Drewes Logistics: 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.
Drewes Logistics
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+136%), from €1.2m to €2.8m
of which Trade receivables: +€1.6m
- Cash +€351,820
up €351,820 (+1,065%), from €33,028 to €384,848
mainly Trade debts (+€1.6m) and Short-term financial debts (+€186,781)
- Tangible fixed assets -€47,346
down €47,346 (-27.3%), from €173,475 to €126,129
of which Other tangible fixed assets: -€44,361
- Trade debts +€1.6m
up €1.6m (+224%), from €693,371 to €2.2m
- Short-term financial debts +€186,781
up €186,781 (+33.7%), from €554,999 to €741,780
of which Other loans: +€171,780
- Profit (loss) carried forward +€169,932
up €169,932 (+43.2%), from -€393,648 to -€223,716
- Tax, wage and social debts -€79,991
down €79,991 (-53.4%), from €149,798 to €69,807
of which Remuneration and social security: -€72,772
- Accrued charges and deferred income +€71,780
up €71,780, from €0 to €71,780
- Write-downs +€278,290
new in 2025: €278,290
- Staff costs -€231,353
down €231,353 (-28.1%), from €822,341 to €590,988
- Gross operating margin +€106,446
up €106,446 (+10.0%), from €1.1m to €1.2m
- Financial charges +€43,934
up €43,934 (+72.9%), from €60,283 to €104,217
- Depreciation -€14,395
down €14,395 (-19.2%), from €75,014 to €60,619
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 | €1,460,311 | €3,362,685 | +€1.9m | +130% |
| Fixed assets | 21/28 | €221,226 | €160,607 | -€60,619 | -27.4% |
| Intangible fixed assets | 21 | €47,751 | €34,478 | -€13,274 | -27.8% |
| Tangible fixed assets | 22/27 | €173,475 | €126,129 | -€47,346 | -27.3% |
| Furniture and vehicles | 24 | €2,984 | €0 | -€2,984 | -100% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €170,491 | €126,129 | -€44,361 | -26.0% |
| Current assets | 29/58 | €1,239,085 | €3,202,078 | +€2.0m | +158% |
| Amounts receivable within one year | 40/41 | €1,190,885 | €2,810,581 | +€1.6m | +136% |
| Trade receivables | 40 | €1,158,004 | €2,783,476 | +€1.6m | +140% |
| Other amounts receivable | 41 | €32,881 | €27,106 | -€5,775 | -17.6% |
| Cash at bank and in hand | 54/58 | €33,028 | €384,848 | +€351,820 | +1,065% |
| Deferred charges and accrued income | 490/1 | €15,172 | €6,649 | -€8,523 | -56.2% |
| Total equity and liabilities | 10/49 | €1,460,311 | €3,362,685 | +€1.9m | +130% |
| Equity | 10/15 | €62,143 | €232,074 | +€169,932 | +273% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €437,191 | €437,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €435,331 | €435,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€393,648 | -€223,716 | +€169,932 | +43.2% |
| Amounts payable | 17/49 | €1,398,168 | €3,130,611 | +€1.7m | +124% |
| Amounts payable within one year | 42/48 | €1,398,168 | €3,058,831 | +€1.7m | +119% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €554,999 | €741,780 | +€186,781 | +33.7% |
| Credit institutions | 430/8 | €54,999 | €70,000 | +€15,001 | +27.3% |
| Other loans | 439 | €500,000 | €671,780 | +€171,780 | +34.4% |
| Trade debts | 44 | €693,371 | €2,247,244 | +€1.6m | +224% |
| Suppliers | 440/4 | €693,371 | €2,247,244 | +€1.6m | +224% |
| Taxes, remuneration and social security | 45 | €149,798 | €69,807 | -€79,991 | -53.4% |
| Taxes | 450/3 | €10,594 | €3,376 | -€7,219 | -68.1% |
| Remuneration and social security | 454/9 | €139,204 | €66,432 | -€72,772 | -52.3% |
| Accrued charges and deferred income | 492/3 | €0 | €71,780 | +€71,780 | |
| Non-recurring operating income | 76A | €9,523 | €0 | -€9,523 | -100% |
| Remuneration, social security and pensions | 62 | €822,341 | €590,988 | -€231,353 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,014 | €60,619 | -€14,395 | -19.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €278,290 | +€278,290 | |
| Other operating charges | 640/8 | €3,838 | €2,416 | -€1,422 | -37.0% |
| Gross operating margin | 9900 | €1,065,616 | €1,172,061 | +€106,446 | +10.0% |
| Operating profit (loss) | 9901 | €164,422 | €239,748 | +€75,326 | +45.8% |
| Financial income | 75/76B | €40,431 | €34,994 | -€5,437 | -13.4% |
| Recurring financial income | 75 | €38,431 | €34,994 | -€3,437 | -8.9% |
| Non-recurring financial income | 76B | €2,000 | €0 | -€2,000 | -100% |
| Financial charges | 65/66B | €60,283 | €104,217 | +€43,934 | +72.9% |
| Recurring financial charges | 65 | €60,283 | €104,217 | +€43,934 | +72.9% |
| Profit (loss) for the period before taxes | 9903 | €144,570 | €170,526 | +€25,956 | +18.0% |
| Income taxes | 67/77 | €391 | €594 | +€203 | +51.8% |
| Profit (loss) for the period | 9904 | €144,179 | €169,932 | +€25,753 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €144,179 | €169,932 | +€25,753 | +17.9% |
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.