PAUWELS 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.
PAUWELS LOGISTICS
Largest movements
- Receivables within one year -€101,102
down €101,102 (-25.3%), from €399,301 to €298,199
of which Other amounts receivable: -€108,608
- Tangible fixed assets +€56,321
up €56,321 (+13.0%), from €433,459 to €489,781
of which Furniture and vehicles: +€51,837
- Cash +€41,847
up €41,847 (+74.4%), from €56,245 to €98,092
mainly Depreciation (+€104,379) and Receivables within one year (+€101,102)
- Trade debts -€159,242
down €159,242 (-85.9%), from €185,433 to €26,191
- Debts after one year +€67,935
up €67,935 (+21.1%), from €322,477 to €390,412
- Current portion of long-term debt +€45,443
up €45,443 (+77.0%), from €59,023 to €104,465
- Tax, wage and social debts +€24,070
up €24,070 (+26.6%), from €90,643 to €114,713
of which Taxes: +€32,315
- Reserves +€16,429
up €16,429 (+8.5%), from €193,613 to €210,042
of which Distributable reserves: +€16,429
- Gross operating margin +€142,998
up €142,998 (+24.6%), from €581,805 to €724,803
- Staff costs +€83,789
up €83,789 (+17.0%), from €491,909 to €575,698
- Depreciation +€34,915
up €34,915 (+50.3%), from €69,464 to €104,379
- Financial charges +€18,174
up €18,174 (+435%), from €4,178 to €22,352
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 | €913,774 | €908,717 | -€5,057 | -0.6% |
| Fixed assets | 21/28 | €437,746 | €493,797 | +€56,051 | +12.8% |
| Tangible fixed assets | 22/27 | €433,459 | €489,781 | +€56,321 | +13.0% |
| Plant, machinery and equipment | 23 | €47,209 | €51,693 | +€4,484 | +9.5% |
| Furniture and vehicles | 24 | €386,250 | €438,087 | +€51,837 | +13.4% |
| Financial fixed assets | 28 | €4,287 | €4,017 | -€270 | -6.3% |
| Current assets | 29/58 | €476,028 | €414,920 | -€61,108 | -12.8% |
| Amounts receivable within one year | 40/41 | €399,301 | €298,199 | -€101,102 | -25.3% |
| Trade receivables | 40 | €165,120 | €172,626 | +€7,506 | +4.5% |
| Other amounts receivable | 41 | €234,181 | €125,573 | -€108,608 | -46.4% |
| Cash at bank and in hand | 54/58 | €56,245 | €98,092 | +€41,847 | +74.4% |
| Deferred charges and accrued income | 490/1 | €20,482 | €18,628 | -€1,853 | -9.0% |
| Total equity and liabilities | 10/49 | €913,774 | €908,717 | -€5,057 | -0.6% |
| Equity | 10/15 | €255,113 | €271,542 | +€16,429 | +6.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €193,613 | €210,042 | +€16,429 | +8.5% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €187,463 | €203,892 | +€16,429 | +8.8% |
| Amounts payable | 17/49 | €658,661 | €637,174 | -€21,486 | -3.3% |
| Amounts payable after more than one year | 17 | €322,477 | €390,412 | +€67,935 | +21.1% |
| Financial debts | 170/4 | €322,477 | €390,412 | +€67,935 | +21.1% |
| Amounts payable within one year | 42/48 | €335,098 | €245,369 | -€89,729 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €59,023 | €104,465 | +€45,443 | +77.0% |
| Trade debts | 44 | €185,433 | €26,191 | -€159,242 | -85.9% |
| Suppliers | 440/4 | €185,433 | €26,191 | -€159,242 | -85.9% |
| Taxes, remuneration and social security | 45 | €90,643 | €114,713 | +€24,070 | +26.6% |
| Taxes | 450/3 | €823 | €33,138 | +€32,315 | +3,926% |
| Remuneration and social security | 454/9 | €89,820 | €81,575 | -€8,245 | -9.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,085 | €1,393 | +€308 | +28.4% |
| Remuneration, social security and pensions | 62 | €491,909 | €575,698 | +€83,789 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,464 | €104,379 | +€34,915 | +50.3% |
| Other operating charges | 640/8 | €3,573 | €4,117 | +€544 | +15.2% |
| Gross operating margin | 9900 | €581,805 | €724,803 | +€142,998 | +24.6% |
| Operating profit (loss) | 9901 | €16,860 | €40,610 | +€23,750 | +141% |
| Financial income | 75/76B | €1,217 | €6,834 | +€5,617 | +461% |
| Recurring financial income | 75 | €1,217 | €6,834 | +€5,617 | +461% |
| Financial charges | 65/66B | €4,178 | €22,352 | +€18,174 | +435% |
| Recurring financial charges | 65 | €4,178 | €22,352 | +€18,174 | +435% |
| Profit (loss) for the period before taxes | 9903 | €13,899 | €25,091 | +€11,192 | +80.5% |
| Income taxes | 67/77 | €5,406 | €8,662 | +€3,256 | +60.2% |
| Profit (loss) for the period | 9904 | €8,493 | €16,429 | +€7,936 | +93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,493 | €16,429 | +€7,936 | +93.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.