TLD 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.
TLD LOGISTICS
Largest movements
- Receivables within one year +€125,266
up €125,266 (+220.2%), from €56,898 to €182,165
of which Trade receivables: +€108,661
- Tangible fixed assets +€28,623
new in 2025: €28,623
of which Plant, machinery and equipment: +€23,006
- Cash -€4,417
down €4,417 (-39.9%), from €11,081 to €6,664
mainly Receivables within one year (-€125,266) and Other debts (-€53,592)
- Trade debts +€86,665
up €86,665 (+1373.1%), from €6,312 to €92,976
- Tax, wage and social debts +€56,448
up €56,448 (+162.3%), from €34,773 to €91,220
of which Taxes: +€32,611
- Other debts -€53,592
no longer reported in 2025 (was €53,592)
- Profit (loss) carried forward +€43,268
up €43,268 (+91.8%), from -€47,148 to -€3,880
- Debts after one year +€11,312
new in 2025: €11,312
- Gross operating margin +€318,366
up €318,366 (+364.9%), from €87,259 to €405,625
- Staff costs +€231,604
up €231,604 (+304.4%), from €76,096 to €307,699
- Financial charges +€36,706
up €36,706 (+677.9%), from €5,414 to €42,120
of which Non-recurring financial charges: +€37,000
- Taxes +€7,989
new in 2025: €7,989
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,979 | €217,452 | +€149,472 | +219.9% |
| Fixed assets | 21/28 | - | €28,623 | +€28,623 | |
| Tangible fixed assets | 22/27 | - | €28,623 | +€28,623 | |
| Plant, machinery and equipment | 23 | - | €23,006 | +€23,006 | |
| Furniture and vehicles | 24 | - | €5,617 | +€5,617 | |
| Current assets | 29/58 | €67,979 | €188,829 | +€120,850 | +177.8% |
| Amounts receivable within one year | 40/41 | €56,898 | €182,165 | +€125,266 | +220.2% |
| Trade receivables | 40 | €27,739 | €136,400 | +€108,661 | +391.7% |
| Other amounts receivable | 41 | €29,159 | €45,765 | +€16,605 | +56.9% |
| Cash at bank and in hand | 54/58 | €11,081 | €6,664 | -€4,417 | -39.9% |
| Total equity and liabilities | 10/49 | €67,979 | €217,452 | +€149,472 | +219.9% |
| Equity | 10/15 | -€26,697 | €16,571 | +€43,268 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,148 | -€3,880 | +€43,268 | +91.8% |
| Amounts payable | 17/49 | €94,676 | €200,881 | +€106,205 | +112.2% |
| Amounts payable after more than one year | 17 | - | €11,312 | +€11,312 | |
| Financial debts | 170/4 | - | €11,312 | +€11,312 | |
| Amounts payable within one year | 42/48 | €94,676 | €189,569 | +€94,893 | +100.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,372 | +€5,372 | |
| Trade debts | 44 | €6,312 | €92,976 | +€86,665 | +1373.1% |
| Suppliers | 440/4 | €6,312 | €92,976 | +€86,665 | +1373.1% |
| Taxes, remuneration and social security | 45 | €34,773 | €91,220 | +€56,448 | +162.3% |
| Taxes | 450/3 | €20,626 | €53,237 | +€32,611 | +158.1% |
| Remuneration and social security | 454/9 | €14,146 | €37,983 | +€23,837 | +168.5% |
| Other amounts payable | 47/48 | €53,592 | - | -€53,592 | |
| Remuneration, social security and pensions | 62 | €76,096 | €307,699 | +€231,604 | +304.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,606 | €2,747 | +€141 | +5.4% |
| Other operating charges | 640/8 | €1,350 | €2,803 | +€1,453 | +107.7% |
| Gross operating margin | 9900 | €87,259 | €405,625 | +€318,366 | +364.9% |
| Operating profit (loss) | 9901 | €7,208 | €92,375 | +€85,167 | +1181.6% |
| Financial income | 75/76B | €4,644 | €1,002 | -€3,642 | -78.4% |
| Recurring financial income | 75 | €4,644 | €1,002 | -€3,642 | -78.4% |
| Financial charges | 65/66B | €5,414 | €42,120 | +€36,706 | +677.9% |
| Recurring financial charges | 65 | €5,414 | €5,120 | -€294 | -5.4% |
| Non-recurring financial charges | 66B | - | €37,000 | +€37,000 | |
| Profit (loss) for the period before taxes | 9903 | €6,437 | €51,257 | +€44,820 | +696.2% |
| Income taxes | 67/77 | - | €7,989 | +€7,989 | |
| Profit (loss) for the period | 9904 | €6,437 | €43,268 | +€36,830 | +572.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,437 | €43,268 | +€36,830 | +572.1% |
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 7 October 2026 via checked.be.