T-MAX FREIGHT: 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-MAX FREIGHT
Largest movements
- Tangible fixed assets -€37,158
down €37,158 (-20.8%), from €178,522 to €141,364
of which Leasing and similar rights: -€36,160
- Receivables within one year +€31,618
up €31,618 (+117.0%), from €27,028 to €58,646
of which Trade receivables: +€26,920
- Cash -€2,667
down €2,667 (-13.5%), from €19,723 to €17,056
mainly Receivables within one year (-€31,618) and Debts after one year (-€17,688)
- Debts after one year -€17,688
down €17,688 (-11.7%), from €151,364 to €133,676
- Profit (loss) carried forward +€13,079
up €13,079 (+50.3%), from €25,977 to €39,056
- Current portion of long-term debt -€4,455
down €4,455 (-14.9%), from €29,991 to €25,536
- Tax, wage and social debts +€4,078
up €4,078 (+30.2%), from €13,505 to €17,583
of which Remuneration and social security: +€6,590
- Other debts -€2,482
down €2,482 (-32.1%), from €7,734 to €5,252
- Gross operating margin +€41,447
up €41,447 (+127.6%), from €32,485 to €73,932
- Depreciation +€23,536
up €23,536 (+177.4%), from €13,270 to €36,806
- Staff costs +€13,782
up €13,782 (+21875.6%), from €63 to €13,845
- Financial charges +€1,367
up €1,367 (+50.7%), from €2,697 to €4,064
- Other operating charges -€1,293
down €1,293 (-40.6%), from €3,181 to €1,888
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,956 | €233,431 | -€6,525 | -2.7% |
| Fixed assets | 21/28 | €190,322 | €155,164 | -€35,158 | -18.5% |
| Tangible fixed assets | 22/27 | €178,522 | €141,364 | -€37,158 | -20.8% |
| Furniture and vehicles | 24 | €1,754 | €756 | -€998 | -56.9% |
| Leasing and similar rights | 25 | €176,768 | €140,608 | -€36,160 | -20.5% |
| Financial fixed assets | 28 | €11,800 | €13,800 | +€2,000 | +16.9% |
| Current assets | 29/58 | €49,634 | €78,266 | +€28,632 | +57.7% |
| Amounts receivable within one year | 40/41 | €27,028 | €58,646 | +€31,618 | +117.0% |
| Trade receivables | 40 | €27,028 | €53,948 | +€26,920 | +99.6% |
| Other amounts receivable | 41 | - | €4,698 | +€4,698 | |
| Cash at bank and in hand | 54/58 | €19,723 | €17,056 | -€2,667 | -13.5% |
| Deferred charges and accrued income | 490/1 | €2,883 | €2,564 | -€319 | -11.0% |
| Total equity and liabilities | 10/49 | €239,956 | €233,431 | -€6,525 | -2.7% |
| Equity | 10/15 | €30,977 | €44,056 | +€13,079 | +42.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,977 | €39,056 | +€13,079 | +50.3% |
| Amounts payable | 17/49 | €208,979 | €189,375 | -€19,604 | -9.4% |
| Amounts payable after more than one year | 17 | €151,364 | €133,676 | -€17,688 | -11.7% |
| Financial debts | 170/4 | €151,364 | €133,676 | -€17,688 | -11.7% |
| Amounts payable within one year | 42/48 | €57,615 | €55,699 | -€1,916 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €29,991 | €25,536 | -€4,455 | -14.9% |
| Trade debts | 44 | €6,385 | €7,327 | +€942 | +14.8% |
| Suppliers | 440/4 | €6,385 | €7,327 | +€942 | +14.8% |
| Taxes, remuneration and social security | 45 | €13,505 | €17,583 | +€4,078 | +30.2% |
| Taxes | 450/3 | €13,505 | €10,993 | -€2,512 | -18.6% |
| Remuneration and social security | 454/9 | - | €6,590 | +€6,590 | |
| Other amounts payable | 47/48 | €7,734 | €5,252 | -€2,482 | -32.1% |
| Remuneration, social security and pensions | 62 | €63 | €13,845 | +€13,782 | +21875.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,270 | €36,806 | +€23,536 | +177.4% |
| Other operating charges | 640/8 | €3,181 | €1,888 | -€1,293 | -40.6% |
| Gross operating margin | 9900 | €32,485 | €73,932 | +€41,447 | +127.6% |
| Operating profit (loss) | 9901 | €15,971 | €21,393 | +€5,422 | +33.9% |
| Financial income | 75/76B | €3 | €1 | -€2 | -68.0% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -68.0% |
| Financial charges | 65/66B | €2,697 | €4,064 | +€1,367 | +50.7% |
| Recurring financial charges | 65 | €2,697 | €4,064 | +€1,367 | +50.7% |
| Profit (loss) for the period before taxes | 9903 | €13,277 | €17,331 | +€4,054 | +30.5% |
| Income taxes | 67/77 | €3,499 | €4,252 | +€753 | +21.5% |
| Profit (loss) for the period | 9904 | €9,778 | €13,079 | +€3,301 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,778 | €13,079 | +€3,301 | +33.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.