KVS Trans: 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.
KVS Trans
Largest movements
- Receivables within one year +€38,136
up €38,136 (+51.7%), from €73,733 to €111,869
of which Trade receivables: +€32,287
- Tangible fixed assets +€28,906
up €28,906 (+9.3%), from €312,356 to €341,261
of which Leasing and similar rights: +€35,700
- Cash -€7,923
down €7,923 (-20.8%), from €38,149 to €30,226
mainly Investment in fixed assets (net) (-€111,005) and Receivables within one year (-€38,136)
- Debts after one year +€31,699
up €31,699 (+15.9%), from €199,963 to €231,662
- Profit (loss) carried forward -€27,750
down €27,750 (-46.5%), from -€59,700 to -€87,450
- Trade debts +€18,425
up €18,425 (+75.6%), from €24,364 to €42,788
- Other debts +€13,582
up €13,582 (+11.0%), from €123,602 to €137,184
- Current portion of long-term debt +€12,234
up €12,234 (+20.1%), from €60,880 to €73,114
- Gross operating margin +€122,404
up €122,404 (+86.0%), from €142,397 to €264,801
- Staff costs +€69,892
up €69,892 (+130%), from €53,735 to €123,627
- Depreciation +€40,809
up €40,809 (+98.8%), from €41,291 to €82,100
- Other operating charges +€28,652
up €28,652 (+80.9%), from €35,432 to €64,085
- Financial charges +€12,422
up €12,422 (+120%), from €10,319 to €22,741
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 | €428,789 | €487,908 | +€59,119 | +13.8% |
| Fixed assets | 21/28 | €314,965 | €343,871 | +€28,906 | +9.2% |
| Tangible fixed assets | 22/27 | €312,356 | €341,261 | +€28,906 | +9.3% |
| Furniture and vehicles | 24 | €11,968 | €11,443 | -€525 | -4.4% |
| Leasing and similar rights | 25 | €294,118 | €329,818 | +€35,700 | +12.1% |
| Assets under construction and advance payments | 27 | €6,269 | - | -€6,269 | |
| Financial fixed assets | 28 | €2,610 | €2,610 | = | 0.0% |
| Current assets | 29/58 | €113,823 | €144,037 | +€30,213 | +26.5% |
| Amounts receivable within one year | 40/41 | €73,733 | €111,869 | +€38,136 | +51.7% |
| Trade receivables | 40 | €69,957 | €102,244 | +€32,287 | +46.2% |
| Other amounts receivable | 41 | €3,776 | €9,625 | +€5,849 | +155% |
| Cash at bank and in hand | 54/58 | €38,149 | €30,226 | -€7,923 | -20.8% |
| Deferred charges and accrued income | 490/1 | €1,942 | €1,942 | = | 0.0% |
| Total equity and liabilities | 10/49 | €428,789 | €487,908 | +€59,119 | +13.8% |
| Equity | 10/15 | €3,203 | -€24,547 | -€27,750 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,303 | €44,303 | = | 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% |
| Distributable reserves | 133 | €42,443 | €42,443 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,700 | -€87,450 | -€27,750 | -46.5% |
| Amounts payable | 17/49 | €425,585 | €512,455 | +€86,869 | +20.4% |
| Amounts payable after more than one year | 17 | €199,963 | €231,662 | +€31,699 | +15.9% |
| Financial debts | 170/4 | €199,963 | €231,662 | +€31,699 | +15.9% |
| Amounts payable within one year | 42/48 | €225,622 | €280,793 | +€55,170 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €60,880 | €73,114 | +€12,234 | +20.1% |
| Financial debts | 43 | €1,203 | €1,085 | -€117 | -9.8% |
| Credit institutions | 430/8 | €1,203 | €1,085 | -€117 | -9.8% |
| Trade debts | 44 | €24,364 | €42,788 | +€18,425 | +75.6% |
| Suppliers | 440/4 | €24,364 | €42,788 | +€18,425 | +75.6% |
| Taxes, remuneration and social security | 45 | €15,575 | €26,621 | +€11,046 | +70.9% |
| Taxes | 450/3 | €9,911 | €12,043 | +€2,132 | +21.5% |
| Remuneration and social security | 454/9 | €5,664 | €14,578 | +€8,914 | +157% |
| Other amounts payable | 47/48 | €123,602 | €137,184 | +€13,582 | +11.0% |
| Remuneration, social security and pensions | 62 | €53,735 | €123,627 | +€69,892 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,291 | €82,100 | +€40,809 | +98.8% |
| Other operating charges | 640/8 | €35,432 | €64,085 | +€28,652 | +80.9% |
| Gross operating margin | 9900 | €142,397 | €264,801 | +€122,404 | +86.0% |
| Operating profit (loss) | 9901 | €11,938 | -€5,011 | -€16,949 | |
| Financial income | 75/76B | €60 | €1 | -€59 | -98.6% |
| Recurring financial income | 75 | €60 | €1 | -€59 | -98.6% |
| Financial charges | 65/66B | €10,319 | €22,741 | +€12,422 | +120% |
| Recurring financial charges | 65 | €10,319 | €22,741 | +€12,422 | +120% |
| Profit (loss) for the period before taxes | 9903 | €1,680 | -€27,750 | -€29,430 | |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | €1,678 | -€27,750 | -€29,428 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,678 | -€27,750 | -€29,428 |
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 17 October 2026 via checked.be.