CARGO SERVICE: 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 SERVICE
Largest movements
- Stocks and contracts -€53,555
down €53,555 (-47.1%), from €113,705 to €60,150
- Receivables within one year +€25,107
up €25,107 (+45.0%), from €55,737 to €80,845
of which Trade receivables: +€30,705
- Tangible fixed assets -€19,091
down €19,091 (-2.0%), from €942,145 to €923,054
of which Land and buildings: -€44,841
- Debts after one year -€65,081
down €65,081 (-9.6%), from €677,430 to €612,349
- Reserves +€64,227
up €64,227 (+20.2%), from €318,341 to €382,568
of which Distributable reserves: +€64,227
- Trade debts -€55,984
down €55,984 (-39.7%), from €141,151 to €85,167
- Other debts +€32,998
up €32,998 (+54.2%), from €60,910 to €93,908
- Short-term financial debts -€20,916
down €20,916 (-100%), from €20,916 to €0
- Gross operating margin -€78,635
down €78,635 (-17.0%), from €462,523 to €383,888
- Staff costs -€55,247
down €55,247 (-20.0%), from €276,347 to €221,100
- Taxes -€6,526
down €6,526 (-22.4%), from €29,096 to €22,571
- Depreciation +€6,031
up €6,031 (+13.2%), from €45,800 to €51,831
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 | €1,376,215 | €1,331,023 | -€45,192 | -3.3% |
| Fixed assets | 21/28 | €942,145 | €923,054 | -€19,091 | -2.0% |
| Tangible fixed assets | 22/27 | €942,145 | €923,054 | -€19,091 | -2.0% |
| Land and buildings | 22 | €939,006 | €894,165 | -€44,841 | -4.8% |
| Plant, machinery and equipment | 23 | €1,796 | €0 | -€1,796 | -100% |
| Furniture and vehicles | 24 | €1,342 | €28,889 | +€27,546 | +2,052% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €434,070 | €407,970 | -€26,101 | -6.0% |
| Stocks and contracts in progress | 3 | €113,705 | €60,150 | -€53,555 | -47.1% |
| Stocks | 30/36 | €113,705 | €60,150 | -€53,555 | -47.1% |
| Amounts receivable within one year | 40/41 | €55,737 | €80,845 | +€25,107 | +45.0% |
| Trade receivables | 40 | €19,040 | €49,745 | +€30,705 | +161% |
| Other amounts receivable | 41 | €36,697 | €31,100 | -€5,597 | -15.3% |
| Cash at bank and in hand | 54/58 | €264,628 | €266,975 | +€2,347 | +0.9% |
| Total equity and liabilities | 10/49 | €1,376,215 | €1,331,023 | -€45,192 | -3.3% |
| Equity | 10/15 | €383,341 | €447,568 | +€64,227 | +16.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €318,341 | €382,568 | +€64,227 | +20.2% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €311,841 | €376,068 | +€64,227 | +20.6% |
| Amounts payable | 17/49 | €992,874 | €883,455 | -€109,419 | -11.0% |
| Amounts payable after more than one year | 17 | €677,430 | €612,349 | -€65,081 | -9.6% |
| Financial debts | 170/4 | €677,430 | €612,349 | -€65,081 | -9.6% |
| Amounts payable within one year | 42/48 | €315,444 | €271,105 | -€44,338 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €64,221 | €65,081 | +€860 | +1.3% |
| Financial debts | 43 | €20,916 | €0 | -€20,916 | -100% |
| Other loans | 439 | €20,916 | €0 | -€20,916 | -100% |
| Trade debts | 44 | €141,151 | €85,167 | -€55,984 | -39.7% |
| Suppliers | 440/4 | €141,151 | €85,167 | -€55,984 | -39.7% |
| Taxes, remuneration and social security | 45 | €28,247 | €26,949 | -€1,297 | -4.6% |
| Taxes | 450/3 | €4,481 | €1,126 | -€3,354 | -74.9% |
| Remuneration and social security | 454/9 | €23,766 | €25,823 | +€2,057 | +8.7% |
| Other amounts payable | 47/48 | €60,910 | €93,908 | +€32,998 | +54.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €276,347 | €221,100 | -€55,247 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,800 | €51,831 | +€6,031 | +13.2% |
| Other operating charges | 640/8 | €9,262 | €9,529 | +€267 | +2.9% |
| Gross operating margin | 9900 | €462,523 | €383,888 | -€78,635 | -17.0% |
| Operating profit (loss) | 9901 | €131,114 | €101,428 | -€29,686 | -22.6% |
| Financial income | 75/76B | €705 | €625 | -€80 | -11.3% |
| Recurring financial income | 75 | €705 | €625 | -€80 | -11.3% |
| Financial charges | 65/66B | €15,764 | €15,256 | -€508 | -3.2% |
| Recurring financial charges | 65 | €15,764 | €14,256 | -€1,508 | -9.6% |
| Non-recurring financial charges | 66B | - | €1,000 | +€1,000 | |
| Profit (loss) for the period before taxes | 9903 | €116,056 | €86,798 | -€29,258 | -25.2% |
| Income taxes | 67/77 | €29,096 | €22,571 | -€6,526 | -22.4% |
| Profit (loss) for the period | 9904 | €86,959 | €64,227 | -€22,732 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €86,959 | €64,227 | -€22,732 | -26.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.