GH Logistics & Technics: 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.
GH Logistics & Technics
Largest movements
- Tangible fixed assets +€16,513
up €16,513 (+16.7%), from €99,097 to €115,610
of which Land and buildings: +€11,101
- Cash -€3,059
down €3,059 (-15.4%), from €19,912 to €16,853
mainly Contributions, distributions and other (-€37,028) and Investment in fixed assets (net) (-€32,800)
- Reserves -€28,525
down €28,525 (-100%), from €28,525 to €0
- Other debts +€27,221
up €27,221 (+158%), from €17,267 to €44,489
- Current portion of long-term debt +€8,664
up €8,664 (+68.9%), from €12,577 to €21,241
- Debts after one year +€8,246
up €8,246 (+16.4%), from €50,280 to €58,526
- Tax, wage and social debts -€3,000
down €3,000 (-35.2%), from €8,523 to €5,523
of which Taxes: -€3,000
- Gross operating margin -€21,778
down €21,778 (-37.7%), from €57,812 to €36,034
- Taxes -€5,387
down €5,387 (-65.5%), from €8,222 to €2,834
- Depreciation +€5,288
up €5,288 (+42.3%), from €12,499 to €17,787
- Financial charges -€675
down €675 (-10.7%), from €6,304 to €5,629
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 | €140,396 | €151,976 | +€11,581 | +8.2% |
| Fixed assets | 21/28 | €103,972 | €118,985 | +€15,013 | +14.4% |
| Intangible fixed assets | 21 | €4,875 | €3,375 | -€1,500 | -30.8% |
| Tangible fixed assets | 22/27 | €99,097 | €115,610 | +€16,513 | +16.7% |
| Land and buildings | 22 | €77,450 | €88,551 | +€11,101 | +14.3% |
| Plant, machinery and equipment | 23 | €1,650 | €1,251 | -€399 | -24.2% |
| Furniture and vehicles | 24 | €19,997 | €25,808 | +€5,811 | +29.1% |
| Current assets | 29/58 | €36,424 | €32,991 | -€3,432 | -9.4% |
| Stocks and contracts in progress | 3 | - | €450 | +€450 | |
| Stocks | 30/36 | - | €450 | +€450 | |
| Amounts receivable within one year | 40/41 | €15,428 | €14,910 | -€519 | -3.4% |
| Trade receivables | 40 | €13,748 | €12,338 | -€1,410 | -10.3% |
| Other amounts receivable | 41 | €1,680 | €2,572 | +€892 | +53.1% |
| Cash at bank and in hand | 54/58 | €19,912 | €16,853 | -€3,059 | -15.4% |
| Deferred charges and accrued income | 490/1 | €1,084 | €778 | -€305 | -28.2% |
| Total equity and liabilities | 10/49 | €140,396 | €151,976 | +€11,581 | +8.2% |
| Equity | 10/15 | €47,075 | €18,550 | -€28,525 | -60.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €28,525 | €0 | -€28,525 | -100% |
| Distributable reserves | 133 | €28,525 | €0 | -€28,525 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,321 | €133,426 | +€40,105 | +43.0% |
| Amounts payable after more than one year | 17 | €50,280 | €58,526 | +€8,246 | +16.4% |
| Financial debts | 170/4 | €50,280 | €58,526 | +€8,246 | +16.4% |
| Amounts payable within one year | 42/48 | €41,091 | €73,494 | +€32,403 | +78.9% |
| Current portion of amounts payable after more than one year | 42 | €12,577 | €21,241 | +€8,664 | +68.9% |
| Trade debts | 44 | €2,724 | €2,241 | -€482 | -17.7% |
| Suppliers | 440/4 | €2,724 | €2,241 | -€482 | -17.7% |
| Taxes, remuneration and social security | 45 | €8,523 | €5,523 | -€3,000 | -35.2% |
| Taxes | 450/3 | €6,223 | €3,223 | -€3,000 | -48.2% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €17,267 | €44,489 | +€27,221 | +158% |
| Accrued charges and deferred income | 492/3 | €1,950 | €1,406 | -€544 | -27.9% |
| Non-recurring operating income | 76A | €13,500 | €0 | -€13,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,499 | €17,787 | +€5,288 | +42.3% |
| Other operating charges | 640/8 | €1,901 | €1,406 | -€495 | -26.0% |
| Non-recurring operating charges | 66A | €365 | €0 | -€365 | -100% |
| Gross operating margin | 9900 | €57,812 | €36,034 | -€21,778 | -37.7% |
| Operating profit (loss) | 9901 | €43,048 | €16,841 | -€26,206 | -60.9% |
| Financial income | 75/76B | €3 | €125 | +€122 | +4,883% |
| Recurring financial income | 75 | €3 | €125 | +€122 | +4,883% |
| Financial charges | 65/66B | €6,304 | €5,629 | -€675 | -10.7% |
| Recurring financial charges | 65 | €6,304 | €5,629 | -€675 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €36,746 | €11,337 | -€25,409 | -69.1% |
| Income taxes | 67/77 | €8,222 | €2,834 | -€5,387 | -65.5% |
| Profit (loss) for the period | 9904 | €28,525 | €8,503 | -€20,022 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,525 | €8,503 | -€20,022 | -70.2% |
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.