KSL & Warehousing: what changed
What changed
KSL & Warehousing
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
€26,294
2024 · €78,791-€52,498
Equity
€275,585
2024 · €249,292+€26,294
Cash
€491,977
2024 · €306,299+€185,678
Balance sheet total
€922,760
2024 · €818,876+€103,885
Largest movements
Assets
- Cash +€185,678
up €185,678 (+60.6%), from €306,299 to €491,977
mainly Receivables within one year (+€83,269) and Trade debts (+€50,657)
- Receivables within one year -€83,269
down €83,269 (-21.7%), from €383,643 to €300,374
of which Trade receivables: -€84,761
Equity and liabilities
- Trade debts +€50,657
up €50,657 (+29.2%), from €173,262 to €223,919
- Accrued charges and deferred income +€31,299
up €31,299 (+14.0%), from €224,017 to €255,316
- Profit (loss) carried forward +€26,294
up €26,294 (+11.5%), from €228,832 to €255,125
Income statement
- Gross operating margin -€78,708
down €78,708 (-38.6%), from €203,823 to €125,115
- Taxes -€21,299
down €21,299 (-69.5%), from €30,637 to €9,338
- Staff costs +€3,617
up €3,617 (+4.9%), from €74,077 to €77,694
- Depreciation -€3,131
down €3,131 (-40.8%), from €7,669 to €4,538
- Financial charges -€3,048
down €3,048 (-52.1%), from €5,846 to €2,798
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€78,791
Gross operating margin
-€78,708
Staff costs
-€3,617
Depreciation
+€3,131
Other operating charges
+€2,543
Financial income
-€193
Financial charges
+€3,048
Taxes
+€21,299
Result 2025
€26,294
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€187,745
Investment
-€6,324
Financing
+€4,257
Cash 2024
€306,299
From operations (derived)
+€187,745
Net result for the year
+€26,294
Depreciation
+€4,538
Receivables within one year
+€83,269
Deferred charges and accrued income
+€311
Trade debts
+€50,657
Tax, wage and social debts
-€2,959
Other debts
-€5,664
Accrued charges and deferred income
+€31,299
Investment (derived)
-€6,324
Investment in fixed assets (net)
-€6,324
Financing
+€4,257
Debts after one year
+€4,257
Cash 2025
€491,977
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €818,876 | €922,760 | +€103,885 | +12.7% |
| Fixed assets | 21/28 | €125,077 | €126,862 | +€1,786 | +1.4% |
| Tangible fixed assets | 22/27 | €16,207 | €17,992 | +€1,786 | +11.0% |
| Plant, machinery and equipment | 23 | €2,105 | €2,761 | +€656 | +31.2% |
| Furniture and vehicles | 24 | €746 | - | -€746 | |
| Other tangible fixed assets | 26 | €13,356 | €15,232 | +€1,876 | +14.0% |
| Financial fixed assets | 28 | €108,870 | €108,870 | = | 0.0% |
| Current assets | 29/58 | €693,799 | €795,898 | +€102,099 | +14.7% |
| Amounts receivable within one year | 40/41 | €383,643 | €300,374 | -€83,269 | -21.7% |
| Trade receivables | 40 | €372,557 | €287,796 | -€84,761 | -22.8% |
| Other amounts receivable | 41 | €11,086 | €12,578 | +€1,492 | +13.5% |
| Cash at bank and in hand | 54/58 | €306,299 | €491,977 | +€185,678 | +60.6% |
| Deferred charges and accrued income | 490/1 | €3,858 | €3,547 | -€311 | -8.1% |
| Total equity and liabilities | 10/49 | €818,876 | €922,760 | +€103,885 | +12.7% |
| Equity | 10/15 | €249,292 | €275,585 | +€26,294 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,832 | €255,125 | +€26,294 | +11.5% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €564,584 | €642,175 | +€77,591 | +13.7% |
| Amounts payable after more than one year | 17 | €104,090 | €108,347 | +€4,257 | +4.1% |
| Other amounts payable | 178/9 | €104,090 | €108,347 | +€4,257 | +4.1% |
| Amounts payable within one year | 42/48 | €236,477 | €278,512 | +€42,035 | +17.8% |
| Trade debts | 44 | €173,262 | €223,919 | +€50,657 | +29.2% |
| Suppliers | 440/4 | €173,262 | €223,919 | +€50,657 | +29.2% |
| Taxes, remuneration and social security | 45 | €26,370 | €23,411 | -€2,959 | -11.2% |
| Taxes | 450/3 | €13,555 | €9,338 | -€4,217 | -31.1% |
| Remuneration and social security | 454/9 | €12,815 | €14,073 | +€1,259 | +9.8% |
| Other amounts payable | 47/48 | €36,846 | €31,182 | -€5,664 | -15.4% |
| Accrued charges and deferred income | 492/3 | €224,017 | €255,316 | +€31,299 | +14.0% |
| Remuneration, social security and pensions | 62 | €74,077 | €77,694 | +€3,617 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,669 | €4,538 | -€3,131 | -40.8% |
| Other operating charges | 640/8 | €6,996 | €4,453 | -€2,543 | -36.3% |
| Gross operating margin | 9900 | €203,823 | €125,115 | -€78,708 | -38.6% |
| Operating profit (loss) | 9901 | €115,081 | €38,429 | -€76,652 | -66.6% |
| Financial income | 75/76B | €194 | €0 | -€193 | -99.8% |
| Recurring financial income | 75 | €194 | €0 | -€193 | -99.8% |
| Financial charges | 65/66B | €5,846 | €2,798 | -€3,048 | -52.1% |
| Recurring financial charges | 65 | €5,846 | €2,798 | -€3,048 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | €109,428 | €35,631 | -€73,797 | -67.4% |
| Income taxes | 67/77 | €30,637 | €9,338 | -€21,299 | -69.5% |
| Profit (loss) for the period | 9904 | €78,791 | €26,294 | -€52,498 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €78,791 | €26,294 | -€52,498 | -66.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.