Exchange Logistics Services: 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.
Exchange Logistics Services
Largest movements
- Receivables within one year -€73,780
down €73,780 (-70.9%), from €104,026 to €30,246
of which Trade receivables: -€52,780
- Cash -€63,378
down €63,378 (-63.9%), from €99,210 to €35,831
mainly Net result for the year (-€144,484) and Debts after one year (-€79,837)
- Tangible fixed assets -€54,109
down €54,109 (-9.6%), from €564,447 to €510,338
of which Plant, machinery and equipment: -€33,918
- Deferred charges and accrued income +€32,908
up €32,908 (+52.9%), from €62,195 to €95,103
- Stocks and contracts -€25,922
down €25,922 (-1.8%), from €1.4m to €1.4m
- Profit (loss) carried forward -€144,484
down €144,484 (-49.8%), from -€290,005 to -€434,490
- Debts after one year -€79,837
down €79,837 (-5.4%), from €1.5m to €1.4m
of which Financial debts: -€79,837
- Trade debts +€66,861
up €66,861 (+509%), from €13,145 to €80,006
- Gross operating margin -€68,336
down €68,336, from €47,948 to -€20,388
- Financial charges -€10,743
down €10,743 (-51.0%), from €21,075 to €10,332
- Staff costs +€4,340
up €4,340 (+9.5%), from €45,863 to €50,203
- Other operating charges +€2,015
up €2,015 (+50.0%), from €4,028 to €6,043
- Depreciation +€1,965
up €1,965 (+3.3%), from €59,626 to €61,591
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 | €2,285,802 | €2,099,728 | -€186,074 | -8.1% |
| Fixed assets | 21/28 | €592,025 | €536,124 | -€55,901 | -9.4% |
| Intangible fixed assets | 21 | €5,420 | €3,246 | -€2,174 | -40.1% |
| Tangible fixed assets | 22/27 | €564,447 | €510,338 | -€54,109 | -9.6% |
| Land and buildings | 22 | €372,401 | €375,560 | +€3,159 | +0.8% |
| Plant, machinery and equipment | 23 | €115,476 | €81,559 | -€33,918 | -29.4% |
| Furniture and vehicles | 24 | €73,754 | €51,221 | -€22,534 | -30.6% |
| Leasing and similar rights | 25 | €2,815 | €1,999 | -€816 | -29.0% |
| Financial fixed assets | 28 | €22,158 | €22,540 | +€382 | +1.7% |
| Current assets | 29/58 | €1,693,777 | €1,563,604 | -€130,172 | -7.7% |
| Stocks and contracts in progress | 3 | €1,428,346 | €1,402,424 | -€25,922 | -1.8% |
| Stocks | 30/36 | €1,428,346 | €1,402,424 | -€25,922 | -1.8% |
| Amounts receivable within one year | 40/41 | €104,026 | €30,246 | -€73,780 | -70.9% |
| Trade receivables | 40 | €83,026 | €30,246 | -€52,780 | -63.6% |
| Other amounts receivable | 41 | €21,000 | - | -€21,000 | |
| Cash at bank and in hand | 54/58 | €99,210 | €35,831 | -€63,378 | -63.9% |
| Deferred charges and accrued income | 490/1 | €62,195 | €95,103 | +€32,908 | +52.9% |
| Total equity and liabilities | 10/49 | €2,285,802 | €2,099,728 | -€186,074 | -8.1% |
| Equity | 10/15 | €473,637 | €329,153 | -€144,484 | -30.5% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Reserves | 13 | €493,642 | €493,642 | = | 0.0% |
| Distributable reserves | 133 | €493,642 | €493,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€290,005 | -€434,490 | -€144,484 | -49.8% |
| Amounts payable | 17/49 | €1,812,165 | €1,770,575 | -€41,589 | -2.3% |
| Amounts payable after more than one year | 17 | €1,474,848 | €1,395,012 | -€79,837 | -5.4% |
| Financial debts | 170/4 | €300,124 | €220,288 | -€79,837 | -26.6% |
| Other amounts payable | 178/9 | €1,174,724 | €1,174,724 | = | 0.0% |
| Amounts payable within one year | 42/48 | €303,437 | €363,681 | +€60,245 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €63,572 | €52,822 | -€10,750 | -16.9% |
| Financial debts | 43 | €211,000 | €216,000 | +€5,000 | +2.4% |
| Other loans | 439 | €211,000 | €216,000 | +€5,000 | +2.4% |
| Trade debts | 44 | €13,145 | €80,006 | +€66,861 | +509% |
| Suppliers | 440/4 | €13,145 | €80,006 | +€66,861 | +509% |
| Taxes, remuneration and social security | 45 | €15,720 | €14,853 | -€866 | -5.5% |
| Taxes | 450/3 | €9,418 | €7,876 | -€1,542 | -16.4% |
| Remuneration and social security | 454/9 | €6,302 | €6,978 | +€676 | +10.7% |
| Accrued charges and deferred income | 492/3 | €33,880 | €11,882 | -€21,997 | -64.9% |
| Remuneration, social security and pensions | 62 | €45,863 | €50,203 | +€4,340 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,626 | €61,591 | +€1,965 | +3.3% |
| Other operating charges | 640/8 | €4,028 | €6,043 | +€2,015 | +50.0% |
| Gross operating margin | 9900 | €47,948 | -€20,388 | -€68,336 | |
| Operating profit (loss) | 9901 | -€61,568 | -€138,226 | -€76,657 | -125% |
| Financial income | 75/76B | €3,037 | €4,170 | +€1,133 | +37.3% |
| Recurring financial income | 75 | €3,037 | €4,170 | +€1,133 | +37.3% |
| Financial charges | 65/66B | €21,075 | €10,332 | -€10,743 | -51.0% |
| Recurring financial charges | 65 | €21,075 | €10,332 | -€10,743 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | -€79,607 | -€144,388 | -€64,781 | -81.4% |
| Income taxes | 67/77 | - | €96 | +€96 | |
| Profit (loss) for the period | 9904 | -€79,607 | -€144,484 | -€64,877 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,607 | -€144,484 | -€64,877 | -81.5% |
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 13 October 2026 via checked.be.