BELTRANS & 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.
BELTRANS & LOGISTICS
Largest movements
- Deferred charges and accrued income -€33,915
down €33,915 (-36.4%), from €93,266 to €59,351
- Receivables within one year +€29,794
up €29,794 (+51.9%), from €57,456 to €87,250
of which Trade receivables: +€20,026
- Cash -€6,570
down €6,570 (-43.1%), from €15,242 to €8,672
mainly Receivables within one year (-€29,794) and Tax, wage and social debts (-€16,810)
- Tangible fixed assets -€4,286
down €4,286 (-80.7%), from €5,313 to €1,027
- Tax, wage and social debts -€16,810
down €16,810 (-24.8%), from €67,869 to €51,059
of which Taxes: -€14,235
- Profit (loss) carried forward -€9,060
down €9,060 (-68.2%), from -€13,282 to -€22,343
- Other debts +€7,923
up €7,923 (+47.8%), from €16,577 to €24,500
- Trade debts +€2,970
up €2,970 (+895%), from €332 to €3,302
- Gross operating margin -€25,715
down €25,715 (-70.8%), from €36,318 to €10,603
- Other operating charges -€19,528
down €19,528 (-62.5%), from €31,264 to €11,737
- Depreciation -€10,393
down €10,393 (-86.4%), from €12,033 to €1,640
- Taxes +€1,228
up €1,228 (+106%), from €1,160 to €2,388
- Financial charges -€1,064
down €1,064 (-20.7%), from €5,143 to €4,079
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 | €171,277 | €156,300 | -€14,977 | -8.7% |
| Fixed assets | 21/28 | €5,313 | €1,027 | -€4,286 | -80.7% |
| Tangible fixed assets | 22/27 | €5,313 | €1,027 | -€4,286 | -80.7% |
| Furniture and vehicles | 24 | €5,313 | €1,027 | -€4,286 | -80.7% |
| Current assets | 29/58 | €165,964 | €155,273 | -€10,691 | -6.4% |
| Amounts receivable within one year | 40/41 | €57,456 | €87,250 | +€29,794 | +51.9% |
| Trade receivables | 40 | €35,956 | €55,982 | +€20,026 | +55.7% |
| Other amounts receivable | 41 | €21,500 | €31,268 | +€9,768 | +45.4% |
| Cash at bank and in hand | 54/58 | €15,242 | €8,672 | -€6,570 | -43.1% |
| Deferred charges and accrued income | 490/1 | €93,266 | €59,351 | -€33,915 | -36.4% |
| Total equity and liabilities | 10/49 | €171,277 | €156,300 | -€14,977 | -8.7% |
| Equity | 10/15 | €86,499 | €77,439 | -€9,060 | -10.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €87,382 | €87,382 | = | 0.0% |
| Distributable reserves | 133 | €87,382 | €87,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,282 | -€22,343 | -€9,060 | -68.2% |
| Amounts payable | 17/49 | €84,778 | €78,861 | -€5,917 | -7.0% |
| Amounts payable within one year | 42/48 | €84,778 | €78,861 | -€5,917 | -7.0% |
| Trade debts | 44 | €332 | €3,302 | +€2,970 | +895% |
| Suppliers | 440/4 | €332 | €3,302 | +€2,970 | +895% |
| Taxes, remuneration and social security | 45 | €67,869 | €51,059 | -€16,810 | -24.8% |
| Taxes | 450/3 | €65,294 | €51,059 | -€14,235 | -21.8% |
| Remuneration and social security | 454/9 | €2,575 | €0 | -€2,575 | -100% |
| Other amounts payable | 47/48 | €16,577 | €24,500 | +€7,923 | +47.8% |
| Non-recurring operating income | 76A | - | €3,212 | +€3,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,033 | €1,640 | -€10,393 | -86.4% |
| Other operating charges | 640/8 | €31,264 | €11,737 | -€19,528 | -62.5% |
| Non-recurring operating charges | 66A | - | €58 | +€58 | |
| Gross operating margin | 9900 | €36,318 | €10,603 | -€25,715 | -70.8% |
| Operating profit (loss) | 9901 | -€6,979 | -€2,831 | +€4,148 | +59.4% |
| Financial income | 75/76B | - | €238 | +€238 | |
| Recurring financial income | 75 | - | €238 | +€238 | |
| Financial charges | 65/66B | €5,143 | €4,079 | -€1,064 | -20.7% |
| Recurring financial charges | 65 | €5,143 | €4,079 | -€1,064 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,122 | -€6,672 | +€5,450 | +45.0% |
| Income taxes | 67/77 | €1,160 | €2,388 | +€1,228 | +106% |
| Profit (loss) for the period | 9904 | -€13,282 | -€9,060 | +€4,222 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,282 | -€9,060 | +€4,222 | +31.8% |
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.