LOGISTIC BARGE OPERATORS: 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.
LOGISTIC BARGE OPERATORS
Largest movements
- Receivables after one year +€310,000
new in 2025: €310,000
- Cash +€109,856
up €109,856 (+385%), from €28,570 to €138,426
mainly Depreciation (+€698,125) and Debts after one year (+€693,362)
- Tangible fixed assets +€97,494
up €97,494 (+1.5%), from €6.6m to €6.7m
- Debts after one year +€693,362
up €693,362 (+15.3%), from €4.5m to €5.2m
- Profit (loss) carried forward -€237,740
down €237,740 (-57.2%), from €415,585 to €177,845
- Other debts -€187,382
down €187,382 (-67.7%), from €276,806 to €89,424
- Current portion of long-term debt +€113,228
up €113,228 (+23.2%), from €488,049 to €601,277
- Trade debts +€94,451
up €94,451 (+87.6%), from €107,823 to €202,274
- Financial charges -€153,476
down €153,476 (-40.9%), from €375,464 to €221,988
of which Non-recurring financial charges: -€200,000
- Gross operating margin +€118,872
up €118,872 (+14.5%), from €818,378 to €937,250
- Staff costs +€23,620
up €23,620 (+54.1%), from €43,688 to €67,308
- Depreciation -€11,640
down €11,640 (-1.6%), from €709,765 to €698,125
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 | €7,398,572 | €7,866,429 | +€467,857 | +6.3% |
| Fixed assets | 21/28 | €6,796,874 | €6,887,768 | +€90,894 | +1.3% |
| Tangible fixed assets | 22/27 | €6,567,333 | €6,664,827 | +€97,494 | +1.5% |
| Furniture and vehicles | 24 | €6,567,333 | €6,664,827 | +€97,494 | +1.5% |
| Financial fixed assets | 28 | €229,541 | €222,941 | -€6,600 | -2.9% |
| Current assets | 29/58 | €601,698 | €978,661 | +€376,963 | +62.6% |
| Amounts receivable after more than one year | 29 | - | €310,000 | +€310,000 | |
| Other amounts receivable | 291 | - | €310,000 | +€310,000 | |
| Amounts receivable within one year | 40/41 | €568,582 | €524,961 | -€43,621 | -7.7% |
| Trade receivables | 40 | €301,647 | €265,682 | -€35,965 | -11.9% |
| Other amounts receivable | 41 | €266,935 | €259,279 | -€7,656 | -2.9% |
| Cash at bank and in hand | 54/58 | €28,570 | €138,426 | +€109,856 | +385% |
| Deferred charges and accrued income | 490/1 | €4,546 | €5,274 | +€728 | +16.0% |
| Total equity and liabilities | 10/49 | €7,398,572 | €7,866,429 | +€467,857 | +6.3% |
| Equity | 10/15 | €1,924,569 | €1,686,829 | -€237,740 | -12.4% |
| Contributions | 10/11 | €349,529 | €349,529 | = | 0.0% |
| Capital | 10 | €349,529 | €349,529 | = | 0.0% |
| Issued capital | 100 | €349,529 | €349,529 | = | 0.0% |
| Reserves | 13 | €1,159,455 | €1,159,455 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34,953 | €34,953 | = | 0.0% |
| Legal reserve | 130 | €34,953 | €34,953 | = | 0.0% |
| Tax-exempt reserves | 132 | €909,502 | €909,502 | = | 0.0% |
| Distributable reserves | 133 | €215,000 | €215,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,585 | €177,845 | -€237,740 | -57.2% |
| Amounts payable | 17/49 | €5,474,003 | €6,179,600 | +€705,597 | +12.9% |
| Amounts payable after more than one year | 17 | €4,525,377 | €5,218,739 | +€693,362 | +15.3% |
| Financial debts | 170/4 | €4,525,377 | €5,218,739 | +€693,362 | +15.3% |
| Amounts payable within one year | 42/48 | €873,846 | €895,239 | +€21,393 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €488,049 | €601,277 | +€113,228 | +23.2% |
| Trade debts | 44 | €107,823 | €202,274 | +€94,451 | +87.6% |
| Suppliers | 440/4 | €107,823 | €202,274 | +€94,451 | +87.6% |
| Taxes, remuneration and social security | 45 | €1,168 | €2,264 | +€1,096 | +93.8% |
| Taxes | 450/3 | €1,168 | €573 | -€595 | -50.9% |
| Remuneration and social security | 454/9 | - | €1,691 | +€1,691 | |
| Other amounts payable | 47/48 | €276,806 | €89,424 | -€187,382 | -67.7% |
| Accrued charges and deferred income | 492/3 | €74,780 | €65,622 | -€9,158 | -12.2% |
| Non-recurring operating income | 76A | €539,486 | €481,011 | -€58,475 | -10.8% |
| Remuneration, social security and pensions | 62 | €43,688 | €67,308 | +€23,620 | +54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €709,765 | €698,125 | -€11,640 | -1.6% |
| Other operating charges | 640/8 | €1,768 | €5,492 | +€3,724 | +211% |
| Non-recurring operating charges | 66A | - | €186,176 | +€186,176 | |
| Gross operating margin | 9900 | €818,378 | €937,250 | +€118,872 | +14.5% |
| Operating profit (loss) | 9901 | €63,157 | -€19,851 | -€83,008 | |
| Financial income | 75/76B | €873 | €4,676 | +€3,803 | +436% |
| Recurring financial income | 75 | €873 | €4,676 | +€3,803 | +436% |
| Financial charges | 65/66B | €375,464 | €221,988 | -€153,476 | -40.9% |
| Recurring financial charges | 65 | €175,464 | €221,988 | +€46,524 | +26.5% |
| Non-recurring financial charges | 66B | €200,000 | - | -€200,000 | |
| Profit (loss) for the period before taxes | 9903 | -€311,434 | -€237,163 | +€74,271 | +23.8% |
| Income taxes | 67/77 | €586 | €577 | -€9 | -1.5% |
| Profit (loss) for the period | 9904 | -€312,020 | -€237,740 | +€74,280 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€312,020 | -€237,740 | +€74,280 | +23.8% |
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 17 October 2026 via checked.be.