| Recurring financial charges | 65 | €11,783 | €10,110 | -€1,672 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €88,860 | €81,041 | -€7,819 | -8.8% |
| Income taxes | 67/77 | €34,097 | €34,119 | +€21 | +0.1% |
| Profit (loss) for the period | 9904 | €54,762 | €46,922 | -€7,840 | -14.3% |
| Transfer from tax-exempt reserves | 789 | €17,000 | €23,000 | +€6,000 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,762 | €69,922 | -€1,840 | -2.6% |
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 31 October 2026 via checked.be.