HD 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.
HD LOGISTICS
Largest movements
- Cash +€45,568
up €45,568 (+86.5%), from €52,665 to €98,233
mainly Net result for the year (+€53,436) and Receivables within one year (+€12,133)
- Receivables within one year -€12,133
down €12,133 (-88.1%), from €13,765 to €1,632
of which Trade receivables: -€11,250
- Deferred charges and accrued income +€6,143
up €6,143 (+389.2%), from €1,578 to €7,721
- Tangible fixed assets -€1,346
down €1,346 (-39.2%), from €3,436 to €2,090
- Reserves +€32,008
up €32,008 (+66.1%), from €48,416 to €80,424
- Other debts +€4,000
up €4,000 (+36.4%), from €11,000 to €15,000
- Trade debts +€2,123
up €2,123 (+222.2%), from €956 to €3,079
- Gross operating margin -€19,763
down €19,763 (-20.2%), from €97,900 to €78,137
- Other operating charges -€6,026
down €6,026 (-89.2%), from €6,756 to €730
- Taxes -€2,628
down €2,628 (-11.3%), from €23,209 to €20,581
- Depreciation -€982
down €982 (-42.2%), from €2,329 to €1,346
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 | €71,445 | €109,676 | +€38,231 | +53.5% |
| Fixed assets | 21/28 | €3,436 | €2,090 | -€1,346 | -39.2% |
| Tangible fixed assets | 22/27 | €3,436 | €2,090 | -€1,346 | -39.2% |
| Furniture and vehicles | 24 | €3,436 | €2,090 | -€1,346 | -39.2% |
| Current assets | 29/58 | €68,009 | €107,586 | +€39,578 | +58.2% |
| Amounts receivable within one year | 40/41 | €13,765 | €1,632 | -€12,133 | -88.1% |
| Trade receivables | 40 | €12,500 | €1,250 | -€11,250 | -90.0% |
| Other amounts receivable | 41 | €1,265 | €382 | -€883 | -69.8% |
| Cash at bank and in hand | 54/58 | €52,665 | €98,233 | +€45,568 | +86.5% |
| Deferred charges and accrued income | 490/1 | €1,578 | €7,721 | +€6,143 | +389.2% |
| Total equity and liabilities | 10/49 | €71,445 | €109,676 | +€38,231 | +53.5% |
| Equity | 10/15 | €51,416 | €83,424 | +€32,008 | +62.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €48,416 | €80,424 | +€32,008 | +66.1% |
| Distributable reserves | 133 | €48,416 | €80,424 | +€32,008 | +66.1% |
| Amounts payable | 17/49 | €20,029 | €26,252 | +€6,224 | +31.1% |
| Amounts payable within one year | 42/48 | €20,029 | €26,252 | +€6,224 | +31.1% |
| Trade debts | 44 | €956 | €3,079 | +€2,123 | +222.2% |
| Suppliers | 440/4 | €956 | €3,079 | +€2,123 | +222.2% |
| Taxes, remuneration and social security | 45 | €8,073 | €8,174 | +€101 | +1.2% |
| Taxes | 450/3 | €8,073 | €8,174 | +€101 | +1.2% |
| Other amounts payable | 47/48 | €11,000 | €15,000 | +€4,000 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,329 | €1,346 | -€982 | -42.2% |
| Other operating charges | 640/8 | €6,756 | €730 | -€6,026 | -89.2% |
| Gross operating margin | 9900 | €97,900 | €78,137 | -€19,763 | -20.2% |
| Operating profit (loss) | 9901 | €88,815 | €76,061 | -€12,754 | -14.4% |
| Financial income | 75/76B | €134 | €27 | -€107 | -79.8% |
| Recurring financial income | 75 | €134 | €27 | -€107 | -79.8% |
| Financial charges | 65/66B | €1,112 | €2,071 | +€959 | +86.3% |
| Recurring financial charges | 65 | €1,112 | €2,071 | +€959 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | €87,838 | €74,017 | -€13,821 | -15.7% |
| Income taxes | 67/77 | €23,209 | €20,581 | -€2,628 | -11.3% |
| Profit (loss) for the period | 9904 | €64,629 | €53,436 | -€11,193 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,629 | €53,436 | -€11,193 | -17.3% |
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 29 September 2026 via checked.be.