Q-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.
Q-Logistics
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-45.3%), from €2.2m to €1.2m
of which Other amounts receivable: -€1.2m
- Financial fixed assets +€994,005
up €994,005 (+2164.0%), from €45,934 to €1.0m
- Tangible fixed assets -€233,312
down €233,312 (-22.2%), from €1.1m to €816,901
of which Leasing and similar rights: -€217,035
- Short-term financial debts +€280,535
new in 2025: €280,535
- Profit (loss) carried forward -€247,595
down €247,595 (-64.1%), from -€386,377 to -€633,972
- Debts after one year -€192,872
down €192,872 (-24.9%), from €775,158 to €582,286
of which Financial debts: -€192,872
- Trade debts -€41,141
down €41,141 (-7.4%), from €554,497 to €513,356
- Gross operating margin -€545,724
down €545,724 (-30.5%), from €1.8m to €1.2m
- Staff costs -€169,061
down €169,061 (-12.2%), from €1.4m to €1.2m
- Depreciation +€143,906
up €143,906 (+153.0%), from €94,065 to €237,971
- Financial charges +€28,336
up €28,336 (+176.2%), from €16,079 to €44,415
of which Financial charges: +€28,336
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 | €3,364,987 | €3,114,008 | -€250,979 | -7.5% |
| Fixed assets | 21/28 | €1,096,146 | €1,856,839 | +€760,692 | +69.4% |
| Tangible fixed assets | 22/27 | €1,050,213 | €816,901 | -€233,312 | -22.2% |
| Plant, machinery and equipment | 23 | €3,370 | €1,577 | -€1,793 | -53.2% |
| Furniture and vehicles | 24 | €63,004 | €48,520 | -€14,484 | -23.0% |
| Leasing and similar rights | 25 | €983,839 | €766,804 | -€217,035 | -22.1% |
| Financial fixed assets | 28 | €45,934 | €1,039,938 | +€994,005 | +2164.0% |
| Current assets | 29/58 | €2,268,841 | €1,257,169 | -€1.0m | -44.6% |
| Amounts receivable within one year | 40/41 | €2,224,440 | €1,216,812 | -€1.0m | -45.3% |
| Trade receivables | 40 | €753,343 | €909,333 | +€155,989 | +20.7% |
| Other amounts receivable | 41 | €1,471,097 | €307,479 | -€1.2m | -79.1% |
| Cash at bank and in hand | 54/58 | €162 | €96 | -€66 | -40.8% |
| Deferred charges and accrued income | 490/1 | €44,238 | €40,261 | -€3,977 | -9.0% |
| Total equity and liabilities | 10/49 | €3,364,987 | €3,114,008 | -€250,979 | -7.5% |
| Equity | 10/15 | €1,641,498 | €1,393,903 | -€247,595 | -15.1% |
| Contributions | 10/11 | €2,015,875 | €2,015,875 | = | 0.0% |
| Capital | 10 | €2,015,875 | €2,015,875 | = | 0.0% |
| Issued capital | 100 | €2,015,875 | €2,015,875 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€386,377 | -€633,972 | -€247,595 | -64.1% |
| Amounts payable | 17/49 | €1,723,489 | €1,720,105 | -€3,385 | -0.2% |
| Amounts payable after more than one year | 17 | €775,158 | €582,286 | -€192,872 | -24.9% |
| Financial debts | 170/4 | €771,408 | €578,536 | -€192,872 | -25.0% |
| Other amounts payable | 178/9 | €3,750 | €3,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €948,331 | €1,137,819 | +€189,488 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €216,934 | €194,596 | -€22,338 | -10.3% |
| Financial debts | 43 | - | €280,535 | +€280,535 | |
| Credit institutions | 430/8 | - | €280,535 | +€280,535 | |
| Trade debts | 44 | €554,497 | €513,356 | -€41,141 | -7.4% |
| Suppliers | 440/4 | €554,497 | €513,356 | -€41,141 | -7.4% |
| Taxes, remuneration and social security | 45 | €176,900 | €149,332 | -€27,568 | -15.6% |
| Taxes | 450/3 | €22,265 | €5,764 | -€16,501 | -74.1% |
| Remuneration and social security | 454/9 | €154,635 | €143,568 | -€11,067 | -7.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €20,495 | €8,500 | -€11,995 | -58.5% |
| Remuneration, social security and pensions | 62 | €1,390,978 | €1,221,916 | -€169,061 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,065 | €237,971 | +€143,906 | +153.0% |
| Other operating charges | 640/8 | €12,886 | €13,216 | +€329 | +2.6% |
| Non-recurring operating charges | 66A | €25,732 | €2,204 | -€23,528 | -91.4% |
| Gross operating margin | 9900 | €1,788,425 | €1,242,701 | -€545,724 | -30.5% |
| Operating profit (loss) | 9901 | €264,764 | -€232,606 | -€497,370 | |
| Financial income | 75/76B | €24,929 | €29,459 | +€4,530 | +18.2% |
| Recurring financial income | 75 | €24,929 | €29,459 | +€4,530 | +18.2% |
| Financial charges | 65/66B | €16,079 | €44,415 | +€28,336 | +176.2% |
| Recurring financial charges | 65 | €16,079 | €44,415 | +€28,336 | +176.2% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €273,614 | -€247,563 | -€521,177 | |
| Income taxes | 67/77 | €0 | €32 | +€32 | |
| Profit (loss) for the period | 9904 | €273,614 | -€247,595 | -€521,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €273,614 | -€247,595 | -€521,209 |
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.