MOVE 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
MOVE INTERMODAL
NACE 49.200, Land transport and transport via pipelines
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.1m
2024 · -€5,573-€2.1m
Equity
€8.7m
2024 · €5.1m+€3.5m
Cash
€5.5m
2024 · €5.9m-€454,623
Balance sheet total
€43.0m
2024 · €41.3m+€1.7m
Largest movements
Assets
- Tangible fixed assets +€4.3m
up €4.3m (+83.8%), from €5.1m to €9.4m
of which Furniture and vehicles: +€5.5m
- Receivables within one year -€1.3m
down €1.3m (-9.7%), from €13.3m to €12.0m
of which Trade receivables: -€1.7m
- Financial fixed assets -€776,454
down €776,454 (-5.8%), from €13.4m to €12.7m
of which Companies linked by participating interests: -€805,614
- Cash -€454,623
down €454,623 (-7.7%), from €5.9m to €5.5m
mainly Investment in fixed assets (net) (-€5.0m) and Net result for the year (-€2.1m)
Equity and liabilities
- Revaluation surpluses +€5.7m
new in 2025: €5.7m
- Reserves -€2.1m
down €2.1m (-71.0%), from €3.0m to €867,549
of which Distributable reserves: -€2.1m
- Debts after one year -€2.1m
down €2.1m (-21.5%), from €9.8m to €7.7m
- Trade debts +€891,260
up €891,260 (+4.0%), from €22.2m to €23.1m
- Other debts -€820,000
no longer reported in 2025 (was €820,000)
Income statement
- Financial income -€1.3m
down €1.3m (-65.6%), from €1.9m to €657,250
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
-€5,573
Turnover
+€986,244
Other operating income
+€935,480
Goods and materials
-€1.1m
Services and other goods
-€232,961
Staff costs
-€138,864
Depreciation
+€272,652
Write-downs
-€848,691
Provisions
+€1,186
Other operating charges
-€1,145
Other operating items
+€160,055
Financial income
-€1.3m
Financial charges
-€935,939
Taxes
-€41
Deferred taxes and other
-€3,296
Result 2025
-€2.1m
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
+€880,024
Investment
-€5.0m
Financing
+€3.6m
Cash 2024
€5.9m
From operations (derived)
+€880,024
Net result for the year
-€2.1m
Depreciation
+€1.5m
Receivables after one year
-€100,000
Stocks and contracts
+€107,148
Receivables within one year
+€1.3m
Deferred charges and accrued income
+€35,523
Provisions
-€249
Trade debts
+€891,260
Tax, wage and social debts
+€85,111
Other debts
-€820,000
Accrued charges and deferred income
+€52,374
Investment (derived)
-€5.0m
Investment in fixed assets (net)
-€5.0m
Financing
+€3.6m
Debts after one year
-€2.1m
Current portion of long-term debt
+€346,507
Short-term financial debts
-€262,217
Contributions, distributions and other
+€5.7m
Cash 2025
€5.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,268,818 | €42,993,941 | +€1.7m | +4.2% |
| Fixed assets | 21/28 | €18,889,242 | €22,404,298 | +€3.5m | +18.6% |
| Intangible fixed assets | 21 | €336,850 | €334,834 | -€2,016 | -0.6% |
| Tangible fixed assets | 22/27 | €5,121,948 | €9,415,473 | +€4.3m | +83.8% |
| Plant, machinery and equipment | 23 | €13,510 | €9,015 | -€4,495 | -33.3% |
| Furniture and vehicles | 24 | €225,235 | €5,765,437 | +€5.5m | +2459.7% |
| Leasing and similar rights | 25 | €4,881,163 | €3,640,635 | -€1.2m | -25.4% |
| Other tangible fixed assets | 26 | €2,040 | €386 | -€1,653 | -81.1% |
| Financial fixed assets | 28 | €13,430,444 | €12,653,990 | -€776,454 | -5.8% |
| Affiliated companies | 280/1 | €12,279,291 | €12,279,291 | = | 0.0% |
| Participating interests | 280 | €12,279,291 | €12,279,291 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €1,106,280 | €300,667 | -€805,614 | -72.8% |
| Participating interests | 282 | €525,614 | - | -€525,614 | |
| Amounts receivable | 283 | €580,667 | €300,667 | -€280,000 | -48.2% |
| Other financial fixed assets | 284/8 | €44,873 | €74,033 | +€29,160 | +65.0% |
| Shares | 284 | €35,727 | €35,727 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,146 | €38,306 | +€29,160 | +318.8% |
| Current assets | 29/58 | €22,379,576 | €20,589,644 | -€1.8m | -8.0% |
| Amounts receivable after more than one year | 29 | €2,500,000 | €2,600,000 | +€100,000 | +4.0% |
| Other amounts receivable | 291 | €2,500,000 | €2,600,000 | +€100,000 | +4.0% |
| Stocks and contracts in progress | 3 | €611,419 | €504,271 | -€107,148 | -17.5% |
| Stocks | 30/36 | €611,419 | €504,271 | -€107,148 | -17.5% |
| Goods purchased for resale | 34 | €611,419 | €504,271 | -€107,148 | -17.5% |
| Amounts receivable within one year | 40/41 | €13,267,712 | €11,975,073 | -€1.3m | -9.7% |
| Trade receivables | 40 | €12,388,850 | €10,667,900 | -€1.7m | -13.9% |
| Other amounts receivable | 41 | €878,862 | €1,307,173 | +€428,312 | +48.7% |
| Cash at bank and in hand | 54/58 | €5,924,810 | €5,470,187 | -€454,623 | -7.7% |
| Deferred charges and accrued income | 490/1 | €75,636 | €40,113 | -€35,523 | -47.0% |
| Total equity and liabilities | 10/49 | €41,268,818 | €42,993,941 | +€1.7m | +4.2% |
| Equity | 10/15 | €5,111,300 | €8,653,711 | +€3.5m | +69.3% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €5,661,455 | +€5.7m | |
| Reserves | 13 | €2,986,593 | €867,549 | -€2.1m | -71.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Distributable reserves | 133 | €2,786,593 | €667,549 | -€2.1m | -76.0% |
| Investment grants | 15 | €124,707 | €124,707 | = | 0.0% |
| Provisions and deferred taxes | 16 | €57,240 | €56,991 | -€249 | -0.4% |
| Provisions for liabilities and charges | 160/5 | €57,240 | €56,991 | -€249 | -0.4% |
| Pensions and similar obligations | 160 | €15,521 | €15,272 | -€249 | -1.6% |
| Other liabilities and charges | 164/5 | €41,719 | €41,719 | = | 0.0% |
| Amounts payable | 17/49 | €36,100,278 | €34,283,239 | -€1.8m | -5.0% |
| Amounts payable after more than one year | 17 | €9,812,801 | €7,702,726 | -€2.1m | -21.5% |
| Financial debts | 170/4 | €9,812,801 | €7,702,726 | -€2.1m | -21.5% |
| Subordinated loans | 170 | €1,900,000 | €1,600,000 | -€300,000 | -15.8% |
| Leasing and similar obligations | 172 | €3,907,801 | €2,740,583 | -€1.2m | -29.9% |
| Credit institutions | 173 | €3,375,000 | €2,732,143 | -€642,857 | -19.0% |
| Other loans | 174 | €630,000 | €630,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,955,610 | €26,196,273 | +€240,662 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €1,872,946 | €2,219,453 | +€346,507 | +18.5% |
| Financial debts | 43 | €371,737 | €109,520 | -€262,217 | -70.5% |
| Credit institutions | 430/8 | €371,737 | €109,520 | -€262,217 | -70.5% |
| Trade debts | 44 | €22,171,487 | €23,062,747 | +€891,260 | +4.0% |
| Suppliers | 440/4 | €22,171,487 | €23,062,747 | +€891,260 | +4.0% |
| Taxes, remuneration and social security | 45 | €719,441 | €804,552 | +€85,111 | +11.8% |
| Taxes | 450/3 | €305,559 | €364,436 | +€58,876 | +19.3% |
| Remuneration and social security | 454/9 | €413,882 | €440,117 | +€26,235 | +6.3% |
| Other amounts payable | 47/48 | €820,000 | - | -€820,000 | |
| Accrued charges and deferred income | 492/3 | €331,866 | €384,240 | +€52,374 | +15.8% |
| Operating income | 70/76A | €115,799,242 | €117,725,462 | +€1.9m | +1.7% |
| Turnover | 70 | €113,579,081 | €114,565,326 | +€986,244 | +0.9% |
| Other operating income | 74 | €2,217,540 | €3,153,020 | +€935,480 | +42.2% |
| Non-recurring operating income | 76A | €2,620 | €7,117 | +€4,496 | +171.6% |
| Operating charges | 60/66A | €116,762,792 | €118,608,287 | +€1.8m | +1.6% |
| Goods for resale, raw materials and consumables | 60 | €103,535,889 | €104,589,121 | +€1.1m | +1.0% |
| Purchases | 600/8 | €103,535,889 | €104,589,121 | +€1.1m | +1.0% |
| Services and other goods | 61 | €7,800,754 | €8,033,715 | +€232,961 | +3.0% |
| Remuneration, social security and pensions | 62 | €3,087,985 | €3,226,849 | +€138,864 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,727,913 | €1,455,261 | -€272,652 | -15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,158 | €832,534 | +€848,691 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €937 | -€249 | -€1,186 | |
| Other operating charges | 640/8 | €15,811 | €16,955 | +€1,145 | +7.2% |
| Non-recurring operating charges | 66A | €609,660 | €454,101 | -€155,559 | -25.5% |
| Operating profit (loss) | 9901 | -€963,550 | -€882,825 | +€80,725 | +8.4% |
| Financial income | 75/76B | €1,912,170 | €657,250 | -€1.3m | -65.6% |
| Recurring financial income | 75 | €1,912,170 | €657,250 | -€1.3m | -65.6% |
| Income from financial fixed assets | 750 | €1,871,054 | €500,279 | -€1.4m | -73.3% |
| Income from current assets | 751 | €21,353 | €8,138 | -€13,215 | -61.9% |
| Other financial income | 752/9 | €19,764 | €148,833 | +€129,070 | +653.1% |
| Financial charges | 65/66B | €953,923 | €1,889,862 | +€935,939 | +98.1% |
| Recurring financial charges | 65 | €953,923 | €810,250 | -€143,673 | -15.1% |
| Debt charges | 650 | €859,131 | €714,867 | -€144,264 | -16.8% |
| Other financial charges | 652/9 | €94,792 | €95,383 | +€591 | +0.6% |
| Non-recurring financial charges | 66B | - | €1,079,612 | +€1.1m | |
| Profit (loss) for the period before taxes | 9903 | -€5,303 | -€2,115,437 | -€2.1m | -39792.5% |
| Transfer from deferred taxes | 780 | €3,296 | - | -€3,296 | |
| Income taxes | 67/77 | €3,566 | €3,607 | +€41 | +1.1% |
| Taxes | 670/3 | €3,566 | €3,607 | +€41 | +1.1% |
| Profit (loss) for the period | 9904 | -€5,573 | -€2,119,043 | -€2.1m | -37926.6% |
| Transfer from tax-exempt reserves | 789 | €7,847 | - | -€7,847 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,274 | -€2,119,043 | -€2.1m |
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 2 October 2026 via checked.be.