BT 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.
What changed
BT LOGISTICS
NACE 52.250, Logistics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€339,275
2024 · €133,096+€206,179
Equity
€806,873
2024 · €467,599+€339,275
Cash
€350,037
2024 · €52,002+€298,035
Balance sheet total
€3.1m
2024 · €7.8m-€4.7m
Largest movements
Assets
- Receivables within one year -€2.8m
down €2.8m (-65.7%), from €4.2m to €1.5m
of which Trade receivables: -€2.5m
- Tangible fixed assets -€2.2m
down €2.2m (-68.5%), from €3.3m to €1.0m
of which Leasing and similar rights: -€2.0m
- Cash +€298,035
up €298,035 (+573%), from €52,002 to €350,037
mainly Receivables within one year (+€2.8m) and Investment in fixed assets (net) (+€1.9m)
Equity and liabilities
- Trade debts -€2.7m
down €2.7m (-73.3%), from €3.7m to €984,759
- Debts after one year -€1.4m
down €1.4m (-70.1%), from €1.9m to €577,091
- Current portion of long-term debt -€435,313
down €435,313 (-51.9%), from €838,546 to €403,233
- Advances received -€375,125
down €375,125 (-100%), from €375,125 to €0
- Profit (loss) carried forward +€339,275
up €339,275 (+92.5%), from €366,690 to €705,964
Income statement
- Turnover +€9.7m
new in 2025: €9.7m
- Goods and materials +€5.4m
new in 2025: €5.4m
- Gross operating margin -€3.3m
no longer reported in 2025 (was €3.3m)
- Services and other goods +€2.0m
new in 2025: €2.0m
- Staff costs -€495,400
down €495,400 (-25.3%), from €2.0m to €1.5m
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
€133,096
Turnover
+€9.7m
Other operating income
+€254,629
Goods and materials
-€5.4m
Services and other goods
-€2.0m
Staff costs
+€495,400
Depreciation
+€288,062
Write-downs
+€19,999
Provisions
+€241,108
Other operating charges
+€20,690
Other operating items
-€3.3m
Financial income
+€2,807
Financial charges
+€60,564
Taxes
-€70,745
Result 2025
€339,275
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€172,344
Investment
+€1.9m
Financing
-€1.7m
Cash 2024
€52,002
From operations (derived)
+€172,344
Net result for the year
+€339,275
Depreciation
+€351,762
Receivables within one year
+€2.8m
Deferred charges and accrued income
+€7,011
Provisions
-€65,000
Trade debts
-€2.7m
Tax, wage and social debts
-€182,158
Advances received
-€375,125
Other debts
+€12,886
Accrued charges and deferred income
+€5,006
Investment (derived)
+€1.9m
Investment in fixed assets (net)
+€1.9m
Current investments
-€13,150
Financing
-€1.7m
Debts after one year
-€1.4m
Current portion of long-term debt
-€435,313
Short-term financial debts
+€50,802
Cash 2025
€350,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,787,372 | €3,076,935 | -€4.7m | -60.5% |
| Fixed assets | 21/28 | €3,487,709 | €1,260,515 | -€2.2m | -63.9% |
| Intangible fixed assets | 21 | €678 | €490 | -€188 | -27.8% |
| Tangible fixed assets | 22/27 | €3,280,637 | €1,033,631 | -€2.2m | -68.5% |
| Plant, machinery and equipment | 23 | €29,119 | €9,605 | -€19,514 | -67.0% |
| Furniture and vehicles | 24 | €190,886 | €5,392 | -€185,494 | -97.2% |
| Leasing and similar rights | 25 | €3,055,488 | €1,014,029 | -€2.0m | -66.8% |
| Other tangible fixed assets | 26 | €5,144 | €4,604 | -€540 | -10.5% |
| Financial fixed assets | 28 | €206,395 | €226,395 | +€20,000 | +9.7% |
| Other financial fixed assets | 284/8 | - | €226,395 | +€226,395 | |
| Amounts receivable and cash guarantees | 285/8 | - | €226,395 | +€226,395 | |
| Current assets | 29/58 | €4,299,663 | €1,816,420 | -€2.5m | -57.8% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,240,650 | €1,453,233 | -€2.8m | -65.7% |
| Trade receivables | 40 | €3,873,234 | €1,356,793 | -€2.5m | -65.0% |
| Other amounts receivable | 41 | €367,416 | €96,440 | -€270,976 | -73.8% |
| Current investments | 50/53 | - | €13,150 | +€13,150 | |
| Other investments | 51/53 | - | €13,150 | +€13,150 | |
| Cash at bank and in hand | 54/58 | €52,002 | €350,037 | +€298,035 | +573% |
| Deferred charges and accrued income | 490/1 | €7,011 | €0 | -€7,011 | -100% |
| Total equity and liabilities | 10/49 | €7,787,372 | €3,076,935 | -€4.7m | -60.5% |
| Equity | 10/15 | €467,599 | €806,873 | +€339,275 | +72.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €90,909 | €90,909 | = | 0.0% |
| Distributable reserves | 133 | €90,909 | €90,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €366,690 | €705,964 | +€339,275 | +92.5% |
| Provisions and deferred taxes | 16 | €176,108 | €111,108 | -€65,000 | -36.9% |
| Provisions for liabilities and charges | 160/5 | €176,108 | €111,108 | -€65,000 | -36.9% |
| Other liabilities and charges | 164/5 | €176,108 | €111,108 | -€65,000 | -36.9% |
| Amounts payable | 17/49 | €7,143,665 | €2,158,953 | -€5.0m | -69.8% |
| Amounts payable after more than one year | 17 | €1,929,172 | €577,091 | -€1.4m | -70.1% |
| Financial debts | 170/4 | €1,929,172 | €577,091 | -€1.4m | -70.1% |
| Leasing and similar obligations | 172 | - | €577,091 | +€577,091 | |
| Amounts payable within one year | 42/48 | €5,214,494 | €1,576,856 | -€3.6m | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €838,546 | €403,233 | -€435,313 | -51.9% |
| Financial debts | 43 | - | €50,802 | +€50,802 | |
| Credit institutions | 430/8 | - | €50,802 | +€50,802 | |
| Trade debts | 44 | €3,693,489 | €984,759 | -€2.7m | -73.3% |
| Suppliers | 440/4 | €3,693,489 | €984,759 | -€2.7m | -73.3% |
| Advances received on contracts in progress | 46 | €375,125 | €0 | -€375,125 | -100% |
| Taxes, remuneration and social security | 45 | €307,334 | €125,175 | -€182,158 | -59.3% |
| Taxes | 450/3 | €49,672 | €92,559 | +€42,887 | +86.3% |
| Remuneration and social security | 454/9 | €257,661 | €32,616 | -€225,045 | -87.3% |
| Other amounts payable | 47/48 | €0 | €12,886 | +€12,886 | |
| Accrued charges and deferred income | 492/3 | - | €5,006 | +€5,006 | |
| Operating income | 70/76A | - | €10,120,950 | +€10.1m | |
| Turnover | 70 | - | €9,652,012 | +€9.7m | |
| Other operating income | 74 | - | €254,629 | +€254,629 | |
| Non-recurring operating income | 76A | €35,002 | €214,308 | +€179,306 | +512% |
| Operating charges | 60/66A | - | €9,542,457 | +€9.5m | |
| Goods for resale, raw materials and consumables | 60 | - | €5,439,592 | +€5.4m | |
| Purchases | 600/8 | - | €5,439,592 | +€5.4m | |
| Services and other goods | 61 | - | €1,997,682 | +€2.0m | |
| Remuneration, social security and pensions | 62 | €1,955,148 | €1,459,749 | -€495,400 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €639,824 | €351,762 | -€288,062 | -45.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,999 | €2,000 | -€19,999 | -90.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €176,108 | -€65,000 | -€241,108 | |
| Other operating charges | 640/8 | €52,155 | €31,466 | -€20,690 | -39.7% |
| Non-recurring operating charges | 66A | €122,115 | €325,207 | +€203,092 | +166% |
| Gross operating margin | 9900 | €3,332,291 | - | -€3.3m | |
| Operating profit (loss) | 9901 | €364,940 | €578,492 | +€213,552 | +58.5% |
| Financial income | 75/76B | €768 | €3,576 | +€2,807 | +365% |
| Recurring financial income | 75 | €768 | €3,576 | +€2,807 | +365% |
| Other financial income | 752/9 | - | €3,576 | +€3,576 | |
| Financial charges | 65/66B | €173,701 | €113,136 | -€60,564 | -34.9% |
| Recurring financial charges | 65 | €173,701 | €113,136 | -€60,564 | -34.9% |
| Debt charges | 650 | - | €104,904 | +€104,904 | |
| Other financial charges | 652/9 | - | €8,232 | +€8,232 | |
| Profit (loss) for the period before taxes | 9903 | €192,008 | €468,932 | +€276,924 | +144% |
| Income taxes | 67/77 | €58,912 | €129,657 | +€70,745 | +120% |
| Taxes | 670/3 | - | €129,657 | +€129,657 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €133,096 | €339,275 | +€206,179 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €133,096 | €339,275 | +€206,179 | +155% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.