Skeyes: 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
Skeyes
NACE 52.230, Warehousing and support activities for transportation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€18.6m
2024 · €15.8m+€2.8m
Equity
€327.5m
2024 · €308.8m+€18.7m
Cash
€1.9m
2024 · €6.6m-€4.7m
Balance sheet total
€546.7m
2024 · €537.8m+€8.9m
Largest movements
Assets
- Current investments +€35.5m
up €35.5m (+32.3%), from €110.0m to €145.5m
- Deferred charges and accrued income -€34.4m
down €34.4m (-15.7%), from €219.6m to €185.2m
- Receivables within one year +€12.7m
up €12.7m (+23.1%), from €54.9m to €67.6m
of which Other amounts receivable: +€6.4m
Equity and liabilities
- Reserves +€18.6m
up €18.6m (+13.7%), from €135.9m to €154.5m
of which Distributable reserves: +€18.6m
- Debts after one year -€15.9m
down €15.9m (-19.4%), from €82.2m to €66.2m
of which Financial debts: -€15.7m
- Accrued charges and deferred income +€9.3m
up €9.3m (+27.4%), from €34.0m to €43.4m
Income statement
- Turnover +€17.7m
up €17.7m (+5.3%), from €335.2m to €352.9m
- Staff costs +€9.7m
up €9.7m (+5.3%), from €182.8m to €192.5m
- Services and other goods +€7.0m
up €7.0m (+5.7%), from €122.2m to €129.2m
- Provisions -€6.4m
down €6.4m, from €3.3m to -€3.1m
- Financial charges +€4.3m
up €4.3m (+2705.4%), from €157,980 to €4.4m
of which Non-recurring financial charges: +€4.2m
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
€15.8m
Turnover
+€17.7m
Other operating income
+€244,203
Services and other goods
-€7.0m
Staff costs
-€9.7m
Depreciation
-€610,366
Write-downs
+€360,333
Provisions
+€6.4m
Other operating charges
+€121,271
Other operating items
+€589,906
Financial income
-€1.1m
Financial charges
-€4.3m
Result 2025
€18.6m
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.
From operations
+€66.8m
Investment
-€50.7m
Financing
-€20.8m
Cash 2024
€6.6m
From operations (derived)
+€66.8m
Net result for the year
+€18.6m
Depreciation
+€15.8m
Receivables after one year
-€512,056
Receivables within one year
-€12.7m
Deferred charges and accrued income
+€34.4m
Provisions
-€3.1m
Trade debts
+€3.0m
Tax, wage and social debts
-€1.1m
Other debts
+€3.1m
Accrued charges and deferred income
+€9.3m
Investment (derived)
-€50.7m
Investment in fixed assets (net)
-€15.2m
Current investments
-€35.5m
Financing
-€20.8m
Debts after one year
-€15.9m
Current portion of long-term debt
-€5.0m
Contributions, distributions and other
+€97,557
Cash 2025
€1.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €537,773,443 | €546,703,311 | +€8.9m | +1.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €143,103,198 | €142,448,918 | -€654,280 | -0.5% |
| Intangible fixed assets | 21 | €72,006 | €32,344 | -€39,661 | -55.1% |
| Tangible fixed assets | 22/27 | €137,234,492 | €140,851,156 | +€3.6m | +2.6% |
| Land and buildings | 22 | €49,733,127 | €48,761,438 | -€971,689 | -2.0% |
| Plant, machinery and equipment | 23 | €51,367,869 | €48,337,523 | -€3.0m | -5.9% |
| Furniture and vehicles | 24 | €2,620,985 | €2,411,157 | -€209,828 | -8.0% |
| Other tangible fixed assets | 26 | €2,998,442 | €2,397,974 | -€600,468 | -20.0% |
| Assets under construction and advance payments | 27 | €30,514,069 | €38,943,064 | +€8.4m | +27.6% |
| Financial fixed assets | 28 | €5,796,700 | €1,565,417 | -€4.2m | -73.0% |
| Affiliated companies | 280/1 | €5,779,000 | €1,547,517 | -€4.2m | -73.2% |
| Participating interests | 280 | €5,779,000 | €1,547,517 | -€4.2m | -73.2% |
| Other financial fixed assets | 284/8 | €17,700 | €17,900 | +€200 | +1.1% |
| Amounts receivable and cash guarantees | 285/8 | €17,700 | €17,900 | +€200 | +1.1% |
| Current assets | 29/58 | €394,670,245 | €404,254,394 | +€9.6m | +2.4% |
| Amounts receivable after more than one year | 29 | €3,530,042 | €4,042,098 | +€512,056 | +14.5% |
| Other amounts receivable | 291 | €3,530,042 | €4,042,098 | +€512,056 | +14.5% |
| Amounts receivable within one year | 40/41 | €54,935,826 | €67,630,086 | +€12.7m | +23.1% |
| Trade receivables | 40 | €12,158,824 | €18,412,510 | +€6.3m | +51.4% |
| Other amounts receivable | 41 | €42,777,002 | €49,217,575 | +€6.4m | +15.1% |
| Current investments | 50/53 | €110,021,091 | €145,521,365 | +€35.5m | +32.3% |
| Other investments | 51/53 | €110,021,091 | €145,521,365 | +€35.5m | +32.3% |
| Cash at bank and in hand | 54/58 | €6,627,241 | €1,879,010 | -€4.7m | -71.6% |
| Deferred charges and accrued income | 490/1 | €219,556,045 | €185,181,835 | -€34.4m | -15.7% |
| Total equity and liabilities | 10/49 | €537,773,443 | €546,703,311 | +€8.9m | +1.7% |
| Equity | 10/15 | €308,819,414 | €327,517,497 | +€18.7m | +6.1% |
| Contributions | 10/11 | €170,000,000 | €170,000,000 | = | 0.0% |
| Capital | 10 | €170,000,000 | €170,000,000 | = | 0.0% |
| Issued capital | 100 | €170,000,000 | €170,000,000 | = | 0.0% |
| Reserves | 13 | €135,922,412 | €154,522,938 | +€18.6m | +13.7% |
| Non-distributable reserves | 130/1 | €17,000,000 | €17,000,000 | = | 0.0% |
| Legal reserve | 130 | €17,000,000 | €17,000,000 | = | 0.0% |
| Distributable reserves | 133 | €118,922,412 | €137,522,938 | +€18.6m | +15.6% |
| Investment grants | 15 | €2,897,002 | €2,994,559 | +€97,557 | +3.4% |
| Provisions and deferred taxes | 16 | €24,240,139 | €21,102,421 | -€3.1m | -12.9% |
| Provisions for liabilities and charges | 160/5 | €24,240,139 | €21,102,421 | -€3.1m | -12.9% |
| Pensions and similar obligations | 160 | €4,217,045 | €4,726,586 | +€509,541 | +12.1% |
| Major repairs and maintenance | 162 | €15,456,654 | €11,671,119 | -€3.8m | -24.5% |
| Other liabilities and charges | 164/5 | €4,566,441 | €4,704,716 | +€138,275 | +3.0% |
| Amounts payable | 17/49 | €204,713,890 | €198,083,394 | -€6.6m | -3.2% |
| Amounts payable after more than one year | 17 | €82,150,507 | €66,229,908 | -€15.9m | -19.4% |
| Financial debts | 170/4 | €81,140,915 | €65,451,162 | -€15.7m | -19.3% |
| Other loans | 174 | €81,140,915 | €65,451,162 | -€15.7m | -19.3% |
| Other amounts payable | 178/9 | €1,009,591 | €778,746 | -€230,845 | -22.9% |
| Amounts payable within one year | 42/48 | €88,518,639 | €88,494,519 | -€24,119 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €20,700,000 | €15,700,000 | -€5.0m | -24.2% |
| Trade debts | 44 | €35,861,767 | €38,865,235 | +€3.0m | +8.4% |
| Suppliers | 440/4 | €35,861,767 | €38,865,235 | +€3.0m | +8.4% |
| Taxes, remuneration and social security | 45 | €30,525,645 | €29,398,757 | -€1.1m | -3.7% |
| Taxes | 450/3 | €6,848,278 | €6,999,091 | +€150,814 | +2.2% |
| Remuneration and social security | 454/9 | €23,677,367 | €22,399,666 | -€1.3m | -5.4% |
| Other amounts payable | 47/48 | €1,431,227 | €4,530,527 | +€3.1m | +216.5% |
| Accrued charges and deferred income | 492/3 | €34,044,745 | €43,358,966 | +€9.3m | +27.4% |
| Operating income | 70/76A | €341,303,849 | €359,021,643 | +€17.7m | +5.2% |
| Turnover | 70 | €335,191,054 | €352,850,957 | +€17.7m | +5.3% |
| Other operating income | 74 | €5,507,143 | €5,751,346 | +€244,203 | +4.4% |
| Non-recurring operating income | 76A | €605,652 | €419,339 | -€186,313 | -30.8% |
| Operating charges | 60/66A | €328,940,270 | €338,555,173 | +€9.6m | +2.9% |
| Services and other goods | 61 | €122,178,894 | €129,170,688 | +€7.0m | +5.7% |
| Remuneration, social security and pensions | 62 | €182,782,571 | €192,473,156 | +€9.7m | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,235,795 | €15,846,161 | +€610,366 | +4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€163,678 | -€524,012 | -€360,333 | -220.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,282,561 | -€3,137,458 | -€6.4m | |
| Other operating charges | 640/8 | €4,520,942 | €4,399,671 | -€121,271 | -2.7% |
| Non-recurring operating charges | 66A | €1,103,186 | €326,967 | -€776,219 | -70.4% |
| Operating profit (loss) | 9901 | €12,363,579 | €20,466,469 | +€8.1m | +65.5% |
| Financial income | 75/76B | €3,626,886 | €2,565,969 | -€1.1m | -29.3% |
| Recurring financial income | 75 | €3,626,886 | €2,565,969 | -€1.1m | -29.3% |
| Income from current assets | 751 | €181 | €100,651 | +€100,469 | +55382.5% |
| Other financial income | 752/9 | €3,626,705 | €2,465,318 | -€1.2m | -32.0% |
| Financial charges | 65/66B | €157,980 | €4,431,912 | +€4.3m | +2705.4% |
| Recurring financial charges | 65 | €157,980 | €200,429 | +€42,449 | +26.9% |
| Debt charges | 650 | €103,784 | €127,337 | +€23,553 | +22.7% |
| Other financial charges | 652/9 | €54,196 | €73,092 | +€18,896 | +34.9% |
| Non-recurring financial charges | 66B | - | €4,231,483 | +€4.2m | |
| Profit (loss) for the period before taxes | 9903 | €15,832,485 | €18,600,526 | +€2.8m | +17.5% |
| Profit (loss) for the period | 9904 | €15,832,485 | €18,600,526 | +€2.8m | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,832,485 | €18,600,526 | +€2.8m | +17.5% |
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 9 October 2026 via checked.be.