VERSTRAETE LOGISTICS: 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.
VERSTRAETE LOGISTICS
Largest movements
- Tangible fixed assets +€510,078
up €510,078 (+455%), from €112,054 to €622,131
of which Land and buildings: +€478,410
- Cash -€232,707
down €232,707 (-75.4%), from €308,753 to €76,046
mainly Investment in fixed assets (net) (-€571,820) and Contributions, distributions and other (-€111,457)
- Receivables within one year -€91,294
down €91,294 (-49.3%), from €185,076 to €93,782
of which Trade receivables: -€86,368
- Intangible fixed assets -€12,500
down €12,500 (-44.4%), from €28,125 to €15,625
- Debts after one year +€332,283
up €332,283 (+616%), from €53,905 to €386,188
- Reserves -€110,000
down €110,000 (-79.4%), from €138,524 to €28,524
of which Distributable reserves: -€110,000
- Trade debts -€34,221
down €34,221 (-49.8%), from €68,667 to €34,446
- Tax, wage and social debts -€27,687
down €27,687 (-39.7%), from €69,721 to €42,034
- Current portion of long-term debt +€25,744
up €25,744 (+105%), from €24,452 to €50,197
- Staff costs -€94,295
down €94,295 (-17.4%), from €540,577 to €446,282
- Gross operating margin -€68,589
down €68,589 (-11.2%), from €610,370 to €541,781
- Depreciation +€29,434
up €29,434 (+65.7%), from €44,808 to €74,242
- Other operating charges -€10,958
down €10,958 (-75.2%), from €14,572 to €3,613
- Financial charges +€9,507
up €9,507 (+140%), from €6,774 to €16,281
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 | €644,577 | €812,894 | +€168,317 | +26.1% |
| Fixed assets | 21/28 | €142,579 | €640,156 | +€497,578 | +349% |
| Intangible fixed assets | 21 | €28,125 | €15,625 | -€12,500 | -44.4% |
| Tangible fixed assets | 22/27 | €112,054 | €622,131 | +€510,078 | +455% |
| Land and buildings | 22 | - | €478,410 | +€478,410 | |
| Plant, machinery and equipment | 23 | €7,938 | €54,329 | +€46,390 | +584% |
| Furniture and vehicles | 24 | €104,115 | €89,393 | -€14,722 | -14.1% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €501,998 | €172,737 | -€329,261 | -65.6% |
| Stocks and contracts in progress | 3 | €5,500 | €2,908 | -€2,592 | -47.1% |
| Stocks | 30/36 | €5,500 | €2,908 | -€2,592 | -47.1% |
| Amounts receivable within one year | 40/41 | €185,076 | €93,782 | -€91,294 | -49.3% |
| Trade receivables | 40 | €177,634 | €91,266 | -€86,368 | -48.6% |
| Other amounts receivable | 41 | €7,443 | €2,516 | -€4,926 | -66.2% |
| Cash at bank and in hand | 54/58 | €308,753 | €76,046 | -€232,707 | -75.4% |
| Deferred charges and accrued income | 490/1 | €2,669 | - | -€2,669 | |
| Total equity and liabilities | 10/49 | €644,577 | €812,894 | +€168,317 | +26.1% |
| Equity | 10/15 | €240,272 | €130,178 | -€110,094 | -45.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €138,524 | €28,524 | -€110,000 | -79.4% |
| Non-distributable reserves | 130/1 | €1,524 | €1,524 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,524 | €1,524 | = | 0.0% |
| Distributable reserves | 133 | €137,000 | €27,000 | -€110,000 | -80.3% |
| Profit (loss) carried forward | 14 | €1,748 | €1,654 | -€94 | -5.3% |
| Amounts payable | 17/49 | €404,305 | €682,715 | +€278,410 | +68.9% |
| Amounts payable after more than one year | 17 | €53,905 | €386,188 | +€332,283 | +616% |
| Financial debts | 170/4 | €53,905 | €386,188 | +€332,283 | +616% |
| Amounts payable within one year | 42/48 | €350,190 | €296,527 | -€53,663 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €24,452 | €50,197 | +€25,744 | +105% |
| Trade debts | 44 | €68,667 | €34,446 | -€34,221 | -49.8% |
| Suppliers | 440/4 | €68,667 | €34,446 | -€34,221 | -49.8% |
| Taxes, remuneration and social security | 45 | €69,721 | €42,034 | -€27,687 | -39.7% |
| Taxes | 450/3 | €69,721 | €42,034 | -€27,687 | -39.7% |
| Other amounts payable | 47/48 | €187,350 | €169,850 | -€17,500 | -9.3% |
| Accrued charges and deferred income | 492/3 | €210 | - | -€210 | |
| Remuneration, social security and pensions | 62 | €540,577 | €446,282 | -€94,295 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,808 | €74,242 | +€29,434 | +65.7% |
| Other operating charges | 640/8 | €14,572 | €3,613 | -€10,958 | -75.2% |
| Gross operating margin | 9900 | €610,370 | €541,781 | -€68,589 | -11.2% |
| Operating profit (loss) | 9901 | €10,413 | €17,644 | +€7,231 | +69.4% |
| Financial charges | 65/66B | €6,774 | €16,281 | +€9,507 | +140% |
| Recurring financial charges | 65 | €6,774 | €16,281 | +€9,507 | +140% |
| Profit (loss) for the period before taxes | 9903 | €3,640 | €1,363 | -€2,276 | -62.5% |
| Income taxes | 67/77 | €2,183 | - | -€2,183 | |
| Profit (loss) for the period | 9904 | €1,457 | €1,363 | -€94 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,457 | €1,363 | -€94 | -6.4% |
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.