P.S. 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.
P.S. Logistics
Largest movements
- Receivables within one year +€187,400
up €187,400 (+173%), from €108,416 to €295,816
of which Trade receivables: +€183,352
- Cash +€123,438
up €123,438 (+181%), from €68,359 to €191,797
mainly Net result for the year (+€290,496) and Tax, wage and social debts (+€78,138)
- Tangible fixed assets +€59,863
up €59,863 (+132%), from €45,400 to €105,263
of which Furniture and vehicles: +€51,350
- Financial fixed assets +€53,120
up €53,120 (+181%), from €29,400 to €82,520
- Receivables after one year +€32,000
up €32,000 (+457%), from €7,000 to €39,000
- Profit (loss) carried forward +€290,496
up €290,496 (+323%), from €89,980 to €380,475
- Tax, wage and social debts +€78,138
up €78,138 (+299%), from €26,149 to €104,287
of which Taxes: +€63,903
- Trade debts +€75,932
up €75,932 (+203%), from €37,331 to €113,262
- Accrued charges and deferred income +€36,888
up €36,888 (+140%), from €26,265 to €63,153
- Other debts -€11,716
down €11,716 (-81.7%), from €14,345 to €2,629
- Gross operating margin +€332,067
up €332,067 (+132%), from €251,096 to €583,163
- Taxes +€87,495
up €87,495 (+693%), from €12,626 to €100,120
- Depreciation -€28,606
down €28,606 (-46.0%), from €62,246 to €33,639
- Staff costs +€22,146
up €22,146 (+18.5%), from €119,730 to €141,876
- Other operating charges +€6,704
up €6,704 (+172%), from €3,904 to €10,607
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 | €263,607 | €734,047 | +€470,440 | +178% |
| Fixed assets | 21/28 | €74,800 | €189,603 | +€114,803 | +153% |
| Intangible fixed assets | 21 | - | €1,820 | +€1,820 | |
| Tangible fixed assets | 22/27 | €45,400 | €105,263 | +€59,863 | +132% |
| Plant, machinery and equipment | 23 | €15,483 | €23,996 | +€8,513 | +55.0% |
| Furniture and vehicles | 24 | €29,917 | €81,267 | +€51,350 | +172% |
| Financial fixed assets | 28 | €29,400 | €82,520 | +€53,120 | +181% |
| Current assets | 29/58 | €188,807 | €544,443 | +€355,636 | +188% |
| Amounts receivable after more than one year | 29 | €7,000 | €39,000 | +€32,000 | +457% |
| Other amounts receivable | 291 | €7,000 | €39,000 | +€32,000 | +457% |
| Amounts receivable within one year | 40/41 | €108,416 | €295,816 | +€187,400 | +173% |
| Trade receivables | 40 | €98,570 | €281,922 | +€183,352 | +186% |
| Other amounts receivable | 41 | €9,846 | €13,893 | +€4,048 | +41.1% |
| Cash at bank and in hand | 54/58 | €68,359 | €191,797 | +€123,438 | +181% |
| Deferred charges and accrued income | 490/1 | €5,032 | €17,831 | +€12,799 | +254% |
| Total equity and liabilities | 10/49 | €263,607 | €734,047 | +€470,440 | +178% |
| Equity | 10/15 | €90,980 | €381,475 | +€290,496 | +319% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,980 | €380,475 | +€290,496 | +323% |
| Amounts payable | 17/49 | €172,627 | €352,571 | +€179,944 | +104% |
| Amounts payable after more than one year | 17 | €51,194 | €43,546 | -€7,649 | -14.9% |
| Financial debts | 170/4 | €51,194 | €43,546 | -€7,649 | -14.9% |
| Amounts payable within one year | 42/48 | €95,168 | €245,873 | +€150,705 | +158% |
| Current portion of amounts payable after more than one year | 42 | €17,344 | €25,695 | +€8,351 | +48.2% |
| Trade debts | 44 | €37,331 | €113,262 | +€75,932 | +203% |
| Suppliers | 440/4 | €37,331 | €113,262 | +€75,932 | +203% |
| Taxes, remuneration and social security | 45 | €26,149 | €104,287 | +€78,138 | +299% |
| Taxes | 450/3 | €17,738 | €81,642 | +€63,903 | +360% |
| Remuneration and social security | 454/9 | €8,410 | €22,645 | +€14,235 | +169% |
| Other amounts payable | 47/48 | €14,345 | €2,629 | -€11,716 | -81.7% |
| Accrued charges and deferred income | 492/3 | €26,265 | €63,153 | +€36,888 | +140% |
| Remuneration, social security and pensions | 62 | €119,730 | €141,876 | +€22,146 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,246 | €33,639 | -€28,606 | -46.0% |
| Other operating charges | 640/8 | €3,904 | €10,607 | +€6,704 | +172% |
| Non-recurring operating charges | 66A | €2,489 | €23 | -€2,466 | -99.1% |
| Gross operating margin | 9900 | €251,096 | €583,163 | +€332,067 | +132% |
| Operating profit (loss) | 9901 | €62,728 | €397,018 | +€334,290 | +533% |
| Financial income | 75/76B | €316 | €501 | +€185 | +58.6% |
| Recurring financial income | 75 | €316 | €501 | +€185 | +58.6% |
| Financial charges | 65/66B | €5,427 | €6,902 | +€1,475 | +27.2% |
| Recurring financial charges | 65 | €5,427 | €6,902 | +€1,475 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €57,617 | €390,616 | +€332,999 | +578% |
| Income taxes | 67/77 | €12,626 | €100,120 | +€87,495 | +693% |
| Profit (loss) for the period | 9904 | €44,991 | €290,496 | +€245,505 | +546% |
| Profit (loss) for the period to be appropriated | 9905 | €44,991 | €290,496 | +€245,505 | +546% |
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 17 October 2026 via checked.be.