PSA Breakbulk: 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.
What changed
PSA Breakbulk
NACE 52.220, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5.6m
2024 · €6.5m-€918,382
Equity
€24.0m
2024 · €20.4m+€3.6m
Cash
€4.1m
2024 · €4.7m-€581,034
Balance sheet total
€39.2m
2024 · €38.9m+€354,841
Largest movements
Assets
- Current investments +€4.0m
up €4.0m (+50.0%), from €8.0m to €12.0m
- Receivables within one year -€3.2m
down €3.2m (-30.2%), from €10.6m to €7.4m
of which Trade receivables: -€2.9m
- Cash -€581,034
down €581,034 (-12.5%), from €4.7m to €4.1m
mainly Current investments (-€4.0m) and Investment in fixed assets (net) (-€2.3m)
Equity and liabilities
- Profit (loss) carried forward +€3.6m
up €3.6m (+22.2%), from €16.1m to €19.7m
- Trade debts -€2.0m
down €2.0m (-16.7%), from €11.7m to €9.7m
- Debts after one year -€1.1m
down €1.1m (-39.9%), from €2.8m to €1.7m
Income statement
- Turnover -€2.7m
down €2.7m (-4.8%), from €57.1m to €54.4m
- Services and other goods -€2.5m
down €2.5m (-6.1%), from €41.3m to €38.8m
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.
Result 2024
€6.5m
Turnover
-€2.7m
Other operating income
+€129,354
Goods and materials
-€147,168
Services and other goods
+€2.5m
Staff costs
-€167,477
Depreciation
-€30,824
Write-downs
-€28,210
Provisions
-€507,904
Other operating charges
-€115,956
Other operating items
-€94,122
Financial income
+€59,743
Financial charges
-€9,166
Taxes
+€181,523
Result 2025
€5.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€8.9m
Investment
-€6.3m
Financing
-€3.1m
Cash 2024
€4.7m
From operations (derived)
+€8.9m
Net result for the year
+€5.6m
Depreciation
+€2.4m
Stocks and contracts
-€142,761
Receivables within one year
+€3.2m
Deferred charges and accrued income
-€109,638
Provisions
-€42,854
Trade debts
-€2.0m
Tax, wage and social debts
+€29,638
Other debts
+€7,275
Accrued charges and deferred income
-€139,316
Investment (derived)
-€6.3m
Investment in fixed assets (net)
-€2.3m
Current investments
-€4.0m
Financing
-€3.1m
Debts after one year
-€1.1m
Current portion of long-term debt
+€4,178
Contributions, distributions and other
-€2.0m
Cash 2025
€4.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,876,386 | €39,231,227 | +€354,841 | +0.9% |
| Fixed assets | 21/28 | €13,121,329 | €13,000,094 | -€121,235 | -0.9% |
| Intangible fixed assets | 21 | €438,865 | €333,015 | -€105,850 | -24.1% |
| Tangible fixed assets | 22/27 | €12,462,493 | €12,447,108 | -€15,385 | -0.1% |
| Land and buildings | 22 | €7,065,378 | €7,063,562 | -€1,816 | 0.0% |
| Plant, machinery and equipment | 23 | €1,071,279 | €957,332 | -€113,947 | -10.6% |
| Furniture and vehicles | 24 | €252,729 | €214,826 | -€37,903 | -15.0% |
| Leasing and similar rights | 25 | €3,882,779 | €2,772,109 | -€1.1m | -28.6% |
| Assets under construction and advance payments | 27 | €190,328 | €1,439,278 | +€1.2m | +656% |
| Financial fixed assets | 28 | €219,971 | €219,971 | = | 0.0% |
| Other financial fixed assets | 284/8 | €219,971 | €219,971 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €219,971 | €219,971 | = | 0.0% |
| Current assets | 29/58 | €25,755,057 | €26,231,133 | +€476,076 | +1.8% |
| Stocks and contracts in progress | 3 | €1,411,099 | €1,553,860 | +€142,761 | +10.1% |
| Stocks | 30/36 | €1,411,099 | €1,553,860 | +€142,761 | +10.1% |
| Raw materials and consumables | 30/31 | €1,411,099 | €1,553,860 | +€142,761 | +10.1% |
| Amounts receivable within one year | 40/41 | €10,575,936 | €7,380,647 | -€3.2m | -30.2% |
| Trade receivables | 40 | €9,371,337 | €6,492,432 | -€2.9m | -30.7% |
| Other amounts receivable | 41 | €1,204,599 | €888,214 | -€316,385 | -26.3% |
| Current investments | 50/53 | €8,000,000 | €12,000,000 | +€4.0m | +50.0% |
| Other investments | 51/53 | €8,000,000 | €12,000,000 | +€4.0m | +50.0% |
| Cash at bank and in hand | 54/58 | €4,652,512 | €4,071,478 | -€581,034 | -12.5% |
| Deferred charges and accrued income | 490/1 | €1,115,510 | €1,225,149 | +€109,638 | +9.8% |
| Total equity and liabilities | 10/49 | €38,876,386 | €39,231,227 | +€354,841 | +0.9% |
| Equity | 10/15 | €20,412,319 | €23,986,871 | +€3.6m | +17.5% |
| Contributions | 10/11 | €2,736,029 | €2,736,029 | = | 0.0% |
| Capital | 10 | €2,736,029 | €2,736,029 | = | 0.0% |
| Issued capital | 100 | €2,736,029 | €2,736,029 | = | 0.0% |
| Reserves | 13 | €1,542,967 | €1,542,967 | = | 0.0% |
| Non-distributable reserves | 130/1 | €273,603 | €273,603 | = | 0.0% |
| Legal reserve | 130 | €273,603 | €273,603 | = | 0.0% |
| Distributable reserves | 133 | €1,269,364 | €1,269,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,133,323 | €19,707,875 | +€3.6m | +22.2% |
| Provisions and deferred taxes | 16 | €1,803,466 | €1,760,611 | -€42,854 | -2.4% |
| Provisions for liabilities and charges | 160/5 | €1,803,466 | €1,760,611 | -€42,854 | -2.4% |
| Other liabilities and charges | 164/5 | €1,803,466 | €1,760,611 | -€42,854 | -2.4% |
| Amounts payable | 17/49 | €16,660,601 | €13,483,744 | -€3.2m | -19.1% |
| Amounts payable after more than one year | 17 | €2,807,886 | €1,688,932 | -€1.1m | -39.9% |
| Financial debts | 170/4 | €2,807,886 | €1,688,932 | -€1.1m | -39.9% |
| Leasing and similar obligations | 172 | €2,807,886 | €1,688,932 | -€1.1m | -39.9% |
| Amounts payable within one year | 42/48 | €13,488,702 | €11,570,115 | -€1.9m | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €835,561 | €839,739 | +€4,178 | +0.5% |
| Trade debts | 44 | €11,701,316 | €9,741,638 | -€2.0m | -16.7% |
| Suppliers | 440/4 | €11,701,316 | €9,741,638 | -€2.0m | -16.7% |
| Taxes, remuneration and social security | 45 | €890,264 | €919,902 | +€29,638 | +3.3% |
| Taxes | 450/3 | €157,351 | €13,341 | -€144,010 | -91.5% |
| Remuneration and social security | 454/9 | €732,913 | €906,560 | +€173,647 | +23.7% |
| Other amounts payable | 47/48 | €61,561 | €68,836 | +€7,275 | +11.8% |
| Accrued charges and deferred income | 492/3 | €364,014 | €224,698 | -€139,316 | -38.3% |
| Operating income | 70/76A | €57,810,343 | €55,223,641 | -€2.6m | -4.5% |
| Turnover | 70 | €57,100,178 | €54,383,286 | -€2.7m | -4.8% |
| Other operating income | 74 | €606,161 | €735,515 | +€129,354 | +21.3% |
| Non-recurring operating income | 76A | €104,004 | €104,840 | +€837 | +0.8% |
| Operating charges | 60/66A | €49,248,358 | €47,812,138 | -€1.4m | -2.9% |
| Goods for resale, raw materials and consumables | 60 | €2,352,784 | €2,499,952 | +€147,168 | +6.3% |
| Purchases | 600/8 | €2,284,013 | €2,642,714 | +€358,700 | +15.7% |
| Change in stocks: decrease (increase) | 609 | €68,771 | -€142,761 | -€211,533 | |
| Services and other goods | 61 | €41,306,622 | €38,777,905 | -€2.5m | -6.1% |
| Remuneration, social security and pensions | 62 | €2,775,698 | €2,943,176 | +€167,477 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,408,288 | €2,439,112 | +€30,824 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €28,210 | +€28,210 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€550,758 | -€42,854 | +€507,904 | +92.2% |
| Other operating charges | 640/8 | €955,723 | €1,071,679 | +€115,956 | +12.1% |
| Non-recurring operating charges | 66A | - | €94,959 | +€94,959 | |
| Operating profit (loss) | 9901 | €8,561,985 | €7,411,503 | -€1.2m | -13.4% |
| Financial income | 75/76B | €182,770 | €242,513 | +€59,743 | +32.7% |
| Recurring financial income | 75 | €182,770 | €242,513 | +€59,743 | +32.7% |
| Income from current assets | 751 | €154,377 | €199,498 | +€45,121 | +29.2% |
| Other financial income | 752/9 | €28,393 | €43,015 | +€14,622 | +51.5% |
| Financial charges | 65/66B | €58,852 | €68,018 | +€9,166 | +15.6% |
| Recurring financial charges | 65 | €58,852 | €68,018 | +€9,166 | +15.6% |
| Debt charges | 650 | €56,422 | €65,466 | +€9,044 | +16.0% |
| Other financial charges | 652/9 | €2,430 | €2,552 | +€121 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €8,685,903 | €7,585,998 | -€1.1m | -12.7% |
| Income taxes | 67/77 | €2,192,968 | €2,011,446 | -€181,523 | -8.3% |
| Taxes | 670/3 | €2,475,366 | €2,011,461 | -€463,905 | -18.7% |
| Tax adjustments and reversals of tax provisions | 77 | €282,397 | €15 | -€282,382 | -100.0% |
| Profit (loss) for the period | 9904 | €6,492,935 | €5,574,552 | -€918,382 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,492,935 | €5,574,552 | -€918,382 | -14.1% |
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.