LIEGE LOGISTICS INTERMODAL: 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.
What changed
LIEGE LOGISTICS INTERMODAL
NACE 52.249, Warehousing and support activities for transportation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€44,407
2024 · €308,657-€264,251
Equity
€702,351
2024 · €1.0m-€299,282
Cash
€563,809
2024 · €295,646+€268,164
Balance sheet total
€1.7m
2024 · €1.3m+€392,020
Largest movements
Assets
- Tangible fixed assets +€342,186
up €342,186 (+90.4%), from €378,712 to €720,897
of which Leasing and similar rights: +€381,575
- Cash +€268,164
up €268,164 (+90.7%), from €295,646 to €563,809
mainly Debts after one year (+€303,427) and Other debts (+€272,000)
- Receivables within one year -€210,656
down €210,656 (-38.7%), from €544,408 to €333,752
of which Other amounts receivable: -€154,443
Equity and liabilities
- Debts after one year +€303,427
up €303,427 (+431.3%), from €70,344 to €373,771
- Other debts +€272,000
up €272,000 (+971.4%), from €28,000 to €300,000
- Profit (loss) carried forward -€225,023
no longer reported in 2025 (was €225,023)
- Current portion of long-term debt +€106,267
up €106,267 (+124.4%), from €85,426 to €191,693
- Investment grants -€43,688
down €43,688 (-45.5%), from €96,104 to €52,416
Income statement
- Turnover -€305,923
down €305,923 (-16.9%), from €1.8m to €1.5m
- Goods and materials -€157,265
down €157,265 (-78.8%), from €199,617 to €42,352
- Depreciation +€84,586
up €84,586 (+55.2%), from €153,296 to €237,882
- Taxes +€44,608
up €44,608 (+159.3%), from €28,000 to €72,608
- Services and other goods +€44,033
up €44,033 (+7.1%), from €618,157 to €662,190
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.
Result 2024
€308,657
Turnover
-€305,923
Other operating income
-€3,637
Goods and materials
+€157,265
Services and other goods
-€44,033
Staff costs
+€1,813
Depreciation
-€84,586
Other operating charges
-€25,436
Other operating items
+€88,405
Financial income
+€8,639
Financial charges
-€12,149
Taxes
-€44,608
Result 2025
€44,407
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.
From operations
+€782,137
Investment
-€579,979
Financing
+€66,005
Cash 2024
€295,646
From operations (derived)
+€782,137
Net result for the year
+€44,407
Depreciation
+€237,882
Receivables within one year
+€210,656
Deferred charges and accrued income
+€7,585
Trade debts
-€22,835
Tax, wage and social debts
+€35,459
Other debts
+€272,000
Accrued charges and deferred income
-€3,016
Investment (derived)
-€579,979
Investment in fixed assets (net)
-€579,979
Financing
+€66,005
Debts after one year
+€303,427
Current portion of long-term debt
+€106,267
Contributions, distributions and other
-€343,688
Cash 2025
€563,809
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,332,563 | €1,724,583 | +€392,020 | +29.4% |
| Fixed assets | 21/28 | €435,715 | €777,812 | +€342,097 | +78.5% |
| Intangible fixed assets | 21 | €4,009 | €3,920 | -€88 | -2.2% |
| Tangible fixed assets | 22/27 | €378,712 | €720,897 | +€342,186 | +90.4% |
| Land and buildings | 22 | €12,296 | €51,220 | +€38,923 | +316.5% |
| Plant, machinery and equipment | 23 | €92,188 | €15,319 | -€76,869 | -83.4% |
| Furniture and vehicles | 24 | €13,896 | €6,654 | -€7,242 | -52.1% |
| Leasing and similar rights | 25 | €188,027 | €569,603 | +€381,575 | +202.9% |
| Other tangible fixed assets | 26 | €72,303 | €78,102 | +€5,798 | +8.0% |
| Financial fixed assets | 28 | €52,995 | €52,995 | = | 0.0% |
| Other financial fixed assets | 284/8 | €52,995 | €52,995 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €52,995 | €52,995 | = | 0.0% |
| Current assets | 29/58 | €896,848 | €946,770 | +€49,923 | +5.6% |
| Amounts receivable within one year | 40/41 | €544,408 | €333,752 | -€210,656 | -38.7% |
| Trade receivables | 40 | €335,973 | €279,760 | -€56,213 | -16.7% |
| Other amounts receivable | 41 | €208,436 | €53,993 | -€154,443 | -74.1% |
| Cash at bank and in hand | 54/58 | €295,646 | €563,809 | +€268,164 | +90.7% |
| Deferred charges and accrued income | 490/1 | €56,794 | €49,209 | -€7,585 | -13.4% |
| Total equity and liabilities | 10/49 | €1,332,563 | €1,724,583 | +€392,020 | +29.4% |
| Equity | 10/15 | €1,001,633 | €702,351 | -€299,282 | -29.9% |
| Contributions | 10/11 | €460,000 | €460,000 | = | 0.0% |
| Capital | 10 | €460,000 | €460,000 | = | 0.0% |
| Issued capital | 100 | €460,000 | €460,000 | = | 0.0% |
| Reserves | 13 | €220,506 | €189,935 | -€30,570 | -13.9% |
| Non-distributable reserves | 130/1 | €46,000 | €46,000 | = | 0.0% |
| Legal reserve | 130 | €46,000 | €46,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,880 | €117,880 | = | 0.0% |
| Distributable reserves | 133 | €56,626 | €26,055 | -€30,570 | -54.0% |
| Profit (loss) carried forward | 14 | €225,023 | - | -€225,023 | |
| Investment grants | 15 | €96,104 | €52,416 | -€43,688 | -45.5% |
| Amounts payable | 17/49 | €330,930 | €1,022,232 | +€691,302 | +208.9% |
| Amounts payable after more than one year | 17 | €70,344 | €373,771 | +€303,427 | +431.3% |
| Financial debts | 170/4 | €70,344 | €373,771 | +€303,427 | +431.3% |
| Leasing and similar obligations | 172 | €70,344 | €373,771 | +€303,427 | +431.3% |
| Amounts payable within one year | 42/48 | €257,570 | €648,461 | +€390,891 | +151.8% |
| Current portion of amounts payable after more than one year | 42 | €85,426 | €191,693 | +€106,267 | +124.4% |
| Trade debts | 44 | €64,484 | €41,649 | -€22,835 | -35.4% |
| Suppliers | 440/4 | €64,484 | €41,649 | -€22,835 | -35.4% |
| Taxes, remuneration and social security | 45 | €79,661 | €115,119 | +€35,459 | +44.5% |
| Taxes | 450/3 | €7,337 | €36,249 | +€28,911 | +394.0% |
| Remuneration and social security | 454/9 | €72,324 | €78,871 | +€6,547 | +9.1% |
| Other amounts payable | 47/48 | €28,000 | €300,000 | +€272,000 | +971.4% |
| Accrued charges and deferred income | 492/3 | €3,016 | - | -€3,016 | |
| Operating income | 70/76A | €1,841,997 | €1,630,288 | -€211,709 | -11.5% |
| Turnover | 70 | €1,813,801 | €1,507,878 | -€305,923 | -16.9% |
| Other operating income | 74 | €26,996 | €23,359 | -€3,637 | -13.5% |
| Non-recurring operating income | 76A | €1,200 | €99,052 | +€97,852 | +8154.2% |
| Operating charges | 60/66A | €1,537,855 | €1,542,279 | +€4,424 | +0.3% |
| Goods for resale, raw materials and consumables | 60 | €199,617 | €42,352 | -€157,265 | -78.8% |
| Purchases | 600/8 | €199,617 | €42,352 | -€157,265 | -78.8% |
| Services and other goods | 61 | €618,157 | €662,190 | +€44,033 | +7.1% |
| Remuneration, social security and pensions | 62 | €549,724 | €547,911 | -€1,813 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,296 | €237,882 | +€84,586 | +55.2% |
| Other operating charges | 640/8 | €17,009 | €42,445 | +€25,436 | +149.5% |
| Non-recurring operating charges | 66A | €52 | €9,499 | +€9,447 | +18160.1% |
| Operating profit (loss) | 9901 | €304,142 | €88,010 | -€216,132 | -71.1% |
| Financial income | 75/76B | €35,600 | €44,239 | +€8,639 | +24.3% |
| Recurring financial income | 75 | €35,600 | €44,239 | +€8,639 | +24.3% |
| Income from current assets | 751 | - | €551 | +€551 | |
| Other financial income | 752/9 | €35,600 | €43,688 | +€8,088 | +22.7% |
| Financial charges | 65/66B | €3,084 | €15,234 | +€12,149 | +393.9% |
| Recurring financial charges | 65 | €3,084 | €15,234 | +€12,149 | +393.9% |
| Debt charges | 650 | €1,105 | €12,759 | +€11,654 | +1054.8% |
| Other financial charges | 652/9 | €1,979 | €2,474 | +€495 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €336,657 | €117,015 | -€219,642 | -65.2% |
| Income taxes | 67/77 | €28,000 | €72,608 | +€44,608 | +159.3% |
| Taxes | 670/3 | €28,000 | €72,608 | +€44,608 | +159.3% |
| Profit (loss) for the period | 9904 | €308,657 | €44,407 | -€264,251 | -85.6% |
| Transfer to tax-exempt reserves | 689 | €117,880 | - | -€117,880 | |
| Profit (loss) for the period to be appropriated | 9905 | €190,777 | €44,407 | -€146,371 | -76.7% |
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 5 October 2026 via checked.be.