FRIGOREXPRESS: 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
FRIGOREXPRESS
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€511,160
2024 · €870,034-€358,874
Equity
€7.8m
2024 · €7.4m+€409,197
Cash
€2.7m
2024 · €1.3m+€1.4m
Balance sheet total
€19.1m
2024 · €15.9m+€3.2m
Largest movements
Assets
- Tangible fixed assets +€2.9m
up €2.9m (+67.0%), from €4.4m to €7.3m
of which Land and buildings: +€2.1m
- Current investments -€1.5m
down €1.5m (-95.6%), from €1.6m to €70,000
- Cash +€1.4m
up €1.4m (+111%), from €1.3m to €2.7m
mainly Current investments (+€1.5m) and Depreciation (+€1.5m)
- Receivables within one year +€342,366
up €342,366 (+4.3%), from €8.1m to €8.4m
of which Trade receivables: +€324,736
Equity and liabilities
- Debts after one year +€1.2m
up €1.2m (+55.7%), from €2.2m to €3.5m
- Trade debts +€705,679
up €705,679 (+14.4%), from €4.9m to €5.6m
- Other debts +€400,000
up €400,000 (+399%), from €100,236 to €500,236
- Current portion of long-term debt +€334,344
up €334,344 (+33.5%), from €998,622 to €1.3m
- Reserves +€239,197
up €239,197 (+3.3%), from €7.3m to €7.5m
of which Tax-exempt reserves: +€141,160
Income statement
- Turnover +€9.4m
up €9.4m (+20.4%), from €46.2m to €55.6m
- Goods and materials +€7.7m
up €7.7m (+25.3%), from €30.6m to €38.4m
- Services and other goods +€871,477
up €871,477 (+6.7%), from €13.0m to €13.9m
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
€870,034
Turnover
+€9.4m
Other operating income
-€128,092
Goods and materials
-€7.7m
Services and other goods
-€871,477
Staff costs
-€247,086
Depreciation
-€419,818
Write-downs
+€7,239
Other operating charges
-€251,348
Other operating items
-€59,794
Financial income
-€65,027
Financial charges
-€62,208
Taxes
+€52,166
Result 2025
€511,160
raises the resultlowers the resultnot broken down further in the accounts
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
+€2.9m
Investment
-€3.0m
Financing
+€1.5m
Cash 2024
€1.3m
From operations (derived)
+€2.9m
Net result for the year
+€511,160
Depreciation
+€1.5m
Receivables after one year
-€99,140
Receivables within one year
-€342,366
Deferred charges and accrued income
+€103,832
Trade debts
+€705,679
Tax, wage and social debts
+€76,881
Other debts
+€400,000
Accrued charges and deferred income
+€16,406
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€4.5m
Current investments
+€1.5m
Financing
+€1.5m
Debts after one year
+€1.2m
Current portion of long-term debt
+€334,344
Short-term financial debts
+€59,069
Contributions, distributions and other
-€101,963
Cash 2025
€2.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,864,830 | €19,102,736 | +€3.2m | +20.4% |
| Fixed assets | 21/28 | €4,530,000 | €7,524,017 | +€3.0m | +66.1% |
| Intangible fixed assets | 21 | €17,758 | €14,782 | -€2,976 | -16.8% |
| Tangible fixed assets | 22/27 | €4,364,686 | €7,286,925 | +€2.9m | +67.0% |
| Land and buildings | 22 | €1,125,256 | €3,221,761 | +€2.1m | +186% |
| Plant, machinery and equipment | 23 | €85,212 | €114,376 | +€29,165 | +34.2% |
| Furniture and vehicles | 24 | €230,743 | €393,657 | +€162,914 | +70.6% |
| Leasing and similar rights | 25 | €2,923,475 | €3,556,753 | +€633,278 | +21.7% |
| Other tangible fixed assets | 26 | - | €377 | +€377 | |
| Financial fixed assets | 28 | €147,556 | €222,311 | +€74,754 | +50.7% |
| Affiliated companies | 280/1 | €90,000 | €90,000 | = | 0.0% |
| Participating interests | 280 | €90,000 | €90,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €57,556 | €132,311 | +€74,754 | +130% |
| Amounts receivable and cash guarantees | 285/8 | €57,556 | €132,311 | +€74,754 | +130% |
| Current assets | 29/58 | €11,334,830 | €11,578,719 | +€243,889 | +2.2% |
| Amounts receivable after more than one year | 29 | €39,518 | €138,658 | +€99,140 | +251% |
| Other amounts receivable | 291 | €39,518 | €138,658 | +€99,140 | +251% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €8,050,720 | €8,393,085 | +€342,366 | +4.3% |
| Trade receivables | 40 | €7,531,811 | €7,856,547 | +€324,736 | +4.3% |
| Other amounts receivable | 41 | €518,909 | €536,538 | +€17,629 | +3.4% |
| Current investments | 50/53 | €1,583,438 | €70,000 | -€1.5m | -95.6% |
| Other investments | 51/53 | €1,583,438 | €70,000 | -€1.5m | -95.6% |
| Cash at bank and in hand | 54/58 | €1,274,934 | €2,694,588 | +€1.4m | +111% |
| Deferred charges and accrued income | 490/1 | €386,220 | €282,388 | -€103,832 | -26.9% |
| Total equity and liabilities | 10/49 | €15,864,830 | €19,102,736 | +€3.2m | +20.4% |
| Equity | 10/15 | €7,388,360 | €7,797,557 | +€409,197 | +5.5% |
| Contributions | 10/11 | €123,947 | €293,947 | +€170,000 | +137% |
| Capital | 10 | €123,947 | €293,947 | +€170,000 | +137% |
| Issued capital | 100 | €123,947 | €293,947 | +€170,000 | +137% |
| Reserves | 13 | €7,264,414 | €7,503,611 | +€239,197 | +3.3% |
| Non-distributable reserves | 130/1 | €12,395 | €29,395 | +€17,000 | +137% |
| Legal reserve | 130 | €12,395 | €29,395 | +€17,000 | +137% |
| Tax-exempt reserves | 132 | €1,411,686 | €1,552,846 | +€141,160 | +10.0% |
| Distributable reserves | 133 | €5,840,333 | €5,921,370 | +€81,036 | +1.4% |
| Amounts payable | 17/49 | €8,476,470 | €11,305,179 | +€2.8m | +33.4% |
| Amounts payable after more than one year | 17 | €2,219,511 | €3,455,841 | +€1.2m | +55.7% |
| Financial debts | 170/4 | €2,219,511 | €3,455,841 | +€1.2m | +55.7% |
| Leasing and similar obligations | 172 | €2,109,233 | €2,547,473 | +€438,240 | +20.8% |
| Credit institutions | 173 | €59,103 | €899,451 | +€840,347 | +1,422% |
| Other loans | 174 | €51,174 | €8,917 | -€42,257 | -82.6% |
| Amounts payable within one year | 42/48 | €6,255,991 | €7,831,965 | +€1.6m | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €998,622 | €1,332,966 | +€334,344 | +33.5% |
| Financial debts | 43 | €41,779 | €100,848 | +€59,069 | +141% |
| Credit institutions | 430/8 | €41,779 | €100,848 | +€59,069 | +141% |
| Trade debts | 44 | €4,901,477 | €5,607,157 | +€705,679 | +14.4% |
| Suppliers | 440/4 | €4,901,477 | €5,607,157 | +€705,679 | +14.4% |
| Taxes, remuneration and social security | 45 | €213,877 | €290,758 | +€76,881 | +35.9% |
| Taxes | 450/3 | €22,591 | €94,369 | +€71,778 | +318% |
| Remuneration and social security | 454/9 | €191,286 | €196,389 | +€5,103 | +2.7% |
| Other amounts payable | 47/48 | €100,236 | €500,236 | +€400,000 | +399% |
| Accrued charges and deferred income | 492/3 | €968 | €17,373 | +€16,406 | +1,696% |
| Operating income | 70/76A | €46,956,781 | €56,194,734 | +€9.2m | +19.7% |
| Turnover | 70 | €46,182,687 | €55,608,062 | +€9.4m | +20.4% |
| Other operating income | 74 | €486,692 | €358,600 | -€128,092 | -26.3% |
| Non-recurring operating income | 76A | €287,401 | €228,072 | -€59,329 | -20.6% |
| Operating charges | 60/66A | €46,112,613 | €55,634,372 | +€9.5m | +20.6% |
| Goods for resale, raw materials and consumables | 60 | €30,637,520 | €38,376,325 | +€7.7m | +25.3% |
| Purchases | 600/8 | €30,637,520 | €38,376,325 | +€7.7m | +25.3% |
| Services and other goods | 61 | €13,039,742 | €13,911,219 | +€871,477 | +6.7% |
| Remuneration, social security and pensions | 62 | €975,284 | €1,222,370 | +€247,086 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,090,054 | €1,509,871 | +€419,818 | +38.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,082 | €6,843 | -€7,239 | -51.4% |
| Other operating charges | 640/8 | €355,931 | €607,279 | +€251,348 | +70.6% |
| Non-recurring operating charges | 66A | - | €464 | +€464 | |
| Operating profit (loss) | 9901 | €844,168 | €560,362 | -€283,805 | -33.6% |
| Financial income | 75/76B | €248,462 | €183,435 | -€65,027 | -26.2% |
| Recurring financial income | 75 | €248,462 | €183,435 | -€65,027 | -26.2% |
| Income from financial fixed assets | 750 | €200,000 | €150,000 | -€50,000 | -25.0% |
| Income from current assets | 751 | €48,156 | €31,474 | -€16,682 | -34.6% |
| Other financial income | 752/9 | €306 | €1,961 | +€1,655 | +540% |
| Financial charges | 65/66B | €83,143 | €145,350 | +€62,208 | +74.8% |
| Recurring financial charges | 65 | €83,143 | €145,350 | +€62,208 | +74.8% |
| Debt charges | 650 | €78,955 | €137,398 | +€58,443 | +74.0% |
| Other financial charges | 652/9 | €4,187 | €7,952 | +€3,765 | +89.9% |
| Profit (loss) for the period before taxes | 9903 | €1,009,487 | €598,447 | -€411,040 | -40.7% |
| Income taxes | 67/77 | €139,453 | €87,287 | -€52,166 | -37.4% |
| Taxes | 670/3 | €141,560 | €87,287 | -€54,273 | -38.3% |
| Tax adjustments and reversals of tax provisions | 77 | €2,107 | €0 | -€2,107 | -100% |
| Profit (loss) for the period | 9904 | €870,034 | €511,160 | -€358,874 | -41.2% |
| Transfer to tax-exempt reserves | 689 | €287,401 | €141,160 | -€146,241 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €582,633 | €370,000 | -€212,633 | -36.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.