New TRM Logistics: 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.
New TRM Logistics
Largest movements
- Tangible fixed assets -€87,935
down €87,935 (-5.4%), from €1.6m to €1.5m
of which Land and buildings: -€84,716
- Receivables within one year -€36,244
down €36,244 (-25.9%), from €140,186 to €103,942
of which Trade receivables: -€51,479
- Cash +€32,773
up €32,773 (+1,261%), from €2,598 to €35,372
mainly Depreciation (+€140,541) and Other debts (+€105,903)
- Other debts +€105,903
new in 2025: €105,903
- Debts after one year -€91,975
down €91,975 (-9.8%), from €935,195 to €843,220
- Trade debts +€60,071
up €60,071 (+17,120%), from €351 to €60,422
- Profit (loss) carried forward -€58,207
down €58,207 (-17.5%), from €333,371 to €275,164
- Provisions -€30,000
no longer reported in 2025 (was €30,000)
- Gross operating margin +€35,684
up €35,684 (+9.2%), from €388,467 to €424,152
- Provisions -€30,000
new in 2025: -€30,000
- Staff costs +€17,007
up €17,007 (+7.1%), from €237,943 to €254,950
- Taxes +€12,229
up €12,229 (+685%), from €1,785 to €14,014
- Depreciation +€5,849
up €5,849 (+4.3%), from €134,692 to €140,541
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 | €1,876,520 | €1,796,393 | -€80,127 | -4.3% |
| Fixed assets | 21/28 | €1,649,102 | €1,559,527 | -€89,575 | -5.4% |
| Intangible fixed assets | 21 | €23,026 | €21,386 | -€1,640 | -7.1% |
| Tangible fixed assets | 22/27 | €1,621,696 | €1,533,761 | -€87,935 | -5.4% |
| Land and buildings | 22 | €1,471,129 | €1,386,412 | -€84,716 | -5.8% |
| Plant, machinery and equipment | 23 | €23,872 | €12,858 | -€11,014 | -46.1% |
| Furniture and vehicles | 24 | €104,876 | €85,534 | -€19,342 | -18.4% |
| Leasing and similar rights | 25 | €21,819 | €48,957 | +€27,138 | +124% |
| Financial fixed assets | 28 | €4,380 | €4,380 | = | 0.0% |
| Current assets | 29/58 | €227,418 | €236,866 | +€9,448 | +4.2% |
| Stocks and contracts in progress | 3 | €73,729 | €89,661 | +€15,931 | +21.6% |
| Stocks | 30/36 | €73,729 | €89,661 | +€15,931 | +21.6% |
| Amounts receivable within one year | 40/41 | €140,186 | €103,942 | -€36,244 | -25.9% |
| Trade receivables | 40 | €133,412 | €81,933 | -€51,479 | -38.6% |
| Other amounts receivable | 41 | €6,774 | €22,008 | +€15,234 | +225% |
| Cash at bank and in hand | 54/58 | €2,598 | €35,372 | +€32,773 | +1,261% |
| Deferred charges and accrued income | 490/1 | €10,904 | €7,892 | -€3,012 | -27.6% |
| Total equity and liabilities | 10/49 | €1,876,520 | €1,796,393 | -€80,127 | -4.3% |
| Equity | 10/15 | €667,271 | €591,511 | -€75,760 | -11.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €333,371 | €275,164 | -€58,207 | -17.5% |
| Investment grants | 15 | €133,900 | €116,347 | -€17,553 | -13.1% |
| Provisions and deferred taxes | 16 | €30,000 | - | -€30,000 | |
| Provisions for liabilities and charges | 160/5 | €30,000 | - | -€30,000 | |
| Environmental obligations | 163 | €30,000 | - | -€30,000 | |
| Amounts payable | 17/49 | €1,179,249 | €1,204,882 | +€25,633 | +2.2% |
| Amounts payable after more than one year | 17 | €935,195 | €843,220 | -€91,975 | -9.8% |
| Financial debts | 170/4 | €935,195 | €843,220 | -€91,975 | -9.8% |
| Amounts payable within one year | 42/48 | €244,054 | €361,661 | +€117,607 | +48.2% |
| Current portion of amounts payable after more than one year | 42 | €148,509 | €128,919 | -€19,590 | -13.2% |
| Trade debts | 44 | €351 | €60,422 | +€60,071 | +17,120% |
| Suppliers | 440/4 | €351 | €60,422 | +€60,071 | +17,120% |
| Taxes, remuneration and social security | 45 | €95,194 | €66,419 | -€28,776 | -30.2% |
| Taxes | 450/3 | €38,352 | €7,770 | -€30,582 | -79.7% |
| Remuneration and social security | 454/9 | €56,842 | €58,649 | +€1,806 | +3.2% |
| Other amounts payable | 47/48 | - | €105,903 | +€105,903 | |
| Remuneration, social security and pensions | 62 | €237,943 | €254,950 | +€17,007 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,692 | €140,541 | +€5,849 | +4.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€30,000 | -€30,000 | |
| Other operating charges | 640/8 | €2,216 | €2,063 | -€153 | -6.9% |
| Gross operating margin | 9900 | €388,467 | €424,152 | +€35,684 | +9.2% |
| Operating profit (loss) | 9901 | €13,616 | €56,597 | +€42,981 | +316% |
| Financial income | 75/76B | €17,557 | €17,554 | -€3 | 0.0% |
| Recurring financial income | 75 | €17,557 | €17,554 | -€3 | 0.0% |
| Financial charges | 65/66B | €16,542 | €18,343 | +€1,801 | +10.9% |
| Recurring financial charges | 65 | €16,542 | €18,343 | +€1,801 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €14,631 | €55,808 | +€41,177 | +281% |
| Income taxes | 67/77 | €1,785 | €14,014 | +€12,229 | +685% |
| Profit (loss) for the period | 9904 | €12,846 | €41,793 | +€28,948 | +225% |
| Profit (loss) for the period to be appropriated | 9905 | €12,846 | €41,793 | +€28,948 | +225% |
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 18 October 2026 via checked.be.