T-LOGISTICS 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.
T-LOGISTICS SERVICES
Largest movements
- Receivables within one year -€116,731
down €116,731 (-13.2%), from €885,162 to €768,431
of which Trade receivables: -€99,871
- Receivables after one year +€104,770
up €104,770 (+16.5%), from €633,860 to €738,630
- Cash +€58,732
up €58,732 (+39.3%), from €149,504 to €208,236
mainly Receivables within one year (+€116,731) and Net result for the year (+€85,756)
- Tangible fixed assets -€36,667
down €36,667 (-100%), from €36,667 to €0
- Reserves +€474,121
up €474,121 (+51.3%), from €924,265 to €1.4m
of which Distributable reserves: +€501,015
- Profit (loss) carried forward -€388,365
down €388,365 (-100%), from €388,365 to €0
- Trade debts -€81,152
down €81,152 (-83.2%), from €97,582 to €16,430
- Tax, wage and social debts +€41,594
up €41,594 (+34.9%), from €119,262 to €160,855
of which Taxes: +€41,865
- Accrued charges and deferred income -€18,515
down €18,515 (-100%), from €18,515 to €0
- Taxes -€87,598
down €87,598 (-73.6%), from €118,990 to €31,392
- Services and other goods -€59,538
down €59,538 (-74.4%), from €79,974 to €20,436
- Goods and materials -€41,671
down €41,671 (-29.4%), from €141,617 to €99,946
- Turnover +€34,686
up €34,686 (+18.2%), from €190,946 to €225,631
- Depreciation -€19,250
down €19,250 (-100%), from €19,250 to €0
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 | €1,705,192 | €1,715,296 | +€10,104 | +0.6% |
| Fixed assets | 21/28 | €36,667 | €0 | -€36,667 | -100% |
| Tangible fixed assets | 22/27 | €36,667 | €0 | -€36,667 | -100% |
| Furniture and vehicles | 24 | €36,667 | €0 | -€36,667 | -100% |
| Current assets | 29/58 | €1,668,526 | €1,715,296 | +€46,770 | +2.8% |
| Amounts receivable after more than one year | 29 | €633,860 | €738,630 | +€104,770 | +16.5% |
| Other amounts receivable | 291 | €633,860 | €738,630 | +€104,770 | +16.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €885,162 | €768,431 | -€116,731 | -13.2% |
| Trade receivables | 40 | €365,536 | €265,665 | -€99,871 | -27.3% |
| Other amounts receivable | 41 | €519,626 | €502,766 | -€16,861 | -3.2% |
| Cash at bank and in hand | 54/58 | €149,504 | €208,236 | +€58,732 | +39.3% |
| Total equity and liabilities | 10/49 | €1,705,192 | €1,715,296 | +€10,104 | +0.6% |
| Equity | 10/15 | €1,374,630 | €1,460,386 | +€85,756 | +6.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €924,265 | €1,398,386 | +€474,121 | +51.3% |
| Non-distributable reserves | 130/1 | €33,094 | €6,200 | -€26,894 | -81.3% |
| Legal reserve | 130 | €33,094 | €6,200 | -€26,894 | -81.3% |
| Tax-exempt reserves | 132 | €232,875 | €232,875 | = | 0.0% |
| Distributable reserves | 133 | €658,296 | €1,159,311 | +€501,015 | +76.1% |
| Profit (loss) carried forward | 14 | €388,365 | €0 | -€388,365 | -100% |
| Provisions and deferred taxes | 16 | €77,625 | €77,625 | = | 0.0% |
| Deferred taxes | 168 | €77,625 | €77,625 | = | 0.0% |
| Amounts payable | 17/49 | €252,938 | €177,285 | -€75,652 | -29.9% |
| Amounts payable within one year | 42/48 | €234,423 | €177,285 | -€57,137 | -24.4% |
| Trade debts | 44 | €97,582 | €16,430 | -€81,152 | -83.2% |
| Suppliers | 440/4 | €97,582 | €16,430 | -€81,152 | -83.2% |
| Taxes, remuneration and social security | 45 | €119,262 | €160,855 | +€41,594 | +34.9% |
| Taxes | 450/3 | €118,990 | €160,855 | +€41,865 | +35.2% |
| Remuneration and social security | 454/9 | €272 | €0 | -€272 | -100% |
| Other amounts payable | 47/48 | €17,579 | €0 | -€17,579 | -100% |
| Accrued charges and deferred income | 492/3 | €18,515 | €0 | -€18,515 | -100% |
| Operating income | 70/76A | €1,072,443 | €237,265 | -€835,178 | -77.9% |
| Turnover | 70 | €190,946 | €225,631 | +€34,686 | +18.2% |
| Other operating income | 74 | €16 | €0 | -€16 | -100% |
| Non-recurring operating income | 76A | €881,481 | €11,633 | -€869,848 | -98.7% |
| Operating charges | 60/66A | €263,324 | €123,518 | -€139,806 | -53.1% |
| Goods for resale, raw materials and consumables | 60 | €141,617 | €99,946 | -€41,671 | -29.4% |
| Purchases | 600/8 | €141,617 | €99,946 | -€41,671 | -29.4% |
| Services and other goods | 61 | €79,974 | €20,436 | -€59,538 | -74.4% |
| Remuneration, social security and pensions | 62 | €13,841 | -€268 | -€14,109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,250 | €0 | -€19,250 | -100% |
| Other operating charges | 640/8 | €8,641 | €3,403 | -€5,238 | -60.6% |
| Operating profit (loss) | 9901 | €809,119 | €113,747 | -€695,372 | -85.9% |
| Financial income | 75/76B | €12,391 | €8,630 | -€3,762 | -30.4% |
| Recurring financial income | 75 | €12,391 | €8,630 | -€3,762 | -30.4% |
| Income from current assets | 751 | €9,900 | €8,630 | -€1,271 | -12.8% |
| Other financial income | 752/9 | €2,491 | €0 | -€2,491 | -100% |
| Financial charges | 65/66B | €3,656 | €5,228 | +€1,572 | +43.0% |
| Recurring financial charges | 65 | €3,656 | €5,228 | +€1,572 | +43.0% |
| Other financial charges | 652/9 | €3,656 | €5,228 | +€1,572 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €817,855 | €117,148 | -€700,706 | -85.7% |
| Transfer to deferred taxes | 680 | €77,625 | €0 | -€77,625 | -100% |
| Income taxes | 67/77 | €118,990 | €31,392 | -€87,598 | -73.6% |
| Taxes | 670/3 | €118,990 | €31,392 | -€87,598 | -73.6% |
| Profit (loss) for the period | 9904 | €621,240 | €85,756 | -€535,484 | -86.2% |
| Transfer to tax-exempt reserves | 689 | €232,875 | €0 | -€232,875 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €388,365 | €85,756 | -€302,609 | -77.9% |
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 18 October 2026 via checked.be.