HB LOGISTICS: 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.
HB LOGISTICS
Largest movements
- Receivables within one year +€46,077
up €46,077 (+53.2%), from €86,564 to €132,641
of which Trade receivables: +€39,901
- Cash +€22,126
up €22,126 (+97.5%), from €22,699 to €44,825
mainly Net result for the year (+€25,925) and Depreciation (+€12,073)
- Intangible fixed assets -€9,000
down €9,000 (-11.1%), from €81,344 to €72,344
- Deferred charges and accrued income +€4,122
new in 2025: €4,122
- Tangible fixed assets -€3,073
down €3,073 (-35.1%), from €8,755 to €5,682
of which Plant, machinery and equipment: -€1,700
- Profit (loss) carried forward +€25,925
up €25,925 (+45.8%), from €56,658 to €82,583
- Trade debts +€11,601
up €11,601 (+13.4%), from €86,267 to €97,868
- Other debts +€11,494
up €11,494 (+92.8%), from €12,381 to €23,875
- Tax, wage and social debts +€11,233
up €11,233 (+27.3%), from €41,107 to €52,340
of which Taxes: +€11,419
- Gross operating margin +€16,450
up €16,450 (+9.9%), from €165,932 to €182,382
- Taxes +€13,701
up €13,701, from -€2,640 to €11,061
- Staff costs -€12,889
down €12,889 (-8.9%), from €145,258 to €132,369
- Other operating charges -€3,626
down €3,626 (-77.4%), from €4,683 to €1,057
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 | €199,413 | €259,665 | +€60,252 | +30.2% |
| Fixed assets | 21/28 | €90,149 | €78,076 | -€12,073 | -13.4% |
| Intangible fixed assets | 21 | €81,344 | €72,344 | -€9,000 | -11.1% |
| Tangible fixed assets | 22/27 | €8,755 | €5,682 | -€3,073 | -35.1% |
| Plant, machinery and equipment | 23 | €6,264 | €4,564 | -€1,700 | -27.1% |
| Furniture and vehicles | 24 | €2,491 | €1,118 | -€1,373 | -55.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €109,263 | €181,588 | +€72,325 | +66.2% |
| Amounts receivable within one year | 40/41 | €86,564 | €132,641 | +€46,077 | +53.2% |
| Trade receivables | 40 | €84,487 | €124,387 | +€39,901 | +47.2% |
| Other amounts receivable | 41 | €2,078 | €8,253 | +€6,176 | +297.3% |
| Cash at bank and in hand | 54/58 | €22,699 | €44,825 | +€22,126 | +97.5% |
| Deferred charges and accrued income | 490/1 | - | €4,122 | +€4,122 | |
| Total equity and liabilities | 10/49 | €199,413 | €259,665 | +€60,252 | +30.2% |
| Equity | 10/15 | €59,658 | €85,583 | +€25,925 | +43.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,658 | €82,583 | +€25,925 | +45.8% |
| Amounts payable | 17/49 | €139,755 | €174,082 | +€34,327 | +24.6% |
| Amounts payable within one year | 42/48 | €139,755 | €174,082 | +€34,327 | +24.6% |
| Trade debts | 44 | €86,267 | €97,868 | +€11,601 | +13.4% |
| Suppliers | 440/4 | €86,267 | €97,868 | +€11,601 | +13.4% |
| Taxes, remuneration and social security | 45 | €41,107 | €52,340 | +€11,233 | +27.3% |
| Taxes | 450/3 | €15,422 | €26,841 | +€11,419 | +74.0% |
| Remuneration and social security | 454/9 | €25,685 | €25,499 | -€187 | -0.7% |
| Other amounts payable | 47/48 | €12,381 | €23,875 | +€11,494 | +92.8% |
| Remuneration, social security and pensions | 62 | €145,258 | €132,369 | -€12,889 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,729 | €12,073 | +€344 | +2.9% |
| Other operating charges | 640/8 | €4,683 | €1,057 | -€3,626 | -77.4% |
| Gross operating margin | 9900 | €165,932 | €182,382 | +€16,450 | +9.9% |
| Operating profit (loss) | 9901 | €4,262 | €36,883 | +€32,620 | +765.3% |
| Financial income | 75/76B | €0 | €307 | +€307 | +3069000.0% |
| Recurring financial income | 75 | €0 | €307 | +€307 | +3069000.0% |
| Financial charges | 65/66B | €143 | €204 | +€61 | +42.4% |
| Recurring financial charges | 65 | €143 | €204 | +€61 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €4,119 | €36,985 | +€32,866 | +797.9% |
| Income taxes | 67/77 | -€2,640 | €11,061 | +€13,701 | |
| Profit (loss) for the period | 9904 | €6,759 | €25,925 | +€19,166 | +283.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,759 | €25,925 | +€19,166 | +283.6% |
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 11 October 2026 via checked.be.