CargoFlow: 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.
CargoFlow
Largest movements
- Cash -€35,228
down €35,228 (-38.1%), from €92,345 to €57,118
mainly Accrued charges and deferred income (-€54,886) and Trade debts (-€18,891)
- Receivables within one year -€9,726
down €9,726 (-7.0%), from €138,428 to €128,702
of which Trade receivables: -€36,573
- Tangible fixed assets -€5,934
down €5,934 (-34.4%), from €17,246 to €11,312
of which Leasing and similar rights: -€8,326
- Accrued charges and deferred income -€54,886
down €54,886 (-100.0%), from €54,886 to €0
- Reserves +€32,519
up €32,519 (+210.2%), from €15,468 to €47,988
of which Distributable reserves: +€32,519
- Trade debts -€18,891
down €18,891 (-91.6%), from €20,619 to €1,727
- Current portion of long-term debt -€7,866
down €7,866 (-100.0%), from €7,866 to €0
- Gross operating margin -€32,650
down €32,650 (-34.6%), from €94,406 to €61,756
- Taxes -€8,081
down €8,081 (-28.2%), from €28,678 to €20,597
- Financial charges -€5,132
down €5,132 (-88.6%), from €5,793 to €661
- Financial income +€1,724
up €1,724 (+48.0%), from €3,593 to €5,318
- Staff costs -€1,494
down €1,494 (-36.4%), from €4,100 to €2,606
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 | €249,490 | €198,633 | -€50,856 | -20.4% |
| Fixed assets | 21/28 | €17,246 | €11,312 | -€5,934 | -34.4% |
| Tangible fixed assets | 22/27 | €17,246 | €11,312 | -€5,934 | -34.4% |
| Furniture and vehicles | 24 | €2,259 | €4,651 | +€2,392 | +105.9% |
| Leasing and similar rights | 25 | €14,987 | €6,661 | -€8,326 | -55.6% |
| Current assets | 29/58 | €232,244 | €187,322 | -€44,922 | -19.3% |
| Amounts receivable within one year | 40/41 | €138,428 | €128,702 | -€9,726 | -7.0% |
| Trade receivables | 40 | €64,466 | €27,892 | -€36,573 | -56.7% |
| Other amounts receivable | 41 | €73,962 | €100,810 | +€26,848 | +36.3% |
| Cash at bank and in hand | 54/58 | €92,345 | €57,118 | -€35,228 | -38.1% |
| Deferred charges and accrued income | 490/1 | €1,471 | €1,502 | +€31 | +2.1% |
| Total equity and liabilities | 10/49 | €249,490 | €198,633 | -€50,856 | -20.4% |
| Equity | 10/15 | €164,386 | €196,906 | +€32,519 | +19.8% |
| Contributions | 10/11 | €43,000 | €43,000 | = | 0.0% |
| Reserves | 13 | €15,468 | €47,988 | +€32,519 | +210.2% |
| Non-distributable reserves | 130/1 | €4,300 | €4,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,300 | €4,300 | = | 0.0% |
| Distributable reserves | 133 | €11,168 | €43,688 | +€32,519 | +291.2% |
| Profit (loss) carried forward | 14 | €105,918 | €105,918 | = | 0.0% |
| Amounts payable | 17/49 | €85,103 | €1,727 | -€83,376 | -98.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €30,217 | €1,727 | -€28,490 | -94.3% |
| Current portion of amounts payable after more than one year | 42 | €7,866 | €0 | -€7,866 | -100.0% |
| Trade debts | 44 | €20,619 | €1,727 | -€18,891 | -91.6% |
| Suppliers | 440/4 | €20,619 | €1,727 | -€18,891 | -91.6% |
| Taxes, remuneration and social security | 45 | €1,732 | €0 | -€1,732 | -100.0% |
| Taxes | 450/3 | €1,732 | €0 | -€1,732 | -100.0% |
| Accrued charges and deferred income | 492/3 | €54,886 | €0 | -€54,886 | -100.0% |
| Remuneration, social security and pensions | 62 | €4,100 | €2,606 | -€1,494 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,550 | €9,391 | -€159 | -1.7% |
| Other operating charges | 640/8 | €1,263 | €1,299 | +€36 | +2.9% |
| Gross operating margin | 9900 | €94,406 | €61,756 | -€32,650 | -34.6% |
| Operating profit (loss) | 9901 | €79,493 | €48,460 | -€31,033 | -39.0% |
| Financial income | 75/76B | €3,593 | €5,318 | +€1,724 | +48.0% |
| Recurring financial income | 75 | €3,593 | €5,318 | +€1,724 | +48.0% |
| Financial charges | 65/66B | €5,793 | €661 | -€5,132 | -88.6% |
| Recurring financial charges | 65 | €5,793 | €661 | -€5,132 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | €77,293 | €53,117 | -€24,177 | -31.3% |
| Income taxes | 67/77 | €28,678 | €20,597 | -€8,081 | -28.2% |
| Profit (loss) for the period | 9904 | €48,615 | €32,519 | -€16,096 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,615 | €32,519 | -€16,096 | -33.1% |
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 6 October 2026 via checked.be.