Cargo performance: 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.
Cargo performance
Largest movements
- Receivables within one year -€25,757
down €25,757 (-73.7%), from €34,972 to €9,215
of which Trade receivables: -€28,111
- Tangible fixed assets -€7,735
down €7,735 (-64.6%), from €11,969 to €4,234
of which Plant, machinery and equipment: -€5,233
- Stocks and contracts -€950
no longer reported in 2025 (was €950)
- Cash -€620
down €620 (-15.1%), from €4,119 to €3,498
mainly Trade debts (-€23,692) and Net result for the year (-€10,291)
- Trade debts -€23,692
down €23,692 (-87.6%), from €27,053 to €3,362
- Profit (loss) carried forward -€10,291
down €10,291 (-42.5%), from €24,218 to €13,927
- Tax, wage and social debts -€1,140
no longer reported in 2025 (was €1,140)
- Gross operating margin -€29,196
down €29,196 (-97.5%), from €29,946 to €750
- Depreciation -€5,634
down €5,634 (-43.4%), from €12,993 to €7,359
- Financial income +€337
new in 2025: €337
- Other operating charges -€328
down €328 (-43.1%), from €762 to €434
- Financial charges -€321
down €321 (-30.1%), from €1,068 to €746
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,612 | €23,489 | -€35,123 | -59.9% |
| Fixed assets | 21/28 | €18,511 | €10,776 | -€7,735 | -41.8% |
| Tangible fixed assets | 22/27 | €11,969 | €4,234 | -€7,735 | -64.6% |
| Plant, machinery and equipment | 23 | €9,142 | €3,909 | -€5,233 | -57.2% |
| Furniture and vehicles | 24 | €2,827 | €325 | -€2,502 | -88.5% |
| Financial fixed assets | 28 | €6,542 | €6,542 | = | 0.0% |
| Current assets | 29/58 | €40,101 | €12,713 | -€27,387 | -68.3% |
| Stocks and contracts in progress | 3 | €950 | - | -€950 | |
| Stocks | 30/36 | €950 | - | -€950 | |
| Amounts receivable within one year | 40/41 | €34,972 | €9,215 | -€25,757 | -73.7% |
| Trade receivables | 40 | €28,620 | €508 | -€28,111 | -98.2% |
| Other amounts receivable | 41 | €6,353 | €8,707 | +€2,354 | +37.1% |
| Cash at bank and in hand | 54/58 | €4,119 | €3,498 | -€620 | -15.1% |
| Deferred charges and accrued income | 490/1 | €60 | - | -€60 | |
| Total equity and liabilities | 10/49 | €58,612 | €23,489 | -€35,123 | -59.9% |
| Equity | 10/15 | €30,418 | €20,127 | -€10,291 | -33.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,218 | €13,927 | -€10,291 | -42.5% |
| Amounts payable | 17/49 | €28,193 | €3,362 | -€24,832 | -88.1% |
| Amounts payable within one year | 42/48 | €28,193 | €3,362 | -€24,832 | -88.1% |
| Trade debts | 44 | €27,053 | €3,362 | -€23,692 | -87.6% |
| Suppliers | 440/4 | €27,053 | €3,362 | -€23,692 | -87.6% |
| Taxes, remuneration and social security | 45 | €1,140 | - | -€1,140 | |
| Taxes | 450/3 | €1,140 | - | -€1,140 | |
| Non-recurring operating income | 76A | €9,100 | €1,704 | -€7,396 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,993 | €7,359 | -€5,634 | -43.4% |
| Other operating charges | 640/8 | €762 | €434 | -€328 | -43.1% |
| Non-recurring operating charges | 66A | €0 | €2,839 | +€2,838 | +1351661.9% |
| Gross operating margin | 9900 | €29,946 | €750 | -€29,196 | -97.5% |
| Operating profit (loss) | 9901 | €16,191 | -€9,882 | -€26,072 | |
| Financial income | 75/76B | - | €337 | +€337 | |
| Recurring financial income | 75 | - | €337 | +€337 | |
| Financial charges | 65/66B | €1,068 | €746 | -€321 | -30.1% |
| Recurring financial charges | 65 | €1,068 | €746 | -€321 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €15,123 | -€10,291 | -€25,414 | |
| Profit (loss) for the period | 9904 | €15,123 | -€10,291 | -€25,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,123 | -€10,291 | -€25,414 |
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 10 October 2026 via checked.be.