F.E. Cargo: 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.
F.E. Cargo
Largest movements
- Receivables within one year +€22,237
up €22,237 (+127%), from €17,500 to €39,737
of which Trade receivables: +€22,505
- Cash +€12,658
up €12,658 (+67.3%), from €18,815 to €31,474
mainly Tax, wage and social debts (+€54,416) and Depreciation (+€11,506)
- Tangible fixed assets -€11,506
down €11,506 (-41.8%), from €27,517 to €16,011
of which Furniture and vehicles: -€10,777
- Tax, wage and social debts +€54,416
up €54,416 (+173%), from €31,454 to €85,869
of which Remuneration and social security: +€54,593
- Trade debts -€12,393
down €12,393 (-72.6%), from €17,064 to €4,671
- Profit (loss) carried forward -€11,024
down €11,024 (-45.2%), from -€24,409 to -€35,433
- Debts after one year -€6,722
down €6,722 (-53.6%), from €12,553 to €5,831
- Other debts -€1,142
down €1,142 (-33.3%), from €3,433 to €2,291
- Gross operating margin -€20,928
down €20,928 (-72.8%), from €28,766 to €7,838
- Depreciation -€1,391
down €1,391 (-10.8%), from €12,897 to €11,506
- Other operating charges +€1,004
up €1,004 (+32.3%), from €3,106 to €4,110
- Financial charges -€862
down €862 (-28.5%), from €3,018 to €2,156
- Write-downs +€500
new in 2025: €500
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 | €65,130 | €88,551 | +€23,422 | +36.0% |
| Fixed assets | 21/28 | €27,517 | €16,011 | -€11,506 | -41.8% |
| Tangible fixed assets | 22/27 | €27,517 | €16,011 | -€11,506 | -41.8% |
| Land and buildings | 22 | €8,483 | €7,754 | -€729 | -8.6% |
| Furniture and vehicles | 24 | €19,034 | €8,257 | -€10,777 | -56.6% |
| Current assets | 29/58 | €37,613 | €72,541 | +€34,928 | +92.9% |
| Amounts receivable within one year | 40/41 | €17,500 | €39,737 | +€22,237 | +127% |
| Trade receivables | 40 | €11,727 | €34,233 | +€22,505 | +192% |
| Other amounts receivable | 41 | €5,772 | €5,504 | -€268 | -4.6% |
| Cash at bank and in hand | 54/58 | €18,815 | €31,474 | +€12,658 | +67.3% |
| Deferred charges and accrued income | 490/1 | €1,298 | €1,330 | +€32 | +2.5% |
| Total equity and liabilities | 10/49 | €65,130 | €88,551 | +€23,422 | +36.0% |
| Equity | 10/15 | -€5,809 | -€16,833 | -€11,024 | -190% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,409 | -€35,433 | -€11,024 | -45.2% |
| Amounts payable | 17/49 | €70,938 | €105,384 | +€34,446 | +48.6% |
| Amounts payable after more than one year | 17 | €12,553 | €5,831 | -€6,722 | -53.6% |
| Financial debts | 170/4 | €12,553 | €5,831 | -€6,722 | -53.6% |
| Amounts payable within one year | 42/48 | €58,386 | €99,554 | +€41,168 | +70.5% |
| Current portion of amounts payable after more than one year | 42 | €6,435 | €6,722 | +€288 | +4.5% |
| Trade debts | 44 | €17,064 | €4,671 | -€12,393 | -72.6% |
| Suppliers | 440/4 | €17,064 | €4,671 | -€12,393 | -72.6% |
| Taxes, remuneration and social security | 45 | €31,454 | €85,869 | +€54,416 | +173% |
| Taxes | 450/3 | €857 | €679 | -€178 | -20.7% |
| Remuneration and social security | 454/9 | €30,597 | €85,191 | +€54,593 | +178% |
| Other amounts payable | 47/48 | €3,433 | €2,291 | -€1,142 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,897 | €11,506 | -€1,391 | -10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €500 | +€500 | |
| Other operating charges | 640/8 | €3,106 | €4,110 | +€1,004 | +32.3% |
| Gross operating margin | 9900 | €28,766 | €7,838 | -€20,928 | -72.8% |
| Operating profit (loss) | 9901 | €12,763 | -€8,278 | -€21,041 | |
| Financial income | 75/76B | €89 | €1 | -€88 | -98.6% |
| Recurring financial income | 75 | €89 | €1 | -€88 | -98.6% |
| Financial charges | 65/66B | €3,018 | €2,156 | -€862 | -28.5% |
| Recurring financial charges | 65 | €3,018 | €2,156 | -€862 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €9,834 | -€10,434 | -€20,268 | |
| Income taxes | 67/77 | €828 | €591 | -€238 | -28.7% |
| Profit (loss) for the period | 9904 | €9,006 | -€11,024 | -€20,030 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,006 | -€11,024 | -€20,030 |
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.