NEW KGL EXPRESS: 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.
NEW KGL EXPRESS
Largest movements
- Receivables after one year +€182,794
new in 2025: €182,794
- Receivables within one year -€114,601
down €114,601 (-39.1%), from €292,840 to €178,239
of which Other amounts receivable: -€161,737
- Tax, wage and social debts +€112,329
up €112,329 (+195%), from €57,642 to €169,970
of which Taxes: +€112,229
- Profit (loss) carried forward -€45,191
down €45,191 (-20.3%), from €222,846 to €177,655
- Trade debts +€10,230
new in 2025: €10,230
- Other debts -€9,600
no longer reported in 2025 (was €9,600)
- Gross operating margin -€185,700
down €185,700, from €175,626 to -€10,074
- Taxes -€44,217
down €44,217 (-83.4%), from €53,037 to €8,820
- Other operating charges -€11,302
down €11,302 (-24.1%), from €46,887 to €35,585
- Financial income +€2,754
up €2,754 (+24.6%), from €11,211 to €13,966
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €303,124 | €368,850 | +€65,726 | +21.7% |
| Fixed assets | 21/28 | €5,135 | €2,669 | -€2,466 | -48.0% |
| Tangible fixed assets | 22/27 | €5,000 | €2,399 | -€2,601 | -52.0% |
| Plant, machinery and equipment | 23 | €757 | €357 | -€400 | -52.8% |
| Furniture and vehicles | 24 | €4,242 | €2,041 | -€2,201 | -51.9% |
| Financial fixed assets | 28 | €135 | €270 | +€135 | +100% |
| Current assets | 29/58 | €297,989 | €366,182 | +€68,193 | +22.9% |
| Amounts receivable after more than one year | 29 | - | €182,794 | +€182,794 | |
| Other amounts receivable | 291 | - | €182,794 | +€182,794 | |
| Amounts receivable within one year | 40/41 | €292,840 | €178,239 | -€114,601 | -39.1% |
| Trade receivables | 40 | €5,734 | €52,870 | +€47,136 | +822% |
| Other amounts receivable | 41 | €287,106 | €125,369 | -€161,737 | -56.3% |
| Deferred charges and accrued income | 490/1 | €5,149 | €5,149 | = | 0.0% |
| Total equity and liabilities | 10/49 | €303,124 | €368,850 | +€65,726 | +21.7% |
| Equity | 10/15 | €230,906 | €185,715 | -€45,191 | -19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 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 | €222,846 | €177,655 | -€45,191 | -20.3% |
| Amounts payable | 17/49 | €72,218 | €183,135 | +€110,917 | +154% |
| Amounts payable within one year | 42/48 | €72,218 | €183,135 | +€110,917 | +154% |
| Financial debts | 43 | €4,976 | €2,935 | -€2,041 | -41.0% |
| Credit institutions | 430/8 | €4,976 | €2,935 | -€2,041 | -41.0% |
| Trade debts | 44 | - | €10,230 | +€10,230 | |
| Suppliers | 440/4 | - | €10,230 | +€10,230 | |
| Taxes, remuneration and social security | 45 | €57,642 | €169,970 | +€112,329 | +195% |
| Taxes | 450/3 | €57,642 | €169,870 | +€112,229 | +195% |
| Remuneration and social security | 454/9 | - | €100 | +€100 | |
| Other amounts payable | 47/48 | €9,600 | - | -€9,600 | |
| Non-recurring operating income | 76A | €13,480 | €11,529 | -€1,951 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,467 | €2,601 | +€134 | +5.4% |
| Other operating charges | 640/8 | €46,887 | €35,585 | -€11,302 | -24.1% |
| Gross operating margin | 9900 | €175,626 | -€10,074 | -€185,700 | |
| Operating profit (loss) | 9901 | €126,271 | -€48,261 | -€174,532 | |
| Financial income | 75/76B | €11,211 | €13,966 | +€2,754 | +24.6% |
| Recurring financial income | 75 | €11,211 | €13,966 | +€2,754 | +24.6% |
| Financial charges | 65/66B | €2,898 | €2,076 | -€822 | -28.4% |
| Recurring financial charges | 65 | €2,898 | €2,076 | -€822 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €134,585 | -€36,371 | -€170,956 | |
| Income taxes | 67/77 | €53,037 | €8,820 | -€44,217 | -83.4% |
| Profit (loss) for the period | 9904 | €81,548 | -€45,191 | -€126,739 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,548 | -€45,191 | -€126,739 |
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 26 October 2026 via checked.be.