TDS LOGISTICS: what changed
Two fiscal 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
TDS LOGISTICS
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€518,872
2024 · €6,337+€512,534
Equity
€4.3m
2024 · €3.8m+€518,872
Cash
€868,578
2024 · €500,414+€368,164
Balance sheet total
€9.3m
2024 · €8.5m+€780,176
Largest movements
Assets
- Tangible fixed assets +€418,102
up €418,102 (+254.6%), from €164,192 to €582,294
of which Leasing and similar rights: +€468,616
- Cash +€368,164
up €368,164 (+73.6%), from €500,414 to €868,578
mainly Net result for the year (+€518,872) and Debts after one year (+€348,606)
Equity and liabilities
- Profit (loss) carried forward +€518,872
up €518,872 (+54.0%), from €961,063 to €1.5m
- Debts after one year +€348,606
new in 2025: €348,606
- Trade debts -€98,149
down €98,149 (-2.6%), from €3.7m to €3.6m
Income statement
- Turnover +€2.5m
up €2.5m (+7.1%), from €35.9m to €38.4m
- Goods and materials +€1.7m
up €1.7m (+9.1%), from €18.7m to €20.4m
of which Purchases: +€1.7m
- Services and other goods -€770,526
down €770,526 (-6.4%), from €12.1m to €11.3m
- Staff costs +€698,651
up €698,651 (+13.0%), from €5.4m to €6.1m
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
€6,337
Turnover
+€2.5m
Other operating income
-€136,271
Goods and materials
-€1.7m
Services and other goods
+€770,526
Staff costs
-€698,651
Depreciation
-€82,398
Write-downs
+€1,940
Provisions
-€75,000
Other operating charges
+€72,638
Other operating items
-€26,441
Financial income
-€73,193
Financial charges
+€2,277
Taxes
-€82,614
Result 2025
€518,872
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
+€624,299
Investment
-€615,526
Financing
+€359,390
Cash 2024
€500,414
From operations (derived)
+€624,299
Net result for the year
+€518,872
Depreciation
+€150,250
Stocks and contracts
+€10,986
Receivables within one year
+€42,689
Deferred charges and accrued income
-€411
Trade debts
-€98,149
Tax, wage and social debts
+€7,258
Accrued charges and deferred income
-€7,196
Investment (derived)
-€615,526
Investment in fixed assets (net)
-€615,526
Financing
+€359,390
Debts after one year
+€348,606
Current portion of long-term debt
-€14,308
Short-term financial debts
+€25,092
Cash 2025
€868,578
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,482,111 | €9,262,287 | +€780,176 | +9.2% |
| Fixed assets | 21/28 | €197,470 | €662,746 | +€465,276 | +235.6% |
| Intangible fixed assets | 21 | €7,218 | €3,958 | -€3,260 | -45.2% |
| Tangible fixed assets | 22/27 | €164,192 | €582,294 | +€418,102 | +254.6% |
| Plant, machinery and equipment | 23 | €44,347 | €25,423 | -€18,924 | -42.7% |
| Furniture and vehicles | 24 | €83,398 | €60,768 | -€22,630 | -27.1% |
| Leasing and similar rights | 25 | - | €468,616 | +€468,616 | |
| Other tangible fixed assets | 26 | €36,447 | €27,488 | -€8,959 | -24.6% |
| Financial fixed assets | 28 | €26,060 | €76,494 | +€50,434 | +193.5% |
| Other financial fixed assets | 284/8 | €26,060 | €76,494 | +€50,434 | +193.5% |
| Amounts receivable and cash guarantees | 285/8 | €26,060 | €76,494 | +€50,434 | +193.5% |
| Current assets | 29/58 | €8,284,641 | €8,599,541 | +€314,900 | +3.8% |
| Stocks and contracts in progress | 3 | €71,524 | €60,538 | -€10,986 | -15.4% |
| Stocks | 30/36 | €71,524 | €60,538 | -€10,986 | -15.4% |
| Raw materials and consumables | 30/31 | €71,524 | €60,538 | -€10,986 | -15.4% |
| Amounts receivable within one year | 40/41 | €7,665,739 | €7,623,051 | -€42,689 | -0.6% |
| Trade receivables | 40 | €7,212,658 | €7,196,171 | -€16,488 | -0.2% |
| Other amounts receivable | 41 | €453,081 | €426,880 | -€26,201 | -5.8% |
| Cash at bank and in hand | 54/58 | €500,414 | €868,578 | +€368,164 | +73.6% |
| Deferred charges and accrued income | 490/1 | €46,964 | €47,375 | +€411 | +0.9% |
| Total equity and liabilities | 10/49 | €8,482,111 | €9,262,287 | +€780,176 | +9.2% |
| Equity | 10/15 | €3,768,155 | €4,287,027 | +€518,872 | +13.8% |
| Contributions | 10/11 | €2,534,357 | €2,534,357 | = | 0.0% |
| Capital | 10 | €2,534,357 | €2,534,357 | = | 0.0% |
| Issued capital | 100 | €2,534,357 | €2,534,357 | = | 0.0% |
| Reserves | 13 | €272,736 | €272,736 | = | 0.0% |
| Non-distributable reserves | 130/1 | €253,436 | €253,436 | = | 0.0% |
| Legal reserve | 130 | €253,436 | €253,436 | = | 0.0% |
| Distributable reserves | 133 | €19,300 | €19,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €961,063 | €1,479,934 | +€518,872 | +54.0% |
| Amounts payable | 17/49 | €4,713,956 | €4,975,260 | +€261,304 | +5.5% |
| Amounts payable after more than one year | 17 | - | €348,606 | +€348,606 | |
| Financial debts | 170/4 | - | €348,606 | +€348,606 | |
| Leasing and similar obligations | 172 | - | €348,606 | +€348,606 | |
| Amounts payable within one year | 42/48 | €4,686,240 | €4,606,134 | -€80,106 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €135,254 | €120,946 | -€14,308 | -10.6% |
| Financial debts | 43 | - | €25,092 | +€25,092 | |
| Credit institutions | 430/8 | - | €25,092 | +€25,092 | |
| Trade debts | 44 | €3,718,361 | €3,620,212 | -€98,149 | -2.6% |
| Suppliers | 440/4 | €3,718,361 | €3,620,212 | -€98,149 | -2.6% |
| Taxes, remuneration and social security | 45 | €832,625 | €839,884 | +€7,258 | +0.9% |
| Taxes | 450/3 | €179,837 | €104,843 | -€74,994 | -41.7% |
| Remuneration and social security | 454/9 | €652,789 | €735,041 | +€82,252 | +12.6% |
| Accrued charges and deferred income | 492/3 | €27,716 | €20,520 | -€7,196 | -26.0% |
| Operating income | 70/76A | €36,468,785 | €38,850,987 | +€2.4m | +6.5% |
| Turnover | 70 | €35,904,963 | €38,449,878 | +€2.5m | +7.1% |
| Other operating income | 74 | €536,628 | €400,357 | -€136,271 | -25.4% |
| Non-recurring operating income | 76A | €27,194 | €753 | -€26,441 | -97.2% |
| Operating charges | 60/66A | €36,435,905 | €38,152,043 | +€1.7m | +4.7% |
| Goods for resale, raw materials and consumables | 60 | €18,682,822 | €20,388,015 | +€1.7m | +9.1% |
| Purchases | 600/8 | €18,689,572 | €20,377,029 | +€1.7m | +9.0% |
| Change in stocks: decrease (increase) | 609 | -€6,751 | €10,986 | +€17,737 | |
| Services and other goods | 61 | €12,116,153 | €11,345,627 | -€770,526 | -6.4% |
| Remuneration, social security and pensions | 62 | €5,367,127 | €6,065,779 | +€698,651 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,852 | €150,250 | +€82,398 | +121.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €148,031 | €146,091 | -€1,940 | -1.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€75,000 | €0 | +€75,000 | |
| Other operating charges | 640/8 | €128,920 | €56,282 | -€72,638 | -56.3% |
| Operating profit (loss) | 9901 | €32,881 | €698,945 | +€666,064 | +2025.7% |
| Financial income | 75/76B | €79,061 | €5,868 | -€73,193 | -92.6% |
| Recurring financial income | 75 | €79,061 | €5,868 | -€73,193 | -92.6% |
| Income from financial fixed assets | 750 | €53,820 | €0 | -€53,820 | -100.0% |
| Income from current assets | 751 | €19,085 | €79 | -€19,006 | -99.6% |
| Other financial income | 752/9 | €6,156 | €5,789 | -€367 | -6.0% |
| Financial charges | 65/66B | €49,282 | €47,004 | -€2,277 | -4.6% |
| Recurring financial charges | 65 | €49,282 | €47,004 | -€2,277 | -4.6% |
| Debt charges | 650 | €9,600 | €13,327 | +€3,727 | +38.8% |
| Other financial charges | 652/9 | €39,681 | €33,677 | -€6,004 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €62,661 | €657,809 | +€595,148 | +949.8% |
| Income taxes | 67/77 | €56,323 | €138,937 | +€82,614 | +146.7% |
| Taxes | 670/3 | €59,404 | €148,722 | +€89,318 | +150.4% |
| Tax adjustments and reversals of tax provisions | 77 | €3,081 | €9,785 | +€6,704 | +217.6% |
| Profit (loss) for the period | 9904 | €6,337 | €518,872 | +€512,534 | +8087.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,337 | €518,872 | +€512,534 | +8087.5% |
Source: filed annual accounts (NBB), fiscal 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.