WEST 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.
What changed
WEST LOGISTICS
NACE 52.241, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €574,422+€678,099
Equity
€30.3m
2024 · €29.6m+€706,820
Cash
€0
2024 · €0
Balance sheet total
€30.4m
2024 · €29.7m+€654,301
Largest movements
Assets
- Receivables within one year +€2.0m
up €2.0m (+70.4%), from €2.8m to €4.8m
of which Other amounts receivable: +€2.0m
- Financial fixed assets -€1.3m
down €1.3m (-4.9%), from €26.9m to €25.6m
Equity and liabilities
- Reserves +€706,820
up €706,820 (+90.1%), from €784,097 to €1.5m
of which Distributable reserves: +€644,194
Income statement
- Staff costs -€1.9m
down €1.9m (-99.8%), from €1.9m to €4,362
- Gross operating margin -€799,593
down €799,593 (-39.4%), from €2.0m to €1.2m
- Financial charges +€455,280
up €455,280 (+22,378%), from €2,034 to €457,314
of which Non-recurring financial charges: +€457,209
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
€574,422
Gross operating margin
-€799,593
Staff costs
+€1.9m
Depreciation
+€5,280
Other operating charges
+€6,438
Financial income
-€17,032
Financial charges
-€455,280
Taxes
+€60
Result 2025
€1.3m
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
-€770,951
Investment
+€1.3m
Financing
-€545,702
Cash 2024
€0
From operations (derived)
-€770,951
Net result for the year
+€1.3m
Depreciation
+€311
Receivables within one year
-€2.0m
Deferred charges and accrued income
+€9,398
Trade debts
+€10,964
Tax, wage and social debts
-€62,881
Accrued charges and deferred income
-€602
Investment (derived)
+€1.3m
Investment in fixed assets (net)
+€1.3m
Financing
-€545,702
Contributions, distributions and other
-€545,702
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,697,027 | €30,351,328 | +€654,301 | +2.2% |
| Fixed assets | 21/28 | €26,868,532 | €25,551,568 | -€1.3m | -4.9% |
| Tangible fixed assets | 22/27 | €311 | €0 | -€311 | -100% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €311 | €0 | -€311 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €26,868,221 | €25,551,568 | -€1.3m | -4.9% |
| Current assets | 29/58 | €2,828,495 | €4,799,760 | +€2.0m | +69.7% |
| Amounts receivable within one year | 40/41 | €2,811,516 | €4,792,179 | +€2.0m | +70.4% |
| Trade receivables | 40 | €25,305 | €17,550 | -€7,755 | -30.6% |
| Other amounts receivable | 41 | €2,786,211 | €4,774,630 | +€2.0m | +71.4% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €16,979 | €7,581 | -€9,398 | -55.4% |
| Total equity and liabilities | 10/49 | €29,697,027 | €30,351,328 | +€654,301 | +2.2% |
| Equity | 10/15 | €29,586,684 | €30,293,503 | +€706,820 | +2.4% |
| Contributions | 10/11 | €28,802,587 | €28,802,587 | = | 0.0% |
| Capital | 10 | €28,802,587 | €28,802,587 | = | 0.0% |
| Issued capital | 100 | €28,802,587 | €28,802,587 | = | 0.0% |
| Reserves | 13 | €784,097 | €1,490,917 | +€706,820 | +90.1% |
| Non-distributable reserves | 130/1 | €82,993 | €145,619 | +€62,626 | +75.5% |
| Legal reserve | 130 | €82,993 | €145,619 | +€62,626 | +75.5% |
| Tax-exempt reserves | 132 | €155,402 | €155,402 | = | 0.0% |
| Distributable reserves | 133 | €545,702 | €1,189,895 | +€644,194 | +118% |
| Amounts payable | 17/49 | €110,344 | €57,825 | -€52,518 | -47.6% |
| Amounts payable within one year | 42/48 | €109,742 | €57,825 | -€51,917 | -47.3% |
| Trade debts | 44 | €46,861 | €57,825 | +€10,964 | +23.4% |
| Suppliers | 440/4 | €46,861 | €57,825 | +€10,964 | +23.4% |
| Taxes, remuneration and social security | 45 | €62,881 | - | -€62,881 | |
| Taxes | 450/3 | €3,321 | - | -€3,321 | |
| Remuneration and social security | 454/9 | €59,560 | - | -€59,560 | |
| Accrued charges and deferred income | 492/3 | €602 | - | -€602 | |
| Non-recurring operating income | 76A | €35,955 | €383,575 | +€347,619 | +967% |
| Remuneration, social security and pensions | 62 | €1,942,588 | €4,362 | -€1.9m | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,590 | €311 | -€5,280 | -94.4% |
| Other operating charges | 640/8 | €37,646 | €31,208 | -€6,438 | -17.1% |
| Gross operating margin | 9900 | €2,029,158 | €1,229,564 | -€799,593 | -39.4% |
| Operating profit (loss) | 9901 | €43,334 | €1,193,684 | +€1.2m | +2,655% |
| Financial income | 75/76B | €533,184 | €516,152 | -€17,032 | -3.2% |
| Recurring financial income | 75 | €533,184 | €516,152 | -€17,032 | -3.2% |
| Financial charges | 65/66B | €2,034 | €457,314 | +€455,280 | +22,378% |
| Recurring financial charges | 65 | €2,034 | €105 | -€1,930 | -94.8% |
| Non-recurring financial charges | 66B | - | €457,209 | +€457,209 | |
| Profit (loss) for the period before taxes | 9903 | €574,483 | €1,252,521 | +€678,039 | +118% |
| Income taxes | 67/77 | €60 | - | -€60 | |
| Profit (loss) for the period | 9904 | €574,422 | €1,252,521 | +€678,099 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €574,422 | €1,252,521 | +€678,099 | +118% |
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.