LBS 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.
LBS Cargo
Largest movements
- Tangible fixed assets -€31,912
down €31,912 (-32.3%), from €98,914 to €67,002
of which Leasing and similar rights: -€29,400
- Cash -€21,896
down €21,896 (-19.8%), from €110,477 to €88,581
mainly Debts after one year (-€34,321) and Trade debts (-€15,719)
- Receivables within one year +€10,717
up €10,717 (+48.4%), from €22,155 to €32,871
of which Other amounts receivable: +€9,876
- Deferred charges and accrued income -€6,555
down €6,555 (-73.1%), from €8,962 to €2,408
- Debts after one year -€34,321
down €34,321 (-31.8%), from €107,821 to €73,500
- Trade debts -€15,719
no longer reported in 2025 (was €15,719)
- Short-term financial debts +€2,962
up €2,962 (+9.4%), from €31,359 to €34,321
- Tax, wage and social debts -€2,567
down €2,567 (-91.6%), from €2,801 to €234
- Gross operating margin -€45,986
down €45,986 (-52.6%), from €87,444 to €41,458
- Taxes -€8,616
down €8,616 (-94.8%), from €9,088 to €471
- Other operating charges -€6,891
down €6,891 (-94.4%), from €7,302 to €412
- Depreciation -€4,338
down €4,338 (-11.6%), from €37,415 to €33,076
- Financial charges -€3,022
down €3,022 (-31.4%), from €9,611 to €6,589
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 | €240,507 | €190,862 | -€49,645 | -20.6% |
| Fixed assets | 21/28 | €98,914 | €67,002 | -€31,912 | -32.3% |
| Tangible fixed assets | 22/27 | €98,914 | €67,002 | -€31,912 | -32.3% |
| Furniture and vehicles | 24 | €10,908 | €8,577 | -€2,330 | -21.4% |
| Leasing and similar rights | 25 | €86,670 | €57,270 | -€29,400 | -33.9% |
| Other tangible fixed assets | 26 | €1,337 | €1,155 | -€181 | -13.6% |
| Current assets | 29/58 | €141,593 | €123,860 | -€17,733 | -12.5% |
| Amounts receivable within one year | 40/41 | €22,155 | €32,871 | +€10,717 | +48.4% |
| Trade receivables | 40 | €21,581 | €22,422 | +€841 | +3.9% |
| Other amounts receivable | 41 | €574 | €10,450 | +€9,876 | +1,721% |
| Cash at bank and in hand | 54/58 | €110,477 | €88,581 | -€21,896 | -19.8% |
| Deferred charges and accrued income | 490/1 | €8,962 | €2,408 | -€6,555 | -73.1% |
| Total equity and liabilities | 10/49 | €240,507 | €190,862 | -€49,645 | -20.6% |
| Equity | 10/15 | €70,178 | €71,088 | +€910 | +1.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €66,178 | €67,088 | +€910 | +1.4% |
| Distributable reserves | 133 | €66,178 | €67,088 | +€910 | +1.4% |
| Amounts payable | 17/49 | €170,329 | €119,774 | -€50,555 | -29.7% |
| Amounts payable after more than one year | 17 | €107,821 | €73,500 | -€34,321 | -31.8% |
| Financial debts | 170/4 | €107,821 | €73,500 | -€34,321 | -31.8% |
| Amounts payable within one year | 42/48 | €62,508 | €46,274 | -€16,234 | -26.0% |
| Financial debts | 43 | €31,359 | €34,321 | +€2,962 | +9.4% |
| Credit institutions | 430/8 | €31,359 | €34,321 | +€2,962 | +9.4% |
| Trade debts | 44 | €15,719 | - | -€15,719 | |
| Suppliers | 440/4 | €15,719 | - | -€15,719 | |
| Taxes, remuneration and social security | 45 | €2,801 | €234 | -€2,567 | -91.6% |
| Taxes | 450/3 | €2,801 | €234 | -€2,567 | -91.6% |
| Other amounts payable | 47/48 | €12,630 | €11,719 | -€910 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,415 | €33,076 | -€4,338 | -11.6% |
| Other operating charges | 640/8 | €7,302 | €412 | -€6,891 | -94.4% |
| Gross operating margin | 9900 | €87,444 | €41,458 | -€45,986 | -52.6% |
| Operating profit (loss) | 9901 | €42,727 | €7,970 | -€34,757 | -81.3% |
| Financial charges | 65/66B | €9,611 | €6,589 | -€3,022 | -31.4% |
| Recurring financial charges | 65 | €9,611 | €6,589 | -€3,022 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €33,115 | €1,381 | -€31,734 | -95.8% |
| Income taxes | 67/77 | €9,088 | €471 | -€8,616 | -94.8% |
| Profit (loss) for the period | 9904 | €24,028 | €910 | -€23,118 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,028 | €910 | -€23,118 | -96.2% |
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 18 October 2026 via checked.be.