TEAM 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.
TEAM EXPRESS
Largest movements
- Receivables within one year +€408,906
up €408,906 (+31.0%), from €1.3m to €1.7m
of which Trade receivables: +€269,870
- Cash -€243,779
down €243,779 (-48.6%), from €501,708 to €257,929
mainly Contributions, distributions and other (-€840,000) and Receivables within one year (-€408,906)
- Tangible fixed assets +€157,666
up €157,666 (+26.4%), from €598,258 to €755,924
of which Leasing and similar rights: +€164,122
- Other debts +€401,997
up €401,997 (+91.5%), from €439,134 to €841,131
- Trade debts -€172,563
down €172,563 (-19.0%), from €907,876 to €735,313
- Debts after one year +€53,555
up €53,555 (+12.7%), from €420,788 to €474,343
- Current portion of long-term debt +€44,421
up €44,421 (+19.5%), from €227,765 to €272,186
- Gross operating margin +€402,338
up €402,338 (+39.3%), from €1.0m to €1.4m
- Other operating charges +€56,391
up €56,391 (+69.2%), from €81,477 to €137,868
- Staff costs +€20,196
up €20,196 (+9.7%), from €208,297 to €228,493
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 | €2,487,874 | €2,809,326 | +€321,452 | +12.9% |
| Fixed assets | 21/28 | €623,620 | €786,286 | +€162,666 | +26.1% |
| Tangible fixed assets | 22/27 | €598,258 | €755,924 | +€157,666 | +26.4% |
| Plant, machinery and equipment | 23 | €760 | €455 | -€304 | -40.0% |
| Furniture and vehicles | 24 | €32,593 | €27,188 | -€5,405 | -16.6% |
| Leasing and similar rights | 25 | €563,106 | €727,228 | +€164,122 | +29.1% |
| Other tangible fixed assets | 26 | €1,800 | €1,054 | -€747 | -41.5% |
| Financial fixed assets | 28 | €25,362 | €30,362 | +€5,000 | +19.7% |
| Current assets | 29/58 | €1,864,254 | €2,023,040 | +€158,786 | +8.5% |
| Amounts receivable within one year | 40/41 | €1,320,172 | €1,729,078 | +€408,906 | +31.0% |
| Trade receivables | 40 | €828,535 | €1,098,405 | +€269,870 | +32.6% |
| Other amounts receivable | 41 | €491,637 | €630,673 | +€139,036 | +28.3% |
| Cash at bank and in hand | 54/58 | €501,708 | €257,929 | -€243,779 | -48.6% |
| Deferred charges and accrued income | 490/1 | €42,374 | €36,032 | -€6,341 | -15.0% |
| Total equity and liabilities | 10/49 | €2,487,874 | €2,809,326 | +€321,452 | +12.9% |
| Equity | 10/15 | €464,990 | €470,190 | +€5,199 | +1.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | - | €20,460 | +€20,460 | |
| Share premium | 1100/10 | - | €20,460 | +€20,460 | |
| Profit (loss) carried forward | 14 | €444,530 | €449,730 | +€5,199 | +1.2% |
| Amounts payable | 17/49 | €2,022,884 | €2,339,136 | +€316,252 | +15.6% |
| Amounts payable after more than one year | 17 | €420,788 | €474,343 | +€53,555 | +12.7% |
| Financial debts | 170/4 | €420,788 | €474,343 | +€53,555 | +12.7% |
| Amounts payable within one year | 42/48 | €1,602,096 | €1,864,793 | +€262,697 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €227,765 | €272,186 | +€44,421 | +19.5% |
| Trade debts | 44 | €907,876 | €735,313 | -€172,563 | -19.0% |
| Suppliers | 440/4 | €907,876 | €735,313 | -€172,563 | -19.0% |
| Taxes, remuneration and social security | 45 | €27,320 | €16,163 | -€11,157 | -40.8% |
| Taxes | 450/3 | - | €0 | +€0 | |
| Remuneration and social security | 454/9 | €27,320 | €16,163 | -€11,157 | -40.8% |
| Other amounts payable | 47/48 | €439,134 | €841,131 | +€401,997 | +91.5% |
| Non-recurring operating income | 76A | €4,055 | - | -€4,055 | |
| Remuneration, social security and pensions | 62 | €208,297 | €228,493 | +€20,196 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,226 | €132,695 | -€8,531 | -6.0% |
| Other operating charges | 640/8 | €81,477 | €137,868 | +€56,391 | +69.2% |
| Non-recurring operating charges | 66A | €30,205 | €20,955 | -€9,249 | -30.6% |
| Gross operating margin | 9900 | €1,023,110 | €1,425,448 | +€402,338 | +39.3% |
| Operating profit (loss) | 9901 | €561,905 | €905,437 | +€343,532 | +61.1% |
| Financial income | 75/76B | €6,394 | €3,618 | -€2,776 | -43.4% |
| Recurring financial income | 75 | €6,394 | €3,618 | -€2,776 | -43.4% |
| Financial charges | 65/66B | €47,432 | €55,593 | +€8,160 | +17.2% |
| Recurring financial charges | 65 | €47,432 | €55,593 | +€8,160 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €520,867 | €853,463 | +€332,595 | +63.9% |
| Income taxes | 67/77 | €10,061 | €8,263 | -€1,798 | -17.9% |
| Profit (loss) for the period | 9904 | €510,806 | €845,199 | +€334,394 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €510,806 | €845,199 | +€334,394 | +65.5% |
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 19 October 2026 via checked.be.