JUST Logistics Management: 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.
JUST Logistics Management
Largest movements
- Cash +€39,401
up €39,401 (+245%), from €16,063 to €55,465
mainly Depreciation (+€31,912) and Receivables within one year (+€17,639)
- Tangible fixed assets -€27,514
down €27,514 (-18.2%), from €151,551 to €124,038
of which Furniture and vehicles: -€27,514
- Receivables within one year -€17,639
down €17,639 (-20.7%), from €85,406 to €67,767
of which Other amounts receivable: -€9,672
- Debts after one year -€14,403
down €14,403 (-23.6%), from €61,149 to €46,746
- Trade debts +€5,065
up €5,065 (+62.5%), from €8,100 to €13,165
- Tax, wage and social debts +€3,284
up €3,284 (+20.5%), from €16,056 to €19,340
of which Taxes: +€1,995
- Staff costs +€100,782
new in 2025: €100,782
- Gross operating margin +€85,084
up €85,084 (+147%), from €57,778 to €142,862
- Depreciation +€27,732
up €27,732 (+663%), from €4,181 to €31,912
- Taxes -€10,592
down €10,592 (-65.0%), from €16,305 to €5,713
- Financial charges +€2,731
up €2,731 (+345%), from €792 to €3,522
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 | €257,153 | €251,219 | -€5,934 | -2.3% |
| Fixed assets | 21/28 | €153,141 | €125,628 | -€27,514 | -18.0% |
| Tangible fixed assets | 22/27 | €151,551 | €124,038 | -€27,514 | -18.2% |
| Land and buildings | 22 | €1,200 | €1,200 | = | 0.0% |
| Furniture and vehicles | 24 | €150,351 | €122,838 | -€27,514 | -18.3% |
| Financial fixed assets | 28 | €1,590 | €1,590 | = | 0.0% |
| Current assets | 29/58 | €104,012 | €125,592 | +€21,580 | +20.7% |
| Amounts receivable within one year | 40/41 | €85,406 | €67,767 | -€17,639 | -20.7% |
| Trade receivables | 40 | €61,309 | €53,342 | -€7,968 | -13.0% |
| Other amounts receivable | 41 | €24,097 | €14,425 | -€9,672 | -40.1% |
| Cash at bank and in hand | 54/58 | €16,063 | €55,465 | +€39,401 | +245% |
| Deferred charges and accrued income | 490/1 | €2,543 | €2,361 | -€182 | -7.2% |
| Total equity and liabilities | 10/49 | €257,153 | €251,219 | -€5,934 | -2.3% |
| Equity | 10/15 | €156,463 | €156,598 | +€135 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137,863 | €137,998 | +€135 | +0.1% |
| Non-distributable reserves | 130/1 | €88,037 | €1,860 | -€86,177 | -97.9% |
| Reserves not available under the articles | 1311 | €88,037 | €1,860 | -€86,177 | -97.9% |
| Distributable reserves | 133 | €49,826 | €136,138 | +€86,312 | +173% |
| Amounts payable | 17/49 | €100,690 | €94,621 | -€6,069 | -6.0% |
| Amounts payable after more than one year | 17 | €61,149 | €46,746 | -€14,403 | -23.6% |
| Financial debts | 170/4 | €61,149 | €46,746 | -€14,403 | -23.6% |
| Amounts payable within one year | 42/48 | €38,007 | €46,908 | +€8,901 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €13,851 | €14,403 | +€552 | +4.0% |
| Trade debts | 44 | €8,100 | €13,165 | +€5,065 | +62.5% |
| Suppliers | 440/4 | €8,100 | €13,165 | +€5,065 | +62.5% |
| Taxes, remuneration and social security | 45 | €16,056 | €19,340 | +€3,284 | +20.5% |
| Taxes | 450/3 | €7,305 | €9,301 | +€1,995 | +27.3% |
| Remuneration and social security | 454/9 | €8,751 | €10,039 | +€1,289 | +14.7% |
| Accrued charges and deferred income | 492/3 | €1,534 | €968 | -€566 | -36.9% |
| Non-recurring operating income | 76A | €2,987 | - | -€2,987 | |
| Remuneration, social security and pensions | 62 | - | €100,782 | +€100,782 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,181 | €31,912 | +€27,732 | +663% |
| Other operating charges | 640/8 | €1,669 | €1,511 | -€159 | -9.5% |
| Gross operating margin | 9900 | €57,778 | €142,862 | +€85,084 | +147% |
| Operating profit (loss) | 9901 | €51,928 | €8,657 | -€43,271 | -83.3% |
| Financial income | 75/76B | €694 | €713 | +€19 | +2.7% |
| Recurring financial income | 75 | €694 | €713 | +€19 | +2.7% |
| Financial charges | 65/66B | €792 | €3,522 | +€2,731 | +345% |
| Recurring financial charges | 65 | €792 | €3,522 | +€2,731 | +345% |
| Profit (loss) for the period before taxes | 9903 | €51,831 | €5,848 | -€45,983 | -88.7% |
| Income taxes | 67/77 | €16,305 | €5,713 | -€10,592 | -65.0% |
| Profit (loss) for the period | 9904 | €35,525 | €135 | -€35,390 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,525 | €135 | -€35,390 | -99.6% |
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 24 October 2026 via checked.be.