FLEETCO: 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
FLEETCO
NACE 77.110, Renting and leasing of cars and light motor vehicles
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€1.9m
2025 · €2.2m-€298,830
Equity
€57.0m
2025 · €55.1m+€1.9m
Cash
€11.6m
2025 · €20.9m-€9.3m
Balance sheet total
€189.7m
2025 · €185.5m+€4.2m
Largest movements
Assets
- Tangible fixed assets +€13.5m
up €13.5m (+9.1%), from €148.1m to €161.6m
of which Furniture and vehicles: +€12.7m
- Cash -€9.3m
down €9.3m (-44.3%), from €20.9m to €11.6m
mainly Investment in fixed assets (net) (-€53.0m) and Debts after one year (-€52.2m)
Equity and liabilities
- Debts after one year -€52.2m
down €52.2m (-50.0%), from €104.5m to €52.3m
- Current portion of long-term debt +€50.1m
up €50.1m (+2,386%), from €2.1m to €52.2m
- Trade debts +€4.4m
up €4.4m (+18.4%), from €23.8m to €28.2m
Income statement
- Depreciation -€7.2m
down €7.2m (-15.5%), from €46.7m to €39.5m
- Other operating income -€6.7m
down €6.7m (-84.6%), from €8.0m to €1.2m
- Services and other goods +€3.8m
up €3.8m (+10.8%), from €35.7m to €39.6m
- Turnover +€2.3m
up €2.3m (+2.7%), from €83.6m to €85.9m
From the 2025 result to the 2026 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 2025
€2.2m
Turnover
+€2.3m
Other operating income
-€6.7m
Services and other goods
-€3.8m
Depreciation
+€7.2m
Write-downs
-€18,038
Other operating charges
+€726,024
Financial income
+€115,465
Financial charges
-€240,182
Taxes
+€229,436
Deferred taxes and other
+€2,434
Result 2026
€1.9m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€45.9m
Investment
-€53.0m
Financing
-€2.1m
Cash 2025
€20.9m
From operations (derived)
+€45.9m
Net result for the year
+€1.9m
Depreciation
+€39.5m
Receivables within one year
-€170,935
Deferred charges and accrued income
+€258,224
Provisions
-€5,452
Trade debts
+€4.4m
Investment (derived)
-€53.0m
Investment in fixed assets (net)
-€53.0m
Financing
-€2.1m
Debts after one year
-€52.2m
Current portion of long-term debt
+€50.1m
Cash 2026
€11.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,535,875 | €189,721,781 | +€4.2m | +2.3% |
| Fixed assets | 21/28 | €148,071,186 | €161,606,921 | +€13.5m | +9.1% |
| Tangible fixed assets | 22/27 | €148,071,005 | €161,606,740 | +€13.5m | +9.1% |
| Plant, machinery and equipment | 23 | €3,575,071 | €5,959,297 | +€2.4m | +66.7% |
| Furniture and vehicles | 24 | €136,994,635 | €149,725,237 | +€12.7m | +9.3% |
| Leasing and similar rights | 25 | €7,475,713 | €5,922,206 | -€1.6m | -20.8% |
| Assets under construction and advance payments | 27 | €25,587 | - | -€25,587 | |
| Financial fixed assets | 28 | €181 | €181 | = | 0.0% |
| Affiliated companies | 280/1 | €181 | €181 | = | 0.0% |
| Participating interests | 280 | €181 | €181 | = | 0.0% |
| Current assets | 29/58 | €37,464,689 | €28,114,860 | -€9.3m | -25.0% |
| Amounts receivable within one year | 40/41 | €15,488,396 | €15,659,331 | +€170,935 | +1.1% |
| Trade receivables | 40 | €14,841,239 | €15,595,482 | +€754,243 | +5.1% |
| Other amounts receivable | 41 | €647,157 | €63,850 | -€583,308 | -90.1% |
| Cash at bank and in hand | 54/58 | €20,906,034 | €11,643,495 | -€9.3m | -44.3% |
| Deferred charges and accrued income | 490/1 | €1,070,258 | €812,034 | -€258,224 | -24.1% |
| Total equity and liabilities | 10/49 | €185,535,875 | €189,721,781 | +€4.2m | +2.3% |
| Equity | 10/15 | €55,123,476 | €57,024,390 | +€1.9m | +3.4% |
| Contributions | 10/11 | €20,800,000 | €20,800,000 | = | 0.0% |
| Capital | 10 | €20,800,000 | €20,800,000 | = | 0.0% |
| Issued capital | 100 | €20,800,000 | €20,800,000 | = | 0.0% |
| Reserves | 13 | €1,912,924 | €2,096,500 | +€183,576 | +9.6% |
| Non-distributable reserves | 130/1 | €1,236,744 | €1,327,130 | +€90,386 | +7.3% |
| Legal reserve | 130 | €1,236,744 | €1,327,130 | +€90,386 | +7.3% |
| Tax-exempt reserves | 132 | €676,180 | €769,370 | +€93,190 | +13.8% |
| Profit (loss) carried forward | 14 | €32,410,551 | €34,127,890 | +€1.7m | +5.3% |
| Provisions and deferred taxes | 16 | €51,919 | €46,467 | -€5,452 | -10.5% |
| Deferred taxes | 168 | €51,919 | €46,467 | -€5,452 | -10.5% |
| Amounts payable | 17/49 | €130,360,481 | €132,650,924 | +€2.3m | +1.8% |
| Amounts payable after more than one year | 17 | €104,462,727 | €52,276,663 | -€52.2m | -50.0% |
| Financial debts | 170/4 | €104,462,727 | €52,276,663 | -€52.2m | -50.0% |
| Leasing and similar obligations | 172 | €4,462,727 | €2,276,663 | -€2.2m | -49.0% |
| Other loans | 174 | €100,000,000 | €50,000,000 | -€50.0m | -50.0% |
| Amounts payable within one year | 42/48 | €25,897,754 | €80,374,262 | +€54.5m | +210% |
| Current portion of amounts payable after more than one year | 42 | €2,099,070 | €52,186,064 | +€50.1m | +2,386% |
| Trade debts | 44 | €23,798,684 | €28,188,198 | +€4.4m | +18.4% |
| Suppliers | 440/4 | €23,798,684 | €28,188,198 | +€4.4m | +18.4% |
| Operating income | 70/76A | €91,618,932 | €87,129,419 | -€4.5m | -4.9% |
| Turnover | 70 | €83,647,284 | €85,903,073 | +€2.3m | +2.7% |
| Other operating income | 74 | €7,971,648 | €1,226,346 | -€6.7m | -84.6% |
| Operating charges | 60/66A | €85,504,059 | €81,420,529 | -€4.1m | -4.8% |
| Services and other goods | 61 | €35,717,251 | €39,564,827 | +€3.8m | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,714,632 | €39,491,512 | -€7.2m | -15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€38,811 | -€20,773 | +€18,038 | +46.5% |
| Other operating charges | 640/8 | €3,110,987 | €2,384,963 | -€726,024 | -23.3% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -83.3% |
| Operating profit (loss) | 9901 | €6,114,873 | €5,708,890 | -€405,984 | -6.6% |
| Financial income | 75/76B | €27,179 | €142,644 | +€115,465 | +425% |
| Recurring financial income | 75 | €27,179 | €142,644 | +€115,465 | +425% |
| Income from current assets | 751 | €27,179 | €142,644 | +€115,465 | +425% |
| Financial charges | 65/66B | €3,241,233 | €3,481,416 | +€240,182 | +7.4% |
| Recurring financial charges | 65 | €3,241,233 | €3,481,416 | +€240,182 | +7.4% |
| Debt charges | 650 | €3,240,980 | €3,481,155 | +€240,174 | +7.4% |
| Other financial charges | 652/9 | €253 | €261 | +€8 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €2,900,819 | €2,370,118 | -€530,701 | -18.3% |
| Transfer from deferred taxes | 780 | €3,018 | €5,452 | +€2,434 | +80.7% |
| Income taxes | 67/77 | €704,092 | €474,655 | -€229,436 | -32.6% |
| Taxes | 670/3 | €704,092 | €576,085 | -€128,006 | -18.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €101,430 | +€101,430 | |
| Profit (loss) for the period | 9904 | €2,199,745 | €1,900,915 | -€298,830 | -13.6% |
| Transfer from tax-exempt reserves | 789 | €9,053 | €16,355 | +€7,303 | +80.7% |
| Transfer to tax-exempt reserves | 689 | €140,990 | €109,545 | -€31,445 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,067,807 | €1,807,725 | -€260,083 | -12.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.