KHISIA: 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.
What changed
KHISIA
NACE 77.110, Renting and leasing of cars and light motor vehicles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,188
2024 · €393,617-€242,430
Equity
€1.1m
2024 · €989,576+€151,188
Cash
€60,145
2024 · €106,393-€46,248
Balance sheet total
€3.2m
2024 · €3.0m+€186,645
Largest movements
Assets
- Stocks and contracts +€468,436
up €468,436 (+104%), from €451,720 to €920,156
- Tangible fixed assets -€164,781
down €164,781 (-7.9%), from €2.1m to €1.9m
of which Furniture and vehicles: -€100,302
- Receivables within one year -€70,037
down €70,037 (-28.1%), from €249,657 to €179,620
of which Trade receivables: -€60,324
- Cash -€46,248
down €46,248 (-43.5%), from €106,393 to €60,145
mainly Stocks and contracts (-€468,436) and Investment in fixed assets (net) (-€141,904)
Equity and liabilities
- Reserves +€151,188
up €151,188 (+15.6%), from €970,976 to €1.1m
of which Distributable reserves: +€159,597
Income statement
- Gross operating margin -€323,271
down €323,271 (-31.7%), from €1.0m to €696,886
- Depreciation +€50,209
up €50,209 (+19.6%), from €256,476 to €306,685
- Taxes +€34,909
up €34,909 (+179%), from €19,554 to €54,464
- Other operating charges -€24,313
down €24,313 (-28.5%), from €85,354 to €61,041
- Staff costs -€21,492
down €21,492 (-32.8%), from €65,578 to €44,085
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.
Result 2024
€393,617
Gross operating margin
-€323,271
Staff costs
+€21,492
Depreciation
-€50,209
Other operating charges
+€24,313
Other operating items
+€28,560
Financial income
+€1,029
Financial charges
-€20,185
Taxes
-€34,909
Deferred taxes and other
+€110,750
Result 2025
€151,188
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€40,700
Investment
-€141,904
Financing
+€54,956
Cash 2024
€106,393
From operations (derived)
+€40,700
Net result for the year
+€151,188
Depreciation
+€306,685
Receivables after one year
+€12,000
Stocks and contracts
-€468,436
Receivables within one year
+€70,037
Deferred charges and accrued income
-€11,275
Provisions
-€2,803
Trade debts
-€9,185
Tax, wage and social debts
-€2,011
Advances received
-€5,500
Investment (derived)
-€141,904
Investment in fixed assets (net)
-€141,904
Financing
+€54,956
Debts after one year
+€25,106
Current portion of long-term debt
+€7,191
Short-term financial debts
+€22,659
Cash 2025
€60,145
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,973,821 | €3,160,466 | +€186,645 | +6.3% |
| Fixed assets | 21/28 | €2,099,537 | €1,934,756 | -€164,781 | -7.8% |
| Tangible fixed assets | 22/27 | €2,099,037 | €1,934,256 | -€164,781 | -7.9% |
| Land and buildings | 22 | €1,452,669 | €1,393,961 | -€58,708 | -4.0% |
| Plant, machinery and equipment | 23 | €35,430 | €29,659 | -€5,771 | -16.3% |
| Furniture and vehicles | 24 | €610,938 | €510,636 | -€100,302 | -16.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €874,284 | €1,225,710 | +€351,426 | +40.2% |
| Amounts receivable after more than one year | 29 | €12,000 | - | -€12,000 | |
| Trade receivables | 290 | €12,000 | - | -€12,000 | |
| Stocks and contracts in progress | 3 | €451,720 | €920,156 | +€468,436 | +104% |
| Stocks | 30/36 | €451,720 | €920,156 | +€468,436 | +104% |
| Amounts receivable within one year | 40/41 | €249,657 | €179,620 | -€70,037 | -28.1% |
| Trade receivables | 40 | €230,760 | €170,436 | -€60,324 | -26.1% |
| Other amounts receivable | 41 | €18,897 | €9,185 | -€9,713 | -51.4% |
| Cash at bank and in hand | 54/58 | €106,393 | €60,145 | -€46,248 | -43.5% |
| Deferred charges and accrued income | 490/1 | €54,514 | €65,789 | +€11,275 | +20.7% |
| Total equity and liabilities | 10/49 | €2,973,821 | €3,160,466 | +€186,645 | +6.3% |
| Equity | 10/15 | €989,576 | €1,140,764 | +€151,188 | +15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €970,976 | €1,122,164 | +€151,188 | +15.6% |
| Tax-exempt reserves | 132 | €323,841 | €315,431 | -€8,409 | -2.6% |
| Distributable reserves | 133 | €647,135 | €806,733 | +€159,597 | +24.7% |
| Provisions and deferred taxes | 16 | €107,947 | €105,144 | -€2,803 | -2.6% |
| Deferred taxes | 168 | €107,947 | €105,144 | -€2,803 | -2.6% |
| Amounts payable | 17/49 | €1,876,298 | €1,914,559 | +€38,260 | +2.0% |
| Amounts payable after more than one year | 17 | €1,530,389 | €1,555,496 | +€25,106 | +1.6% |
| Financial debts | 170/4 | €1,522,199 | €1,547,306 | +€25,106 | +1.6% |
| Other amounts payable | 178/9 | €8,190 | €8,190 | = | 0.0% |
| Amounts payable within one year | 42/48 | €345,909 | €359,063 | +€13,154 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €228,629 | €235,820 | +€7,191 | +3.1% |
| Financial debts | 43 | €1,043 | €23,702 | +€22,659 | +2,173% |
| Other loans | 439 | €1,043 | €23,702 | +€22,659 | +2,173% |
| Trade debts | 44 | €92,244 | €83,060 | -€9,185 | -10.0% |
| Suppliers | 440/4 | €92,244 | €83,060 | -€9,185 | -10.0% |
| Advances received on contracts in progress | 46 | €5,500 | - | -€5,500 | |
| Taxes, remuneration and social security | 45 | €18,492 | €16,481 | -€2,011 | -10.9% |
| Taxes | 450/3 | €1,596 | €14,305 | +€12,709 | +796% |
| Remuneration and social security | 454/9 | €16,896 | €2,176 | -€14,720 | -87.1% |
| Non-recurring operating income | 76A | €584,786 | €132,526 | -€452,260 | -77.3% |
| Remuneration, social security and pensions | 62 | €65,578 | €44,085 | -€21,492 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,476 | €306,685 | +€50,209 | +19.6% |
| Other operating charges | 640/8 | €85,354 | €61,041 | -€24,313 | -28.5% |
| Non-recurring operating charges | 66A | €29,500 | €940 | -€28,560 | -96.8% |
| Gross operating margin | 9900 | €1,020,157 | €696,886 | -€323,271 | -31.7% |
| Operating profit (loss) | 9901 | €583,249 | €284,135 | -€299,114 | -51.3% |
| Financial income | 75/76B | €30 | €1,060 | +€1,029 | +3,380% |
| Recurring financial income | 75 | €30 | €1,060 | +€1,029 | +3,380% |
| Financial charges | 65/66B | €62,161 | €82,346 | +€20,185 | +32.5% |
| Recurring financial charges | 65 | €62,161 | €73,730 | +€11,569 | +18.6% |
| Non-recurring financial charges | 66B | - | €8,616 | +€8,616 | |
| Profit (loss) for the period before taxes | 9903 | €521,119 | €202,849 | -€318,270 | -61.1% |
| Transfer from deferred taxes | 780 | €2,803 | €2,803 | = | 0.0% |
| Transfer to deferred taxes | 680 | €110,750 | - | -€110,750 | |
| Income taxes | 67/77 | €19,554 | €54,464 | +€34,909 | +179% |
| Profit (loss) for the period | 9904 | €393,617 | €151,188 | -€242,430 | -61.6% |
| Transfer from tax-exempt reserves | 789 | €8,409 | €8,409 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €332,250 | - | -€332,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €69,777 | €159,597 | +€89,820 | +129% |
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 19 October 2026 via checked.be.