61 LOGISTICS: 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.
61 LOGISTICS
Largest movements
- Receivables within one year +€42,780
up €42,780 (+34.0%), from €125,833 to €168,613
- Cash -€4,195
down €4,195 (-97.3%), from €4,312 to €116
mainly Receivables within one year (-€42,780) and Investment in fixed assets (net) (-€15,270)
- Tangible fixed assets -€3,676
down €3,676 (-8.1%), from €45,266 to €41,589
- Trade debts +€24,747
up €24,747 (+35.2%), from €70,373 to €95,119
- Other debts +€8,778
up €8,778 (+686%), from €1,280 to €10,057
- Current portion of long-term debt +€4,097
up €4,097 (+35.6%), from €11,504 to €15,601
- Debts after one year -€3,292
down €3,292 (-14.9%), from €22,153 to €18,861
- Short-term financial debts +€2,848
new in 2026: €2,848
- Gross operating margin +€21,138
up €21,138 (+23.7%), from €89,172 to €110,310
- Staff costs +€12,122
up €12,122 (+18.7%), from €64,696 to €76,818
- Financial charges +€3,993
up €3,993 (+127%), from €3,142 to €7,135
- Depreciation +€1,502
up €1,502 (+8.7%), from €17,174 to €18,676
From the 2025 result to the 2026 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
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,882 | €219,846 | +€35,964 | +19.6% |
| Fixed assets | 21/28 | €51,086 | €47,679 | -€3,406 | -6.7% |
| Tangible fixed assets | 22/27 | €45,266 | €41,589 | -€3,676 | -8.1% |
| Furniture and vehicles | 24 | €45,266 | €41,589 | -€3,676 | -8.1% |
| Financial fixed assets | 28 | €5,820 | €6,090 | +€270 | +4.6% |
| Current assets | 29/58 | €132,797 | €172,167 | +€39,370 | +29.6% |
| Amounts receivable within one year | 40/41 | €125,833 | €168,613 | +€42,780 | +34.0% |
| Trade receivables | 40 | €125,833 | €168,613 | +€42,780 | +34.0% |
| Cash at bank and in hand | 54/58 | €4,312 | €116 | -€4,195 | -97.3% |
| Deferred charges and accrued income | 490/1 | €2,652 | €3,437 | +€785 | +29.6% |
| Total equity and liabilities | 10/49 | €183,882 | €219,846 | +€35,964 | +19.6% |
| Equity | 10/15 | €28,005 | €29,423 | +€1,418 | +5.1% |
| Contributions | 10/11 | €13,500 | €13,500 | = | 0.0% |
| Reserves | 13 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €505 | €1,923 | +€1,418 | +281% |
| Amounts payable | 17/49 | €155,877 | €190,423 | +€34,546 | +22.2% |
| Amounts payable after more than one year | 17 | €22,153 | €18,861 | -€3,292 | -14.9% |
| Financial debts | 170/4 | €22,153 | €18,861 | -€3,292 | -14.9% |
| Amounts payable within one year | 42/48 | €133,724 | €171,563 | +€37,839 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €11,504 | €15,601 | +€4,097 | +35.6% |
| Financial debts | 43 | - | €2,848 | +€2,848 | |
| Credit institutions | 430/8 | - | €2,848 | +€2,848 | |
| Trade debts | 44 | €70,373 | €95,119 | +€24,747 | +35.2% |
| Suppliers | 440/4 | €70,373 | €95,119 | +€24,747 | +35.2% |
| Taxes, remuneration and social security | 45 | €50,567 | €47,937 | -€2,630 | -5.2% |
| Taxes | 450/3 | €35,977 | €36,837 | +€861 | +2.4% |
| Remuneration and social security | 454/9 | €14,591 | €11,100 | -€3,491 | -23.9% |
| Other amounts payable | 47/48 | €1,280 | €10,057 | +€8,778 | +686% |
| Remuneration, social security and pensions | 62 | €64,696 | €76,818 | +€12,122 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,174 | €18,676 | +€1,502 | +8.7% |
| Other operating charges | 640/8 | €3,410 | €4,306 | +€897 | +26.3% |
| Non-recurring operating charges | 66A | €40 | €40 | +€0 | +0.9% |
| Gross operating margin | 9900 | €89,172 | €110,310 | +€21,138 | +23.7% |
| Operating profit (loss) | 9901 | €3,853 | €10,469 | +€6,617 | +172% |
| Financial income | 75/76B | €210 | €6 | -€204 | -97.0% |
| Recurring financial income | 75 | €210 | €6 | -€204 | -97.0% |
| Financial charges | 65/66B | €3,142 | €7,135 | +€3,993 | +127% |
| Recurring financial charges | 65 | €3,142 | €7,135 | +€3,993 | +127% |
| Profit (loss) for the period before taxes | 9903 | €921 | €3,341 | +€2,420 | +263% |
| Income taxes | 67/77 | €824 | €1,923 | +€1,099 | +133% |
| Profit (loss) for the period | 9904 | €97 | €1,418 | +€1,321 | +1,368% |
| Profit (loss) for the period to be appropriated | 9905 | €97 | €1,418 | +€1,321 | +1,368% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.