CARGO TEC: 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 TEC
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-66.8%), from €1.7m to €569,851
of which Trade receivables: -€1.4m
- Cash +€692,127
up €692,127 (+475%), from €145,582 to €837,709
mainly Receivables within one year (+€1.1m) and Net result for the year (+€509,412)
- Financial fixed assets +€595,154
up €595,154 (+410%), from €145,027 to €740,181
- Tangible fixed assets +€73,496
up €73,496 (+1,374%), from €5,351 to €78,847
of which Furniture and vehicles: +€73,922
- Trade debts -€551,704
down €551,704 (-68.8%), from €802,391 to €250,687
- Reserves +€509,000
up €509,000 (+96.0%), from €530,000 to €1.0m
- Advances received +€472,300
up €472,300 (+1,059%), from €44,605 to €516,905
- Debts after one year -€167,124
down €167,124 (-44.4%), from €376,278 to €209,154
of which Financial debts: -€167,124
- Tax, wage and social debts -€41,637
down €41,637 (-18.0%), from €231,162 to €189,525
of which Remuneration and social security: -€34,610
- Gross operating margin +€147,589
up €147,589 (+16.2%), from €909,378 to €1.1m
- Staff costs +€40,753
up €40,753 (+12.8%), from €317,160 to €357,913
- Taxes +€25,145
up €25,145 (+17.1%), from €147,168 to €172,313
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 | €2,010,770 | €2,228,410 | +€217,640 | +10.8% |
| Fixed assets | 21/28 | €150,378 | €819,028 | +€668,650 | +445% |
| Tangible fixed assets | 22/27 | €5,351 | €78,847 | +€73,496 | +1,374% |
| Furniture and vehicles | 24 | €4,214 | €78,136 | +€73,922 | +1,754% |
| Other tangible fixed assets | 26 | €1,137 | €711 | -€426 | -37.5% |
| Financial fixed assets | 28 | €145,027 | €740,181 | +€595,154 | +410% |
| Current assets | 29/58 | €1,860,392 | €1,409,382 | -€451,010 | -24.2% |
| Amounts receivable within one year | 40/41 | €1,714,810 | €569,851 | -€1.1m | -66.8% |
| Trade receivables | 40 | €1,583,172 | €207,401 | -€1.4m | -86.9% |
| Other amounts receivable | 41 | €131,638 | €362,450 | +€230,812 | +175% |
| Cash at bank and in hand | 54/58 | €145,582 | €837,709 | +€692,127 | +475% |
| Deferred charges and accrued income | 490/1 | - | €1,822 | +€1,822 | |
| Total equity and liabilities | 10/49 | €2,010,770 | €2,228,410 | +€217,640 | +10.8% |
| Equity | 10/15 | €550,978 | €1,060,390 | +€509,412 | +92.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €530,000 | €1,039,000 | +€509,000 | +96.0% |
| Distributable reserves | 133 | €530,000 | €1,039,000 | +€509,000 | +96.0% |
| Profit (loss) carried forward | 14 | €978 | €1,390 | +€412 | +42.1% |
| Amounts payable | 17/49 | €1,459,792 | €1,168,020 | -€291,772 | -20.0% |
| Amounts payable after more than one year | 17 | €376,278 | €209,154 | -€167,124 | -44.4% |
| Financial debts | 170/4 | €321,278 | €154,154 | -€167,124 | -52.0% |
| Other amounts payable | 178/9 | €55,000 | €55,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,081,034 | €957,117 | -€123,917 | -11.5% |
| Trade debts | 44 | €802,391 | €250,687 | -€551,704 | -68.8% |
| Suppliers | 440/4 | €802,391 | €250,687 | -€551,704 | -68.8% |
| Advances received on contracts in progress | 46 | €44,605 | €516,905 | +€472,300 | +1,059% |
| Taxes, remuneration and social security | 45 | €231,162 | €189,525 | -€41,637 | -18.0% |
| Taxes | 450/3 | €179,732 | €172,705 | -€7,027 | -3.9% |
| Remuneration and social security | 454/9 | €51,430 | €16,820 | -€34,610 | -67.3% |
| Other amounts payable | 47/48 | €2,876 | - | -€2,876 | |
| Accrued charges and deferred income | 492/3 | €2,480 | €1,749 | -€731 | -29.5% |
| Remuneration, social security and pensions | 62 | €317,160 | €357,913 | +€40,753 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,755 | €3,377 | +€1,622 | +92.4% |
| Other operating charges | 640/8 | €5,156 | €4,514 | -€642 | -12.5% |
| Gross operating margin | 9900 | €909,378 | €1,056,967 | +€147,589 | +16.2% |
| Operating profit (loss) | 9901 | €585,307 | €691,163 | +€105,856 | +18.1% |
| Financial income | 75/76B | €1,864 | €1,825 | -€39 | -2.1% |
| Recurring financial income | 75 | €1,864 | €1,825 | -€39 | -2.1% |
| Financial charges | 65/66B | €8,774 | €11,263 | +€2,489 | +28.4% |
| Recurring financial charges | 65 | €8,774 | €11,263 | +€2,489 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €578,397 | €681,725 | +€103,328 | +17.9% |
| Income taxes | 67/77 | €147,168 | €172,313 | +€25,145 | +17.1% |
| Profit (loss) for the period | 9904 | €431,229 | €509,412 | +€78,183 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €431,229 | €509,412 | +€78,183 | +18.1% |
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 14 October 2026 via checked.be.