BAF LOGISTIQUE: 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.
BAF LOGISTIQUE
Largest movements
- Cash +€17,466
up €17,466 (+70.8%), from €24,659 to €42,125
mainly Net result for the year (+€33,275) and Depreciation (+€1,679)
- Tangible fixed assets +€6,138
new in 2025: €6,138
- Financial fixed assets +€5,000
up €5,000 (+99.2%), from €5,040 to €10,040
- Profit (loss) carried forward +€33,275
up €33,275 (+17.7%), from €187,804 to €221,079
- Tax, wage and social debts -€6,037
down €6,037 (-13.9%), from €43,552 to €37,515
of which Taxes: -€5,679
- Gross operating margin +€55,305
up €55,305 (+22.7%), from €243,406 to €298,711
- Staff costs +€50,404
up €50,404 (+30.1%), from €167,337 to €217,741
- Taxes +€13,910
up €13,910 (+151%), from €9,207 to €23,117
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 | €253,703 | €280,724 | +€27,021 | +10.7% |
| Fixed assets | 21/28 | €5,040 | €16,178 | +€11,138 | +221% |
| Tangible fixed assets | 22/27 | - | €6,138 | +€6,138 | |
| Furniture and vehicles | 24 | - | €6,138 | +€6,138 | |
| Financial fixed assets | 28 | €5,040 | €10,040 | +€5,000 | +99.2% |
| Current assets | 29/58 | €248,663 | €264,546 | +€15,883 | +6.4% |
| Amounts receivable within one year | 40/41 | €224,004 | €222,421 | -€1,583 | -0.7% |
| Trade receivables | 40 | €224,004 | €222,421 | -€1,583 | -0.7% |
| Cash at bank and in hand | 54/58 | €24,659 | €42,125 | +€17,466 | +70.8% |
| Total equity and liabilities | 10/49 | €253,703 | €280,724 | +€27,021 | +10.7% |
| Equity | 10/15 | €207,559 | €240,834 | +€33,275 | +16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,155 | €1,155 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,155 | €1,155 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,155 | €1,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,804 | €221,079 | +€33,275 | +17.7% |
| Amounts payable | 17/49 | €46,144 | €39,890 | -€6,254 | -13.6% |
| Amounts payable within one year | 42/48 | €46,144 | €39,890 | -€6,254 | -13.6% |
| Trade debts | 44 | €2,592 | €2,375 | -€217 | -8.4% |
| Suppliers | 440/4 | €2,592 | €2,375 | -€217 | -8.4% |
| Taxes, remuneration and social security | 45 | €43,552 | €37,515 | -€6,037 | -13.9% |
| Taxes | 450/3 | €20,159 | €14,480 | -€5,679 | -28.2% |
| Remuneration and social security | 454/9 | €23,393 | €23,035 | -€358 | -1.5% |
| Remuneration, social security and pensions | 62 | €167,337 | €217,741 | +€50,404 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,679 | +€1,679 | |
| Other operating charges | 640/8 | €1,657 | €3,638 | +€1,981 | +120% |
| Non-recurring operating charges | 66A | €3,856 | €19,028 | +€15,172 | +393% |
| Gross operating margin | 9900 | €243,406 | €298,711 | +€55,305 | +22.7% |
| Operating profit (loss) | 9901 | €70,556 | €56,625 | -€13,931 | -19.7% |
| Financial income | 75/76B | - | €112 | +€112 | |
| Recurring financial income | 75 | - | €112 | +€112 | |
| Financial charges | 65/66B | €427 | €345 | -€82 | -19.2% |
| Recurring financial charges | 65 | €427 | €345 | -€82 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €70,129 | €56,392 | -€13,737 | -19.6% |
| Income taxes | 67/77 | €9,207 | €23,117 | +€13,910 | +151% |
| Profit (loss) for the period | 9904 | €60,922 | €33,275 | -€27,647 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,922 | €33,275 | -€27,647 | -45.4% |
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 17 October 2026 via checked.be.