TOP 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.
TOP LOGISTICS
Largest movements
- Financial fixed assets +€50,000
up €50,000 (+10.0%), from €501,620 to €551,620
- Tangible fixed assets -€43,405
down €43,405 (-23.9%), from €181,954 to €138,549
of which Furniture and vehicles: -€43,302
- Cash -€23,557
down €23,557 (-10.2%), from €230,037 to €206,481
mainly Investment in fixed assets (net) (-€83,475) and Tax, wage and social debts (-€43,675)
- Receivables within one year -€16,300
down €16,300 (-13.6%), from €119,449 to €103,149
of which Trade receivables: -€15,351
- Tax, wage and social debts -€43,675
down €43,675 (-17.6%), from €248,238 to €204,563
of which Remuneration and social security: -€40,001
- Trade debts -€14,913
down €14,913 (-68.6%), from €21,746 to €6,833
- Profit (loss) carried forward +€11,232
up €11,232 (+2.1%), from €533,505 to €544,736
- Gross operating margin -€300,310
down €300,310 (-19.5%), from €1.5m to €1.2m
- Staff costs -€297,598
down €297,598 (-20.8%), from €1.4m to €1.1m
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.
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 | €1,039,629 | €1,001,103 | -€38,526 | -3.7% |
| Fixed assets | 21/28 | €683,574 | €690,169 | +€6,595 | +1.0% |
| Tangible fixed assets | 22/27 | €181,954 | €138,549 | -€43,405 | -23.9% |
| Plant, machinery and equipment | 23 | €906 | €803 | -€103 | -11.4% |
| Furniture and vehicles | 24 | €181,048 | €137,746 | -€43,302 | -23.9% |
| Financial fixed assets | 28 | €501,620 | €551,620 | +€50,000 | +10.0% |
| Current assets | 29/58 | €356,055 | €310,934 | -€45,121 | -12.7% |
| Amounts receivable within one year | 40/41 | €119,449 | €103,149 | -€16,300 | -13.6% |
| Trade receivables | 40 | €116,436 | €101,085 | -€15,351 | -13.2% |
| Other amounts receivable | 41 | €3,013 | €2,063 | -€950 | -31.5% |
| Cash at bank and in hand | 54/58 | €230,037 | €206,481 | -€23,557 | -10.2% |
| Deferred charges and accrued income | 490/1 | €6,568 | €1,305 | -€5,264 | -80.1% |
| Total equity and liabilities | 10/49 | €1,039,629 | €1,001,103 | -€38,526 | -3.7% |
| Equity | 10/15 | €767,101 | €780,722 | +€13,621 | +1.8% |
| Contributions | 10/11 | €185,000 | €185,000 | = | 0.0% |
| Capital | 10 | €185,000 | €185,000 | = | 0.0% |
| Issued capital | 100 | €185,000 | €185,000 | = | 0.0% |
| Reserves | 13 | €48,597 | €50,986 | +€2,389 | +4.9% |
| Non-distributable reserves | 130/1 | €18,500 | €18,500 | = | 0.0% |
| Legal reserve | 130 | €18,500 | €18,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,097 | €32,486 | +€2,389 | +7.9% |
| Profit (loss) carried forward | 14 | €533,505 | €544,736 | +€11,232 | +2.1% |
| Provisions and deferred taxes | 16 | €2,500 | €3,296 | +€796 | +31.9% |
| Deferred taxes | 168 | €2,500 | €3,296 | +€796 | +31.9% |
| Amounts payable | 17/49 | €270,028 | €217,084 | -€52,944 | -19.6% |
| Amounts payable within one year | 42/48 | €269,983 | €211,396 | -€58,587 | -21.7% |
| Trade debts | 44 | €21,746 | €6,833 | -€14,913 | -68.6% |
| Suppliers | 440/4 | €21,746 | €6,833 | -€14,913 | -68.6% |
| Taxes, remuneration and social security | 45 | €248,238 | €204,563 | -€43,675 | -17.6% |
| Taxes | 450/3 | €9,863 | €6,189 | -€3,673 | -37.2% |
| Remuneration and social security | 454/9 | €238,375 | €198,373 | -€40,001 | -16.8% |
| Accrued charges and deferred income | 492/3 | €44 | €5,688 | +€5,644 | +12711.2% |
| Non-recurring operating income | 76A | €10,000 | €6,000 | -€4,000 | -40.0% |
| Remuneration, social security and pensions | 62 | €1,431,766 | €1,134,169 | -€297,598 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,762 | €76,880 | +€3,118 | +4.2% |
| Other operating charges | 640/8 | €9,810 | €9,340 | -€470 | -4.8% |
| Gross operating margin | 9900 | €1,543,094 | €1,242,784 | -€300,310 | -19.5% |
| Operating profit (loss) | 9901 | €27,755 | €22,395 | -€5,360 | -19.3% |
| Financial income | 75/76B | €300 | €0 | -€300 | -100.0% |
| Recurring financial income | 75 | €300 | €0 | -€300 | -100.0% |
| Financial charges | 65/66B | €2,892 | €3,681 | +€789 | +27.3% |
| Recurring financial charges | 65 | €2,892 | €3,681 | +€789 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €25,163 | €18,714 | -€6,450 | -25.6% |
| Transfer from deferred taxes | 780 | - | €704 | +€704 | |
| Transfer to deferred taxes | 680 | €2,500 | €1,500 | -€1,000 | -40.0% |
| Income taxes | 67/77 | €4,699 | €4,296 | -€403 | -8.6% |
| Profit (loss) for the period | 9904 | €17,964 | €13,621 | -€4,343 | -24.2% |
| Transfer from tax-exempt reserves | 789 | - | €2,111 | +€2,111 | |
| Transfer to tax-exempt reserves | 689 | €7,500 | €4,500 | -€3,000 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,464 | €11,232 | +€768 | +7.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.