EXPO 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.
EXPO LOGISTICS
Largest movements
- Cash -€634,083
down €634,083 (-64.0%), from €990,263 to €356,179
mainly Investment in fixed assets (net) (-€562,188) and Short-term financial debts (-€500,032)
- Receivables within one year +€358,173
up €358,173 (+58.8%), from €609,074 to €967,247
of which Trade receivables: +€301,430
- Tangible fixed assets +€255,139
up €255,139 (+31.7%), from €805,000 to €1.1m
of which Furniture and vehicles: +€254,696
- Short-term financial debts -€500,032
down €500,032 (-98.0%), from €510,108 to €10,076
- Debts after one year +€349,804
up €349,804 (+180%), from €194,758 to €544,562
- Other debts -€140,000
down €140,000 (-100%), from €140,000 to €0
- Reserves +€126,283
up €126,283 (+13.1%), from €963,639 to €1.1m
of which Distributable reserves: +€126,283
- Current portion of long-term debt +€89,834
up €89,834 (+104%), from €86,398 to €176,233
- Gross operating margin +€246,898
up €246,898 (+17.0%), from €1.5m to €1.7m
- Staff costs +€148,632
up €148,632 (+15.1%), from €983,200 to €1.1m
- Depreciation +€104,179
up €104,179 (+51.4%), from €202,869 to €307,049
- Other operating charges +€53,297
up €53,297 (+248%), from €21,499 to €74,796
- Taxes -€26,769
down €26,769 (-43.4%), from €61,680 to €34,911
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 | €2,415,686 | €2,398,979 | -€16,707 | -0.7% |
| Fixed assets | 21/28 | €807,430 | €1,062,570 | +€255,139 | +31.6% |
| Tangible fixed assets | 22/27 | €805,000 | €1,060,140 | +€255,139 | +31.7% |
| Land and buildings | 22 | €76,366 | €74,595 | -€1,771 | -2.3% |
| Plant, machinery and equipment | 23 | €69,299 | €71,513 | +€2,214 | +3.2% |
| Furniture and vehicles | 24 | €659,336 | €914,032 | +€254,696 | +38.6% |
| Financial fixed assets | 28 | €2,430 | €2,430 | = | 0.0% |
| Current assets | 29/58 | €1,608,255 | €1,336,409 | -€271,846 | -16.9% |
| Amounts receivable within one year | 40/41 | €609,074 | €967,247 | +€358,173 | +58.8% |
| Trade receivables | 40 | €284,194 | €585,624 | +€301,430 | +106% |
| Other amounts receivable | 41 | €324,880 | €381,623 | +€56,743 | +17.5% |
| Cash at bank and in hand | 54/58 | €990,263 | €356,179 | -€634,083 | -64.0% |
| Deferred charges and accrued income | 490/1 | €8,918 | €12,983 | +€4,065 | +45.6% |
| Total equity and liabilities | 10/49 | €2,415,686 | €2,398,979 | -€16,707 | -0.7% |
| Equity | 10/15 | €994,625 | €1,120,909 | +€126,283 | +12.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €963,639 | €1,089,922 | +€126,283 | +13.1% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €512,765 | €512,765 | = | 0.0% |
| Distributable reserves | 133 | €447,775 | €574,058 | +€126,283 | +28.2% |
| Amounts payable | 17/49 | €1,421,060 | €1,278,070 | -€142,990 | -10.1% |
| Amounts payable after more than one year | 17 | €194,758 | €544,562 | +€349,804 | +180% |
| Financial debts | 170/4 | €194,758 | €544,562 | +€349,804 | +180% |
| Amounts payable within one year | 42/48 | €1,221,380 | €733,508 | -€487,871 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €86,398 | €176,233 | +€89,834 | +104% |
| Financial debts | 43 | €510,108 | €10,076 | -€500,032 | -98.0% |
| Credit institutions | 430/8 | €510,108 | €10,076 | -€500,032 | -98.0% |
| Trade debts | 44 | €358,358 | €444,054 | +€85,696 | +23.9% |
| Suppliers | 440/4 | €358,358 | €444,054 | +€85,696 | +23.9% |
| Advances received on contracts in progress | 46 | €897 | €4,281 | +€3,384 | +377% |
| Taxes, remuneration and social security | 45 | €125,619 | €98,865 | -€26,754 | -21.3% |
| Taxes | 450/3 | €34,135 | €0 | -€34,135 | -100% |
| Remuneration and social security | 454/9 | €91,484 | €98,865 | +€7,381 | +8.1% |
| Other amounts payable | 47/48 | €140,000 | €0 | -€140,000 | -100% |
| Accrued charges and deferred income | 492/3 | €4,923 | €0 | -€4,923 | -100% |
| Non-recurring operating income | 76A | - | €562 | +€562 | |
| Remuneration, social security and pensions | 62 | €983,200 | €1,131,832 | +€148,632 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,869 | €307,049 | +€104,179 | +51.4% |
| Other operating charges | 640/8 | €21,499 | €74,796 | +€53,297 | +248% |
| Gross operating margin | 9900 | €1,451,714 | €1,698,612 | +€246,898 | +17.0% |
| Operating profit (loss) | 9901 | €244,146 | €184,935 | -€59,211 | -24.3% |
| Financial income | 75/76B | - | €70 | +€70 | |
| Recurring financial income | 75 | - | €70 | +€70 | |
| Financial charges | 65/66B | €36,835 | €23,811 | -€13,025 | -35.4% |
| Recurring financial charges | 65 | €36,835 | €23,811 | -€13,025 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €207,310 | €161,194 | -€46,116 | -22.2% |
| Income taxes | 67/77 | €61,680 | €34,911 | -€26,769 | -43.4% |
| Profit (loss) for the period | 9904 | €145,630 | €126,283 | -€19,347 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €145,630 | €126,283 | -€19,347 | -13.3% |
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 24 October 2026 via checked.be.