NW-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.
NW-LOGISTICS
Largest movements
- Receivables after one year +€2.0m
up €2.0m (+47.5%), from €4.1m to €6.1m
- Receivables within one year +€207,388
up €207,388 (+75.7%), from €274,130 to €481,518
of which Trade receivables: +€207,488
- Tangible fixed assets -€192,569
down €192,569 (-8.1%), from €2.4m to €2.2m
of which Land and buildings: -€184,924
- Debts after one year +€2.1m
up €2.1m (+165.3%), from €1.3m to €3.4m
- Short-term financial debts -€551,000
down €551,000 (-15.5%), from €3.6m to €3.0m
- Profit (loss) carried forward +€281,310
up €281,310 (+27.4%), from €1.0m to €1.3m
- Current portion of long-term debt +€122,264
up €122,264 (+114.6%), from €106,692 to €228,956
- Trade debts +€109,580
up €109,580 (+48.6%), from €225,329 to €334,909
- Financial charges -€110,298
down €110,298 (-27.4%), from €402,249 to €291,951
of which Non-recurring financial charges: -€97,916
- Taxes +€78,090
up €78,090 (+382.6%), from €20,410 to €98,500
- Gross operating margin -€67,314
down €67,314 (-9.3%), from €725,836 to €658,522
- Financial income +€58,572
up €58,572 (+20.0%), from €292,736 to €351,307
- Write-downs -€45,477
down €45,477 (-85.7%), from €53,088 to €7,610
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 | €8,618,632 | €10,776,931 | +€2.2m | +25.0% |
| Fixed assets | 21/28 | €2,365,110 | €2,172,541 | -€192,569 | -8.1% |
| Tangible fixed assets | 22/27 | €2,365,110 | €2,172,541 | -€192,569 | -8.1% |
| Land and buildings | 22 | €2,089,437 | €1,904,513 | -€184,924 | -8.9% |
| Other tangible fixed assets | 26 | €275,673 | €268,028 | -€7,645 | -2.8% |
| Current assets | 29/58 | €6,253,521 | €8,604,389 | +€2.4m | +37.6% |
| Amounts receivable after more than one year | 29 | €4,130,999 | €6,091,528 | +€2.0m | +47.5% |
| Other amounts receivable | 291 | €4,130,999 | €6,091,528 | +€2.0m | +47.5% |
| Stocks and contracts in progress | 3 | €1,317,226 | €1,385,278 | +€68,052 | +5.2% |
| Stocks | 30/36 | €1,317,226 | €1,385,278 | +€68,052 | +5.2% |
| Amounts receivable within one year | 40/41 | €274,130 | €481,518 | +€207,388 | +75.7% |
| Trade receivables | 40 | €274,030 | €481,518 | +€207,488 | +75.7% |
| Other amounts receivable | 41 | €100 | - | -€100 | |
| Cash at bank and in hand | 54/58 | €15,391 | €24,862 | +€9,470 | +61.5% |
| Deferred charges and accrued income | 490/1 | €515,775 | €621,204 | +€105,429 | +20.4% |
| Total equity and liabilities | 10/49 | €8,618,632 | €10,776,931 | +€2.2m | +25.0% |
| Equity | 10/15 | €3,248,646 | €3,529,956 | +€281,310 | +8.7% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €2,200,085 | €2,200,085 | = | 0.0% |
| Distributable reserves | 133 | €2,200,085 | €2,200,085 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,028,156 | €1,309,467 | +€281,310 | +27.4% |
| Amounts payable | 17/49 | €5,369,985 | €7,246,974 | +€1.9m | +35.0% |
| Amounts payable after more than one year | 17 | €1,269,967 | €3,369,089 | +€2.1m | +165.3% |
| Financial debts | 170/4 | €1,269,967 | €3,369,089 | +€2.1m | +165.3% |
| Amounts payable within one year | 42/48 | €3,894,157 | €3,675,154 | -€219,003 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €106,692 | €228,956 | +€122,264 | +114.6% |
| Financial debts | 43 | €3,551,000 | €3,000,000 | -€551,000 | -15.5% |
| Credit institutions | 430/8 | €3,551,000 | €3,000,000 | -€551,000 | -15.5% |
| Trade debts | 44 | €225,329 | €334,909 | +€109,580 | +48.6% |
| Suppliers | 440/4 | €225,329 | €334,909 | +€109,580 | +48.6% |
| Taxes, remuneration and social security | 45 | €11,136 | €111,289 | +€100,152 | +899.3% |
| Taxes | 450/3 | €11,136 | €111,289 | +€100,152 | +899.3% |
| Accrued charges and deferred income | 492/3 | €205,861 | €202,731 | -€3,130 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294,115 | €295,554 | +€1,439 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €53,088 | €7,610 | -€45,477 | -85.7% |
| Other operating charges | 640/8 | €1,495 | €34,904 | +€33,409 | +2234.1% |
| Gross operating margin | 9900 | €725,836 | €658,522 | -€67,314 | -9.3% |
| Operating profit (loss) | 9901 | €377,138 | €320,454 | -€56,684 | -15.0% |
| Financial income | 75/76B | €292,736 | €351,307 | +€58,572 | +20.0% |
| Recurring financial income | 75 | €292,736 | €351,307 | +€58,572 | +20.0% |
| Financial charges | 65/66B | €402,249 | €291,951 | -€110,298 | -27.4% |
| Recurring financial charges | 65 | €304,333 | €291,951 | -€12,382 | -4.1% |
| Non-recurring financial charges | 66B | €97,916 | - | -€97,916 | |
| Profit (loss) for the period before taxes | 9903 | €267,625 | €379,810 | +€112,186 | +41.9% |
| Income taxes | 67/77 | €20,410 | €98,500 | +€78,090 | +382.6% |
| Profit (loss) for the period | 9904 | €247,215 | €281,310 | +€34,096 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €247,215 | €281,310 | +€34,096 | +13.8% |
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.