Secure Logistic Services: 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.
Secure Logistic Services
Largest movements
- Receivables within one year -€39,637
down €39,637 (-21.9%), from €181,232 to €141,594
of which Trade receivables: -€50,424
- Tangible fixed assets -€19,603
down €19,603 (-2.8%), from €700,953 to €681,350
of which Land and buildings: -€24,009
- Profit (loss) carried forward -€352,144
down €352,144 (-100.0%), from €352,144 to €0
- Reserves +€314,280
new in 2025: €314,280
- Other debts +€90,562
up €90,562 (+894.9%), from €10,119 to €100,682
- Tax, wage and social debts -€50,828
down €50,828 (-40.3%), from €126,164 to €75,336
of which Taxes: -€27,356
- Trade debts -€48,326
down €48,326 (-40.2%), from €120,268 to €71,942
- Gross operating margin -€313,944
down €313,944 (-30.2%), from €1.0m to €723,892
- Staff costs -€260,921
down €260,921 (-30.8%), from €847,717 to €586,796
- Taxes -€15,787
down €15,787 (-40.2%), from €39,232 to €23,445
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 | €1,076,442 | €1,014,232 | -€62,210 | -5.8% |
| Fixed assets | 21/28 | €700,953 | €681,350 | -€19,603 | -2.8% |
| Tangible fixed assets | 22/27 | €700,953 | €681,350 | -€19,603 | -2.8% |
| Land and buildings | 22 | €658,976 | €634,967 | -€24,009 | -3.6% |
| Plant, machinery and equipment | 23 | €6,443 | €5,676 | -€768 | -11.9% |
| Furniture and vehicles | 24 | €35,534 | €40,708 | +€5,174 | +14.6% |
| Current assets | 29/58 | €375,489 | €332,882 | -€42,607 | -11.3% |
| Amounts receivable within one year | 40/41 | €181,232 | €141,594 | -€39,637 | -21.9% |
| Trade receivables | 40 | €180,464 | €130,040 | -€50,424 | -27.9% |
| Other amounts receivable | 41 | €768 | €11,555 | +€10,787 | +1404.8% |
| Cash at bank and in hand | 54/58 | €189,428 | €187,418 | -€2,009 | -1.1% |
| Deferred charges and accrued income | 490/1 | €4,829 | €3,869 | -€960 | -19.9% |
| Total equity and liabilities | 10/49 | €1,076,442 | €1,014,232 | -€62,210 | -5.8% |
| Equity | 10/15 | €354,644 | €316,780 | -€37,865 | -10.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €314,280 | +€314,280 | |
| Distributable reserves | 133 | - | €314,280 | +€314,280 | |
| Profit (loss) carried forward | 14 | €352,144 | €0 | -€352,144 | -100.0% |
| Amounts payable | 17/49 | €721,798 | €697,452 | -€24,345 | -3.4% |
| Amounts payable after more than one year | 17 | €423,897 | €408,502 | -€15,395 | -3.6% |
| Financial debts | 170/4 | €423,897 | €408,502 | -€15,395 | -3.6% |
| Amounts payable within one year | 42/48 | €296,746 | €288,275 | -€8,472 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €40,195 | €40,315 | +€120 | +0.3% |
| Trade debts | 44 | €120,268 | €71,942 | -€48,326 | -40.2% |
| Suppliers | 440/4 | €120,268 | €71,942 | -€48,326 | -40.2% |
| Taxes, remuneration and social security | 45 | €126,164 | €75,336 | -€50,828 | -40.3% |
| Taxes | 450/3 | €53,495 | €26,140 | -€27,356 | -51.1% |
| Remuneration and social security | 454/9 | €72,669 | €49,196 | -€23,472 | -32.3% |
| Other amounts payable | 47/48 | €10,119 | €100,682 | +€90,562 | +894.9% |
| Accrued charges and deferred income | 492/3 | €1,154 | €676 | -€478 | -41.5% |
| Non-recurring operating income | 76A | - | €3,491 | +€3,491 | |
| Remuneration, social security and pensions | 62 | €847,717 | €586,796 | -€260,921 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,737 | €32,243 | +€1,506 | +4.9% |
| Other operating charges | 640/8 | €6,742 | €3,009 | -€3,733 | -55.4% |
| Non-recurring operating charges | 66A | €2,162 | €0 | -€2,162 | -100.0% |
| Gross operating margin | 9900 | €1,037,836 | €723,892 | -€313,944 | -30.2% |
| Operating profit (loss) | 9901 | €150,479 | €101,845 | -€48,634 | -32.3% |
| Financial income | 75/76B | €104 | €78 | -€26 | -24.8% |
| Recurring financial income | 75 | €104 | €78 | -€26 | -24.8% |
| Financial charges | 65/66B | €17,694 | €16,343 | -€1,351 | -7.6% |
| Recurring financial charges | 65 | €17,694 | €16,343 | -€1,351 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €132,889 | €85,581 | -€47,308 | -35.6% |
| Income taxes | 67/77 | €39,232 | €23,445 | -€15,787 | -40.2% |
| Profit (loss) for the period | 9904 | €93,657 | €62,135 | -€31,522 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,657 | €62,135 | -€31,522 | -33.7% |
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 10 October 2026 via checked.be.