M&A LOGISTICS GROUP: 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.
M&A LOGISTICS GROUP
Largest movements
- Tangible fixed assets -€18,801
down €18,801 (-35.0%), from €53,709 to €34,908
of which Leasing and similar rights: -€15,045
- Receivables within one year -€7,327
down €7,327 (-9.8%), from €74,640 to €67,313
of which Trade receivables: -€24,646
- Trade debts -€17,283
down €17,283 (-87.5%), from €19,753 to €2,469
- Current portion of long-term debt -€15,975
no longer reported in 2025 (was €15,975)
- Profit (loss) carried forward +€11,057
up €11,057 (+36.8%), from €30,006 to €41,063
- Short-term financial debts -€3,761
down €3,761 (-25.1%), from €14,988 to €11,228
- Gross operating margin +€17,781
up €17,781 (+49.4%), from €36,014 to €53,795
- Taxes +€3,940
up €3,940 (+244%), from €1,618 to €5,558
- Other operating charges +€1,924
up €1,924 (+16.6%), from €11,614 to €13,538
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,550 | €111,221 | -€27,329 | -19.7% |
| Fixed assets | 21/28 | €62,709 | €43,908 | -€18,801 | -30.0% |
| Tangible fixed assets | 22/27 | €53,709 | €34,908 | -€18,801 | -35.0% |
| Plant, machinery and equipment | 23 | €471 | €1,114 | +€643 | +136% |
| Furniture and vehicles | 24 | €17,708 | €13,308 | -€4,400 | -24.8% |
| Leasing and similar rights | 25 | €35,530 | €20,485 | -€15,045 | -42.3% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €75,840 | €67,313 | -€8,527 | -11.2% |
| Amounts receivable within one year | 40/41 | €74,640 | €67,313 | -€7,327 | -9.8% |
| Trade receivables | 40 | €70,518 | €45,872 | -€24,646 | -34.9% |
| Other amounts receivable | 41 | €4,122 | €21,441 | +€17,319 | +420% |
| Deferred charges and accrued income | 490/1 | €1,200 | - | -€1,200 | |
| Total equity and liabilities | 10/49 | €138,550 | €111,221 | -€27,329 | -19.7% |
| Equity | 10/15 | €48,006 | €59,063 | +€11,057 | +23.0% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,006 | €41,063 | +€11,057 | +36.8% |
| Amounts payable | 17/49 | €90,544 | €52,158 | -€38,385 | -42.4% |
| Amounts payable after more than one year | 17 | €9,277 | €9,277 | = | 0.0% |
| Financial debts | 170/4 | €9,277 | €9,277 | = | 0.0% |
| Amounts payable within one year | 42/48 | €81,266 | €42,881 | -€38,385 | -47.2% |
| Current portion of amounts payable after more than one year | 42 | €15,975 | - | -€15,975 | |
| Financial debts | 43 | €14,988 | €11,228 | -€3,761 | -25.1% |
| Credit institutions | 430/8 | €14,988 | €11,228 | -€3,761 | -25.1% |
| Trade debts | 44 | €19,753 | €2,469 | -€17,283 | -87.5% |
| Suppliers | 440/4 | €19,753 | €2,469 | -€17,283 | -87.5% |
| Taxes, remuneration and social security | 45 | €30,550 | €29,184 | -€1,366 | -4.5% |
| Taxes | 450/3 | €29,300 | €28,984 | -€316 | -1.1% |
| Remuneration and social security | 454/9 | €1,250 | €200 | -€1,050 | -84.0% |
| Remuneration, social security and pensions | 62 | €120 | - | -€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,670 | €20,001 | +€332 | +1.7% |
| Other operating charges | 640/8 | €11,614 | €13,538 | +€1,924 | +16.6% |
| Gross operating margin | 9900 | €36,014 | €53,795 | +€17,781 | +49.4% |
| Operating profit (loss) | 9901 | €4,611 | €20,256 | +€15,645 | +339% |
| Financial charges | 65/66B | €3,128 | €3,641 | +€514 | +16.4% |
| Recurring financial charges | 65 | €3,128 | €3,641 | +€514 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €1,483 | €16,615 | +€15,132 | +1,020% |
| Income taxes | 67/77 | €1,618 | €5,558 | +€3,940 | +244% |
| Profit (loss) for the period | 9904 | -€135 | €11,057 | +€11,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€135 | €11,057 | +€11,191 |
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 30 October 2026 via checked.be.