LOGISTICA
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 34 filings
Turnover
≈ €440,000
Estimated: probably between €380,000 and €530,000
Total assets
€250,031▼ 0.9%
2024 · €252,224
Net result
€1,112▼ 93.4%
2024 · €16,733
Working capital
€102,585▼ 9.0%
2024 · €112,785
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,528
▼ 79.5%
2025
20182025
Net result
€1,112
▼ 93.4%
2025
lowest quarter of the sector
20182025
Equity
€124,301
▲ 0.9%
2025
middle half of the sector
20182025
Total assets
€250,031
▼ 0.9%
2025
lowest quarter of the sector
20182025
Debt
€125,730
▼ 2.6%
2025
20182025
Working capital
€102,585
▼ 9.0%
2025
middle half of the sector
20182025
Solvency
49.7%
▲ 0.9pp
2025
middle half of the sector
20182025
Current ratio
1.82
▼ 0.06
2025
middle half of the sector
20182025
Return on assets (ROA)
0.4%
▼ 6.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
4.9
▼ 3.9%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,097-€16,872▼ 42.0%€4,654▼ 72.4%€8,782▲ 88.7%€27,459▲ 213%€47,185▲ 71.8%€26,910▼ 43.0%€5,528▼ 79.5%
Net result€21,235-€10,764▼ 49.3%€162below the sector's middle half▼ 98.5%€2,971below the sector's middle half▲ 18×€17,460within the sector's middle half▲ 488%€29,718within the sector's middle half▲ 70.2%€16,733within the sector's middle half▼ 43.7%€1,112below the sector's middle half▼ 93.4%
Equity€126,798-€127,653▲ 0.7%€115,316within the sector's middle half▼ 9.7%€118,287within the sector's middle half▲ 2.6%€118,747within the sector's middle half▲ 0.4%€120,455within the sector's middle half▲ 1.4%€123,190within the sector's middle half▲ 2.3%€124,301within the sector's middle half▲ 0.9%
Total assets€223,813-€234,280▲ 4.7%€253,458within the sector's middle half▲ 8.2%€288,061within the sector's middle half▲ 13.7%€264,395within the sector's middle half▼ 8.2%€273,151within the sector's middle half▲ 3.3%€252,224within the sector's middle half▼ 7.7%€250,031below the sector's middle half▼ 0.9%
Debt€97,015-€106,626▲ 9.9%€138,143▲ 29.6%€169,774▲ 22.9%€145,648▼ 14.2%€152,697▲ 4.8%€129,034▼ 15.5%€125,730▼ 2.6%
Working capital€111,874-€98,638▼ 11.8%€106,843within the sector's middle half▲ 8.3%€108,141within the sector's middle half▲ 1.2%€106,720within the sector's middle half▼ 1.3%€111,156within the sector's middle half▲ 4.2%€112,785within the sector's middle half▲ 1.5%€102,585within the sector's middle half▼ 9.0%
Solvency56.7%-54.5%▼ 2.2pp45.5%within the sector's middle half▼ 9.0pp41.1%within the sector's middle half▼ 4.4pp44.9%within the sector's middle half▲ 3.8pp44.1%within the sector's middle half▼ 0.8pp48.8%within the sector's middle half▲ 4.7pp49.7%within the sector's middle half▲ 0.9pp
Current ratio2.15-1.93▼ 0.231.83within the sector's middle half▼ 0.101.64within the sector's middle half▼ 0.181.73within the sector's middle half▲ 0.091.73within the sector's middle half=1.87within the sector's middle half▲ 0.151.82within the sector's middle half▼ 0.06
Return on assets (ROA)9.5%-4.6%▼ 4.9pp0.1%below the sector's middle half▼ 4.5pp1.0%below the sector's middle half▲ 1.0pp6.6%within the sector's middle half▲ 5.6pp10.9%within the sector's middle half▲ 4.3pp6.6%within the sector's middle half▼ 4.2pp0.4%below the sector's middle half▼ 6.2pp
Staff (FTE)3.1-3.3▲ 6.5%3.5above the sector's middle half▲ 6.1%4.1▲ 17.1%4.7▲ 14.6%4.7=5.1▲ 8.5%4.9within the sector's middle half▼ 3.9%
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 79% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €250,031
Fixed assets
€22,216 ▲ 112%
Current assets
€227,815 ▼ 5.8%
Equity and liabilities €250,031
Equity
€124,301 ▲ 0.9%
Debt
€125,730 ▼ 2.6%
Debt's share of the balance-sheet total falls from 51.2% to 50.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12,143▼
2024 · €29,250
Cash flow
€7,726▼
2024 · €19,073
Quick ratio
1.81▼
2024 · 1.87
Debt to equity
1.01▼
2024 · 1.05
ROE
0.9%▼
2024 · 13.6%
Interest coverage
5.62▼
2024 · 8.51
Debt ≤ 1 year
€125,230▼
2024 · €128,952
Income taxes
€3,137▼
2024 · €7,367
Staff costs
€221,822▲
2024 · €178,784
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 6 | 7 | 7 | 7 |
| full-time | 2 | 2 | 3 | 3 | 3 |
| part-time | 3 | 4 | 4 | 4 | 4 |
| in full-time equivalents | 3.6 | 4.6 | 5.2 | 5.2 | 5.2 |
| Average over the year, in full-time equivalents | 4.1 | 4.7 | 4.7 | 5.1 | 4.9 |
| On a permanent contract | 5 | 4 | 5 | 6 | 6 |
| Joined | 1 | 3 | 3 | 7 | 2 |
| Left | 1 | 3 | 2 | 7 | 2 |
| Training hours | - | 32 | 26 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,232 | €3,126 | - | €3,528 | €18,344 |
| Depreciation and write-downs of the year | €9,613 | €2,934 | €2,729 | €2,340 | €6,615 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2 | - | - | €1,567 | - |
| Remuneration, social security and pensions62 | - | - | - | €156,363 | €169,456 | €170,538 | €178,784 | €221,822 | ▲ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,267 | €12,493 | €11,799 | €9,613 | €2,934 | €2,729 | €2,340 | €6,615 | ▲ 183% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | -€12,286 | - |
| Other operating charges640/8 | - | - | - | €7,429 | €7,262 | €8,502 | €8,725 | €28,461 | ▲ 226% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €14,190 | €4,355 | ▼ 69.3% |
| Gross operating margin9900 | €138,971 | €142,817 | €173,846 | €182,187 | €207,111 | €228,953 | €230,949 | €254,495 | ▲ 10.2% |
| Operating profit (loss)9901 | €29,097 | €16,872 | €4,654 | €8,782 | €27,459 | €47,185 | €26,910 | €5,528 | ▼ 79.5% |
| Financial income75/76B | - | - | - | €500 | €23 | €619 | €627 | €882 | ▲ 40.7% |
| Recurring financial income75 | €962 | €29 | €172 | €500 | €23 | €619 | €627 | €882 | ▲ 40.7% |
| Financial charges65/66B | - | - | - | €2,099 | €1,866 | €7,663 | €3,437 | €2,162 | ▼ 37.1% |
| Recurring financial charges65 | €1,968 | €1,925 | €2,030 | €2,098 | €1,866 | €7,663 | €3,437 | €2,162 | ▼ 37.1% |
| Non-recurring financial charges66B | - | - | - | €1 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €28,091 | €14,977 | €2,797 | €7,183 | €25,615 | €40,141 | €24,100 | €4,248 | ▼ 82.4% |
| Income taxes67/77 | €6,856 | €4,213 | €2,634 | €4,211 | €8,155 | €10,423 | €7,367 | €3,137 | ▼ 57.4% |
| Profit (loss) for the period9904 | €21,235 | €10,764 | €162 | €2,971 | €17,460 | €29,718 | €16,733 | €1,112 | ▼ 93.4% |
| Profit (loss) for the period to be appropriated9905 | €21,235 | €10,764 | €162 | €2,971 | €17,460 | €29,718 | €16,733 | €1,112 | ▼ 93.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €223,813 | €234,280 | €253,458 | €288,061 | €264,395 | €273,151 | €252,224 | €250,031 | ▼ 0.9% |
| Fixed assets21/28 | €14,924 | €29,015 | €17,217 | €11,835 | €12,027 | €9,298 | €10,487 | €22,216 | ▲ 112% |
| Tangible fixed assets22/27 | €9,924 | €24,015 | €12,217 | €6,835 | €7,027 | €4,298 | €5,487 | €17,216 | ▲ 214% |
| Plant, machinery and equipment23 | - | - | - | €2,521 | €3,738 | €2,006 | €4,078 | €4,754 | ▲ 16.6% |
| Furniture and vehicles24 | - | - | - | €2,002 | €1,630 | €965 | €413 | €11,799 | ▲ 29× |
| Other tangible fixed assets26 | - | - | - | €2,312 | €1,659 | €1,327 | €996 | €664 | ▼ 33.3% |
| Financial fixed assets28 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Current assets29/58 | €208,889 | €205,265 | €236,242 | €276,226 | €252,368 | €263,853 | €241,737 | €227,815 | ▼ 5.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €10,000 | €15,000 | - | - |
| Other amounts receivable291 | - | - | - | - | - | €10,000 | €15,000 | - | - |
| Stocks and contracts in progress3 | €628 | €620 | €620 | €620 | €620 | €620 | €620 | €620 | = |
| Stocks30/36 | - | - | - | €620 | €620 | €620 | €620 | €620 | = |
| Amounts receivable within one year40/41 | €147,357 | €140,583 | €173,353 | €208,114 | €200,716 | €158,465 | €160,173 | €174,840 | ▲ 9.2% |
| Trade receivables40 | - | - | - | €177,883 | €179,945 | €131,248 | €124,234 | €154,174 | ▲ 24.1% |
| Other amounts receivable41 | - | - | - | €30,231 | €20,771 | €27,217 | €35,939 | €20,666 | ▼ 42.5% |
| Current investments50/53 | - | - | - | - | - | €50,089 | €30,133 | €15,408 | ▼ 48.9% |
| Cash at bank and in hand54/58 | €60,786 | €62,843 | €60,499 | €65,708 | €49,362 | €41,703 | €30,236 | €29,058 | ▼ 3.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,784 | €1,670 | €2,977 | €5,575 | €7,889 | ▲ 41.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €223,813 | €234,280 | €253,458 | €288,061 | €264,395 | €273,151 | €252,224 | €250,031 | ▼ 0.9% |
| Equity10/15 | €126,798 | €127,653 | €115,316 | €118,287 | €118,747 | €120,455 | €123,190 | €124,301 | ▲ 0.9% |
| Contributions10/11 | €68,700 | €58,798 | €58,798 | €58,798 | €58,798 | €58,798 | €62,520 | €62,520 | = |
| Capital10 | - | - | - | €58,798 | €58,798 | - | - | - | - |
| Issued capital100 | - | - | - | €58,798 | €58,798 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €58,798 | €62,520 | €62,520 | = |
| Other1109/19 | - | - | - | - | - | €58,798 | €62,520 | €62,520 | = |
| Reserves13 | €3,720 | €3,720 | €3,720 | €3,720 | €3,720 | €3,720 | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €3,720 | €3,720 | €3,720 | - | - | - |
| Legal reserve130 | - | - | - | €3,720 | €3,720 | €3,720 | - | - | - |
| Profit (loss) carried forward14 | €54,378 | €65,135 | €52,798 | €55,769 | €56,229 | €57,937 | €60,670 | €61,781 | ▲ 1.8% |
| Amounts payable17/49 | €97,015 | €106,626 | €138,143 | €169,774 | €145,648 | €152,697 | €129,034 | €125,730 | ▼ 2.6% |
| Amounts payable after more than one year17 | - | - | €8,744 | €1,689 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €1,689 | - | - | - | - | - |
| Amounts payable within one year42/48 | €97,015 | €106,626 | €129,398 | €168,085 | €145,648 | €152,697 | €128,952 | €125,230 | ▼ 2.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €31,169 | €25,954 | €16,000 | - | - | - |
| Trade debts44 | €37,127 | €43,304 | €49,914 | €53,611 | €32,505 | €44,186 | €48,068 | €46,574 | ▼ 3.1% |
| Suppliers440/4 | - | - | - | €53,611 | €32,505 | €44,186 | €48,068 | €46,574 | ▼ 3.1% |
| Advances received on contracts in progress46 | - | - | - | €400 | €400 | €400 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €80,881 | €68,665 | €53,444 | €72,545 | €74,765 | ▲ 3.1% |
| Taxes450/3 | - | - | - | €48,456 | €40,150 | €32,567 | €45,216 | €39,687 | ▼ 12.2% |
| Remuneration and social security454/9 | - | - | - | €32,425 | €28,515 | €20,877 | €27,329 | €35,078 | ▲ 28.4% |
| Other amounts payable47/48 | - | - | - | €2,024 | €18,124 | €38,666 | €8,339 | €3,891 | ▼ 53.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €82 | €500 | ▲ 510% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,235 | €10,764 | €162 | €2,971 | €17,460 | €29,718 | €16,733 | €1,112 | ▼ 93.4% |
| + Depreciation and write-downs630 | €5,267 | €12,493 | €11,799 | €9,613 | €2,934 | €2,729 | €2,340 | €6,615 | ▲ 183% |
| Operating cash flow (approximation) | €26,502 | €23,257 | €11,961 | €12,584 | €20,394 | €32,446 | €19,073 | €7,726 | ▼ 59.5% |
| Investment in fixed assets (approximation) | - | -€26,584 | €0 | -€4,232 | -€3,126 | €0 | -€3,528 | -€18,344 | ▼ 420% |
| Change in cash | - | €2,057 | -€2,345 | €5,209 | -€16,345 | -€7,659 | -€11,467 | -€1,178 | ▲ 89.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as LOGISTICA has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LOGISTICA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for LOGISTICA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00366716 | |
| 31-12-2024 | micro format | 01-08-2025 | 2025-00349022 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00312972 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00296089 | |
| 31-12-2021 | micro format | 27-08-2022 | 2022-20324341 | |
| 31-12-2020 | micro format | 31-07-2021 | 2021-44000171 | |
| 31-12-2019 | micro format | 08-11-2020 | 2020-69300443 | |
| 31-12-2018 | micro format | 26-07-2019 | 2019-38100033 | |
| 31-12-2017 | micro format | 17-08-2018 | 2018-46100428 | |
| 31-12-2016 | micro format | 17-08-2017 | 2017-43800164 |