DFDS Belgium: 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
DFDS Belgium
NACE 52.220, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€8.1m
2024 · -€3.2m-€5.0m
Equity
€24.3m
2024 · €32.5m-€8.2m
Cash
€1,750
2024 · €1,750
Balance sheet total
€61.6m
2024 · €68.4m-€6.8m
Largest movements
Assets
- Receivables within one year -€5.8m
down €5.8m (-10.6%), from €54.3m to €48.5m
of which Trade receivables: -€9.4m
- Tangible fixed assets -€972,760
down €972,760 (-7.2%), from €13.6m to €12.6m
of which Other tangible fixed assets: -€905,670
Equity and liabilities
- Reserves -€8.1m
down €8.1m (-27.5%), from €29.5m to €21.4m
of which Distributable reserves: -€8.1m
- Trade debts -€2.1m
down €2.1m (-6.6%), from €31.6m to €29.5m
- Other debts +€2.0m
up €2.0m (+518%), from €382,728 to €2.4m
- Tax, wage and social debts +€1.8m
up €1.8m (+76.0%), from €2.4m to €4.3m
of which Remuneration and social security: +€1.8m
Income statement
- Turnover +€13.4m
up €13.4m (+8.9%), from €149.7m to €163.1m
- Goods and materials +€8.5m
up €8.5m (+8.7%), from €98.2m to €106.7m
- Services and other goods +€4.7m
up €4.7m (+12.3%), from €37.9m to €42.6m
- Staff costs +€3.7m
up €3.7m (+20.7%), from €17.9m to €21.6m
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
-€3.2m
Turnover
+€13.4m
Other operating income
-€123,920
Goods and materials
-€8.5m
Services and other goods
-€4.7m
Staff costs
-€3.7m
Depreciation
-€128,169
Write-downs
-€116,627
Provisions
+€123,329
Other operating charges
-€320,228
Other operating items
-€17,136
Financial income
-€509,275
Financial charges
-€309,956
Taxes
-€43,776
Deferred taxes and other
-€80
Result 2025
-€8.1m
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.3m
Investment
-€1.2m
Financing
-€163,960
Cash 2024
€1,750
From operations (derived)
+€1.3m
Net result for the year
-€8.1m
Depreciation
+€2.1m
Receivables within one year
+€5.8m
Deferred charges and accrued income
+€47,969
Provisions
-€249,164
Trade debts
-€2.1m
Tax, wage and social debts
+€1.8m
Other debts
+€2.0m
Accrued charges and deferred income
+€14,945
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€163,960
Debts after one year
-€107,286
Current portion of long-term debt
+€5,916
Contributions, distributions and other
-€62,590
Cash 2025
€1,750
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,429,337 | €61,648,830 | -€6.8m | -9.9% |
| Fixed assets | 21/28 | €13,730,354 | €12,760,834 | -€969,520 | -7.1% |
| Intangible fixed assets | 21 | €1,364 | €324 | -€1,040 | -76.2% |
| Tangible fixed assets | 22/27 | €13,581,017 | €12,608,257 | -€972,760 | -7.2% |
| Plant, machinery and equipment | 23 | €673,649 | €483,761 | -€189,888 | -28.2% |
| Furniture and vehicles | 24 | €4,418,766 | €4,637,508 | +€218,743 | +5.0% |
| Leasing and similar rights | 25 | €489,910 | €383,021 | -€106,890 | -21.8% |
| Other tangible fixed assets | 26 | €7,670,287 | €6,764,617 | -€905,670 | -11.8% |
| Assets under construction and advance payments | 27 | €328,405 | €339,350 | +€10,944 | +3.3% |
| Financial fixed assets | 28 | €147,973 | €152,253 | +€4,280 | +2.9% |
| Other financial fixed assets | 284/8 | €147,973 | €152,253 | +€4,280 | +2.9% |
| Amounts receivable and cash guarantees | 285/8 | €147,973 | €152,253 | +€4,280 | +2.9% |
| Current assets | 29/58 | €54,698,983 | €48,887,996 | -€5.8m | -10.6% |
| Amounts receivable within one year | 40/41 | €54,297,020 | €48,534,002 | -€5.8m | -10.6% |
| Trade receivables | 40 | €29,190,075 | €19,774,464 | -€9.4m | -32.3% |
| Other amounts receivable | 41 | €25,106,945 | €28,759,538 | +€3.7m | +14.5% |
| Cash at bank and in hand | 54/58 | €1,750 | €1,750 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €400,213 | €352,244 | -€47,969 | -12.0% |
| Total equity and liabilities | 10/49 | €68,429,337 | €61,648,830 | -€6.8m | -9.9% |
| Equity | 10/15 | €32,529,634 | €24,342,986 | -€8.2m | -25.2% |
| Contributions | 10/11 | €2,355,976 | €2,355,976 | = | 0.0% |
| Capital | 10 | €2,355,976 | €2,355,976 | = | 0.0% |
| Issued capital | 100 | €2,355,976 | €2,355,976 | = | 0.0% |
| Reserves | 13 | €29,510,359 | €21,386,300 | -€8.1m | -27.5% |
| Non-distributable reserves | 130/1 | €235,598 | €235,598 | = | 0.0% |
| Legal reserve | 130 | €235,598 | €235,598 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,644,728 | €2,644,728 | = | 0.0% |
| Distributable reserves | 133 | €26,630,033 | €18,505,975 | -€8.1m | -30.5% |
| Investment grants | 15 | €663,300 | €600,710 | -€62,590 | -9.4% |
| Provisions and deferred taxes | 16 | €960,593 | €711,429 | -€249,164 | -25.9% |
| Provisions for liabilities and charges | 160/5 | €791,517 | €551,662 | -€239,855 | -30.3% |
| Major repairs and maintenance | 162 | €39,350 | €39,350 | = | 0.0% |
| Other liabilities and charges | 164/5 | €752,168 | €512,313 | -€239,855 | -31.9% |
| Deferred taxes | 168 | €169,076 | €159,767 | -€9,310 | -5.5% |
| Amounts payable | 17/49 | €34,939,110 | €36,594,415 | +€1.7m | +4.7% |
| Amounts payable after more than one year | 17 | €403,700 | €296,414 | -€107,286 | -26.6% |
| Financial debts | 170/4 | €403,700 | €296,414 | -€107,286 | -26.6% |
| Leasing and similar obligations | 172 | €403,700 | €296,414 | -€107,286 | -26.6% |
| Amounts payable within one year | 42/48 | €34,480,903 | €36,228,550 | +€1.7m | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €101,370 | €107,286 | +€5,916 | +5.8% |
| Trade debts | 44 | €31,567,739 | €29,479,557 | -€2.1m | -6.6% |
| Suppliers | 440/4 | €31,567,739 | €29,479,557 | -€2.1m | -6.6% |
| Taxes, remuneration and social security | 45 | €2,429,066 | €4,276,006 | +€1.8m | +76.0% |
| Taxes | 450/3 | €456,628 | €477,744 | +€21,116 | +4.6% |
| Remuneration and social security | 454/9 | €1,972,438 | €3,798,262 | +€1.8m | +92.6% |
| Other amounts payable | 47/48 | €382,728 | €2,365,701 | +€2.0m | +518% |
| Accrued charges and deferred income | 492/3 | €54,507 | €69,452 | +€14,945 | +27.4% |
| Operating income | 70/76A | €154,099,704 | €167,380,403 | +€13.3m | +8.6% |
| Turnover | 70 | €149,716,452 | €163,103,710 | +€13.4m | +8.9% |
| Other operating income | 74 | €4,356,493 | €4,232,573 | -€123,920 | -2.8% |
| Non-recurring operating income | 76A | €26,760 | €44,120 | +€17,360 | +64.9% |
| Operating charges | 60/66A | €158,180,222 | €175,568,918 | +€17.4m | +11.0% |
| Goods for resale, raw materials and consumables | 60 | €98,205,707 | €106,735,433 | +€8.5m | +8.7% |
| Purchases | 600/8 | €98,205,707 | €106,735,433 | +€8.5m | +8.7% |
| Services and other goods | 61 | €37,941,884 | €42,623,222 | +€4.7m | +12.3% |
| Remuneration, social security and pensions | 62 | €17,859,075 | €21,560,516 | +€3.7m | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,019,987 | €2,148,156 | +€128,169 | +6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€195,972 | -€79,345 | +€116,627 | +59.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€116,526 | -€239,855 | -€123,329 | -106% |
| Other operating charges | 640/8 | €2,455,300 | €2,775,529 | +€320,228 | +13.0% |
| Non-recurring operating charges | 66A | €10,767 | €45,262 | +€34,496 | +320% |
| Operating profit (loss) | 9901 | -€4,080,518 | -€8,188,515 | -€4.1m | -101% |
| Financial income | 75/76B | €1,080,813 | €571,538 | -€509,275 | -47.1% |
| Recurring financial income | 75 | €1,080,813 | €571,538 | -€509,275 | -47.1% |
| Income from current assets | 751 | €757,243 | €392,454 | -€364,788 | -48.2% |
| Other financial income | 752/9 | €323,570 | €179,084 | -€144,487 | -44.7% |
| Financial charges | 65/66B | €233,234 | €543,190 | +€309,956 | +133% |
| Recurring financial charges | 65 | €233,234 | €543,190 | +€309,956 | +133% |
| Debt charges | 650 | €56,567 | €43,051 | -€13,516 | -23.9% |
| Other financial charges | 652/9 | €176,667 | €500,140 | +€323,473 | +183% |
| Profit (loss) for the period before taxes | 9903 | -€3,232,938 | -€8,160,167 | -€4.9m | -152% |
| Transfer from deferred taxes | 780 | €9,390 | €9,310 | -€80 | -0.9% |
| Income taxes | 67/77 | -€70,574 | -€26,799 | +€43,776 | +62.0% |
| Taxes | 670/3 | €54,469 | €14,053 | -€40,416 | -74.2% |
| Tax adjustments and reversals of tax provisions | 77 | €125,043 | €40,851 | -€84,191 | -67.3% |
| Profit (loss) for the period | 9904 | -€3,152,974 | -€8,124,059 | -€5.0m | -158% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,152,974 | -€8,124,059 | -€5.0m | -158% |
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 18 October 2026 via checked.be.