T.FOOD EXPRESS: 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.
T.FOOD EXPRESS
Largest movements
- Receivables within one year +€123,042
up €123,042 (+277%), from €44,441 to €167,483
of which Trade receivables: +€132,582
- Cash +€56,146
up €56,146 (+12.2%), from €459,705 to €515,851
mainly Net result for the year (+€188,614) and Depreciation (+€64,271)
- Intangible fixed assets -€50,000
down €50,000 (-24.1%), from €207,650 to €157,650
- Profit (loss) carried forward +€187,781
up €187,781 (+102%), from €184,903 to €372,685
- Trade debts -€75,880
down €75,880 (-47.1%), from €161,059 to €85,180
- Other debts -€38,108
down €38,108 (-11.9%), from €320,881 to €282,773
- Tax, wage and social debts +€25,314
up €25,314 (+20.7%), from €122,227 to €147,541
of which Remuneration and social security: +€20,254
- Debts after one year +€15,501
new in 2025: €15,501
- Staff costs +€137,130
up €137,130 (+34.1%), from €401,615 to €538,745
- Gross operating margin +€116,368
up €116,368 (+15.2%), from €765,830 to €882,197
- Depreciation +€17,979
up €17,979 (+38.8%), from €46,292 to €64,271
- Financial charges +€14,802
up €14,802 (+90.3%), from €16,395 to €31,197
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 | €792,070 | €921,673 | +€129,603 | +16.4% |
| Fixed assets | 21/28 | €286,136 | €236,855 | -€49,281 | -17.2% |
| Intangible fixed assets | 21 | €207,650 | €157,650 | -€50,000 | -24.1% |
| Tangible fixed assets | 22/27 | €61,972 | €62,691 | +€719 | +1.2% |
| Land and buildings | 22 | €2,755 | €1,515 | -€1,240 | -45.0% |
| Plant, machinery and equipment | 23 | €12,660 | €24,380 | +€11,720 | +92.6% |
| Furniture and vehicles | 24 | €46,556 | €36,796 | -€9,760 | -21.0% |
| Financial fixed assets | 28 | €16,514 | €16,514 | = | 0.0% |
| Current assets | 29/58 | €505,935 | €684,818 | +€178,883 | +35.4% |
| Amounts receivable within one year | 40/41 | €44,441 | €167,483 | +€123,042 | +277% |
| Trade receivables | 40 | €34,662 | €167,243 | +€132,582 | +382% |
| Other amounts receivable | 41 | €9,779 | €240 | -€9,539 | -97.5% |
| Cash at bank and in hand | 54/58 | €459,705 | €515,851 | +€56,146 | +12.2% |
| Deferred charges and accrued income | 490/1 | €1,789 | €1,484 | -€305 | -17.1% |
| Total equity and liabilities | 10/49 | €792,070 | €921,673 | +€129,603 | +16.4% |
| Equity | 10/15 | €187,903 | €375,685 | +€187,781 | +99.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,903 | €372,685 | +€187,781 | +102% |
| Amounts payable | 17/49 | €604,167 | €545,989 | -€58,179 | -9.6% |
| Amounts payable after more than one year | 17 | - | €15,501 | +€15,501 | |
| Financial debts | 170/4 | - | €15,501 | +€15,501 | |
| Amounts payable within one year | 42/48 | €604,167 | €530,488 | -€73,679 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | - | €14,995 | +€14,995 | |
| Trade debts | 44 | €161,059 | €85,180 | -€75,880 | -47.1% |
| Suppliers | 440/4 | €161,059 | €85,180 | -€75,880 | -47.1% |
| Taxes, remuneration and social security | 45 | €122,227 | €147,541 | +€25,314 | +20.7% |
| Taxes | 450/3 | €62,854 | €67,914 | +€5,060 | +8.1% |
| Remuneration and social security | 454/9 | €59,373 | €79,627 | +€20,254 | +34.1% |
| Other amounts payable | 47/48 | €320,881 | €282,773 | -€38,108 | -11.9% |
| Non-recurring operating income | 76A | - | €3,095 | +€3,095 | |
| Remuneration, social security and pensions | 62 | €401,615 | €538,745 | +€137,130 | +34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,292 | €64,271 | +€17,979 | +38.8% |
| Other operating charges | 640/8 | €2,974 | €2,487 | -€486 | -16.4% |
| Gross operating margin | 9900 | €765,830 | €882,197 | +€116,368 | +15.2% |
| Operating profit (loss) | 9901 | €314,949 | €276,695 | -€38,255 | -12.1% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €16,395 | €31,197 | +€14,802 | +90.3% |
| Recurring financial charges | 65 | €16,395 | €31,197 | +€14,802 | +90.3% |
| Profit (loss) for the period before taxes | 9903 | €298,566 | €245,498 | -€53,069 | -17.8% |
| Income taxes | 67/77 | €54,441 | €56,883 | +€2,442 | +4.5% |
| Profit (loss) for the period | 9904 | €244,125 | €188,614 | -€55,511 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €244,125 | €188,614 | -€55,511 | -22.7% |
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 25 October 2026 via checked.be.