INTERNATIONAL WAREHOUSING: 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.
INTERNATIONAL WAREHOUSING
Largest movements
- Cash +€486,135
up €486,135 (+122%), from €398,066 to €884,201
mainly Current investments (+€485,400) and Net result for the year (+€243,457)
- Current investments -€485,400
down €485,400 (-53.9%), from €900,000 to €414,600
- Receivables within one year +€137,986
up €137,986 (+189%), from €73,071 to €211,057
of which Trade receivables: +€108,551
- Tangible fixed assets -€50,113
down €50,113 (-4.2%), from €1.2m to €1.1m
of which Land and buildings: -€47,610
- Reserves +€122,552
up €122,552 (+9.5%), from €1.3m to €1.4m
of which Distributable reserves: +€61,969
- Gross operating margin -€75,545
down €75,545 (-15.7%), from €480,061 to €404,516
- Financial income -€14,892
down €14,892 (-36.5%), from €40,843 to €25,951
- Taxes -€9,998
down €9,998 (-11.8%), from €84,967 to €74,969
- Financial charges -€6,939
down €6,939 (-36.2%), from €19,184 to €12,245
of which Financial charges: -€7,339
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 | €2,727,750 | €2,807,127 | +€79,377 | +2.9% |
| Fixed assets | 21/28 | €1,337,407 | €1,291,180 | -€46,227 | -3.5% |
| Tangible fixed assets | 22/27 | €1,189,930 | €1,139,817 | -€50,113 | -4.2% |
| Land and buildings | 22 | €1,184,560 | €1,136,950 | -€47,610 | -4.0% |
| Plant, machinery and equipment | 23 | €3,071 | €1,370 | -€1,701 | -55.4% |
| Furniture and vehicles | 24 | €2,299 | €1,497 | -€802 | -34.9% |
| Financial fixed assets | 28 | €147,477 | €151,363 | +€3,886 | +2.6% |
| Current assets | 29/58 | €1,390,343 | €1,515,947 | +€125,604 | +9.0% |
| Amounts receivable after more than one year | 29 | €12,694 | €3,572 | -€9,122 | -71.9% |
| Other amounts receivable | 291 | €12,694 | €3,572 | -€9,122 | -71.9% |
| Amounts receivable within one year | 40/41 | €73,071 | €211,057 | +€137,986 | +189% |
| Trade receivables | 40 | €62,609 | €171,160 | +€108,551 | +173% |
| Other amounts receivable | 41 | €10,463 | €39,898 | +€29,435 | +281% |
| Current investments | 50/53 | €900,000 | €414,600 | -€485,400 | -53.9% |
| Cash at bank and in hand | 54/58 | €398,066 | €884,201 | +€486,135 | +122% |
| Deferred charges and accrued income | 490/1 | €6,512 | €2,516 | -€3,996 | -61.4% |
| Total equity and liabilities | 10/49 | €2,727,750 | €2,807,127 | +€79,377 | +2.9% |
| Equity | 10/15 | €1,721,050 | €1,843,602 | +€122,552 | +7.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €362,205 | €362,205 | = | 0.0% |
| Reserves | 13 | €1,296,845 | €1,419,397 | +€122,552 | +9.5% |
| Tax-exempt reserves | 132 | €180,335 | €240,918 | +€60,583 | +33.6% |
| Distributable reserves | 133 | €1,116,510 | €1,178,479 | +€61,969 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €71,819 | €70,219 | -€1,600 | -2.2% |
| Provisions for liabilities and charges | 160/5 | €63,599 | €63,599 | = | 0.0% |
| Major repairs and maintenance | 162 | €63,599 | €63,599 | = | 0.0% |
| Deferred taxes | 168 | €8,219 | €6,620 | -€1,600 | -19.5% |
| Amounts payable | 17/49 | €934,882 | €893,306 | -€41,575 | -4.4% |
| Amounts payable after more than one year | 17 | €244,227 | €216,423 | -€27,804 | -11.4% |
| Financial debts | 170/4 | €244,227 | €216,423 | -€27,804 | -11.4% |
| Amounts payable within one year | 42/48 | €636,219 | €650,496 | +€14,276 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €27,384 | €27,804 | +€420 | +1.5% |
| Trade debts | 44 | €57,850 | €61,121 | +€3,271 | +5.7% |
| Suppliers | 440/4 | €57,850 | €61,121 | +€3,271 | +5.7% |
| Taxes, remuneration and social security | 45 | €7,515 | €10,759 | +€3,245 | +43.2% |
| Taxes | 450/3 | €7,515 | €10,759 | +€3,245 | +43.2% |
| Other amounts payable | 47/48 | €543,470 | €550,811 | +€7,341 | +1.4% |
| Accrued charges and deferred income | 492/3 | €54,436 | €26,388 | -€28,048 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,103 | €67,318 | -€1,785 | -2.6% |
| Other operating charges | 640/8 | €32,298 | €34,076 | +€1,778 | +5.5% |
| Gross operating margin | 9900 | €480,061 | €404,516 | -€75,545 | -15.7% |
| Operating profit (loss) | 9901 | €378,661 | €303,122 | -€75,539 | -19.9% |
| Financial income | 75/76B | €40,843 | €25,951 | -€14,892 | -36.5% |
| Recurring financial income | 75 | €40,843 | €25,951 | -€14,892 | -36.5% |
| Financial charges | 65/66B | €19,184 | €12,245 | -€6,939 | -36.2% |
| Recurring financial charges | 65 | €19,184 | €11,846 | -€7,339 | -38.3% |
| Non-recurring financial charges | 66B | - | €400 | +€400 | |
| Profit (loss) for the period before taxes | 9903 | €400,319 | €316,827 | -€83,492 | -20.9% |
| Transfer from deferred taxes | 780 | €1,600 | €1,600 | = | 0.0% |
| Income taxes | 67/77 | €84,967 | €74,969 | -€9,998 | -11.8% |
| Profit (loss) for the period | 9904 | €316,951 | €243,457 | -€73,494 | -23.2% |
| Transfer from tax-exempt reserves | 789 | €63,832 | €40,457 | -€23,375 | -36.6% |
| Transfer to tax-exempt reserves | 689 | €117,880 | €101,040 | -€16,840 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €262,903 | €182,874 | -€80,030 | -30.4% |
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 30 October 2026 via checked.be.