KEY LOGISTICS: 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.
KEY LOGISTICS
Largest movements
- Tangible fixed assets +€8,814
up €8,814 (+744%), from €1,185 to €9,999
- Receivables within one year -€8,453
down €8,453 (-11.4%), from €74,094 to €65,642
of which Trade receivables: -€6,346
- Trade debts +€12,701
up €12,701 (+84.4%), from €15,045 to €27,745
- Other debts -€8,995
down €8,995 (-8.0%), from €112,685 to €103,689
- Current portion of long-term debt -€4,693
down €4,693 (-45.1%), from €10,414 to €5,721
- Profit (loss) carried forward +€1,454
up €1,454 (+1.8%), from -€81,532 to -€80,078
- Debts after one year -€973
no longer reported in 2025 (was €973)
- Gross operating margin -€55,829
down €55,829 (-84.8%), from €65,866 to €10,037
- Staff costs -€31,700
no longer reported in 2025 (was €31,700)
- Other operating charges +€1,085
up €1,085 (+82.7%), from €1,312 to €2,397
- Financial charges +€990
up €990 (+51.8%), from €1,910 to €2,899
- Taxes -€900
down €900 (-30.0%), from €3,000 to €2,100
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 | €75,614 | €75,984 | +€370 | +0.5% |
| Fixed assets | 21/28 | €1,380 | €10,194 | +€8,814 | +639% |
| Tangible fixed assets | 22/27 | €1,185 | €9,999 | +€8,814 | +744% |
| Furniture and vehicles | 24 | €1,185 | €9,999 | +€8,814 | +744% |
| Financial fixed assets | 28 | €195 | €195 | = | 0.0% |
| Current assets | 29/58 | €74,234 | €65,790 | -€8,444 | -11.4% |
| Amounts receivable within one year | 40/41 | €74,094 | €65,642 | -€8,453 | -11.4% |
| Trade receivables | 40 | €71,988 | €65,642 | -€6,346 | -8.8% |
| Other amounts receivable | 41 | €2,106 | - | -€2,106 | |
| Cash at bank and in hand | 54/58 | €139 | €148 | +€9 | +6.4% |
| Total equity and liabilities | 10/49 | €75,614 | €75,984 | +€370 | +0.5% |
| Equity | 10/15 | -€67,272 | -€65,818 | +€1,454 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,532 | -€80,078 | +€1,454 | +1.8% |
| Amounts payable | 17/49 | €142,886 | €141,801 | -€1,085 | -0.8% |
| Amounts payable after more than one year | 17 | €973 | - | -€973 | |
| Financial debts | 170/4 | €973 | - | -€973 | |
| Amounts payable within one year | 42/48 | €141,913 | €141,801 | -€111 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €10,414 | €5,721 | -€4,693 | -45.1% |
| Trade debts | 44 | €15,045 | €27,745 | +€12,701 | +84.4% |
| Suppliers | 440/4 | €15,045 | €27,745 | +€12,701 | +84.4% |
| Taxes, remuneration and social security | 45 | €3,769 | €4,646 | +€876 | +23.2% |
| Taxes | 450/3 | €3,769 | €4,646 | +€876 | +23.2% |
| Other amounts payable | 47/48 | €112,685 | €103,689 | -€8,995 | -8.0% |
| Remuneration, social security and pensions | 62 | €31,700 | - | -€31,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €853 | €1,186 | +€333 | +39.1% |
| Other operating charges | 640/8 | €1,312 | €2,397 | +€1,085 | +82.7% |
| Gross operating margin | 9900 | €65,866 | €10,037 | -€55,829 | -84.8% |
| Operating profit (loss) | 9901 | €32,000 | €6,454 | -€25,547 | -79.8% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €1,910 | €2,899 | +€990 | +51.8% |
| Recurring financial charges | 65 | €1,910 | €2,899 | +€990 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €30,102 | €3,554 | -€26,548 | -88.2% |
| Income taxes | 67/77 | €3,000 | €2,100 | -€900 | -30.0% |
| Profit (loss) for the period | 9904 | €27,102 | €1,454 | -€25,648 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,102 | €1,454 | -€25,648 | -94.6% |
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 23 October 2026 via checked.be.