LOGISTICAL
InactiveFinancials · financial year 2025, abbreviated format
Equity
-€139,595▼ 22.9%
2024 · -€113,630
Total assets
€5,759▼ 60.3%
2024 · €14,508
Net result
-€25,965▼ 9.8%
2024 · -€23,658
Working capital
-€139,739▼ 15.4%
2024 · -€121,092
Trend over the years
2021 to 2025, 5 financial years
The operating result stays negative: a loss of €25,887 in 2025 against €23,436 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€25,887
2025
Net result-€25,965
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€5,759
2025
Equity-€139,595
2025
Debt€145,353
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€139,739
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2024
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€18,696--€16,065▲ 14.1%-€54,534▼ 239%-€23,436▲ 57.0%-€25,887▼ 10.5%
Net result-€19,160--€16,174▲ 15.6%-€54,638▼ 238%-€23,658▲ 56.7%-€25,965▼ 9.8%
Equity-€19,160--€35,334▼ 84.4%-€89,971▼ 155%-€113,630▼ 26.3%-€139,595▼ 22.9%
Total assets€37,912-€34,185▼ 9.8%€24,861▼ 27.3%€14,508▼ 41.6%€5,759▼ 60.3%
Debt€57,072-€69,518▲ 21.8%€114,832▲ 65.2%€128,137▲ 11.6%€145,353▲ 13.4%
Working capital-€51,700--€59,515▼ 15.1%-€105,793▼ 77.8%-€121,092▼ 14.5%-€139,739▼ 15.4%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5,759
Fixed assets
€144 ▼ 98.1%
Current assets
€5,615 ▼ 20.3%
Equity and liabilities
Equity-€139,595
Debt€145,353
Equity is negative: debt (€145,353) exceeds the balance-sheet total (€5,759).
Key figures and ratios
EBITDA
-€25,887▼
2024 · -€15,077
Cash flow
-€25,965▼
2024 · -€15,299
Current ratio
0.04▼
2024 · 0.05
ROA
-450.9%▼
2024 · -163.1%
Interest coverage
-328.59▼
2024 · -67.99
Debt ≤ 1 year
€145,353▲
2024 · €128,137
A ratio outside any meaningful range has been withheld (balance sheet total €5,759, equity -€139,595).
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,170 | €8,360 | €8,360 | €8,360 | €0 | ▼ 100% |
| Other operating charges640/8 | €4,727 | €571 | €499 | €0 | €647 | - |
| Non-recurring operating charges66A | €79,452 | €0 | - | - | - | - |
| Gross operating margin9900 | €80,654 | -€7,135 | -€45,675 | -€15,077 | -€25,239 | ▼ 67.4% |
| Operating profit (loss)9901 | -€18,696 | -€16,065 | -€54,534 | -€23,436 | -€25,887 | ▼ 10.5% |
| Financial income75/76B | €500 | €0 | - | - | - | - |
| Recurring financial income75 | €500 | €0 | - | - | - | - |
| Financial charges65/66B | €964 | €109 | €103 | €222 | €79 | ▼ 64.5% |
| Recurring financial charges65 | €964 | €109 | €103 | €222 | €79 | ▼ 64.5% |
| Profit (loss) for the period before taxes9903 | -€19,160 | -€16,174 | -€54,638 | -€23,658 | -€25,965 | ▼ 9.8% |
| Profit (loss) for the period9904 | -€19,160 | -€16,174 | -€54,638 | -€23,658 | -€25,965 | ▼ 9.8% |
| Profit (loss) for the period to be appropriated9905 | -€19,160 | -€16,174 | -€54,638 | -€23,658 | -€25,965 | ▼ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €37,912 | €34,185 | €24,861 | €14,508 | €5,759 | ▼ 60.3% |
| Fixed assets21/28 | €32,541 | €24,181 | €15,822 | €7,462 | €144 | ▼ 98.1% |
| Tangible fixed assets22/27 | €32,397 | €24,037 | €15,678 | €7,318 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €22,747 | €17,486 | €12,224 | €6,963 | €0 | ▼ 100% |
| Furniture and vehicles24 | €9,650 | €6,552 | €3,454 | €356 | €0 | ▼ 100% |
| Financial fixed assets28 | €144 | €144 | €144 | €144 | €144 | = |
| Current assets29/58 | €5,371 | €10,003 | €9,039 | €7,045 | €5,615 | ▼ 20.3% |
| Amounts receivable within one year40/41 | €2,559 | €7,381 | €3,713 | €2,421 | €0 | ▼ 100% |
| Trade receivables40 | €1,028 | €7,381 | €0 | - | - | - |
| Other amounts receivable41 | €1,531 | €0 | €3,713 | €2,421 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €2,812 | €2,622 | €5,326 | €4,437 | €5,615 | ▲ 26.5% |
| Deferred charges and accrued income490/1 | - | - | - | €188 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €37,912 | €34,185 | €24,861 | €14,508 | €5,759 | ▼ 60.3% |
| Equity10/15 | -€19,160 | -€35,334 | -€89,971 | -€113,630 | -€139,595 | ▼ 22.9% |
| Profit (loss) carried forward14 | -€19,160 | -€35,334 | -€89,971 | -€113,630 | -€139,595 | ▼ 22.9% |
| Amounts payable17/49 | €57,072 | €69,518 | €114,832 | €128,137 | €145,353 | ▲ 13.4% |
| Amounts payable within one year42/48 | €57,072 | €69,518 | €114,832 | €128,137 | €145,353 | ▲ 13.4% |
| Trade debts44 | €471 | €548 | €10,381 | €0 | €7,776 | - |
| Suppliers440/4 | €471 | €548 | €10,381 | €0 | €7,776 | - |
| Taxes, remuneration and social security45 | - | €6,238 | €0 | - | €963 | - |
| Taxes450/3 | - | €6,238 | €0 | - | €963 | - |
| Other amounts payable47/48 | €56,600 | €62,733 | €104,451 | €128,137 | €136,614 | ▲ 6.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,160 | -€16,174 | -€54,638 | -€23,658 | -€25,965 | ▼ 9.8% |
| + Depreciation and write-downs630 | €15,170 | €8,360 | €8,360 | €8,360 | €0 | ▼ 100% |
| Operating cash flow (approximation) | -€3,989 | -€7,815 | -€46,278 | -€15,299 | -€25,965 | ▼ 69.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €7,318 | - |
| Change in cash | - | -€190 | €2,704 | -€889 | €1,178 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 12-06-2026 | 2026-00173422 |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00483916 |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00456866 |
| 31-12-2022 | abbreviated format | 30-08-2023 | 2023-00382094 |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20376927 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.