Fransen 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.
Fransen Logistics
Largest movements
- Tangible fixed assets -€169,010
down €169,010 (-20.3%), from €831,028 to €662,018
of which Leasing and similar rights: -€143,480
- Debts after one year -€141,431
down €141,431 (-25.1%), from €563,304 to €421,873
- Profit (loss) carried forward -€19,553
down €19,553 (-97.3%), from €20,097 to €544
- Gross operating margin -€214,613
down €214,613 (-25.7%), from €835,135 to €620,522
- Depreciation -€77,001
down €77,001 (-26.3%), from €293,203 to €216,202
- Staff costs -€62,569
down €62,569 (-15.6%), from €401,090 to €338,521
- Financial charges -€18,967
down €18,967 (-39.2%), from €48,433 to €29,465
- Taxes -€14,222
down €14,222 (-83.2%), from €17,084 to €2,862
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 | €1,079,290 | €920,167 | -€159,123 | -14.7% |
| Fixed assets | 21/28 | €831,728 | €662,918 | -€168,810 | -20.3% |
| Tangible fixed assets | 22/27 | €831,028 | €662,018 | -€169,010 | -20.3% |
| Plant, machinery and equipment | 23 | €5,316 | €4,248 | -€1,068 | -20.1% |
| Furniture and vehicles | 24 | €67,014 | €42,552 | -€24,463 | -36.5% |
| Leasing and similar rights | 25 | €758,698 | €615,218 | -€143,480 | -18.9% |
| Financial fixed assets | 28 | €700 | €900 | +€200 | +28.6% |
| Current assets | 29/58 | €247,562 | €257,249 | +€9,687 | +3.9% |
| Amounts receivable within one year | 40/41 | €227,730 | €238,331 | +€10,601 | +4.7% |
| Trade receivables | 40 | €105,511 | €107,363 | +€1,853 | +1.8% |
| Other amounts receivable | 41 | €122,220 | €130,968 | +€8,748 | +7.2% |
| Cash at bank and in hand | 54/58 | €12,500 | €11,751 | -€749 | -6.0% |
| Deferred charges and accrued income | 490/1 | €7,332 | €7,167 | -€165 | -2.3% |
| Total equity and liabilities | 10/49 | €1,079,290 | €920,167 | -€159,123 | -14.7% |
| Equity | 10/15 | €170,097 | €150,544 | -€19,553 | -11.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,097 | €544 | -€19,553 | -97.3% |
| Amounts payable | 17/49 | €909,193 | €769,623 | -€139,570 | -15.4% |
| Amounts payable after more than one year | 17 | €563,304 | €421,873 | -€141,431 | -25.1% |
| Financial debts | 170/4 | €563,304 | €421,873 | -€141,431 | -25.1% |
| Amounts payable within one year | 42/48 | €345,889 | €347,750 | +€1,861 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €187,280 | €184,815 | -€2,466 | -1.3% |
| Trade debts | 44 | €37,119 | €33,890 | -€3,230 | -8.7% |
| Suppliers | 440/4 | €37,119 | €33,890 | -€3,230 | -8.7% |
| Taxes, remuneration and social security | 45 | €71,489 | €77,045 | +€5,556 | +7.8% |
| Taxes | 450/3 | €31,399 | €37,553 | +€6,154 | +19.6% |
| Remuneration and social security | 454/9 | €40,090 | €39,492 | -€598 | -1.5% |
| Other amounts payable | 47/48 | €50,000 | €52,000 | +€2,000 | +4.0% |
| Remuneration, social security and pensions | 62 | €401,090 | €338,521 | -€62,569 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293,203 | €216,202 | -€77,001 | -26.3% |
| Other operating charges | 640/8 | €9,565 | €4,088 | -€5,477 | -57.3% |
| Gross operating margin | 9900 | €835,135 | €620,522 | -€214,613 | -25.7% |
| Operating profit (loss) | 9901 | €131,277 | €61,711 | -€69,566 | -53.0% |
| Financial income | 75/76B | €4,336 | €3,063 | -€1,273 | -29.4% |
| Recurring financial income | 75 | €4,336 | €3,063 | -€1,273 | -29.4% |
| Financial charges | 65/66B | €48,433 | €29,465 | -€18,967 | -39.2% |
| Recurring financial charges | 65 | €48,433 | €29,465 | -€18,967 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €87,181 | €35,309 | -€51,872 | -59.5% |
| Income taxes | 67/77 | €17,084 | €2,862 | -€14,222 | -83.2% |
| Profit (loss) for the period | 9904 | €70,097 | €32,447 | -€37,650 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,097 | €32,447 | -€37,650 | -53.7% |
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.