EW 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.
EW LOGISTICS
Largest movements
- Receivables within one year -€877,810
down €877,810 (-42.2%), from €2.1m to €1.2m
of which Trade receivables: -€952,722
- Cash +€391,628
up €391,628 (+292.0%), from €134,106 to €525,734
mainly Receivables within one year (+€877,810) and Net result for the year (+€103,666)
- Short-term financial debts -€369,009
down €369,009 (-100.0%), from €369,121 to €112
- Trade debts -€215,110
down €215,110 (-21.6%), from €995,431 to €780,321
- Reserves +€103,666
up €103,666 (+15.9%), from €650,689 to €754,354
- Gross operating margin -€36,583
down €36,583 (-5.1%), from €712,676 to €676,093
- Taxes +€27,568
up €27,568 (+172.8%), from €15,953 to €43,521
- Other operating charges +€18,819
up €18,819 (+74.7%), from €25,200 to €44,019
- Financial income +€17,591
up €17,591 (+245.4%), from €7,169 to €24,760
- Staff costs +€17,190
up €17,190 (+3.9%), from €441,117 to €458,308
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.
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,261,034 | €1,792,842 | -€468,192 | -20.7% |
| Fixed assets | 21/28 | €15,032 | €24,011 | +€8,979 | +59.7% |
| Intangible fixed assets | 21 | €6,461 | €3,507 | -€2,953 | -45.7% |
| Tangible fixed assets | 22/27 | €2,671 | €14,604 | +€11,933 | +446.7% |
| Plant, machinery and equipment | 23 | €2,253 | €3,705 | +€1,452 | +64.4% |
| Furniture and vehicles | 24 | €418 | €10,899 | +€10,481 | +2507.5% |
| Financial fixed assets | 28 | €5,900 | €5,900 | = | 0.0% |
| Current assets | 29/58 | €2,246,003 | €1,768,831 | -€477,172 | -21.2% |
| Amounts receivable within one year | 40/41 | €2,078,670 | €1,200,860 | -€877,810 | -42.2% |
| Trade receivables | 40 | €1,917,073 | €964,351 | -€952,722 | -49.7% |
| Other amounts receivable | 41 | €161,597 | €236,509 | +€74,912 | +46.4% |
| Cash at bank and in hand | 54/58 | €134,106 | €525,734 | +€391,628 | +292.0% |
| Deferred charges and accrued income | 490/1 | €33,226 | €42,236 | +€9,010 | +27.1% |
| Total equity and liabilities | 10/49 | €2,261,034 | €1,792,842 | -€468,192 | -20.7% |
| Equity | 10/15 | €819,289 | €922,954 | +€103,666 | +12.7% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €650,689 | €754,354 | +€103,666 | +15.9% |
| Distributable reserves | 133 | €650,689 | €754,354 | +€103,666 | +15.9% |
| Amounts payable | 17/49 | €1,441,746 | €869,888 | -€571,858 | -39.7% |
| Amounts payable after more than one year | 17 | - | €4,603 | +€4,603 | |
| Financial debts | 170/4 | - | €4,603 | +€4,603 | |
| Amounts payable within one year | 42/48 | €1,441,746 | €864,901 | -€576,844 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | - | €2,785 | +€2,785 | |
| Financial debts | 43 | €369,121 | €112 | -€369,009 | -100.0% |
| Other loans | 439 | €369,121 | €112 | -€369,009 | -100.0% |
| Trade debts | 44 | €995,431 | €780,321 | -€215,110 | -21.6% |
| Suppliers | 440/4 | €995,431 | €780,321 | -€215,110 | -21.6% |
| Taxes, remuneration and social security | 45 | €77,193 | €81,683 | +€4,490 | +5.8% |
| Taxes | 450/3 | €14,617 | €17,766 | +€3,149 | +21.5% |
| Remuneration and social security | 454/9 | €62,576 | €63,917 | +€1,341 | +2.1% |
| Accrued charges and deferred income | 492/3 | - | €383 | +€383 | |
| Remuneration, social security and pensions | 62 | €441,117 | €458,308 | +€17,190 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,429 | €6,521 | +€1,092 | +20.1% |
| Other operating charges | 640/8 | €25,200 | €44,019 | +€18,819 | +74.7% |
| Gross operating margin | 9900 | €712,676 | €676,093 | -€36,583 | -5.1% |
| Operating profit (loss) | 9901 | €240,929 | €167,246 | -€73,684 | -30.6% |
| Financial income | 75/76B | €7,169 | €24,760 | +€17,591 | +245.4% |
| Recurring financial income | 75 | €7,169 | €24,760 | +€17,591 | +245.4% |
| Financial charges | 65/66B | €60,856 | €44,819 | -€16,037 | -26.4% |
| Recurring financial charges | 65 | €60,856 | €44,819 | -€16,037 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €187,243 | €147,187 | -€40,056 | -21.4% |
| Income taxes | 67/77 | €15,953 | €43,521 | +€27,568 | +172.8% |
| Profit (loss) for the period | 9904 | €171,290 | €103,666 | -€67,624 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €171,290 | €103,666 | -€67,624 | -39.5% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.