TRANSPORT DECERF: 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.
What changed
TRANSPORT DECERF
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,476
2024 · €159,407-€143,931
Equity
€680,226
2024 · €664,750+€15,476
Cash
€215,882
2024 · €338,766-€122,884
Balance sheet total
€2.3m
2024 · €2.3m-€25,781
Largest movements
Assets
- Cash -€122,884
down €122,884 (-36.3%), from €338,766 to €215,882
mainly Investment in fixed assets (net) (-€332,949) and Other debts (-€65,554)
- Tangible fixed assets +€45,449
up €45,449 (+5.1%), from €899,224 to €944,673
of which Furniture and vehicles: +€91,470
- Deferred charges and accrued income +€40,448
up €40,448 (+691%), from €5,854 to €46,301
Equity and liabilities
- Other debts -€65,554
no longer reported in 2025 (was €65,554)
Income statement
- Staff costs +€181,923
up €181,923 (+22.8%), from €797,042 to €978,965
- Gross operating margin +€127,418
up €127,418 (+8.8%), from €1.5m to €1.6m
- Depreciation +€59,120
up €59,120 (+25.9%), from €228,380 to €287,500
- Other operating charges +€44,093
up €44,093 (+21.9%), from €201,494 to €245,587
- Taxes -€27,793
down €27,793 (-67.0%), from €41,475 to €13,682
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
€159,407
Gross operating margin
+€127,418
Staff costs
-€181,923
Depreciation
-€59,120
Write-downs
+€8,710
Provisions
-€20,000
Other operating charges
-€44,093
Financial income
+€5,167
Financial charges
-€7,883
Taxes
+€27,793
Result 2025
€15,476
raises the resultlowers the result
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.
From operations
+€215,241
Investment
-€332,949
Financing
-€5,176
Cash 2024
€338,766
From operations (derived)
+€215,241
Net result for the year
+€15,476
Depreciation
+€287,500
Receivables within one year
-€11,206
Deferred charges and accrued income
-€40,448
Provisions
+€20,000
Trade debts
+€7,816
Tax, wage and social debts
-€6,580
Advances received
+€714
Other debts
-€65,554
Accrued charges and deferred income
+€7,523
Investment (derived)
-€332,949
Investment in fixed assets (net)
-€332,949
Financing
-€5,176
Debts after one year
-€11,617
Current portion of long-term debt
+€6,441
Cash 2025
€215,882
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,321,609 | €2,295,828 | -€25,781 | -1.1% |
| Fixed assets | 21/28 | €901,804 | €947,253 | +€45,449 | +5.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €899,224 | €944,673 | +€45,449 | +5.1% |
| Plant, machinery and equipment | 23 | €40,020 | €28,875 | -€11,145 | -27.8% |
| Furniture and vehicles | 24 | €237,968 | €329,439 | +€91,470 | +38.4% |
| Leasing and similar rights | 25 | €617,234 | €578,798 | -€38,437 | -6.2% |
| Other tangible fixed assets | 26 | €4,002 | €7,562 | +€3,560 | +88.9% |
| Financial fixed assets | 28 | €2,580 | €2,580 | = | 0.0% |
| Current assets | 29/58 | €1,419,804 | €1,348,574 | -€71,230 | -5.0% |
| Amounts receivable within one year | 40/41 | €1,075,185 | €1,086,391 | +€11,206 | +1.0% |
| Trade receivables | 40 | €1,000,154 | €1,008,548 | +€8,394 | +0.8% |
| Other amounts receivable | 41 | €75,030 | €77,843 | +€2,813 | +3.7% |
| Cash at bank and in hand | 54/58 | €338,766 | €215,882 | -€122,884 | -36.3% |
| Deferred charges and accrued income | 490/1 | €5,854 | €46,301 | +€40,448 | +691% |
| Total equity and liabilities | 10/49 | €2,321,609 | €2,295,828 | -€25,781 | -1.1% |
| Equity | 10/15 | €664,750 | €680,226 | +€15,476 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €643,860 | €658,860 | +€15,000 | +2.3% |
| Tax-exempt reserves | 132 | €82,000 | €82,000 | = | 0.0% |
| Distributable reserves | 133 | €561,860 | €576,860 | +€15,000 | +2.7% |
| Profit (loss) carried forward | 14 | €2,290 | €2,766 | +€476 | +20.8% |
| Provisions and deferred taxes | 16 | - | €20,000 | +€20,000 | |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Other liabilities and charges | 164/5 | - | €20,000 | +€20,000 | |
| Amounts payable | 17/49 | €1,656,859 | €1,595,602 | -€61,257 | -3.7% |
| Amounts payable after more than one year | 17 | €430,504 | €418,887 | -€11,617 | -2.7% |
| Financial debts | 170/4 | €430,504 | €418,887 | -€11,617 | -2.7% |
| Amounts payable within one year | 42/48 | €1,222,767 | €1,165,604 | -€57,164 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €253,289 | €259,729 | +€6,441 | +2.5% |
| Trade debts | 44 | €729,120 | €736,935 | +€7,816 | +1.1% |
| Suppliers | 440/4 | €729,120 | €736,935 | +€7,816 | +1.1% |
| Advances received on contracts in progress | 46 | €4,265 | €4,979 | +€714 | +16.7% |
| Taxes, remuneration and social security | 45 | €170,540 | €163,960 | -€6,580 | -3.9% |
| Taxes | 450/3 | €56,221 | €35,838 | -€20,383 | -36.3% |
| Remuneration and social security | 454/9 | €114,319 | €128,123 | +€13,804 | +12.1% |
| Other amounts payable | 47/48 | €65,554 | - | -€65,554 | |
| Accrued charges and deferred income | 492/3 | €3,588 | €11,111 | +€7,523 | +210% |
| Remuneration, social security and pensions | 62 | €797,042 | €978,965 | +€181,923 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,380 | €287,500 | +€59,120 | +25.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€8,710 | -€8,710 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €201,494 | €245,587 | +€44,093 | +21.9% |
| Gross operating margin | 9900 | €1,452,718 | €1,580,136 | +€127,418 | +8.8% |
| Operating profit (loss) | 9901 | €225,802 | €56,794 | -€169,009 | -74.8% |
| Financial income | 75/76B | €2 | €5,169 | +€5,167 | +309,422% |
| Recurring financial income | 75 | €2 | €5,169 | +€5,167 | +309,422% |
| Financial charges | 65/66B | €24,922 | €32,805 | +€7,883 | +31.6% |
| Recurring financial charges | 65 | €24,922 | €32,805 | +€7,883 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | €200,882 | €29,158 | -€171,724 | -85.5% |
| Income taxes | 67/77 | €41,475 | €13,682 | -€27,793 | -67.0% |
| Profit (loss) for the period | 9904 | €159,407 | €15,476 | -€143,931 | -90.3% |
| Transfer to tax-exempt reserves | 689 | €28,000 | - | -€28,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €131,407 | €15,476 | -€115,931 | -88.2% |
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 30 October 2026 via checked.be.