Logistic Services 51: 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 Services 51
Largest movements
- Receivables within one year +€5,736
up €5,736 (+42.3%), from €13,560 to €19,296
of which Trade receivables: +€5,986
- Tangible fixed assets -€5,110
down €5,110 (-21.5%), from €23,754 to €18,644
of which Furniture and vehicles: -€4,579
- Cash +€4,311
up €4,311 (+76.1%), from €5,664 to €9,975
mainly Net result for the year (+€18,397) and Depreciation (+€5,110)
- Reserves +€18,397
up €18,397 (+99.0%), from €18,590 to €36,986
- Other debts -€12,577
down €12,577 (-69.2%), from €18,181 to €5,604
- Short-term financial debts -€1,426
down €1,426 (-62.7%), from €2,275 to €849
- Gross operating margin +€18,045
up €18,045 (+63.9%), from €28,218 to €46,263
- Write-downs +€12,000
new in 2025: €12,000
- Taxes +€2,518
up €2,518 (+53.0%), from €4,750 to €7,267
- Depreciation +€1,877
up €1,877 (+58.1%), from €3,233 to €5,110
- Financial charges +€728
up €728 (+33.2%), from €2,189 to €2,916
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,016 | €48,231 | +€5,215 | +12.1% |
| Fixed assets | 21/28 | €23,754 | €18,644 | -€5,110 | -21.5% |
| Tangible fixed assets | 22/27 | €23,754 | €18,644 | -€5,110 | -21.5% |
| Plant, machinery and equipment | 23 | €867 | €636 | -€231 | -26.7% |
| Furniture and vehicles | 24 | €19,990 | €15,410 | -€4,579 | -22.9% |
| Other tangible fixed assets | 26 | €2,897 | €2,598 | -€299 | -10.3% |
| Current assets | 29/58 | €19,262 | €29,587 | +€10,325 | +53.6% |
| Amounts receivable within one year | 40/41 | €13,560 | €19,296 | +€5,736 | +42.3% |
| Trade receivables | 40 | €13,310 | €19,296 | +€5,986 | +45.0% |
| Other amounts receivable | 41 | €250 | €0 | -€250 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,664 | €9,975 | +€4,311 | +76.1% |
| Deferred charges and accrued income | 490/1 | €38 | €315 | +€278 | +738.2% |
| Total equity and liabilities | 10/49 | €43,016 | €48,231 | +€5,215 | +12.1% |
| Equity | 10/15 | €19,090 | €37,486 | +€18,397 | +96.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €18,590 | €36,986 | +€18,397 | +99.0% |
| Distributable reserves | 133 | €18,590 | €36,986 | +€18,397 | +99.0% |
| Amounts payable | 17/49 | €23,926 | €10,745 | -€13,182 | -55.1% |
| Amounts payable within one year | 42/48 | €23,926 | €10,745 | -€13,182 | -55.1% |
| Financial debts | 43 | €2,275 | €849 | -€1,426 | -62.7% |
| Credit institutions | 430/8 | €2,275 | €849 | -€1,426 | -62.7% |
| Trade debts | 44 | €1,071 | €1,441 | +€370 | +34.5% |
| Suppliers | 440/4 | €1,071 | €1,441 | +€370 | +34.5% |
| Taxes, remuneration and social security | 45 | €2,399 | €2,851 | +€451 | +18.8% |
| Taxes | 450/3 | €2,399 | €2,851 | +€451 | +18.8% |
| Other amounts payable | 47/48 | €18,181 | €5,604 | -€12,577 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,233 | €5,110 | +€1,877 | +58.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,000 | +€12,000 | |
| Other operating charges | 640/8 | €632 | €573 | -€59 | -9.3% |
| Gross operating margin | 9900 | €28,218 | €46,263 | +€18,045 | +63.9% |
| Operating profit (loss) | 9901 | €24,354 | €28,581 | +€4,227 | +17.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €2,189 | €2,916 | +€728 | +33.2% |
| Recurring financial charges | 65 | €2,189 | €2,916 | +€728 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €22,166 | €25,664 | +€3,498 | +15.8% |
| Income taxes | 67/77 | €4,750 | €7,267 | +€2,518 | +53.0% |
| Profit (loss) for the period | 9904 | €17,416 | €18,397 | +€980 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,416 | €18,397 | +€980 | +5.6% |
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 11 October 2026 via checked.be.