Brussels Express 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.
Brussels Express Logistics
Largest movements
- Tangible fixed assets +€401,705
up €401,705 (+312%), from €128,753 to €530,458
of which Land and buildings: +€364,400
- Receivables within one year -€107,637
down €107,637 (-44.7%), from €240,866 to €133,229
of which Trade receivables: -€97,284
- Cash -€27,211
down €27,211 (-37.1%), from €73,302 to €46,091
mainly Investment in fixed assets (net) (-€434,333) and Trade debts (-€88,495)
- Debts after one year +€256,020
up €256,020 (+739%), from €34,657 to €290,676
- Trade debts -€88,495
down €88,495 (-26.2%), from €337,673 to €249,178
- Profit (loss) carried forward +€65,730
up €65,730 (+150%), from €43,769 to €109,498
- Tax, wage and social debts +€49,170
up €49,170 (+140%), from €35,019 to €84,189
of which Taxes: +€34,430
- Other debts -€45,926
no longer reported in 2025 (was €45,926)
- Depreciation +€10,577
up €10,577 (+39.1%), from €27,054 to €37,631
- Gross operating margin +€7,665
up €7,665 (+2.6%), from €300,465 to €308,131
- Financial charges +€3,916
up €3,916 (+33.0%), from €11,872 to €15,788
- Staff costs -€3,312
down €3,312 (-2.2%), from €150,205 to €146,893
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 | €588,348 | €837,547 | +€249,198 | +42.4% |
| Fixed assets | 21/28 | €150,309 | €547,011 | +€396,702 | +264% |
| Intangible fixed assets | 21 | €11,131 | €6,427 | -€4,704 | -42.3% |
| Tangible fixed assets | 22/27 | €128,753 | €530,458 | +€401,705 | +312% |
| Land and buildings | 22 | - | €364,400 | +€364,400 | |
| Plant, machinery and equipment | 23 | €49,173 | €63,508 | +€14,335 | +29.2% |
| Furniture and vehicles | 24 | €14,067 | €48,815 | +€34,748 | +247% |
| Leasing and similar rights | 25 | €49,859 | €37,685 | -€12,174 | -24.4% |
| Other tangible fixed assets | 26 | €15,654 | €13,076 | -€2,578 | -16.5% |
| Assets under construction and advance payments | 27 | - | €2,974 | +€2,974 | |
| Financial fixed assets | 28 | €10,425 | €10,125 | -€300 | -2.9% |
| Current assets | 29/58 | €438,039 | €290,536 | -€147,503 | -33.7% |
| Amounts receivable after more than one year | 29 | €107,000 | €99,595 | -€7,405 | -6.9% |
| Other amounts receivable | 291 | €107,000 | €99,595 | -€7,405 | -6.9% |
| Amounts receivable within one year | 40/41 | €240,866 | €133,229 | -€107,637 | -44.7% |
| Trade receivables | 40 | €158,378 | €61,094 | -€97,284 | -61.4% |
| Other amounts receivable | 41 | €82,487 | €72,135 | -€10,352 | -12.6% |
| Cash at bank and in hand | 54/58 | €73,302 | €46,091 | -€27,211 | -37.1% |
| Deferred charges and accrued income | 490/1 | €16,872 | €11,621 | -€5,251 | -31.1% |
| Total equity and liabilities | 10/49 | €588,348 | €837,547 | +€249,198 | +42.4% |
| Equity | 10/15 | €123,769 | €189,498 | +€65,730 | +53.1% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Contributions outside capital | 11 | €80,000 | €80,000 | = | 0.0% |
| Other | 1109/19 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,769 | €109,498 | +€65,730 | +150% |
| Amounts payable | 17/49 | €464,580 | €648,048 | +€183,469 | +39.5% |
| Amounts payable after more than one year | 17 | €34,657 | €290,676 | +€256,020 | +739% |
| Financial debts | 170/4 | €34,657 | €290,676 | +€256,020 | +739% |
| Amounts payable within one year | 42/48 | €429,565 | €357,346 | -€72,219 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €10,947 | €23,980 | +€13,033 | +119% |
| Trade debts | 44 | €337,673 | €249,178 | -€88,495 | -26.2% |
| Suppliers | 440/4 | €337,673 | €249,178 | -€88,495 | -26.2% |
| Taxes, remuneration and social security | 45 | €35,019 | €84,189 | +€49,170 | +140% |
| Taxes | 450/3 | €28,600 | €63,030 | +€34,430 | +120% |
| Remuneration and social security | 454/9 | €6,419 | €21,159 | +€14,739 | +230% |
| Other amounts payable | 47/48 | €45,926 | - | -€45,926 | |
| Accrued charges and deferred income | 492/3 | €358 | €26 | -€333 | -92.8% |
| Non-recurring operating income | 76A | €6,822 | - | -€6,822 | |
| Remuneration, social security and pensions | 62 | €150,205 | €146,893 | -€3,312 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,054 | €37,631 | +€10,577 | +39.1% |
| Other operating charges | 640/8 | €24,291 | €23,532 | -€759 | -3.1% |
| Non-recurring operating charges | 66A | - | €25 | +€25 | |
| Gross operating margin | 9900 | €300,465 | €308,131 | +€7,665 | +2.6% |
| Operating profit (loss) | 9901 | €98,916 | €100,050 | +€1,134 | +1.1% |
| Financial income | 75/76B | €4,131 | €4,637 | +€506 | +12.3% |
| Recurring financial income | 75 | €4,131 | €4,637 | +€506 | +12.3% |
| Financial charges | 65/66B | €11,872 | €15,788 | +€3,916 | +33.0% |
| Recurring financial charges | 65 | €11,872 | €15,788 | +€3,916 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €91,174 | €88,899 | -€2,275 | -2.5% |
| Income taxes | 67/77 | €25,117 | €23,170 | -€1,948 | -7.8% |
| Profit (loss) for the period | 9904 | €66,057 | €65,730 | -€327 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,057 | €65,730 | -€327 | -0.5% |
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 25 October 2026 via checked.be.