Aartselaar 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.
Aartselaar Logistics
Largest movements
- Receivables after one year -€1.4m
no longer reported in 2025 (was €1.4m)
- Tangible fixed assets -€557,884
down €557,884 (-8.1%), from €6.9m to €6.3m
- Cash +€240,348
up €240,348 (+39.5%), from €608,558 to €848,906
mainly Receivables after one year (+€1.4m) and Net result for the year (+€1.3m)
- Deferred charges and accrued income -€214,033
down €214,033 (-43.0%), from €497,942 to €283,909
- Contributions -€2.4m
down €2.4m (-97.1%), from €2.5m to €70,733
- Reserves +€1.3m
up €1.3m (+521%), from €246,240 to €1.5m
of which Distributable reserves: +€1.3m
- Other debts -€657,083
down €657,083 (-77.3%), from €850,000 to €192,917
- Short-term financial debts -€397,481
down €397,481 (-7.4%), from €5.4m to €5.0m
- Financial income +€384,003
up €384,003 (+467%), from €82,147 to €466,150
- Gross operating margin +€194,675
up €194,675 (+9.8%), from €2.0m to €2.2m
- Taxes +€151,367
up €151,367 (+52.6%), from €287,912 to €439,279
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,727,276 | €7,662,655 | -€2.1m | -21.2% |
| Fixed assets | 21/28 | €6,860,867 | €6,302,983 | -€557,884 | -8.1% |
| Tangible fixed assets | 22/27 | €6,860,867 | €6,302,983 | -€557,884 | -8.1% |
| Land and buildings | 22 | €6,860,867 | €6,302,983 | -€557,884 | -8.1% |
| Current assets | 29/58 | €2,866,410 | €1,359,672 | -€1.5m | -52.6% |
| Amounts receivable after more than one year | 29 | €1,445,642 | - | -€1.4m | |
| Other amounts receivable | 291 | €1,445,642 | - | -€1.4m | |
| Amounts receivable within one year | 40/41 | €314,268 | €226,858 | -€87,410 | -27.8% |
| Trade receivables | 40 | €314,268 | €226,858 | -€87,410 | -27.8% |
| Cash at bank and in hand | 54/58 | €608,558 | €848,906 | +€240,348 | +39.5% |
| Deferred charges and accrued income | 490/1 | €497,942 | €283,909 | -€214,033 | -43.0% |
| Total equity and liabilities | 10/49 | €9,727,276 | €7,662,655 | -€2.1m | -21.2% |
| Equity | 10/15 | €2,718,145 | €1,600,363 | -€1.1m | -41.1% |
| Contributions | 10/11 | €2,462,400 | €70,733 | -€2.4m | -97.1% |
| Capital | 10 | €2,462,400 | €70,733 | -€2.4m | -97.1% |
| Issued capital | 100 | €2,462,400 | €70,733 | -€2.4m | -97.1% |
| Reserves | 13 | €246,240 | €1,529,630 | +€1.3m | +521% |
| Non-distributable reserves | 130/1 | €246,240 | €246,240 | = | 0.0% |
| Legal reserve | 130 | €246,240 | €246,240 | = | 0.0% |
| Distributable reserves | 133 | - | €1,283,390 | +€1.3m | |
| Profit (loss) carried forward | 14 | €9,505 | - | -€9,505 | |
| Amounts payable | 17/49 | €7,009,131 | €6,062,292 | -€946,839 | -13.5% |
| Amounts payable after more than one year | 17 | €150 | €150 | = | 0.0% |
| Other amounts payable | 178/9 | €150 | €150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,491,670 | €5,498,524 | -€993,146 | -15.3% |
| Financial debts | 43 | €5,400,000 | €5,002,519 | -€397,481 | -7.4% |
| Credit institutions | 430/8 | €5,400,000 | €5,002,519 | -€397,481 | -7.4% |
| Trade debts | 44 | €109,700 | €94,674 | -€15,026 | -13.7% |
| Suppliers | 440/4 | €109,700 | €94,674 | -€15,026 | -13.7% |
| Taxes, remuneration and social security | 45 | €131,970 | €208,414 | +€76,444 | +57.9% |
| Taxes | 450/3 | €131,970 | €208,414 | +€76,444 | +57.9% |
| Other amounts payable | 47/48 | €850,000 | €192,917 | -€657,083 | -77.3% |
| Accrued charges and deferred income | 492/3 | €517,311 | €563,618 | +€46,306 | +9.0% |
| Non-recurring operating income | 76A | - | €157,968 | +€157,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €606,510 | €615,541 | +€9,031 | +1.5% |
| Other operating charges | 640/8 | €186,779 | €187,995 | +€1,216 | +0.7% |
| Gross operating margin | 9900 | €1,978,562 | €2,173,237 | +€194,675 | +9.8% |
| Operating profit (loss) | 9901 | €1,185,273 | €1,369,700 | +€184,427 | +15.6% |
| Financial income | 75/76B | €82,147 | €466,150 | +€384,003 | +467% |
| Recurring financial income | 75 | €82,147 | €466,150 | +€384,003 | +467% |
| Financial charges | 65/66B | €125,725 | €113,454 | -€12,270 | -9.8% |
| Recurring financial charges | 65 | €125,725 | €113,454 | -€12,270 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €1,141,696 | €1,722,396 | +€580,701 | +50.9% |
| Income taxes | 67/77 | €287,912 | €439,279 | +€151,367 | +52.6% |
| Profit (loss) for the period | 9904 | €853,784 | €1,283,117 | +€429,334 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €853,784 | €1,283,117 | +€429,334 | +50.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.