International Freight Solution: 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.
International Freight Solution
Largest movements
- Tangible fixed assets +€21,893
up €21,893 (+75.2%), from €29,110 to €51,003
of which Leasing and similar rights: +€12,965
- Receivables within one year -€6,131
down €6,131 (-20.4%), from €30,069 to €23,938
of which Other amounts receivable: -€4,400
- Deferred charges and accrued income -€1,362
down €1,362 (-26.5%), from €5,147 to €3,785
- Cash -€1,100
down €1,100 (-6.9%), from €15,852 to €14,752
mainly Investment in fixed assets (net) (-€31,039) and Other debts (-€13,562)
- Other debts -€13,562
down €13,562 (-29.1%), from €46,624 to €33,062
- Trade debts +€11,350
up €11,350 (+127.3%), from €8,917 to €20,267
of which Suppliers: +€11,457
- Debts after one year +€11,331
up €11,331 (+52.5%), from €21,572 to €32,903
- Profit (loss) carried forward +€7,168
up €7,168 (+82.4%), from €8,696 to €15,864
- Current portion of long-term debt -€4,928
no longer reported in 2025 (was €4,928)
- Turnover -€329,291
no longer reported in 2025 (was €329,291)
- Purchases and services -€316,150
no longer reported in 2025 (was €316,150)
- Gross operating margin +€10,971
up €10,971 (+83.5%), from €13,141 to €24,112
- Depreciation +€7,023
up €7,023 (+396.1%), from €1,773 to €8,796
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 | €94,478 | €108,128 | +€13,650 | +14.4% |
| Fixed assets | 21/28 | €43,410 | €65,653 | +€22,243 | +51.2% |
| Tangible fixed assets | 22/27 | €29,110 | €51,003 | +€21,893 | +75.2% |
| Furniture and vehicles | 24 | €29,110 | €38,038 | +€8,928 | +30.7% |
| Leasing and similar rights | 25 | - | €12,965 | +€12,965 | |
| Financial fixed assets | 28 | €14,300 | €14,650 | +€350 | +2.4% |
| Current assets | 29/58 | €51,068 | €42,475 | -€8,593 | -16.8% |
| Amounts receivable within one year | 40/41 | €30,069 | €23,938 | -€6,131 | -20.4% |
| Trade receivables | 40 | €17,168 | €15,436 | -€1,732 | -10.1% |
| Other amounts receivable | 41 | €12,901 | €8,502 | -€4,400 | -34.1% |
| Cash at bank and in hand | 54/58 | €15,852 | €14,752 | -€1,100 | -6.9% |
| Deferred charges and accrued income | 490/1 | €5,147 | €3,785 | -€1,362 | -26.5% |
| Total equity and liabilities | 10/49 | €94,478 | €108,128 | +€13,650 | +14.4% |
| Equity | 10/15 | €9,696 | €16,864 | +€7,168 | +73.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,696 | €15,864 | +€7,168 | +82.4% |
| Amounts payable | 17/49 | €84,782 | €91,263 | +€6,481 | +7.6% |
| Amounts payable after more than one year | 17 | €21,572 | €32,903 | +€11,331 | +52.5% |
| Financial debts | 170/4 | €21,572 | €32,903 | +€11,331 | +52.5% |
| Amounts payable within one year | 42/48 | €63,210 | €58,360 | -€4,850 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €4,928 | - | -€4,928 | |
| Trade debts | 44 | €8,917 | €20,267 | +€11,350 | +127.3% |
| Suppliers | 440/4 | €8,810 | €20,267 | +€11,457 | +130.0% |
| Bills of exchange payable | 441 | €107 | - | -€107 | |
| Taxes, remuneration and social security | 45 | €2,741 | €5,031 | +€2,290 | +83.5% |
| Taxes | 450/3 | €2,741 | €5,031 | +€2,290 | +83.5% |
| Other amounts payable | 47/48 | €46,624 | €33,062 | -€13,562 | -29.1% |
| Turnover | 70 | €329,291 | - | -€329,291 | |
| Goods, raw materials, services and sundry goods | 60/61 | €316,150 | - | -€316,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,773 | €8,796 | +€7,023 | +396.1% |
| Other operating charges | 640/8 | €2,458 | €1,948 | -€510 | -20.7% |
| Non-recurring operating charges | 66A | - | €2,740 | +€2,740 | |
| Gross operating margin | 9900 | €13,141 | €24,112 | +€10,971 | +83.5% |
| Operating profit (loss) | 9901 | €8,910 | €10,628 | +€1,718 | +19.3% |
| Financial charges | 65/66B | €396 | €1,170 | +€774 | +195.5% |
| Recurring financial charges | 65 | €396 | €1,170 | +€774 | +195.5% |
| Profit (loss) for the period before taxes | 9903 | €8,514 | €9,458 | +€944 | +11.1% |
| Income taxes | 67/77 | €2,741 | €2,290 | -€451 | -16.5% |
| Profit (loss) for the period | 9904 | €5,773 | €7,168 | +€1,395 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,773 | €7,168 | +€1,395 | +24.2% |
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 7 October 2026 via checked.be.