FLANDERS ROAD 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.
What changed
FLANDERS ROAD LOGISTICS
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€25,443
2024 · €19,241+€6,202
Equity
€4.1m
2024 · €1.7m+€2.5m
Cash
€7,444
2024 · €16,052-€8,608
Balance sheet total
€5.9m
2024 · €3.5m+€2.4m
Largest movements
Assets
- Tangible fixed assets +€2.4m
up €2.4m (+87.6%), from €2.7m to €5.1m
of which Land and buildings: +€2.4m
Equity and liabilities
- Revaluation surpluses +€2.5m
up €2.5m (+187%), from €1.3m to €3.8m
- Debts after one year -€89,191
down €89,191 (-5.5%), from €1.6m to €1.5m
of which Financial debts: -€170,848
Income statement
- Services and other goods -€12,922
down €12,922 (-11.6%), from €111,613 to €98,690
- Taxes +€5,549
up €5,549 (+168%), from €3,310 to €8,859
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.
Result 2024
€19,241
Other operating income
+€605
Services and other goods
+€12,922
Depreciation
-€545
Other operating charges
-€947
Financial income
+€923
Financial charges
-€1,209
Taxes
-€5,549
Result 2025
€25,443
raises the resultlowers the result
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.
From operations
+€79,036
Investment
-€2.5m
Financing
+€2.4m
Cash 2024
€16,052
From operations (derived)
+€79,036
Net result for the year
+€25,443
Depreciation
+€63,287
Receivables within one year
+€32,031
Smaller working-capital items
+€1,976
Trade debts
-€43,699
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Financing
+€2.4m
Debts after one year
-€89,191
Current portion of long-term debt
+€1,546
Contributions, distributions and other
+€2.5m
Cash 2025
€7,444
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,535,022 | €5,889,011 | +€2.4m | +66.6% |
| Fixed assets | 21/28 | €3,486,798 | €5,879,245 | +€2.4m | +68.6% |
| Tangible fixed assets | 22/27 | €2,731,447 | €5,123,894 | +€2.4m | +87.6% |
| Land and buildings | 22 | €2,689,949 | €5,084,555 | +€2.4m | +89.0% |
| Plant, machinery and equipment | 23 | €41,498 | €39,339 | -€2,160 | -5.2% |
| Financial fixed assets | 28 | €755,351 | €755,351 | = | 0.0% |
| Affiliated companies | 280/1 | €755,351 | €755,351 | = | 0.0% |
| Participating interests | 280 | €755,351 | €755,351 | = | 0.0% |
| Current assets | 29/58 | €48,224 | €9,766 | -€38,458 | -79.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €32,172 | €141 | -€32,031 | -99.6% |
| Other amounts receivable | 41 | €32,172 | €141 | -€32,031 | -99.6% |
| Cash at bank and in hand | 54/58 | €16,052 | €7,444 | -€8,608 | -53.6% |
| Deferred charges and accrued income | 490/1 | - | €2,181 | +€2,181 | |
| Total equity and liabilities | 10/49 | €3,535,022 | €5,889,011 | +€2.4m | +66.6% |
| Equity | 10/15 | €1,650,007 | €4,131,183 | +€2.5m | +150% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,314,000 | €3,769,734 | +€2.5m | +187% |
| Reserves | 13 | €8,341 | €8,341 | = | 0.0% |
| Distributable reserves | 133 | €8,341 | €8,341 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,665 | €203,108 | +€25,443 | +14.3% |
| Amounts payable | 17/49 | €1,885,016 | €1,757,828 | -€127,187 | -6.7% |
| Amounts payable after more than one year | 17 | €1,615,829 | €1,526,638 | -€89,191 | -5.5% |
| Financial debts | 170/4 | €637,387 | €466,538 | -€170,848 | -26.8% |
| Credit institutions | 173 | €637,387 | €466,538 | -€170,848 | -26.8% |
| Other amounts payable | 178/9 | €978,442 | €1,060,100 | +€81,658 | +8.3% |
| Amounts payable within one year | 42/48 | €241,072 | €199,452 | -€41,620 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €169,302 | €170,848 | +€1,546 | +0.9% |
| Trade debts | 44 | €53,987 | €10,288 | -€43,699 | -80.9% |
| Suppliers | 440/4 | €53,987 | €10,288 | -€43,699 | -80.9% |
| Taxes, remuneration and social security | 45 | €3,310 | €0 | -€3,310 | -100% |
| Taxes | 450/3 | €3,310 | €0 | -€3,310 | -100% |
| Other amounts payable | 47/48 | €14,473 | €18,315 | +€3,842 | +26.5% |
| Accrued charges and deferred income | 492/3 | €28,115 | €31,739 | +€3,624 | +12.9% |
| Operating income | 70/76A | €265,342 | €265,947 | +€605 | +0.2% |
| Turnover | 70 | €258,000 | €258,000 | = | 0.0% |
| Other operating income | 74 | €7,342 | €7,947 | +€605 | +8.2% |
| Operating charges | 60/66A | €195,474 | €184,043 | -€11,431 | -5.8% |
| Services and other goods | 61 | €111,613 | €98,690 | -€12,922 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,742 | €63,287 | +€545 | +0.9% |
| Other operating charges | 640/8 | €21,119 | €22,066 | +€947 | +4.5% |
| Operating profit (loss) | 9901 | €69,868 | €81,904 | +€12,036 | +17.2% |
| Financial income | 75/76B | €247 | €1,170 | +€923 | +374% |
| Recurring financial income | 75 | €247 | €1,170 | +€923 | +374% |
| Other financial income | 752/9 | €247 | €1,170 | +€923 | +374% |
| Financial charges | 65/66B | €47,564 | €48,773 | +€1,209 | +2.5% |
| Recurring financial charges | 65 | €47,564 | €48,773 | +€1,209 | +2.5% |
| Debt charges | 650 | €47,564 | €48,051 | +€487 | +1.0% |
| Other financial charges | 652/9 | €0 | €722 | +€722 | +3,608,100% |
| Profit (loss) for the period before taxes | 9903 | €22,551 | €34,302 | +€11,751 | +52.1% |
| Income taxes | 67/77 | €3,310 | €8,859 | +€5,549 | +168% |
| Taxes | 670/3 | €3,310 | €8,859 | +€5,549 | +168% |
| Profit (loss) for the period | 9904 | €19,241 | €25,443 | +€6,202 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,241 | €25,443 | +€6,202 | +32.2% |
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 18 October 2026 via checked.be.