BD LOG: what changed
Two fiscal 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.
What changed
BD LOG
NACE 52.250, Logistics services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€176,429
2024 · -€222,170+€398,598
Equity
€1.4m
2024 · €1.2m+€157,549
Cash
€390,067
2024 · €853,170-€463,104
Balance sheet total
€20.1m
2024 · €13.5m+€6.7m
Largest movements
Assets
- Financial fixed assets +€7.2m
up €7.2m (+387.7%), from €1.8m to €9.0m
of which Affiliated companies: +€7.2m
- Cash -€463,104
down €463,104 (-54.3%), from €853,170 to €390,067
mainly Investment in fixed assets (net) (-€8.5m) and Trade debts (-€1.9m)
- Receivables within one year -€362,026
down €362,026 (-5.0%), from €7.3m to €6.9m
of which Other amounts receivable: -€610,650
Equity and liabilities
- Other debts +€6.3m
up €6.3m (+232.8%), from €2.7m to €9.0m
- Trade debts -€1.9m
down €1.9m (-29.5%), from €6.3m to €4.5m
- Debts after one year +€1.8m
up €1.8m (+237.2%), from €766,835 to €2.6m
- Current portion of long-term debt +€739,844
up €739,844 (+447.5%), from €165,313 to €905,157
- Tax, wage and social debts -€474,568
down €474,568 (-40.6%), from €1.2m to €694,182
of which Taxes: -€431,481
Income statement
- Services and other goods +€3.9m
up €3.9m (+70.0%), from €5.5m to €9.4m
- Turnover +€3.6m
up €3.6m (+13.7%), from €26.1m to €29.6m
- Goods and materials -€2.9m
down €2.9m (-19.1%), from €14.9m to €12.1m
- Staff costs +€1.6m
up €1.6m (+29.1%), from €5.6m to €7.3m
- Other operating income +€591,478
up €591,478 (+103.8%), from €569,599 to €1.2m
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.
Result 2024
-€222,170
Turnover
+€3.6m
Other operating income
+€591,478
Goods and materials
+€2.9m
Services and other goods
-€3.9m
Staff costs
-€1.6m
Depreciation
-€525,544
Write-downs
+€5,431
Other operating charges
-€97,294
Other operating items
-€91,287
Financial income
-€6,801
Financial charges
-€318,842
Taxes
-€70,007
Deferred taxes and other
+€1,573
Result 2025
€176,429
Cash bridge derived
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.
From operations
+€5.5m
Investment
-€8.5m
Financing
+€2.5m
Cash 2024
€853,170
From operations (derived)
+€5.5m
Net result for the year
+€176,429
Depreciation
+€1.1m
Receivables within one year
+€362,026
Deferred charges and accrued income
-€86,685
Provisions
-€4,720
Trade debts
-€1.9m
Tax, wage and social debts
-€474,568
Other debts
+€6.3m
Investment (derived)
-€8.5m
Investment in fixed assets (net)
-€8.5m
Financing
+€2.5m
Debts after one year
+€1.8m
Current portion of long-term debt
+€739,844
Short-term financial debts
+€6,997
Contributions, distributions and other
-€18,880
Cash 2025
€390,067
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,451,911 | €20,141,709 | +€6.7m | +49.7% |
| Fixed assets | 21/28 | €5,267,885 | €12,696,128 | +€7.4m | +141.0% |
| Intangible fixed assets | 21 | €352,050 | €517,680 | +€165,630 | +47.0% |
| Tangible fixed assets | 22/27 | €3,067,064 | €3,162,682 | +€95,618 | +3.1% |
| Land and buildings | 22 | €136,278 | €139,680 | +€3,402 | +2.5% |
| Plant, machinery and equipment | 23 | €393,787 | €413,422 | +€19,635 | +5.0% |
| Furniture and vehicles | 24 | €965,354 | €808,598 | -€156,757 | -16.2% |
| Leasing and similar rights | 25 | €1,032,190 | €1,051,514 | +€19,324 | +1.9% |
| Other tangible fixed assets | 26 | €508,820 | €749,469 | +€240,649 | +47.3% |
| Assets under construction and advance payments | 27 | €30,635 | - | -€30,635 | |
| Financial fixed assets | 28 | €1,848,771 | €9,015,766 | +€7.2m | +387.7% |
| Affiliated companies | 280/1 | €1,800,000 | €8,950,000 | +€7.2m | +397.2% |
| Participating interests | 280 | €1,800,000 | €8,950,000 | +€7.2m | +397.2% |
| Other financial fixed assets | 284/8 | €48,771 | €65,766 | +€16,995 | +34.8% |
| Amounts receivable and cash guarantees | 285/8 | €48,771 | €65,766 | +€16,995 | +34.8% |
| Current assets | 29/58 | €8,184,026 | €7,445,582 | -€738,444 | -9.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €7,256,658 | €6,894,633 | -€362,026 | -5.0% |
| Trade receivables | 40 | €6,243,589 | €6,492,214 | +€248,624 | +4.0% |
| Other amounts receivable | 41 | €1,013,069 | €402,419 | -€610,650 | -60.3% |
| Cash at bank and in hand | 54/58 | €853,170 | €390,067 | -€463,104 | -54.3% |
| Deferred charges and accrued income | 490/1 | €74,197 | €160,882 | +€86,685 | +116.8% |
| Total equity and liabilities | 10/49 | €13,451,911 | €20,141,709 | +€6.7m | +49.7% |
| Equity | 10/15 | €1,223,908 | €1,381,456 | +€157,549 | +12.9% |
| Contributions | 10/11 | €6 | €6 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,120,062 | €1,296,490 | +€176,429 | +15.8% |
| Investment grants | 15 | €103,840 | €84,960 | -€18,880 | -18.2% |
| Provisions and deferred taxes | 16 | €34,613 | €29,893 | -€4,720 | -13.6% |
| Deferred taxes | 168 | €34,613 | €29,893 | -€4,720 | -13.6% |
| Amounts payable | 17/49 | €12,193,390 | €18,730,360 | +€6.5m | +53.6% |
| Amounts payable after more than one year | 17 | €766,835 | €2,585,829 | +€1.8m | +237.2% |
| Financial debts | 170/4 | €766,835 | €2,585,829 | +€1.8m | +237.2% |
| Subordinated loans | 170 | - | €1,000,000 | +€1.0m | |
| Leasing and similar obligations | 172 | €766,835 | €685,829 | -€81,006 | -10.6% |
| Credit institutions | 173 | - | €900,000 | +€900,000 | |
| Amounts payable within one year | 42/48 | €11,426,555 | €16,144,531 | +€4.7m | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €165,313 | €905,157 | +€739,844 | +447.5% |
| Financial debts | 43 | €1,044,269 | €1,051,266 | +€6,997 | +0.7% |
| Credit institutions | 430/8 | €1,044,269 | €1,051,266 | +€6,997 | +0.7% |
| Trade debts | 44 | €6,334,799 | €4,463,235 | -€1.9m | -29.5% |
| Suppliers | 440/4 | €6,334,799 | €4,463,235 | -€1.9m | -29.5% |
| Taxes, remuneration and social security | 45 | €1,168,751 | €694,182 | -€474,568 | -40.6% |
| Taxes | 450/3 | €519,027 | €87,546 | -€431,481 | -83.1% |
| Remuneration and social security | 454/9 | €649,723 | €606,636 | -€43,087 | -6.6% |
| Other amounts payable | 47/48 | €2,713,423 | €9,030,690 | +€6.3m | +232.8% |
| Operating income | 70/76A | €26,622,757 | €30,794,143 | +€4.2m | +15.7% |
| Turnover | 70 | €26,053,158 | €29,633,066 | +€3.6m | +13.7% |
| Other operating income | 74 | €569,599 | €1,161,077 | +€591,478 | +103.8% |
| Operating charges | 60/66A | €26,779,212 | €30,157,923 | +€3.4m | +12.6% |
| Goods for resale, raw materials and consumables | 60 | €14,926,162 | €12,074,953 | -€2.9m | -19.1% |
| Purchases | 600/8 | €14,926,162 | €12,074,953 | -€2.9m | -19.1% |
| Services and other goods | 61 | €5,547,882 | €9,431,745 | +€3.9m | +70.0% |
| Remuneration, social security and pensions | 62 | €5,620,048 | €7,257,410 | +€1.6m | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €591,050 | €1,116,595 | +€525,544 | +88.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,702 | €8,270 | -€5,431 | -39.6% |
| Other operating charges | 640/8 | €37,010 | €134,304 | +€97,294 | +262.9% |
| Non-recurring operating charges | 66A | €43,358 | €134,645 | +€91,287 | +210.5% |
| Operating profit (loss) | 9901 | -€156,455 | €636,220 | +€792,675 | |
| Financial income | 75/76B | €48,760 | €41,959 | -€6,801 | -13.9% |
| Recurring financial income | 75 | €48,760 | €41,959 | -€6,801 | -13.9% |
| Other financial income | 752/9 | €48,760 | €41,959 | -€6,801 | -13.9% |
| Financial charges | 65/66B | €77,952 | €396,794 | +€318,842 | +409.0% |
| Recurring financial charges | 65 | €77,952 | €396,794 | +€318,842 | +409.0% |
| Debt charges | 650 | €57,269 | €354,749 | +€297,481 | +519.4% |
| Other financial charges | 652/9 | €20,684 | €42,045 | +€21,361 | +103.3% |
| Profit (loss) for the period before taxes | 9903 | -€185,647 | €281,385 | +€467,032 | |
| Transfer from deferred taxes | 780 | €3,147 | €4,720 | +€1,573 | +50.0% |
| Income taxes | 67/77 | €39,670 | €109,677 | +€70,007 | +176.5% |
| Taxes | 670/3 | €39,670 | €109,677 | +€70,007 | +176.5% |
| Profit (loss) for the period | 9904 | -€222,170 | €176,429 | +€398,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€222,170 | €176,429 | +€398,598 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.