LOGVAD BELGIUM: what changed
LOGVAD BELGIUM
Largest movements
- Receivables within one year -€743,307
down €743,307 (-52.1%), from €1.4m to €684,460
of which Trade receivables: -€655,178
- Cash -€58,879
down €58,879 (-14.4%), from €409,100 to €350,221
mainly Trade debts (-€515,885) and Net result for the year (-€240,279)
- Tangible fixed assets -€41,852
down €41,852 (-18.4%), from €227,396 to €185,544
of which Plant, machinery and equipment: -€38,922
- Trade debts -€515,885
down €515,885 (-39.8%), from €1.3m to €779,916
- Reserves -€240,279
down €240,279 (-35.8%), from €670,818 to €430,540
- Tax, wage and social debts -€107,650
down €107,650 (-38.1%), from €282,553 to €174,903
of which Remuneration and social security: -€107,650
- Gross operating margin -€598,373
down €598,373 (-32.2%), from €1.9m to €1.3m
- Staff costs -€561,905
down €561,905 (-28.4%), from €2.0m to €1.4m
- Other operating charges -€25,762
down €25,762 (-69.6%), from €37,011 to €11,249
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,267,772 | €1,404,502 | -€863,271 | -38.1% |
| Fixed assets | 21/28 | €267,013 | €213,261 | -€53,752 | -20.1% |
| Tangible fixed assets | 22/27 | €227,396 | €185,544 | -€41,852 | -18.4% |
| Plant, machinery and equipment | 23 | €222,905 | €183,983 | -€38,922 | -17.5% |
| Furniture and vehicles | 24 | €1,624 | €681 | -€943 | -58.1% |
| Other tangible fixed assets | 26 | €2,866 | €879 | -€1,987 | -69.3% |
| Financial fixed assets | 28 | €39,617 | €27,717 | -€11,900 | -30.0% |
| Current assets | 29/58 | €2,000,760 | €1,191,241 | -€809,518 | -40.5% |
| Stocks and contracts in progress | 3 | €88,531 | €84,317 | -€4,215 | -4.8% |
| Stocks | 30/36 | €88,531 | €84,317 | -€4,215 | -4.8% |
| Amounts receivable within one year | 40/41 | €1,427,767 | €684,460 | -€743,307 | -52.1% |
| Trade receivables | 40 | €1,305,047 | €649,869 | -€655,178 | -50.2% |
| Other amounts receivable | 41 | €122,721 | €34,591 | -€88,129 | -71.8% |
| Cash at bank and in hand | 54/58 | €409,100 | €350,221 | -€58,879 | -14.4% |
| Deferred charges and accrued income | 490/1 | €75,361 | €72,243 | -€3,118 | -4.1% |
| Total equity and liabilities | 10/49 | €2,267,772 | €1,404,502 | -€863,271 | -38.1% |
| Equity | 10/15 | €689,418 | €449,140 | -€240,279 | -34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €670,818 | €430,540 | -€240,279 | -35.8% |
| Distributable reserves | 133 | €670,818 | €430,540 | -€240,279 | -35.8% |
| Amounts payable | 17/49 | €1,578,354 | €955,362 | -€622,992 | -39.5% |
| Amounts payable within one year | 42/48 | €1,578,354 | €955,362 | -€622,992 | -39.5% |
| Trade debts | 44 | €1,295,801 | €779,916 | -€515,885 | -39.8% |
| Suppliers | 440/4 | €1,295,801 | €779,916 | -€515,885 | -39.8% |
| Taxes, remuneration and social security | 45 | €282,553 | €174,903 | -€107,650 | -38.1% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €282,553 | €174,903 | -€107,650 | -38.1% |
| Other amounts payable | 47/48 | - | €543 | +€543 | |
| Remuneration, social security and pensions | 62 | €1,980,832 | €1,418,927 | -€561,905 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,759 | €57,268 | +€509 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €37,011 | €11,249 | -€25,762 | -69.6% |
| Non-recurring operating charges | 66A | - | €8,000 | +€8,000 | |
| Gross operating margin | 9900 | €1,855,427 | €1,257,054 | -€598,373 | -32.2% |
| Operating profit (loss) | 9901 | -€219,175 | -€238,390 | -€19,215 | -8.8% |
| Financial income | 75/76B | €3,685 | €61 | -€3,624 | -98.4% |
| Recurring financial income | 75 | €3,685 | €61 | -€3,624 | -98.4% |
| Financial charges | 65/66B | €2,285 | €1,950 | -€336 | -14.7% |
| Recurring financial charges | 65 | €2,285 | €1,950 | -€336 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | -€217,776 | -€240,279 | -€22,503 | -10.3% |
| Income taxes | 67/77 | €14,208 | €0 | -€14,208 | -100% |
| Profit (loss) for the period | 9904 | -€231,985 | -€240,279 | -€8,294 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€231,985 | -€240,279 | -€8,294 | -3.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.