HL Cargo: 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.
HL Cargo
Largest movements
- Tangible fixed assets +€23,695
up €23,695 (+122%), from €19,502 to €43,197
of which Furniture and vehicles: +€23,597
- Cash +€16,797
up €16,797 (+409%), from €4,108 to €20,905
mainly Debts after one year (+€19,051) and Depreciation (+€15,626)
- Receivables within one year -€4,389
down €4,389 (-45.3%), from €9,686 to €5,297
of which Other amounts receivable: -€2,286
- Debts after one year +€19,051
up €19,051 (+341%), from €5,589 to €24,640
- Short-term financial debts +€10,122
up €10,122 (+202%), from €5,000 to €15,122
- Other debts +€8,792
up €8,792 (+1,348%), from €652 to €9,444
- Current portion of long-term debt +€6,086
new in 2025: €6,086
- Profit (loss) carried forward -€5,647
down €5,647 (-51.0%), from €11,072 to €5,425
- Purchases and services +€12,134
up €12,134 (+7.5%), from €162,375 to €174,510
- Depreciation +€5,122
up €5,122 (+48.8%), from €10,504 to €15,626
- Gross operating margin -€2,305
down €2,305 (-7.1%), from €32,355 to €30,050
- Taxes -€2,025
down €2,025 (-68.6%), from €2,953 to €928
- Other operating charges -€752
down €752 (-5.8%), from €13,048 to €12,296
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 | €45,931 | €82,454 | +€36,523 | +79.5% |
| Fixed assets | 21/28 | €28,637 | €52,332 | +€23,695 | +82.7% |
| Tangible fixed assets | 22/27 | €19,502 | €43,197 | +€23,695 | +122% |
| Plant, machinery and equipment | 23 | €319 | €417 | +€98 | +30.7% |
| Furniture and vehicles | 24 | €19,183 | €42,780 | +€23,597 | +123% |
| Financial fixed assets | 28 | €9,135 | €9,135 | = | 0.0% |
| Current assets | 29/58 | €17,294 | €30,122 | +€12,828 | +74.2% |
| Stocks and contracts in progress | 3 | €3,500 | €3,500 | = | 0.0% |
| Stocks | 30/36 | €3,500 | €3,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,686 | €5,297 | -€4,389 | -45.3% |
| Trade receivables | 40 | €7,400 | €5,297 | -€2,103 | -28.4% |
| Other amounts receivable | 41 | €2,286 | - | -€2,286 | |
| Cash at bank and in hand | 54/58 | €4,108 | €20,905 | +€16,797 | +409% |
| Deferred charges and accrued income | 490/1 | - | €420 | +€420 | |
| Total equity and liabilities | 10/49 | €45,931 | €82,454 | +€36,523 | +79.5% |
| Equity | 10/15 | €22,287 | €16,641 | -€5,647 | -25.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,015 | €5,015 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €3,155 | €3,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,072 | €5,425 | -€5,647 | -51.0% |
| Amounts payable | 17/49 | €23,644 | €65,813 | +€42,170 | +178% |
| Amounts payable after more than one year | 17 | €5,589 | €24,640 | +€19,051 | +341% |
| Financial debts | 170/4 | €5,589 | €24,640 | +€19,051 | +341% |
| Amounts payable within one year | 42/48 | €18,055 | €41,173 | +€23,119 | +128% |
| Current portion of amounts payable after more than one year | 42 | - | €6,086 | +€6,086 | |
| Financial debts | 43 | €5,000 | €15,122 | +€10,122 | +202% |
| Credit institutions | 430/8 | €5,000 | €15,122 | +€10,122 | +202% |
| Trade debts | 44 | €7,559 | €2,455 | -€5,104 | -67.5% |
| Suppliers | 440/4 | €7,559 | €2,455 | -€5,104 | -67.5% |
| Taxes, remuneration and social security | 45 | €4,844 | €8,067 | +€3,223 | +66.5% |
| Taxes | 450/3 | €4,844 | €8,067 | +€3,223 | +66.5% |
| Other amounts payable | 47/48 | €652 | €9,444 | +€8,792 | +1,348% |
| Non-recurring operating income | 76A | €5,443 | - | -€5,443 | |
| Goods, raw materials, services and sundry goods | 60/61 | €162,375 | €174,510 | +€12,134 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,504 | €15,626 | +€5,122 | +48.8% |
| Other operating charges | 640/8 | €13,048 | €12,296 | -€752 | -5.8% |
| Gross operating margin | 9900 | €32,355 | €30,050 | -€2,305 | -7.1% |
| Operating profit (loss) | 9901 | €8,804 | €2,129 | -€6,675 | -75.8% |
| Financial income | 75/76B | €1 | €0 | -€0 | -44.2% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -44.2% |
| Financial charges | 65/66B | €2,697 | €2,848 | +€151 | +5.6% |
| Recurring financial charges | 65 | €2,697 | €2,848 | +€151 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €6,108 | -€719 | -€6,827 | |
| Income taxes | 67/77 | €2,953 | €928 | -€2,025 | -68.6% |
| Profit (loss) for the period | 9904 | €3,155 | -€1,647 | -€4,802 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,155 | -€1,647 | -€4,802 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.