Balkan 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.
Balkan Logistics
Largest movements
- Receivables within one year +€17,196
up €17,196 (+13.6%), from €126,412 to €143,609
of which Trade receivables: +€17,644
- Cash -€5,574
no longer reported in 2025 (was €5,574)
mainly Receivables within one year (-€17,196) and Debts after one year (-€10,636)
- Tangible fixed assets -€3,282
down €3,282 (-54.4%), from €6,037 to €2,754
- Short-term financial debts +€14,956
new in 2025: €14,956
- Debts after one year -€10,636
down €10,636 (-17.6%), from €60,520 to €49,884
- Profit (loss) carried forward +€1,893
up €1,893 (+5.3%), from €35,579 to €37,472
- Tax, wage and social debts +€1,560
up €1,560 (+38.0%), from €4,102 to €5,662
- Gross operating margin -€22,030
down €22,030 (-64.8%), from €34,014 to €11,985
- Other operating charges -€6,391
down €6,391 (-68.8%), from €9,294 to €2,903
- Taxes -€1,365
down €1,365 (-69.1%), from €1,975 to €610
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 | €145,875 | €155,466 | +€9,590 | +6.6% |
| Fixed assets | 21/28 | €12,037 | €8,754 | -€3,282 | -27.3% |
| Tangible fixed assets | 22/27 | €6,037 | €2,754 | -€3,282 | -54.4% |
| Furniture and vehicles | 24 | €6,037 | €2,754 | -€3,282 | -54.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €133,839 | €146,711 | +€12,873 | +9.6% |
| Amounts receivable within one year | 40/41 | €126,412 | €143,609 | +€17,196 | +13.6% |
| Trade receivables | 40 | €111,232 | €128,876 | +€17,644 | +15.9% |
| Other amounts receivable | 41 | €15,180 | €14,733 | -€447 | -2.9% |
| Cash at bank and in hand | 54/58 | €5,574 | - | -€5,574 | |
| Deferred charges and accrued income | 490/1 | €1,852 | €3,103 | +€1,250 | +67.5% |
| Total equity and liabilities | 10/49 | €145,875 | €155,466 | +€9,590 | +6.6% |
| Equity | 10/15 | €77,079 | €78,972 | +€1,893 | +2.5% |
| Contributions | 10/11 | €41,500 | €41,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,579 | €37,472 | +€1,893 | +5.3% |
| Amounts payable | 17/49 | €68,796 | €76,494 | +€7,698 | +11.2% |
| Amounts payable after more than one year | 17 | €60,520 | €49,884 | -€10,636 | -17.6% |
| Financial debts | 170/4 | €60,520 | €49,884 | -€10,636 | -17.6% |
| Amounts payable within one year | 42/48 | €8,276 | €26,610 | +€18,333 | +222% |
| Current portion of amounts payable after more than one year | 42 | - | €1,443 | +€1,443 | |
| Financial debts | 43 | - | €14,956 | +€14,956 | |
| Credit institutions | 430/8 | - | €14,956 | +€14,956 | |
| Trade debts | 44 | €4,174 | €4,549 | +€375 | +9.0% |
| Suppliers | 440/4 | €4,174 | €4,549 | +€375 | +9.0% |
| Taxes, remuneration and social security | 45 | €4,102 | €5,662 | +€1,560 | +38.0% |
| Taxes | 450/3 | €4,102 | €5,662 | +€1,560 | +38.0% |
| Non-recurring operating income | 76A | €6,466 | - | -€6,466 | |
| Remuneration, social security and pensions | 62 | €76 | - | -€76 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,661 | €2,382 | -€279 | -10.5% |
| Other operating charges | 640/8 | €9,294 | €2,903 | -€6,391 | -68.8% |
| Non-recurring operating charges | 66A | €10,315 | - | -€10,315 | |
| Gross operating margin | 9900 | €34,014 | €11,985 | -€22,030 | -64.8% |
| Operating profit (loss) | 9901 | €11,669 | €6,699 | -€4,970 | -42.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,004 | €4,197 | +€193 | +4.8% |
| Recurring financial charges | 65 | €4,004 | €4,197 | +€193 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €7,665 | €2,502 | -€5,163 | -67.4% |
| Income taxes | 67/77 | €1,975 | €610 | -€1,365 | -69.1% |
| Profit (loss) for the period | 9904 | €5,690 | €1,893 | -€3,797 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,690 | €1,893 | -€3,797 | -66.7% |
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 13 October 2026 via checked.be.