DEURGANCK LOGISTIC CENTER: 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.
What changed
DEURGANCK LOGISTIC CENTER
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€177,493
2024 · €225,886-€48,393
Equity
€766,283
2024 · €588,790+€177,493
Cash
€136,295
2024 · €100,591+€35,704
Balance sheet total
€11.0m
2024 · €1.7m+€9.3m
Largest movements
Assets
- Tangible fixed assets +€9.3m
up €9.3m (+954%), from €978,883 to €10.3m
of which Assets under construction and advance payments: +€9.4m
Equity and liabilities
- Short-term financial debts +€9.1m
new in 2025: €9.1m
- Other debts +€710,544
new in 2025: €710,544
- Trade debts -€640,960
down €640,960 (-93.3%), from €686,833 to €45,873
- Profit (loss) carried forward +€177,493
up €177,493 (+68.6%), from €258,790 to €436,283
Income statement
- Financial charges +€111,855
up €111,855 (+1,536%), from €7,285 to €119,140
- Gross operating margin +€54,952
up €54,952 (+15.2%), from €361,687 to €416,638
- Taxes -€15,833
down €15,833 (-20.9%), from €75,583 to €59,750
- Financial income -€5,928
down €5,928 (-31.3%), from €18,940 to €13,011
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.
Result 2024
€225,886
Gross operating margin
+€54,952
Depreciation
-€1,006
Other operating charges
-€387
Financial income
-€5,928
Financial charges
-€111,855
Taxes
+€15,833
Result 2025
€177,493
raises the resultlowers the result
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.
From operations
+€433,984
Investment
-€9.4m
Financing
+€9.0m
Cash 2024
€100,591
From operations (derived)
+€433,984
Net result for the year
+€177,493
Depreciation
+€68,709
Smaller working-capital items
+€9,054
Receivables within one year
+€80,455
Trade debts
-€640,960
Other debts
+€710,544
Accrued charges and deferred income
+€28,689
Investment (derived)
-€9.4m
Investment in fixed assets (net)
-€9.4m
Financing
+€9.0m
Debts after one year
-€54,367
Current portion of long-term debt
+€1,261
Short-term financial debts
+€9.1m
Cash 2025
€136,295
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,675,156 | €10,956,477 | +€9.3m | +554% |
| Fixed assets | 21/28 | €978,883 | €10,318,411 | +€9.3m | +954% |
| Tangible fixed assets | 22/27 | €978,883 | €10,318,411 | +€9.3m | +954% |
| Land and buildings | 22 | €100,496 | €84,289 | -€16,207 | -16.1% |
| Leasing and similar rights | 25 | €259,489 | €206,987 | -€52,502 | -20.2% |
| Other tangible fixed assets | 26 | €8,000 | €8,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €610,898 | €10,019,135 | +€9.4m | +1,540% |
| Current assets | 29/58 | €696,273 | €638,067 | -€58,206 | -8.4% |
| Stocks and contracts in progress | 3 | €13,455 | - | -€13,455 | |
| Stocks | 30/36 | €13,455 | - | -€13,455 | |
| Amounts receivable within one year | 40/41 | €411,088 | €330,632 | -€80,455 | -19.6% |
| Trade receivables | 40 | €382,981 | €263,885 | -€119,096 | -31.1% |
| Other amounts receivable | 41 | €28,107 | €66,748 | +€38,641 | +137% |
| Cash at bank and in hand | 54/58 | €100,591 | €136,295 | +€35,704 | +35.5% |
| Deferred charges and accrued income | 490/1 | €171,139 | €171,139 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €1,675,156 | €10,956,477 | +€9.3m | +554% |
| Equity | 10/15 | €588,790 | €766,283 | +€177,493 | +30.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €258,790 | €436,283 | +€177,493 | +68.6% |
| Amounts payable | 17/49 | €1,086,366 | €10,190,194 | +€9.1m | +838% |
| Amounts payable after more than one year | 17 | €220,425 | €166,059 | -€54,367 | -24.7% |
| Financial debts | 170/4 | €220,425 | €166,059 | -€54,367 | -24.7% |
| Amounts payable within one year | 42/48 | €747,839 | €9,877,345 | +€9.1m | +1,221% |
| Current portion of amounts payable after more than one year | 42 | €53,105 | €54,367 | +€1,261 | +2.4% |
| Financial debts | 43 | - | €9,063,062 | +€9.1m | |
| Credit institutions | 430/8 | - | €9,063,062 | +€9.1m | |
| Trade debts | 44 | €686,833 | €45,873 | -€640,960 | -93.3% |
| Suppliers | 440/4 | €686,833 | €45,873 | -€640,960 | -93.3% |
| Taxes, remuneration and social security | 45 | €7,901 | €3,500 | -€4,401 | -55.7% |
| Taxes | 450/3 | €7,901 | €3,500 | -€4,401 | -55.7% |
| Other amounts payable | 47/48 | - | €710,544 | +€710,544 | |
| Accrued charges and deferred income | 492/3 | €118,102 | €146,791 | +€28,689 | +24.3% |
| Non-recurring operating income | 76A | - | €7,821 | +€7,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,702 | €68,709 | +€1,006 | +1.5% |
| Other operating charges | 640/8 | €4,171 | €4,558 | +€387 | +9.3% |
| Gross operating margin | 9900 | €361,687 | €416,638 | +€54,952 | +15.2% |
| Operating profit (loss) | 9901 | €289,814 | €343,371 | +€53,558 | +18.5% |
| Financial income | 75/76B | €18,940 | €13,011 | -€5,928 | -31.3% |
| Recurring financial income | 75 | €18,940 | €13,011 | -€5,928 | -31.3% |
| Financial charges | 65/66B | €7,285 | €119,140 | +€111,855 | +1,536% |
| Recurring financial charges | 65 | €7,285 | €119,140 | +€111,855 | +1,536% |
| Profit (loss) for the period before taxes | 9903 | €301,469 | €237,243 | -€64,225 | -21.3% |
| Income taxes | 67/77 | €75,583 | €59,750 | -€15,833 | -20.9% |
| Profit (loss) for the period | 9904 | €225,886 | €177,493 | -€48,393 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €225,886 | €177,493 | -€48,393 | -21.4% |
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 30 October 2026 via checked.be.