FULL LOGISTIC THUIN: what changed
Two fiscal 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
FULL LOGISTIC THUIN
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€535,882
2024 · €414,115+€121,767
Equity
€2.9m
2024 · €2.6m+€380,545
Cash
€1.8m
2024 · €1.0m+€715,834
Balance sheet total
€5.9m
2024 · €6.4m-€462,460
Largest movements
Assets
- Tangible fixed assets -€763,297
down €763,297 (-22.7%), from €3.4m to €2.6m
of which Leasing and similar rights: -€651,189
- Cash +€715,834
up €715,834 (+69.1%), from €1.0m to €1.8m
mainly Depreciation (+€973,064) and Net result for the year (+€535,882)
- Current investments -€300,000
down €300,000 (-50.0%), from €600,000 to €300,000
- Receivables within one year -€134,526
down €134,526 (-10.3%), from €1.3m to €1.2m
of which Trade receivables: -€118,837
Equity and liabilities
- Debts after one year -€649,951
down €649,951 (-38.4%), from €1.7m to €1.0m
- Profit (loss) carried forward +€279,567
up €279,567 (+20.7%), from €1.3m to €1.6m
- Current portion of long-term debt -€136,103
down €136,103 (-15.9%), from €858,641 to €722,538
- Other debts -€124,349
down €124,349 (-80.8%), from €153,915 to €29,566
- Reserves +€106,315
up €106,315 (+12.8%), from €833,327 to €939,642
of which Tax-exempt reserves: +€106,315
Income statement
- Turnover +€121,349
up €121,349 (+1.4%), from €8.9m to €9.1m
- Staff costs +€106,293
up €106,293 (+2.6%), from €4.2m to €4.3m
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
€414,115
Turnover
+€121,349
Other operating income
+€45,435
Goods and materials
+€4,928
Services and other goods
+€65,787
Staff costs
-€106,293
Depreciation
+€56,982
Write-downs
-€1,770
Other operating charges
-€26,977
Other operating items
-€7,733
Financial income
-€5,321
Financial charges
+€10,430
Taxes
-€33,347
Deferred taxes and other
-€1,703
Result 2025
€535,882
Cash bridge derived
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
+€1.6m
Investment
+€90,233
Financing
-€948,648
Cash 2024
€1.0m
From operations (derived)
+€1.6m
Net result for the year
+€535,882
Depreciation
+€973,064
Receivables within one year
+€134,526
Deferred charges and accrued income
-€19,530
Provisions
-€9,978
Trade debts
+€60,623
Tax, wage and social debts
+€24,011
Other debts
-€124,349
Investment (derived)
+€90,233
Investment in fixed assets (net)
-€209,767
Current investments
+€300,000
Financing
-€948,648
Debts after one year
-€649,951
Current portion of long-term debt
-€136,103
Short-term financial debts
-€7,257
Contributions, distributions and other
-€155,337
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,367,617 | €5,905,158 | -€462,460 | -7.3% |
| Fixed assets | 21/28 | €3,366,254 | €2,602,957 | -€763,297 | -22.7% |
| Tangible fixed assets | 22/27 | €3,361,071 | €2,597,774 | -€763,297 | -22.7% |
| Land and buildings | 22 | €873,285 | €780,414 | -€92,870 | -10.6% |
| Plant, machinery and equipment | 23 | €59,939 | €41,232 | -€18,707 | -31.2% |
| Furniture and vehicles | 24 | €326,063 | €325,532 | -€531 | -0.2% |
| Leasing and similar rights | 25 | €2,101,784 | €1,450,595 | -€651,189 | -31.0% |
| Financial fixed assets | 28 | €5,183 | €5,183 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,183 | €5,183 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,183 | €5,183 | = | 0.0% |
| Current assets | 29/58 | €3,001,364 | €3,302,201 | +€300,837 | +10.0% |
| Amounts receivable within one year | 40/41 | €1,312,116 | €1,177,590 | -€134,526 | -10.3% |
| Trade receivables | 40 | €1,283,250 | €1,164,413 | -€118,837 | -9.3% |
| Other amounts receivable | 41 | €28,867 | €13,177 | -€15,689 | -54.4% |
| Current investments | 50/53 | €600,000 | €300,000 | -€300,000 | -50.0% |
| Other investments | 51/53 | €600,000 | €300,000 | -€300,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €1,036,113 | €1,751,947 | +€715,834 | +69.1% |
| Deferred charges and accrued income | 490/1 | €53,134 | €72,664 | +€19,530 | +36.8% |
| Total equity and liabilities | 10/49 | €6,367,617 | €5,905,158 | -€462,460 | -7.3% |
| Equity | 10/15 | €2,562,828 | €2,943,373 | +€380,545 | +14.8% |
| Contributions | 10/11 | €338,000 | €338,000 | = | 0.0% |
| Capital | 10 | €338,000 | €338,000 | = | 0.0% |
| Issued capital | 100 | €338,000 | €338,000 | = | 0.0% |
| Reserves | 13 | €833,327 | €939,642 | +€106,315 | +12.8% |
| Non-distributable reserves | 130/1 | €33,800 | €33,800 | = | 0.0% |
| Legal reserve | 130 | - | €33,800 | +€33,800 | |
| Reserves not available under the articles | 1311 | €33,800 | - | -€33,800 | |
| Tax-exempt reserves | 132 | €799,527 | €905,842 | +€106,315 | +13.3% |
| Profit (loss) carried forward | 14 | €1,349,138 | €1,628,704 | +€279,567 | +20.7% |
| Investment grants | 15 | €42,364 | €37,027 | -€5,337 | -12.6% |
| Provisions and deferred taxes | 16 | €34,785 | €24,807 | -€9,978 | -28.7% |
| Deferred taxes | 168 | €34,785 | €24,807 | -€9,978 | -28.7% |
| Amounts payable | 17/49 | €3,770,004 | €2,936,978 | -€833,027 | -22.1% |
| Amounts payable after more than one year | 17 | €1,691,901 | €1,041,949 | -€649,951 | -38.4% |
| Financial debts | 170/4 | €1,691,901 | €1,041,949 | -€649,951 | -38.4% |
| Leasing and similar obligations | 172 | €1,480,590 | €909,905 | -€570,686 | -38.5% |
| Credit institutions | 173 | €211,310 | €132,045 | -€79,265 | -37.5% |
| Amounts payable within one year | 42/48 | €2,078,104 | €1,895,028 | -€183,075 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €858,641 | €722,538 | -€136,103 | -15.9% |
| Financial debts | 43 | €93,903 | €86,646 | -€7,257 | -7.7% |
| Credit institutions | 430/8 | €93,903 | €86,646 | -€7,257 | -7.7% |
| Trade debts | 44 | €505,571 | €566,194 | +€60,623 | +12.0% |
| Suppliers | 440/4 | €449,392 | €560,008 | +€110,616 | +24.6% |
| Bills of exchange payable | 441 | €56,180 | €6,186 | -€49,994 | -89.0% |
| Taxes, remuneration and social security | 45 | €466,073 | €490,084 | +€24,011 | +5.2% |
| Taxes | 450/3 | €90,847 | €98,920 | +€8,072 | +8.9% |
| Remuneration and social security | 454/9 | €375,226 | €391,165 | +€15,938 | +4.2% |
| Other amounts payable | 47/48 | €153,915 | €29,566 | -€124,349 | -80.8% |
| Operating income | 70/76A | €9,450,663 | €9,617,448 | +€166,785 | +1.8% |
| Turnover | 70 | €8,930,119 | €9,051,468 | +€121,349 | +1.4% |
| Other operating income | 74 | €520,544 | €565,979 | +€45,435 | +8.7% |
| Operating charges | 60/66A | €8,831,403 | €8,846,480 | +€15,077 | +0.2% |
| Goods for resale, raw materials and consumables | 60 | €18,812 | €13,884 | -€4,928 | -26.2% |
| Purchases | 600/8 | €18,812 | €13,884 | -€4,928 | -26.2% |
| Services and other goods | 61 | €3,309,908 | €3,244,121 | -€65,787 | -2.0% |
| Remuneration, social security and pensions | 62 | €4,154,623 | €4,260,916 | +€106,293 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,030,046 | €973,064 | -€56,982 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,770 | +€1,770 | |
| Other operating charges | 640/8 | €318,015 | €344,992 | +€26,977 | +8.5% |
| Non-recurring operating charges | 66A | - | €7,733 | +€7,733 | |
| Operating profit (loss) | 9901 | €619,260 | €770,968 | +€151,708 | +24.5% |
| Financial income | 75/76B | €20,744 | €15,423 | -€5,321 | -25.7% |
| Recurring financial income | 75 | €20,744 | €15,423 | -€5,321 | -25.7% |
| Income from current assets | 751 | €10,696 | €10,700 | +€4 | 0.0% |
| Other financial income | 752/9 | €10,048 | €4,723 | -€5,325 | -53.0% |
| Financial charges | 65/66B | €71,395 | €60,965 | -€10,430 | -14.6% |
| Recurring financial charges | 65 | €71,395 | €60,965 | -€10,430 | -14.6% |
| Debt charges | 650 | €69,552 | €58,823 | -€10,729 | -15.4% |
| Other financial charges | 652/9 | €1,843 | €2,142 | +€299 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €568,608 | €725,426 | +€156,817 | +27.6% |
| Transfer from deferred taxes | 780 | €13,028 | €11,325 | -€1,703 | -13.1% |
| Income taxes | 67/77 | €167,522 | €200,869 | +€33,347 | +19.9% |
| Taxes | 670/3 | €167,522 | €201,183 | +€33,662 | +20.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €315 | +€315 | |
| Profit (loss) for the period | 9904 | €414,115 | €535,882 | +€121,767 | +29.4% |
| Transfer from tax-exempt reserves | 789 | €29,935 | €29,935 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €36,000 | €136,250 | +€100,250 | +278.5% |
| Profit (loss) for the period to be appropriated | 9905 | €408,050 | €429,567 | +€21,517 | +5.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.