PBM Logistics: 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.
PBM Logistics
Largest movements
- Tangible fixed assets +€149,208
up €149,208 (+438.9%), from €33,998 to €183,206
of which Leasing and similar rights: +€159,863
- Receivables within one year +€21,430
up €21,430 (+6.5%), from €331,655 to €353,085
of which Other amounts receivable: +€50,639
- Cash +€13,215
up €13,215 (+518.3%), from €2,550 to €15,764
mainly Debts after one year (+€113,811) and Trade debts (+€36,083)
- Deferred charges and accrued income +€8,630
up €8,630 (+84.5%), from €10,216 to €18,845
- Debts after one year +€113,811
up €113,811 (+870.7%), from €13,071 to €126,882
- Trade debts +€36,083
up €36,083 (+15.0%), from €241,024 to €277,107
- Current portion of long-term debt +€27,054
up €27,054 (+377.4%), from €7,169 to €34,223
- Profit (loss) carried forward +€20,803
up €20,803 (+18.8%), from €110,737 to €131,540
- Gross operating margin +€18,363
up €18,363 (+8.6%), from €213,716 to €232,079
- Other operating charges +€17,719
up €17,719 (+229.0%), from €7,737 to €25,456
- Depreciation +€17,534
up €17,534 (+341.5%), from €5,134 to €22,668
- Taxes -€10,782
down €10,782 (-82.3%), from €13,095 to €2,314
- Staff costs +€6,629
up €6,629 (+4.4%), from €149,114 to €155,742
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 | €412,578 | €604,935 | +€192,357 | +46.6% |
| Fixed assets | 21/28 | €68,158 | €217,241 | +€149,083 | +218.7% |
| Tangible fixed assets | 22/27 | €33,998 | €183,206 | +€149,208 | +438.9% |
| Plant, machinery and equipment | 23 | €13,456 | €21,866 | +€8,410 | +62.5% |
| Furniture and vehicles | 24 | €20,542 | €1,476 | -€19,066 | -92.8% |
| Leasing and similar rights | 25 | - | €159,863 | +€159,863 | |
| Financial fixed assets | 28 | €34,160 | €34,035 | -€125 | -0.4% |
| Current assets | 29/58 | €344,420 | €387,694 | +€43,274 | +12.6% |
| Amounts receivable within one year | 40/41 | €331,655 | €353,085 | +€21,430 | +6.5% |
| Trade receivables | 40 | €310,315 | €281,106 | -€29,210 | -9.4% |
| Other amounts receivable | 41 | €21,340 | €71,979 | +€50,639 | +237.3% |
| Cash at bank and in hand | 54/58 | €2,550 | €15,764 | +€13,215 | +518.3% |
| Deferred charges and accrued income | 490/1 | €10,216 | €18,845 | +€8,630 | +84.5% |
| Total equity and liabilities | 10/49 | €412,578 | €604,935 | +€192,357 | +46.6% |
| Equity | 10/15 | €123,137 | €143,940 | +€20,803 | +16.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,737 | €131,540 | +€20,803 | +18.8% |
| Amounts payable | 17/49 | €289,441 | €460,995 | +€171,554 | +59.3% |
| Amounts payable after more than one year | 17 | €13,071 | €126,882 | +€113,811 | +870.7% |
| Financial debts | 170/4 | €13,071 | €126,882 | +€113,811 | +870.7% |
| Amounts payable within one year | 42/48 | €276,370 | €334,080 | +€57,711 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €7,169 | €34,223 | +€27,054 | +377.4% |
| Trade debts | 44 | €241,024 | €277,107 | +€36,083 | +15.0% |
| Suppliers | 440/4 | €241,024 | €277,107 | +€36,083 | +15.0% |
| Taxes, remuneration and social security | 45 | €28,176 | €22,750 | -€5,427 | -19.3% |
| Taxes | 450/3 | €11,706 | €10,508 | -€1,198 | -10.2% |
| Remuneration and social security | 454/9 | €16,470 | €12,242 | -€4,228 | -25.7% |
| Accrued charges and deferred income | 492/3 | - | €33 | +€33 | |
| Remuneration, social security and pensions | 62 | €149,114 | €155,742 | +€6,629 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,134 | €22,668 | +€17,534 | +341.5% |
| Other operating charges | 640/8 | €7,737 | €25,456 | +€17,719 | +229.0% |
| Non-recurring operating charges | 66A | €358 | €135 | -€223 | -62.3% |
| Gross operating margin | 9900 | €213,716 | €232,079 | +€18,363 | +8.6% |
| Operating profit (loss) | 9901 | €51,374 | €28,078 | -€23,295 | -45.3% |
| Financial income | 75/76B | - | €153 | +€153 | |
| Recurring financial income | 75 | - | €153 | +€153 | |
| Financial charges | 65/66B | €871 | €5,114 | +€4,244 | +487.3% |
| Recurring financial charges | 65 | €871 | €5,114 | +€4,244 | +487.3% |
| Profit (loss) for the period before taxes | 9903 | €50,503 | €23,117 | -€27,386 | -54.2% |
| Income taxes | 67/77 | €13,095 | €2,314 | -€10,782 | -82.3% |
| Profit (loss) for the period | 9904 | €37,408 | €20,803 | -€16,605 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,408 | €20,803 | -€16,605 | -44.4% |
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 7 October 2026 via checked.be.