DBF Forwarding and Warehousing: 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.
DBF Forwarding and Warehousing
Largest movements
- Receivables within one year -€36,077
down €36,077 (-26.4%), from €136,563 to €100,486
of which Trade receivables: -€44,051
- Cash +€33,060
up €33,060 (+31.6%), from €104,684 to €137,744
mainly Receivables within one year (+€36,077) and Depreciation (+€31,751)
- Tangible fixed assets -€31,751
down €31,751 (-29.6%), from €107,407 to €75,656
of which Furniture and vehicles: -€29,355
- Deferred charges and accrued income -€4,871
down €4,871 (-14.4%), from €33,841 to €28,969
- Trade debts -€40,041
down €40,041 (-25.9%), from €154,640 to €114,599
- Debts after one year -€25,570
down €25,570 (-36.2%), from €70,733 to €45,163
- Reserves +€10,279
up €10,279 (+8.5%), from €120,347 to €130,626
- Tax, wage and social debts +€9,676
up €9,676 (+72.8%), from €13,292 to €22,968
of which Taxes: +€10,857
- Accrued charges and deferred income +€4,930
up €4,930, from €0 to €4,930
- Gross operating margin +€37,676
up €37,676 (+33.5%), from €112,505 to €150,182
- Staff costs +€30,022
up €30,022 (+43.8%), from €68,563 to €98,585
- Taxes -€3,173
down €3,173 (-75.6%), from €4,196 to €1,023
- Depreciation -€2,764
down €2,764 (-8.0%), from €34,515 to €31,751
- Other operating charges -€2,317
down €2,317 (-38.0%), from €6,102 to €3,785
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 | €388,494 | €348,855 | -€39,639 | -10.2% |
| Fixed assets | 21/28 | €113,407 | €81,656 | -€31,751 | -28.0% |
| Tangible fixed assets | 22/27 | €107,407 | €75,656 | -€31,751 | -29.6% |
| Plant, machinery and equipment | 23 | €9,254 | €6,858 | -€2,396 | -25.9% |
| Furniture and vehicles | 24 | €98,153 | €68,798 | -€29,355 | -29.9% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €275,087 | €267,199 | -€7,888 | -2.9% |
| Amounts receivable within one year | 40/41 | €136,563 | €100,486 | -€36,077 | -26.4% |
| Trade receivables | 40 | €125,621 | €81,570 | -€44,051 | -35.1% |
| Other amounts receivable | 41 | €10,942 | €18,916 | +€7,974 | +72.9% |
| Cash at bank and in hand | 54/58 | €104,684 | €137,744 | +€33,060 | +31.6% |
| Deferred charges and accrued income | 490/1 | €33,841 | €28,969 | -€4,871 | -14.4% |
| Total equity and liabilities | 10/49 | €388,494 | €348,855 | -€39,639 | -10.2% |
| Equity | 10/15 | €125,347 | €135,626 | +€10,279 | +8.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,347 | €130,626 | +€10,279 | +8.5% |
| Distributable reserves | 133 | €120,347 | €130,626 | +€10,279 | +8.5% |
| Amounts payable | 17/49 | €263,148 | €213,229 | -€49,918 | -19.0% |
| Amounts payable after more than one year | 17 | €70,733 | €45,163 | -€25,570 | -36.2% |
| Financial debts | 170/4 | €70,733 | €45,163 | -€25,570 | -36.2% |
| Amounts payable within one year | 42/48 | €192,415 | €163,136 | -€29,279 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €24,483 | €25,570 | +€1,086 | +4.4% |
| Trade debts | 44 | €154,640 | €114,599 | -€40,041 | -25.9% |
| Suppliers | 440/4 | €154,640 | €114,599 | -€40,041 | -25.9% |
| Taxes, remuneration and social security | 45 | €13,292 | €22,968 | +€9,676 | +72.8% |
| Taxes | 450/3 | €3,654 | €14,511 | +€10,857 | +297% |
| Remuneration and social security | 454/9 | €9,637 | €8,457 | -€1,181 | -12.3% |
| Accrued charges and deferred income | 492/3 | €0 | €4,930 | +€4,930 | |
| Non-recurring operating income | 76A | €9,404 | €0 | -€9,404 | -100% |
| Remuneration, social security and pensions | 62 | €68,563 | €98,585 | +€30,022 | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,515 | €31,751 | -€2,764 | -8.0% |
| Other operating charges | 640/8 | €6,102 | €3,785 | -€2,317 | -38.0% |
| Non-recurring operating charges | 66A | €300 | €0 | -€300 | -100% |
| Gross operating margin | 9900 | €112,505 | €150,182 | +€37,676 | +33.5% |
| Operating profit (loss) | 9901 | €3,025 | €16,061 | +€13,036 | +431% |
| Financial income | 75/76B | €31 | €122 | +€91 | +296% |
| Recurring financial income | 75 | €31 | €122 | +€91 | +296% |
| Financial charges | 65/66B | €5,550 | €4,881 | -€669 | -12.1% |
| Recurring financial charges | 65 | €5,550 | €4,881 | -€669 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,494 | €11,302 | +€13,796 | |
| Income taxes | 67/77 | €4,196 | €1,023 | -€3,173 | -75.6% |
| Profit (loss) for the period | 9904 | -€6,691 | €10,279 | +€16,970 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,691 | €10,279 | +€16,970 |
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 29 October 2026 via checked.be.