KDN Trans: what changed
Two fiscal 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
KDN Trans
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4,933
2024 · €183-€5,116
Equity
€601,657
2024 · €606,591-€4,933
Cash
€227
2024 · €17,543-€17,316
Balance sheet total
€2.1m
2024 · €2.3m-€172,479
Largest movements
Assets
- Tangible fixed assets -€130,844
down €130,844 (-7.1%), from €1.8m to €1.7m
of which Furniture and vehicles: -€84,600
- Receivables within one year -€34,627
down €34,627 (-44.9%), from €77,134 to €42,507
of which Trade receivables: -€39,098
- Stocks and contracts +€30,000
up €30,000 (+73.2%), from €41,000 to €71,000
Equity and liabilities
- Debts after one year -€163,535
down €163,535 (-12.2%), from €1.3m to €1.2m
- Other debts +€33,751
up €33,751 (+3729.9%), from €905 to €34,656
- Trade debts -€31,274
down €31,274 (-41.1%), from €76,137 to €44,863
Income statement
- Staff costs +€27,508
up €27,508 (+10.5%), from €262,934 to €290,442
- Gross operating margin +€18,053
up €18,053 (+4.5%), from €404,536 to €422,589
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
€183
Gross operating margin
+€18,053
Staff costs
-€27,508
Depreciation
+€455
Other operating charges
+€2,434
Other operating items
-€3,515
Financial income
+€25
Financial charges
+€4,028
Taxes
-€504
Deferred taxes and other
+€1,416
Result 2025
-€4,933
Cash bridge derived
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
+€105,162
Investment
+€33,861
Financing
-€156,339
Cash 2024
€17,543
From operations (derived)
+€105,162
Net result for the year
-€4,933
Depreciation
+€96,983
Receivables after one year
-€2,706
Stocks and contracts
-€30,000
Receivables within one year
+€34,627
Deferred charges and accrued income
+€22,397
Provisions
-€2,096
Trade debts
-€31,274
Tax, wage and social debts
-€11,588
Other debts
+€33,751
Investment (derived)
+€33,861
Investment in fixed assets (net)
+€33,861
Financing
-€156,339
Debts after one year
-€163,535
Current portion of long-term debt
-€8,663
Short-term financial debts
+€15,859
Cash 2025
€227
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,273,778 | €2,101,300 | -€172,479 | -7.6% |
| Fixed assets | 21/28 | €1,835,292 | €1,704,448 | -€130,844 | -7.1% |
| Tangible fixed assets | 22/27 | €1,835,292 | €1,704,448 | -€130,844 | -7.1% |
| Land and buildings | 22 | €1,498,368 | €1,451,760 | -€46,608 | -3.1% |
| Plant, machinery and equipment | 23 | €2,708 | €3,072 | +€365 | +13.5% |
| Furniture and vehicles | 24 | €334,216 | €249,616 | -€84,600 | -25.3% |
| Current assets | 29/58 | €438,486 | €396,851 | -€41,635 | -9.5% |
| Amounts receivable after more than one year | 29 | €270,557 | €273,263 | +€2,706 | +1.0% |
| Other amounts receivable | 291 | €270,557 | €273,263 | +€2,706 | +1.0% |
| Stocks and contracts in progress | 3 | €41,000 | €71,000 | +€30,000 | +73.2% |
| Stocks | 30/36 | €41,000 | €71,000 | +€30,000 | +73.2% |
| Amounts receivable within one year | 40/41 | €77,134 | €42,507 | -€34,627 | -44.9% |
| Trade receivables | 40 | €71,404 | €32,306 | -€39,098 | -54.8% |
| Other amounts receivable | 41 | €5,730 | €10,200 | +€4,471 | +78.0% |
| Cash at bank and in hand | 54/58 | €17,543 | €227 | -€17,316 | -98.7% |
| Deferred charges and accrued income | 490/1 | €32,252 | €9,855 | -€22,397 | -69.4% |
| Total equity and liabilities | 10/49 | €2,273,778 | €2,101,300 | -€172,479 | -7.6% |
| Equity | 10/15 | €606,591 | €601,657 | -€4,933 | -0.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €593,390 | €585,007 | -€8,384 | -1.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,065 | €7,681 | -€8,384 | -52.2% |
| Distributable reserves | 133 | €575,465 | €575,465 | = | 0.0% |
| Profit (loss) carried forward | 14 | €801 | €4,251 | +€3,450 | +431.0% |
| Provisions and deferred taxes | 16 | €2,096 | €0 | -€2,096 | -100.0% |
| Deferred taxes | 168 | €2,096 | €0 | -€2,096 | -100.0% |
| Amounts payable | 17/49 | €1,665,092 | €1,499,642 | -€165,450 | -9.9% |
| Amounts payable after more than one year | 17 | €1,340,568 | €1,177,033 | -€163,535 | -12.2% |
| Financial debts | 170/4 | €1,340,568 | €1,177,033 | -€163,535 | -12.2% |
| Amounts payable within one year | 42/48 | €324,524 | €322,609 | -€1,915 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €172,198 | €163,535 | -€8,663 | -5.0% |
| Financial debts | 43 | - | €15,859 | +€15,859 | |
| Credit institutions | 430/8 | - | €15,859 | +€15,859 | |
| Trade debts | 44 | €76,137 | €44,863 | -€31,274 | -41.1% |
| Suppliers | 440/4 | €76,137 | €44,863 | -€31,274 | -41.1% |
| Taxes, remuneration and social security | 45 | €75,285 | €63,696 | -€11,588 | -15.4% |
| Taxes | 450/3 | €42,164 | €32,597 | -€9,567 | -22.7% |
| Remuneration and social security | 454/9 | €33,121 | €31,099 | -€2,022 | -6.1% |
| Other amounts payable | 47/48 | €905 | €34,656 | +€33,751 | +3729.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €262,934 | €290,442 | +€27,508 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,438 | €96,983 | -€455 | -0.5% |
| Other operating charges | 640/8 | €13,081 | €10,647 | -€2,434 | -18.6% |
| Non-recurring operating charges | 66A | €8,163 | €11,678 | +€3,515 | +43.1% |
| Gross operating margin | 9900 | €404,536 | €422,589 | +€18,053 | +4.5% |
| Operating profit (loss) | 9901 | €22,920 | €12,839 | -€10,081 | -44.0% |
| Financial income | 75/76B | €2,709 | €2,733 | +€25 | +0.9% |
| Recurring financial income | 75 | €2,709 | €2,733 | +€25 | +0.9% |
| Financial charges | 65/66B | €25,875 | €21,848 | -€4,028 | -15.6% |
| Recurring financial charges | 65 | €25,875 | €21,848 | -€4,028 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | -€247 | -€6,275 | -€6,029 | -2444.4% |
| Transfer from deferred taxes | 780 | €680 | €2,096 | +€1,416 | +208.2% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €250 | €754 | +€504 | +201.3% |
| Profit (loss) for the period | 9904 | €183 | -€4,933 | -€5,116 | |
| Transfer from tax-exempt reserves | 789 | €2,720 | €8,384 | +€5,664 | +208.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €2,903 | €3,450 | +€547 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.