FRESH EXPRESS BELGIUM: what changed
What changed
FRESH EXPRESS BELGIUM
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
€1.2m
2025 · €1.5m-€313,505
Equity
€178,028
2025 · €408,250-€230,222
Cash
€213,023
2025 · €403,486-€190,463
Balance sheet total
€4.4m
2025 · €3.4m+€962,131
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+536%), from €249,088 to €1.6m
of which Leasing and similar rights: +€1.3m
- Receivables within one year -€225,544
down €225,544 (-9.1%), from €2.5m to €2.2m
of which Other amounts receivable: -€836,992
- Cash -€190,463
down €190,463 (-47.2%), from €403,486 to €213,023
mainly Investment in fixed assets (net) (-€1.6m) and Contributions, distributions and other (-€1.5m)
Equity and liabilities
- Debts after one year +€777,125
up €777,125 (+1,067%), from €72,837 to €849,963
of which Financial debts: +€774,401
- Other debts +€344,507
up €344,507 (+29.7%), from €1.2m to €1.5m
- Current portion of long-term debt +€337,673
up €337,673 (+591%), from €57,101 to €394,775
- Accrued charges and deferred income -€245,803
down €245,803 (-58.2%), from €422,451 to €176,648
- Profit (loss) carried forward -€230,222
down €230,222 (-76.7%), from €300,000 to €69,778
Income statement
- Gross operating margin -€387,602
down €387,602 (-10.9%), from €3.6m to €3.2m
- Depreciation +€165,885
up €165,885 (+125%), from €132,663 to €298,547
- Other operating charges +€138,909
up €138,909 (+386%), from €36,001 to €174,910
- Write-downs -€136,707
down €136,707 (-863%), from -€15,832 to -€152,539
- Taxes -€121,929
down €121,929 (-29.8%), from €409,303 to €287,375
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€1.5m
Gross operating margin
-€387,602
Staff costs
+€118,925
Depreciation
-€165,885
Write-downs
+€136,707
Other operating charges
-€138,909
Other operating items
+€13,634
Financial income
-€14,757
Financial charges
+€2,453
Taxes
+€121,929
Result 2026
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.8m
Investment
-€1.6m
Financing
-€350,193
Cash 2025
€403,486
From operations (derived)
+€1.8m
Net result for the year
+€1.2m
Depreciation
+€298,547
Receivables within one year
+€225,544
Deferred charges and accrued income
-€30,753
Trade debts
+€33,146
Tax, wage and social debts
-€54,305
Other debts
+€344,507
Accrued charges and deferred income
-€245,803
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€350,193
Debts after one year
+€777,125
Current portion of long-term debt
+€337,673
Short-term financial debts
+€8
Contributions, distributions and other
-€1.5m
Cash 2026
€213,023
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,392,944 | €4,355,075 | +€962,131 | +28.4% |
| Fixed assets | 21/28 | €428,319 | €1,775,705 | +€1.3m | +315% |
| Intangible fixed assets | 21 | €25,502 | €16,229 | -€9,272 | -36.4% |
| Tangible fixed assets | 22/27 | €249,088 | €1,583,838 | +€1.3m | +536% |
| Plant, machinery and equipment | 23 | €9,821 | €6,947 | -€2,875 | -29.3% |
| Furniture and vehicles | 24 | €178,787 | €236,972 | +€58,185 | +32.5% |
| Leasing and similar rights | 25 | €60,480 | €1,331,303 | +€1.3m | +2,101% |
| Other tangible fixed assets | 26 | - | €8,616 | +€8,616 | |
| Financial fixed assets | 28 | €153,730 | €175,637 | +€21,907 | +14.3% |
| Current assets | 29/58 | €2,964,625 | €2,579,370 | -€385,255 | -13.0% |
| Amounts receivable within one year | 40/41 | €2,470,408 | €2,244,864 | -€225,544 | -9.1% |
| Trade receivables | 40 | €1,116,879 | €1,728,327 | +€611,448 | +54.7% |
| Other amounts receivable | 41 | €1,353,529 | €516,537 | -€836,992 | -61.8% |
| Cash at bank and in hand | 54/58 | €403,486 | €213,023 | -€190,463 | -47.2% |
| Deferred charges and accrued income | 490/1 | €90,731 | €121,484 | +€30,753 | +33.9% |
| Total equity and liabilities | 10/49 | €3,392,944 | €4,355,075 | +€962,131 | +28.4% |
| Equity | 10/15 | €408,250 | €178,028 | -€230,222 | -56.4% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €86,250 | €86,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €2,050 | €2,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €300,000 | €69,778 | -€230,222 | -76.7% |
| Amounts payable | 17/49 | €2,984,695 | €4,177,047 | +€1.2m | +39.9% |
| Amounts payable after more than one year | 17 | €72,837 | €849,963 | +€777,125 | +1,067% |
| Financial debts | 170/4 | €72,837 | €847,239 | +€774,401 | +1,063% |
| Other amounts payable | 178/9 | - | €2,724 | +€2,724 | |
| Amounts payable within one year | 42/48 | €2,489,407 | €3,150,437 | +€661,030 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €57,101 | €394,775 | +€337,673 | +591% |
| Financial debts | 43 | - | €8 | +€8 | |
| Credit institutions | 430/8 | - | €8 | +€8 | |
| Trade debts | 44 | €1,043,649 | €1,076,796 | +€33,146 | +3.2% |
| Suppliers | 440/4 | €1,043,649 | €1,076,796 | +€33,146 | +3.2% |
| Taxes, remuneration and social security | 45 | €229,340 | €175,035 | -€54,305 | -23.7% |
| Taxes | 450/3 | €12,802 | €13,750 | +€948 | +7.4% |
| Remuneration and social security | 454/9 | €216,538 | €161,285 | -€55,253 | -25.5% |
| Other amounts payable | 47/48 | €1,159,316 | €1,503,824 | +€344,507 | +29.7% |
| Accrued charges and deferred income | 492/3 | €422,451 | €176,648 | -€245,803 | -58.2% |
| Remuneration, social security and pensions | 62 | €1,450,542 | €1,331,617 | -€118,925 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,663 | €298,547 | +€165,885 | +125% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,832 | -€152,539 | -€136,707 | -863% |
| Other operating charges | 640/8 | €36,001 | €174,910 | +€138,909 | +386% |
| Non-recurring operating charges | 66A | €13,634 | - | -€13,634 | |
| Gross operating margin | 9900 | €3,570,629 | €3,183,027 | -€387,602 | -10.9% |
| Operating profit (loss) | 9901 | €1,953,621 | €1,530,492 | -€423,130 | -21.7% |
| Financial income | 75/76B | €42,316 | €27,559 | -€14,757 | -34.9% |
| Recurring financial income | 75 | €42,316 | €27,559 | -€14,757 | -34.9% |
| Financial charges | 65/66B | €38,352 | €35,898 | -€2,453 | -6.4% |
| Recurring financial charges | 65 | €38,352 | €35,898 | -€2,453 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €1,957,586 | €1,522,152 | -€435,434 | -22.2% |
| Income taxes | 67/77 | €409,303 | €287,375 | -€121,929 | -29.8% |
| Profit (loss) for the period | 9904 | €1,548,283 | €1,234,778 | -€313,505 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,548,283 | €1,234,778 | -€313,505 | -20.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.