From Logistics
ActiveSummary
From Logistics has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8,683 and a net result of €68,244. Equity is shrinking by ~49.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 1885 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-11
Solvency26▲+14
Growth58=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1.1%
Return on assets
8.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1885 sector peers (2025).
NBB · sector comparisonPosition among 1885 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
57 d late
2023
5 d early
2022
3 d early
2021
30 d early
2020
22 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€68,244▼ 9.8%
2024 · €75,621
Working capital
-€183,728▲ 7.1%
2024 · -€197,806
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€28,531▲ 50.4%-€27,661▲ 3.0%-€151,439▼ 447%€79,330€84,032▲ 5.9%
Net result-€42,149below the sector's middle half▲ 40.3%-€38,275below the sector's middle half▲ 9.2%-€158,580below the sector's middle half▼ 314%€75,621within the sector's middle half€68,244within the sector's middle half▼ 9.8%
Equity€67,848within the sector's middle half▼ 38.3%€29,572below the sector's middle half▼ 56.4%-€135,182below the sector's middle half-€59,561below the sector's middle half▲ 55.9%€8,683below the sector's middle half
Total assets€1.0mwithin the sector's middle half▼ 15.5%€958,914within the sector's middle half▼ 5.2%€662,697within the sector's middle half▼ 30.9%€447,678below the sector's middle half▼ 32.4%€808,389within the sector's middle half▲ 80.6%
Debt€943,990▼ 13.2%€929,342▼ 1.6%€797,880▼ 14.1%€507,239▼ 36.4%€799,706▲ 57.7%
Working capital-€349,886below the sector's middle half▼ 39.2%-€405,875below the sector's middle half▼ 16.0%-€459,574below the sector's middle half▼ 13.2%-€197,806below the sector's middle half▲ 57.0%-€183,728below the sector's middle half▲ 7.1%
Solvency6.7%below the sector's middle half▼ 2.5pp3.1%below the sector's middle half▼ 3.6pp-20.4%below the sector's middle half▼ 23.5pp-13.3%below the sector's middle half▲ 7.1pp1.1%below the sector's middle half▲ 14.4pp
Current ratio0.44below the sector's middle half▼ 0.110.46below the sector's middle half▲ 0.030.38below the sector's middle half▼ 0.080.61below the sector's middle half▲ 0.230.57below the sector's middle half▼ 0.04
Return on assets (ROA)-4.2%below the sector's middle half▲ 1.7pp-4.0%below the sector's middle half▲ 0.2pp-23.9%below the sector's middle half▼ 19.9pp16.9%above the sector's middle half▲ 40.8pp8.4%within the sector's middle half▼ 8.4pp
Staff (FTE)8.3within the sector's middle half▲ 22.1%8.3within the sector's middle half=7.1within the sector's middle half▼ 14.5%6.9below the sector's middle half▼ 2.8%5.5within the sector's middle half▼ 20.3%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 6% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €808,389
Fixed assets
€560,451 ▲ 305%
Current assets
€247,938 ▼ 19.9%
Equity and liabilities €808,389
Equity
€8,683
Debt
€799,706
Debt finances 98.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€211,203▼
2024 · €234,683
Cash flow
€195,415▼
2024 · €230,974
Debt to equity
92.10▲
2024 · -8.52
ROE
785.9%
Interest coverage
13.38▼
2024 · 63.28
Debt ≤ 1 year
€431,665▼
2024 · €507,239
Debt > 1 year
€368,040
Staff costs
€368,558▼
2024 · €438,202
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,324 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
3.1%
stopped otherwise
95%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €494,746 | €551,004 | €507,796 | €438,202 | €368,558 | ▼ 15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €204,405 | €221,525 | €227,561 | €155,353 | €127,171 | ▼ 18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €950 | - | - |
| Other operating charges640/8 | €43,569 | €60,298 | €61,151 | €66,464 | €48,142 | ▼ 27.6% |
| Gross operating margin9900 | €714,189 | €805,166 | €645,069 | €740,299 | €627,903 | ▼ 15.2% |
| Operating profit (loss)9901 | -€28,531 | -€27,661 | -€151,439 | €79,330 | €84,032 | ▲ 5.9% |
| Financial income75/76B | €110 | €198 | - | - | - | - |
| Recurring financial income75 | €110 | €198 | - | - | - | - |
| Financial charges65/66B | €13,728 | €10,812 | €7,141 | €3,708 | €15,787 | ▲ 326% |
| Recurring financial charges65 | €13,728 | €10,812 | €7,141 | €3,708 | €15,787 | ▲ 326% |
| Profit (loss) for the period before taxes9903 | -€42,149 | -€38,275 | -€158,580 | €75,621 | €68,244 | ▼ 9.8% |
| Profit (loss) for the period9904 | -€42,149 | -€38,275 | -€158,580 | €75,621 | €68,244 | ▼ 9.8% |
| Profit (loss) for the period to be appropriated9905 | -€42,149 | -€38,275 | -€158,580 | €75,621 | €68,244 | ▼ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €958,914 | €662,697 | €447,678 | €808,389 | ▲ 80.6% |
| Fixed assets21/28 | €742,253 | €610,458 | €384,317 | €138,245 | €560,451 | ▲ 305% |
| Tangible fixed assets22/27 | €741,173 | €609,648 | €383,507 | €137,435 | €559,641 | ▲ 307% |
| Furniture and vehicles24 | €11,210 | €19,735 | €119,326 | €78,781 | €70,561 | ▼ 10.4% |
| Leasing and similar rights25 | €729,962 | €589,912 | €264,182 | €58,654 | €489,080 | ▲ 734% |
| Financial fixed assets28 | €1,080 | €810 | €810 | €810 | €810 | = |
| Current assets29/58 | €269,585 | €348,457 | €278,380 | €309,433 | €247,938 | ▼ 19.9% |
| Amounts receivable within one year40/41 | €216,430 | €319,679 | €249,322 | €276,373 | €205,428 | ▼ 25.7% |
| Trade receivables40 | €207,275 | €294,834 | €239,813 | €266,456 | €192,251 | ▼ 27.8% |
| Other amounts receivable41 | €9,155 | €24,846 | €9,509 | €9,917 | €13,177 | ▲ 32.9% |
| Current investments50/53 | - | - | - | €19,093 | €33,924 | ▲ 77.7% |
| Cash at bank and in hand54/58 | €16,908 | €2,010 | €10,727 | - | - | - |
| Deferred charges and accrued income490/1 | €36,246 | €26,767 | €18,331 | €13,967 | €8,586 | ▼ 38.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €958,914 | €662,697 | €447,678 | €808,389 | ▲ 80.6% |
| Equity10/15 | €67,848 | €29,572 | -€135,182 | -€59,561 | €8,683 | ▲ 115% |
| Contributions10/11 | €12,375 | €12,375 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €77,660 | €77,660 | €77,660 | €77,660 | €77,660 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €75,800 | €75,800 | €77,660 | €77,660 | €77,660 | = |
| Profit (loss) carried forward14 | -€22,187 | -€60,463 | -€219,042 | -€143,421 | -€75,177 | ▲ 47.6% |
| Amounts payable17/49 | €943,990 | €929,342 | €797,880 | €507,239 | €799,706 | ▲ 57.7% |
| Amounts payable after more than one year17 | €324,519 | €175,011 | €59,926 | - | €368,040 | - |
| Financial debts170/4 | €324,519 | €175,011 | €59,926 | - | €368,040 | - |
| Amounts payable within one year42/48 | €619,471 | €754,331 | €737,954 | €507,239 | €431,665 | ▼ 14.9% |
| Current portion of amounts payable after more than one year42 | €257,512 | €227,240 | €115,081 | €22,077 | €105,973 | ▲ 380% |
| Financial debts43 | - | €12,691 | €12,872 | €12,889 | €12,805 | ▼ 0.7% |
| Credit institutions430/8 | - | €12,691 | €12,872 | €12,889 | €12,805 | ▼ 0.7% |
| Trade debts44 | €81,209 | €99,093 | €189,055 | €75,874 | €74,264 | ▼ 2.1% |
| Suppliers440/4 | €81,209 | €99,093 | €189,055 | €75,874 | €74,264 | ▼ 2.1% |
| Taxes, remuneration and social security45 | €65,751 | €70,306 | €90,946 | €49,221 | €46,446 | ▼ 5.6% |
| Taxes450/3 | €15,305 | €4,742 | €21,232 | €2,479 | €3,297 | ▲ 33.0% |
| Remuneration and social security454/9 | €50,445 | €65,564 | €69,714 | €46,742 | €43,149 | ▼ 7.7% |
| Other amounts payable47/48 | €215,000 | €345,000 | €330,000 | €347,177 | €192,177 | ▼ 44.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€42,149 | -€38,275 | -€158,580 | €75,621 | €68,244 | ▼ 9.8% |
| + Depreciation and write-downs630 | €204,405 | €221,525 | €227,561 | €155,353 | €127,171 | ▼ 18.1% |
| Operating cash flow (approximation) | €162,256 | €183,250 | €68,981 | €230,974 | €195,415 | ▼ 15.4% |
| Investment in fixed assets (approximation) | - | -€89,730 | -€1,420 | €90,720 | -€549,378 | ▼ 706% |
| Change in cash | - | -€14,899 | €8,717 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 57 days late
2024
31-12
Financial
Back to profitnet €75,621
Net result €75,621 after 4 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€158,580
Net result drops to -€158,580, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €89,664 ▲72.7%
Operating result €100,055, net result €89,664, both a record.
31-12
Financial
Equity above €150,000Eq €180,550 ▲98.7%
2 profitable years in a row build equity to €180,550.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tubize · 1 establishment unit since 2016
Ground area
1,894 m²
Parcel 25097C0582/00G000, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
From logistics
since 20162.252.265.863
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25097C0582/00G000 | Wallonia | 1,894 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTubize2.252.265.863
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,203. 3,670 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-04-2016
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0651700636
Also
9925:BE0651700636
Registered
22-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.