RAIL & ROAD 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.
RAIL & ROAD LOGISTICS
Largest movements
- Tangible fixed assets -€26,526
down €26,526 (-18.8%), from €141,371 to €114,845
- Deferred charges and accrued income -€5,496
down €5,496 (-26.0%), from €21,156 to €15,659
- Cash +€5,383
up €5,383 (+542%), from €993 to €6,377
mainly Depreciation (+€41,456) and Advances received (+€7,500)
- Financial fixed assets +€1,900
up €1,900 (+281%), from €675 to €2,575
- Debts after one year -€29,133
down €29,133 (-25.4%), from €114,601 to €85,468
- Advances received +€7,500
new in 2025: €7,500
- Tax, wage and social debts -€2,178
down €2,178 (-23.6%), from €9,209 to €7,032
- Depreciation -€12,041
down €12,041 (-22.5%), from €53,497 to €41,456
- Gross operating margin -€1,069
down €1,069 (-2.1%), from €50,345 to €49,276
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 | €186,408 | €161,652 | -€24,756 | -13.3% |
| Fixed assets | 21/28 | €142,046 | €117,420 | -€24,626 | -17.3% |
| Tangible fixed assets | 22/27 | €141,371 | €114,845 | -€26,526 | -18.8% |
| Furniture and vehicles | 24 | €141,371 | €114,845 | -€26,526 | -18.8% |
| Financial fixed assets | 28 | €675 | €2,575 | +€1,900 | +281% |
| Current assets | 29/58 | €44,363 | €44,233 | -€130 | -0.3% |
| Amounts receivable within one year | 40/41 | €22,214 | €22,197 | -€17 | -0.1% |
| Trade receivables | 40 | €21,714 | €22,197 | +€483 | +2.2% |
| Other amounts receivable | 41 | €500 | - | -€500 | |
| Cash at bank and in hand | 54/58 | €993 | €6,377 | +€5,383 | +542% |
| Deferred charges and accrued income | 490/1 | €21,156 | €15,659 | -€5,496 | -26.0% |
| Total equity and liabilities | 10/49 | €186,408 | €161,652 | -€24,756 | -13.3% |
| Equity | 10/15 | -€9,064 | -€10,682 | -€1,618 | -17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,764 | -€29,382 | -€1,618 | -5.8% |
| Amounts payable | 17/49 | €195,472 | €172,334 | -€23,138 | -11.8% |
| Amounts payable after more than one year | 17 | €114,601 | €85,468 | -€29,133 | -25.4% |
| Financial debts | 170/4 | €114,601 | €85,468 | -€29,133 | -25.4% |
| Amounts payable within one year | 42/48 | €79,869 | €85,790 | +€5,921 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €42,651 | €42,582 | -€69 | -0.2% |
| Trade debts | 44 | €2,109 | €2,777 | +€668 | +31.7% |
| Suppliers | 440/4 | €2,109 | €2,777 | +€668 | +31.7% |
| Advances received on contracts in progress | 46 | - | €7,500 | +€7,500 | |
| Taxes, remuneration and social security | 45 | €9,209 | €7,032 | -€2,178 | -23.6% |
| Taxes | 450/3 | €9,209 | €7,032 | -€2,178 | -23.6% |
| Other amounts payable | 47/48 | €25,899 | €25,899 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,002 | €1,076 | +€74 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,497 | €41,456 | -€12,041 | -22.5% |
| Other operating charges | 640/8 | €2,718 | €2,820 | +€102 | +3.7% |
| Gross operating margin | 9900 | €50,345 | €49,276 | -€1,069 | -2.1% |
| Operating profit (loss) | 9901 | -€5,870 | €5,000 | +€10,870 | |
| Financial income | 75/76B | €236 | €100 | -€136 | -57.5% |
| Recurring financial income | 75 | €236 | €100 | -€136 | -57.5% |
| Financial charges | 65/66B | €6,461 | €6,718 | +€257 | +4.0% |
| Recurring financial charges | 65 | €6,461 | €6,718 | +€257 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,096 | -€1,618 | +€10,477 | +86.6% |
| Profit (loss) for the period | 9904 | -€12,096 | -€1,618 | +€10,477 | +86.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,096 | -€1,618 | +€10,477 | +86.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.