E-LOGISTICS: what changed
Two fiscal 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
E-LOGISTICS
NACE 52.250, Logistics services
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€1.8m
2025 · €1.6m+€228,200
Equity
€11.2m
2025 · €10.0m+€1.1m
Cash
€1.8m
2025 · €1.2m+€603,922
Balance sheet total
€19.0m
2025 · €19.2m-€205,823
Largest movements
Assets
- Tangible fixed assets -€1.3m
down €1.3m (-14.7%), from €8.8m to €7.5m
of which Land and buildings: -€1.1m
- Cash +€603,922
up €603,922 (+51.1%), from €1.2m to €1.8m
mainly Net result for the year (+€1.8m) and Depreciation (+€1.4m)
- Intangible fixed assets +€501,676
up €501,676 (+39.8%), from €1.3m to €1.8m
Equity and liabilities
- Trade debts -€1.6m
down €1.6m (-40.4%), from €3.9m to €2.3m
- Reserves +€1,000,000
up €1,000,000 (+1405.5%), from €71,148 to €1.1m
of which Tax-exempt reserves: +€1,000,000
- Other debts +€237,530
new in 2026: €237,530
Income statement
- Turnover +€2.2m
up €2.2m (+5.3%), from €41.3m to €43.4m
- Staff costs +€1.6m
up €1.6m (+5.8%), from €27.9m to €29.5m
- Services and other goods +€955,294
up €955,294 (+8.7%), from €10.9m to €11.9m
- Other operating income +€731,959
up €731,959 (+60.1%), from €1.2m to €2.0m
From the 2025 result to the 2026 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 2025
€1.6m
Turnover
+€2.2m
Other operating income
+€731,959
Goods and materials
+€5,079
Services and other goods
-€955,294
Staff costs
-€1.6m
Depreciation
-€79,147
Write-downs
+€9,530
Other operating charges
-€18,600
Other operating items
-€448
Financial income
-€81,644
Financial charges
+€113,452
Taxes
-€47,616
Result 2026
€1.8m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.9m
Investment
-€612,609
Financing
-€700,000
Cash 2025
€1.2m
From operations (derived)
+€1.9m
Net result for the year
+€1.8m
Depreciation
+€1.4m
Receivables within one year
+€17,067
Smaller working-capital items
+€2,902
Trade debts
-€1.6m
Tax, wage and social debts
-€4,686
Other debts
+€237,530
Investment (derived)
-€612,609
Investment in fixed assets (net)
-€612,609
Financing
-€700,000
Contributions, distributions and other
-€700,000
Cash 2026
€1.8m
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,207,545 | €19,001,721 | -€205,823 | -1.1% |
| Fixed assets | 21/28 | €10,076,343 | €9,284,124 | -€792,220 | -7.9% |
| Intangible fixed assets | 21 | €1,261,988 | €1,763,664 | +€501,676 | +39.8% |
| Tangible fixed assets | 22/27 | €8,814,355 | €7,520,459 | -€1.3m | -14.7% |
| Land and buildings | 22 | €7,052,822 | €5,997,134 | -€1.1m | -15.0% |
| Plant, machinery and equipment | 23 | €518,272 | €453,264 | -€65,008 | -12.5% |
| Furniture and vehicles | 24 | €350,897 | €218,597 | -€132,300 | -37.7% |
| Other tangible fixed assets | 26 | €892,365 | €851,464 | -€40,901 | -4.6% |
| Current assets | 29/58 | €9,131,202 | €9,717,598 | +€586,396 | +6.4% |
| Amounts receivable within one year | 40/41 | €7,929,776 | €7,912,709 | -€17,067 | -0.2% |
| Trade receivables | 40 | €7,724,707 | €7,163,595 | -€561,112 | -7.3% |
| Other amounts receivable | 41 | €205,069 | €749,113 | +€544,045 | +265.3% |
| Cash at bank and in hand | 54/58 | €1,181,766 | €1,785,688 | +€603,922 | +51.1% |
| Deferred charges and accrued income | 490/1 | €19,659 | €19,201 | -€458 | -2.3% |
| Total equity and liabilities | 10/49 | €19,207,545 | €19,001,721 | -€205,823 | -1.1% |
| Equity | 10/15 | €10,045,568 | €11,177,685 | +€1.1m | +11.3% |
| Contributions | 10/11 | €711,480 | €711,480 | = | 0.0% |
| Capital | 10 | €711,480 | €711,480 | = | 0.0% |
| Issued capital | 100 | €711,480 | €711,480 | = | 0.0% |
| Reserves | 13 | €71,148 | €1,071,148 | +€1,000,000 | +1405.5% |
| Non-distributable reserves | 130/1 | €71,148 | €71,148 | = | 0.0% |
| Legal reserve | 130 | €71,148 | €71,148 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €1,000,000 | +€1,000,000 | |
| Profit (loss) carried forward | 14 | €9,262,940 | €9,395,057 | +€132,117 | +1.4% |
| Amounts payable | 17/49 | €9,161,976 | €7,824,036 | -€1.3m | -14.6% |
| Amounts payable within one year | 42/48 | €9,152,199 | €7,811,815 | -€1.3m | -14.6% |
| Trade debts | 44 | €3,894,443 | €2,321,215 | -€1.6m | -40.4% |
| Suppliers | 440/4 | €3,894,443 | €2,321,215 | -€1.6m | -40.4% |
| Taxes, remuneration and social security | 45 | €5,257,756 | €5,253,070 | -€4,686 | -0.1% |
| Taxes | 450/3 | €40,409 | €40,132 | -€277 | -0.7% |
| Remuneration and social security | 454/9 | €5,217,347 | €5,212,938 | -€4,409 | -0.1% |
| Other amounts payable | 47/48 | - | €237,530 | +€237,530 | |
| Accrued charges and deferred income | 492/3 | €9,778 | €12,222 | +€2,444 | +25.0% |
| Operating income | 70/76A | €42,469,026 | €45,370,817 | +€2.9m | +6.8% |
| Turnover | 70 | €41,250,328 | €43,420,159 | +€2.2m | +5.3% |
| Other operating income | 74 | €1,218,698 | €1,950,657 | +€731,959 | +60.1% |
| Operating charges | 60/66A | €40,228,169 | €42,885,951 | +€2.7m | +6.6% |
| Goods for resale, raw materials and consumables | 60 | €5,079 | - | -€5,079 | |
| Purchases | 600/8 | €5,079 | - | -€5,079 | |
| Services and other goods | 61 | €10,943,451 | €11,898,745 | +€955,294 | +8.7% |
| Remuneration, social security and pensions | 62 | €27,919,511 | €29,538,415 | +€1.6m | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,325,682 | €1,404,829 | +€79,147 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,938 | -€6,592 | -€9,530 | |
| Other operating charges | 640/8 | €31,507 | €50,106 | +€18,600 | +59.0% |
| Non-recurring operating charges | 66A | €1 | €449 | +€448 | +89682.0% |
| Operating profit (loss) | 9901 | €2,240,857 | €2,484,865 | +€244,008 | +10.9% |
| Financial income | 75/76B | €90,149 | €8,505 | -€81,644 | -90.6% |
| Recurring financial income | 75 | €90,149 | €8,505 | -€81,644 | -90.6% |
| Income from current assets | 751 | €54,950 | €8,505 | -€46,445 | -84.5% |
| Other financial income | 752/9 | €35,198 | - | -€35,198 | |
| Financial charges | 65/66B | €124,981 | €11,529 | -€113,452 | -90.8% |
| Recurring financial charges | 65 | €124,981 | €11,529 | -€113,452 | -90.8% |
| Debt charges | 650 | €78,182 | €10,777 | -€67,404 | -86.2% |
| Other financial charges | 652/9 | €46,799 | €752 | -€46,047 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €2,206,025 | €2,481,841 | +€275,816 | +12.5% |
| Income taxes | 67/77 | €602,109 | €649,725 | +€47,616 | +7.9% |
| Taxes | 670/3 | €602,109 | €649,792 | +€47,683 | +7.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €68 | +€68 | |
| Profit (loss) for the period | 9904 | €1,603,916 | €1,832,117 | +€228,200 | +14.2% |
| Transfer to tax-exempt reserves | 689 | - | €1,000,000 | +€1,000,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,603,916 | €832,117 | -€771,800 | -48.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.