Combined Logistic Services: 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.
Combined Logistic Services
Largest movements
- Cash +€288,616
up €288,616 (+216%), from €133,798 to €422,414
mainly Net result for the year (+€268,516) and Receivables within one year (+€46,358)
- Receivables within one year -€46,358
down €46,358 (-15.7%), from €295,239 to €248,882
of which Trade receivables: -€47,857
- Deferred charges and accrued income -€23,751
down €23,751 (-78.0%), from €30,433 to €6,682
- Reserves +€268,516
up €268,516 (+100%), from €267,247 to €535,763
of which Distributable reserves: +€268,516
- Trade debts -€81,215
down €81,215 (-45.8%), from €177,507 to €96,291
- Accrued charges and deferred income +€21,769
new in 2025: €21,769
- Gross operating margin +€180,869
up €180,869 (+80.7%), from €224,148 to €405,017
- Taxes +€36,268
up €36,268 (+68.4%), from €53,005 to €89,273
- Staff costs +€11,952
new in 2025: €11,952
- Financial charges +€11,103
up €11,103 (+105%), from €10,622 to €21,725
- Financial income -€7,569
down €7,569 (-81.9%), from €9,243 to €1,673
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 | €506,254 | €717,407 | +€211,153 | +41.7% |
| Fixed assets | 21/28 | €46,784 | €39,430 | -€7,354 | -15.7% |
| Intangible fixed assets | 21 | €5,201 | €3,449 | -€1,751 | -33.7% |
| Tangible fixed assets | 22/27 | €41,584 | €35,981 | -€5,603 | -13.5% |
| Land and buildings | 22 | €41,584 | - | -€41,584 | |
| Plant, machinery and equipment | 23 | - | €6,530 | +€6,530 | |
| Furniture and vehicles | 24 | - | €29,450 | +€29,450 | |
| Current assets | 29/58 | €459,470 | €677,978 | +€218,508 | +47.6% |
| Amounts receivable within one year | 40/41 | €295,239 | €248,882 | -€46,358 | -15.7% |
| Trade receivables | 40 | €276,772 | €228,915 | -€47,857 | -17.3% |
| Other amounts receivable | 41 | €18,468 | €19,967 | +€1,499 | +8.1% |
| Cash at bank and in hand | 54/58 | €133,798 | €422,414 | +€288,616 | +216% |
| Deferred charges and accrued income | 490/1 | €30,433 | €6,682 | -€23,751 | -78.0% |
| Total equity and liabilities | 10/49 | €506,254 | €717,407 | +€211,153 | +41.7% |
| Equity | 10/15 | €328,747 | €597,263 | +€268,516 | +81.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €267,247 | €535,763 | +€268,516 | +100% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €261,097 | €529,613 | +€268,516 | +103% |
| Amounts payable | 17/49 | €177,507 | €120,144 | -€57,363 | -32.3% |
| Amounts payable within one year | 42/48 | €177,507 | €98,375 | -€79,131 | -44.6% |
| Trade debts | 44 | €177,507 | €96,291 | -€81,215 | -45.8% |
| Suppliers | 440/4 | €177,507 | €96,291 | -€81,215 | -45.8% |
| Taxes, remuneration and social security | 45 | - | €2,084 | +€2,084 | |
| Taxes | 450/3 | - | €199 | +€199 | |
| Remuneration and social security | 454/9 | - | €1,885 | +€1,885 | |
| Accrued charges and deferred income | 492/3 | - | €21,769 | +€21,769 | |
| Remuneration, social security and pensions | 62 | - | €11,952 | +€11,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,265 | €12,599 | +€334 | +2.7% |
| Other operating charges | 640/8 | €1,341 | €2,627 | +€1,286 | +95.9% |
| Gross operating margin | 9900 | €224,148 | €405,017 | +€180,869 | +80.7% |
| Operating profit (loss) | 9901 | €210,542 | €377,840 | +€167,298 | +79.5% |
| Financial income | 75/76B | €9,243 | €1,673 | -€7,569 | -81.9% |
| Recurring financial income | 75 | €9,243 | €1,673 | -€7,569 | -81.9% |
| Financial charges | 65/66B | €10,622 | €21,725 | +€11,103 | +105% |
| Recurring financial charges | 65 | €10,622 | €21,725 | +€11,103 | +105% |
| Profit (loss) for the period before taxes | 9903 | €209,163 | €357,788 | +€148,626 | +71.1% |
| Income taxes | 67/77 | €53,005 | €89,273 | +€36,268 | +68.4% |
| Profit (loss) for the period | 9904 | €156,158 | €268,516 | +€112,358 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €156,158 | €268,516 | +€112,358 | +72.0% |
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.