H Logistics: 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.
H Logistics
Largest movements
- Receivables within one year +€63,003
up €63,003 (+72.9%), from €86,436 to €149,439
of which Other amounts receivable: +€71,786
- Tangible fixed assets +€37,793
up €37,793 (+46.5%), from €81,240 to €119,033
of which Leasing and similar rights: +€44,103
- Deferred charges and accrued income +€8,159
new in 2025: €8,159
- Current investments +€5,000
new in 2025: €5,000
- Trade debts +€79,319
up €79,319 (+937.5%), from €8,461 to €87,780
- Current portion of long-term debt +€38,595
up €38,595 (+150.5%), from €25,644 to €64,239
- Profit (loss) carried forward -€9,629
down €9,629 (-53.0%), from €18,183 to €8,554
- Debts after one year +€4,365
up €4,365 (+22.2%), from €19,618 to €23,983
- Turnover +€541,379
new in 2025: €541,379
- Purchases and services +€294,013
new in 2025: €294,013
- Gross operating margin +€70,131
up €70,131 (+37.5%), from €187,034 to €257,165
- Staff costs +€24,477
up €24,477 (+16.0%), from €152,932 to €177,409
- Depreciation +€24,242
up €24,242 (+82.2%), from €29,501 to €53,743
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €181,009 | €295,463 | +€114,454 | +63.2% |
| Fixed assets | 21/28 | €91,240 | €129,033 | +€37,793 | +41.4% |
| Tangible fixed assets | 22/27 | €81,240 | €119,033 | +€37,793 | +46.5% |
| Plant, machinery and equipment | 23 | €928 | €309 | -€619 | -66.7% |
| Furniture and vehicles | 24 | €28,182 | €22,491 | -€5,692 | -20.2% |
| Leasing and similar rights | 25 | €52,130 | €96,233 | +€44,103 | +84.6% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €89,769 | €166,430 | +€76,661 | +85.4% |
| Amounts receivable within one year | 40/41 | €86,436 | €149,439 | +€63,003 | +72.9% |
| Trade receivables | 40 | €86,436 | €77,654 | -€8,782 | -10.2% |
| Other amounts receivable | 41 | - | €71,786 | +€71,786 | |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €3,333 | €3,832 | +€499 | +15.0% |
| Deferred charges and accrued income | 490/1 | - | €8,159 | +€8,159 | |
| Total equity and liabilities | 10/49 | €181,009 | €295,463 | +€114,454 | +63.2% |
| Equity | 10/15 | €22,183 | €12,554 | -€9,629 | -43.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,183 | €8,554 | -€9,629 | -53.0% |
| Amounts payable | 17/49 | €158,827 | €282,909 | +€124,082 | +78.1% |
| Amounts payable after more than one year | 17 | €19,618 | €23,983 | +€4,365 | +22.2% |
| Financial debts | 170/4 | €19,618 | €23,983 | +€4,365 | +22.2% |
| Amounts payable within one year | 42/48 | €139,209 | €258,926 | +€119,718 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | €25,644 | €64,239 | +€38,595 | +150.5% |
| Trade debts | 44 | €8,461 | €87,780 | +€79,319 | +937.5% |
| Suppliers | 440/4 | €8,461 | €87,780 | +€79,319 | +937.5% |
| Taxes, remuneration and social security | 45 | €105,104 | €106,908 | +€1,804 | +1.7% |
| Taxes | 450/3 | €62,930 | €55,629 | -€7,301 | -11.6% |
| Remuneration and social security | 454/9 | €42,173 | €51,279 | +€9,105 | +21.6% |
| Turnover | 70 | - | €541,379 | +€541,379 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €294,013 | +€294,013 | |
| Remuneration, social security and pensions | 62 | €152,932 | €177,409 | +€24,477 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,501 | €53,743 | +€24,242 | +82.2% |
| Other operating charges | 640/8 | €4,870 | €25,230 | +€20,360 | +418.1% |
| Non-recurring operating charges | 66A | €65 | - | -€65 | |
| Gross operating margin | 9900 | €187,034 | €257,165 | +€70,131 | +37.5% |
| Operating profit (loss) | 9901 | -€334 | €783 | +€1,118 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,844 | €10,345 | +€6,501 | +169.1% |
| Recurring financial charges | 65 | €3,844 | €10,345 | +€6,501 | +169.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,178 | -€9,561 | -€5,383 | -128.8% |
| Income taxes | 67/77 | €704 | €68 | -€636 | -90.4% |
| Profit (loss) for the period | 9904 | -€4,882 | -€9,629 | -€4,747 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,882 | -€9,629 | -€4,747 | -97.2% |
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 8 October 2026 via checked.be.