Flanders E-Commerce 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.
Flanders E-Commerce Logistics
Largest movements
- Receivables within one year -€154,243
down €154,243 (-93.3%), from €165,319 to €11,076
of which Trade receivables: -€154,243
- Cash +€21,511
up €21,511 (+1748.2%), from €1,230 to €22,741
mainly Receivables within one year (+€154,243) and Net result for the year (+€39,746)
- Trade debts -€205,852
down €205,852 (-95.7%), from €215,195 to €9,343
- Profit (loss) carried forward +€39,746
up €39,746 (+26.9%), from -€147,922 to -€108,176
- Other debts +€39,120
up €39,120 (+54.9%), from €71,318 to €110,438
- Tax, wage and social debts -€7,321
no longer reported in 2025 (was €7,321)
- Staff costs -€58,569
no longer reported in 2025 (was €58,569)
- Gross operating margin -€41,864
down €41,864 (-51.0%), from €82,072 to €40,207
- Depreciation -€5,609
down €5,609 (-95.2%), from €5,894 to €286
- Other operating charges -€890
no longer reported in 2025 (was €890)
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.
Cash bridge derived
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 | €166,835 | €33,817 | -€133,018 | -79.7% |
| Fixed assets | 21/28 | €286 | - | -€286 | |
| Tangible fixed assets | 22/27 | €286 | - | -€286 | |
| Plant, machinery and equipment | 23 | €286 | - | -€286 | |
| Current assets | 29/58 | €166,550 | €33,817 | -€132,733 | -79.7% |
| Amounts receivable within one year | 40/41 | €165,319 | €11,076 | -€154,243 | -93.3% |
| Trade receivables | 40 | €160,992 | €6,749 | -€154,243 | -95.8% |
| Other amounts receivable | 41 | €4,327 | €4,327 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,230 | €22,741 | +€21,511 | +1748.2% |
| Total equity and liabilities | 10/49 | €166,835 | €33,817 | -€133,018 | -79.7% |
| Equity | 10/15 | -€129,322 | -€89,576 | +€39,746 | +30.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,922 | -€108,176 | +€39,746 | +26.9% |
| Amounts payable | 17/49 | €296,158 | €123,393 | -€172,764 | -58.3% |
| Amounts payable within one year | 42/48 | €293,834 | €119,781 | -€174,053 | -59.2% |
| Trade debts | 44 | €215,195 | €9,343 | -€205,852 | -95.7% |
| Suppliers | 440/4 | €215,195 | €9,343 | -€205,852 | -95.7% |
| Taxes, remuneration and social security | 45 | €7,321 | - | -€7,321 | |
| Remuneration and social security | 454/9 | €7,321 | - | -€7,321 | |
| Other amounts payable | 47/48 | €71,318 | €110,438 | +€39,120 | +54.9% |
| Accrued charges and deferred income | 492/3 | €2,324 | €3,612 | +€1,289 | +55.5% |
| Remuneration, social security and pensions | 62 | €58,569 | - | -€58,569 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,894 | €286 | -€5,609 | -95.2% |
| Other operating charges | 640/8 | €890 | - | -€890 | |
| Gross operating margin | 9900 | €82,072 | €40,207 | -€41,864 | -51.0% |
| Operating profit (loss) | 9901 | €16,718 | €39,922 | +€23,204 | +138.8% |
| Financial income | 75/76B | €76 | - | -€76 | |
| Recurring financial income | 75 | €76 | - | -€76 | |
| Financial charges | 65/66B | €182 | €175 | -€7 | -3.8% |
| Recurring financial charges | 65 | €182 | €175 | -€7 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €16,612 | €39,746 | +€23,135 | +139.3% |
| Profit (loss) for the period | 9904 | €16,612 | €39,746 | +€23,135 | +139.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,612 | €39,746 | +€23,135 | +139.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.