FS EXPRESS: what changed
What changed
FS EXPRESS
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
-€10,384
2024 · -€4,025-€6,360
Equity
€165,574
2024 · €188,138-€22,563
Cash
€53,597
2024 · €77,564-€23,967
Balance sheet total
€202,226
2024 · €242,051-€39,825
Largest movements
Assets
- Tangible fixed assets -€25,563
down €25,563 (-36.9%), from €69,250 to €43,687
of which Furniture and vehicles: -€23,732
- Cash -€23,967
down €23,967 (-30.9%), from €77,564 to €53,597
mainly Other debts (-€16,118) and Contributions, distributions and other (-€12,179)
- Deferred charges and accrued income +€9,373
up €9,373 (+452%), from €2,072 to €11,445
Equity and liabilities
- Reserves -€22,563
down €22,563 (-13.3%), from €169,538 to €146,974
- Other debts -€16,118
down €16,118 (-62.9%), from €25,605 to €9,487
Income statement
- Gross operating margin -€31,688
down €31,688 (-26.9%), from €117,817 to €86,129
- Staff costs -€21,887
down €21,887 (-26.1%), from €83,698 to €61,811
- Write-downs -€6,500
new in 2025: -€6,500
- Other operating charges +€4,942
up €4,942 (+75.9%), from €6,513 to €11,455
Change in the result, 2024 to 2025
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 2024
-€4,025
Gross operating margin
-€31,688
Staff costs
+€21,887
Depreciation
+€809
Write-downs
+€6,500
Other operating charges
-€4,942
Financial income
+€5
Financial charges
+€616
Taxes
+€454
Result 2025
-€10,384
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€9,016
Investment
-€2,771
Financing
-€12,179
Cash 2024
€77,564
From operations (derived)
-€9,016
Net result for the year
-€10,384
Depreciation
+€28,334
Receivables within one year
-€331
Deferred charges and accrued income
-€9,373
Trade debts
-€2,165
Tax, wage and social debts
-€242
Advances received
+€1,264
Other debts
-€16,118
Investment (derived)
-€2,771
Investment in fixed assets (net)
-€2,771
Financing
-€12,179
Contributions, distributions and other
-€12,179
Cash 2025
€53,597
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €242,051 | €202,226 | -€39,825 | -16.5% |
| Fixed assets | 21/28 | €69,250 | €43,687 | -€25,563 | -36.9% |
| Tangible fixed assets | 22/27 | €69,250 | €43,687 | -€25,563 | -36.9% |
| Land and buildings | 22 | €7,101 | €6,106 | -€995 | -14.0% |
| Plant, machinery and equipment | 23 | €1,899 | €943 | -€956 | -50.3% |
| Furniture and vehicles | 24 | €54,153 | €30,421 | -€23,732 | -43.8% |
| Other tangible fixed assets | 26 | €6,097 | €6,218 | +€120 | +2.0% |
| Current assets | 29/58 | €172,801 | €158,538 | -€14,262 | -8.3% |
| Amounts receivable within one year | 40/41 | €93,165 | €93,496 | +€331 | +0.4% |
| Trade receivables | 40 | €87,982 | €83,580 | -€4,402 | -5.0% |
| Other amounts receivable | 41 | €5,182 | €9,916 | +€4,734 | +91.3% |
| Cash at bank and in hand | 54/58 | €77,564 | €53,597 | -€23,967 | -30.9% |
| Deferred charges and accrued income | 490/1 | €2,072 | €11,445 | +€9,373 | +452% |
| Total equity and liabilities | 10/49 | €242,051 | €202,226 | -€39,825 | -16.5% |
| Equity | 10/15 | €188,138 | €165,574 | -€22,563 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €169,538 | €146,974 | -€22,563 | -13.3% |
| Distributable reserves | 133 | €169,538 | €146,974 | -€22,563 | -13.3% |
| Amounts payable | 17/49 | €53,913 | €36,652 | -€17,261 | -32.0% |
| Amounts payable within one year | 42/48 | €53,913 | €36,652 | -€17,261 | -32.0% |
| Trade debts | 44 | €15,318 | €13,152 | -€2,165 | -14.1% |
| Suppliers | 440/4 | €15,318 | €13,152 | -€2,165 | -14.1% |
| Advances received on contracts in progress | 46 | - | €1,264 | +€1,264 | |
| Taxes, remuneration and social security | 45 | €12,990 | €12,748 | -€242 | -1.9% |
| Taxes | 450/3 | €5,345 | €7,322 | +€1,977 | +37.0% |
| Remuneration and social security | 454/9 | €7,645 | €5,427 | -€2,218 | -29.0% |
| Other amounts payable | 47/48 | €25,605 | €9,487 | -€16,118 | -62.9% |
| Non-recurring operating income | 76A | €188 | €250 | +€63 | +33.3% |
| Remuneration, social security and pensions | 62 | €83,698 | €61,811 | -€21,887 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,143 | €28,334 | -€809 | -2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,500 | -€6,500 | |
| Other operating charges | 640/8 | €6,513 | €11,455 | +€4,942 | +75.9% |
| Gross operating margin | 9900 | €117,817 | €86,129 | -€31,688 | -26.9% |
| Operating profit (loss) | 9901 | -€1,537 | -€8,971 | -€7,434 | -484% |
| Financial income | 75/76B | €1 | €6 | +€5 | +593% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +593% |
| Financial charges | 65/66B | €1,634 | €1,018 | -€616 | -37.7% |
| Recurring financial charges | 65 | €1,134 | €1,018 | -€116 | -10.2% |
| Non-recurring financial charges | 66B | €500 | - | -€500 | |
| Profit (loss) for the period before taxes | 9903 | -€3,170 | -€9,983 | -€6,813 | -215% |
| Income taxes | 67/77 | €855 | €401 | -€454 | -53.1% |
| Profit (loss) for the period | 9904 | -€4,025 | -€10,384 | -€6,360 | -158% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,025 | -€10,384 | -€6,360 | -158% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.