CARGOCOLD: what changed
Two fiscal 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.
CARGOCOLD
Largest movements
- Receivables within one year +€162,238
up €162,238 (+909.3%), from €17,841 to €180,080
of which Trade receivables: +€138,859
- Cash -€62,354
down €62,354 (-57.1%), from €109,139 to €46,785
mainly Receivables within one year (-€162,238) and Investment in fixed assets (net) (-€62,405)
- Tangible fixed assets +€52,010
new in 2025: €52,010
- Reserves +€100,329
up €100,329 (+123.3%), from €81,389 to €181,717
- Debts after one year +€21,527
new in 2025: €21,527
- Current portion of long-term debt +€16,652
new in 2025: €16,652
- Tax, wage and social debts +€11,041
up €11,041 (+31.1%), from €35,557 to €46,598
of which Taxes: +€10,876
- Trade debts +€3,326
up €3,326 (+474.5%), from €701 to €4,027
- Gross operating margin +€109,840
up €109,840 (+226.4%), from €48,523 to €158,363
- Taxes +€29,863
up €29,863 (+213.1%), from €14,014 to €43,876
- Depreciation +€10,395
up €10,395, from €0 to €10,395
- Financial charges +€1,717
up €1,717 (+668.7%), from €257 to €1,973
- Other operating charges +€1,675
up €1,675 (+1329.2%), from €126 to €1,801
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 | €126,980 | €280,018 | +€153,038 | +120.5% |
| Fixed assets | 21/28 | - | €52,010 | +€52,010 | |
| Tangible fixed assets | 22/27 | - | €52,010 | +€52,010 | |
| Furniture and vehicles | 24 | - | €52,010 | +€52,010 | |
| Current assets | 29/58 | €126,980 | €228,008 | +€101,028 | +79.6% |
| Amounts receivable within one year | 40/41 | €17,841 | €180,080 | +€162,238 | +909.3% |
| Trade receivables | 40 | €13,178 | €152,036 | +€138,859 | +1053.8% |
| Other amounts receivable | 41 | €4,664 | €28,043 | +€23,379 | +501.3% |
| Current investments | 50/53 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €109,139 | €46,785 | -€62,354 | -57.1% |
| Deferred charges and accrued income | 490/1 | - | €644 | +€644 | |
| Total equity and liabilities | 10/49 | €126,980 | €280,018 | +€153,038 | +120.5% |
| Equity | 10/15 | €83,889 | €184,217 | +€100,329 | +119.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €81,389 | €181,717 | +€100,329 | +123.3% |
| Distributable reserves | 133 | €81,389 | €181,717 | +€100,329 | +123.3% |
| Amounts payable | 17/49 | €43,092 | €95,801 | +€52,709 | +122.3% |
| Amounts payable after more than one year | 17 | - | €21,527 | +€21,527 | |
| Financial debts | 170/4 | - | €21,527 | +€21,527 | |
| Amounts payable within one year | 42/48 | €43,092 | €74,274 | +€31,182 | +72.4% |
| Current portion of amounts payable after more than one year | 42 | - | €16,652 | +€16,652 | |
| Trade debts | 44 | €701 | €4,027 | +€3,326 | +474.5% |
| Suppliers | 440/4 | €701 | €4,027 | +€3,326 | +474.5% |
| Taxes, remuneration and social security | 45 | €35,557 | €46,598 | +€11,041 | +31.1% |
| Taxes | 450/3 | €31,807 | €42,683 | +€10,876 | +34.2% |
| Remuneration and social security | 454/9 | €3,750 | €3,915 | +€165 | +4.4% |
| Other amounts payable | 47/48 | €6,834 | €6,997 | +€163 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €10,395 | +€10,395 | |
| Other operating charges | 640/8 | €126 | €1,801 | +€1,675 | +1329.2% |
| Gross operating margin | 9900 | €48,523 | €158,363 | +€109,840 | +226.4% |
| Operating profit (loss) | 9901 | €48,397 | €146,167 | +€97,770 | +202.0% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €257 | €1,973 | +€1,717 | +668.7% |
| Recurring financial charges | 65 | €257 | €1,973 | +€1,717 | +668.7% |
| Profit (loss) for the period before taxes | 9903 | €48,140 | €144,205 | +€96,064 | +199.6% |
| Income taxes | 67/77 | €14,014 | €43,876 | +€29,863 | +213.1% |
| Profit (loss) for the period | 9904 | €34,127 | €100,329 | +€66,202 | +194.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,127 | €100,329 | +€66,202 | +194.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.