ZELCO 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.
ZELCO LOGISTICS
Largest movements
- Receivables within one year -€86,883
down €86,883 (-30.8%), from €281,858 to €194,976
of which Trade receivables: -€62,082
- Cash +€13,770
up €13,770 (+30.2%), from €45,600 to €59,371
mainly Receivables within one year (+€86,883) and Depreciation (+€37,333)
- Intangible fixed assets -€7,471
down €7,471 (-9.5%), from €78,688 to €71,217
- Stocks and contracts -€7,325
down €7,325 (-7.1%), from €103,825 to €96,500
of which Stocks: -€5,000
- Trade debts -€55,990
down €55,990 (-35.8%), from €156,245 to €100,255
- Tax, wage and social debts -€22,262
down €22,262 (-30.1%), from €74,051 to €51,789
of which Taxes: -€17,661
- Debts after one year -€10,281
down €10,281 (-39.9%), from €25,793 to €15,512
- Other debts -€8,712
down €8,712 (-7.3%), from €119,875 to €111,163
- Gross operating margin -€69,352
down €69,352 (-19.4%), from €358,099 to €288,747
- Staff costs -€26,339
down €26,339 (-9.9%), from €267,320 to €240,981
- Taxes -€12,126
down €12,126 (-75.6%), from €16,047 to €3,921
- Depreciation +€6,184
up €6,184 (+19.9%), from €31,150 to €37,333
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 | €515,621 | €422,572 | -€93,049 | -18.0% |
| Fixed assets | 21/28 | €84,338 | €71,726 | -€12,612 | -15.0% |
| Intangible fixed assets | 21 | €78,688 | €71,217 | -€7,471 | -9.5% |
| Tangible fixed assets | 22/27 | €5,650 | €509 | -€5,141 | -91.0% |
| Furniture and vehicles | 24 | €5,650 | €509 | -€5,141 | -91.0% |
| Current assets | 29/58 | €431,284 | €350,846 | -€80,437 | -18.7% |
| Stocks and contracts in progress | 3 | €103,825 | €96,500 | -€7,325 | -7.1% |
| Stocks | 30/36 | €57,500 | €52,500 | -€5,000 | -8.7% |
| Contracts in progress | 37 | €46,325 | €44,000 | -€2,325 | -5.0% |
| Amounts receivable within one year | 40/41 | €281,858 | €194,976 | -€86,883 | -30.8% |
| Trade receivables | 40 | €217,253 | €155,170 | -€62,082 | -28.6% |
| Other amounts receivable | 41 | €64,606 | €39,805 | -€24,800 | -38.4% |
| Cash at bank and in hand | 54/58 | €45,600 | €59,371 | +€13,770 | +30.2% |
| Total equity and liabilities | 10/49 | €515,621 | €422,572 | -€93,049 | -18.0% |
| Equity | 10/15 | €129,898 | €133,572 | +€3,674 | +2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,698 | €65,372 | +€3,674 | +6.0% |
| Amounts payable | 17/49 | €385,723 | €289,000 | -€96,723 | -25.1% |
| Amounts payable after more than one year | 17 | €25,793 | €15,512 | -€10,281 | -39.9% |
| Financial debts | 170/4 | €25,793 | €15,512 | -€10,281 | -39.9% |
| Amounts payable within one year | 42/48 | €359,930 | €273,488 | -€86,442 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €9,759 | €10,281 | +€522 | +5.3% |
| Trade debts | 44 | €156,245 | €100,255 | -€55,990 | -35.8% |
| Suppliers | 440/4 | €156,245 | €100,255 | -€55,990 | -35.8% |
| Taxes, remuneration and social security | 45 | €74,051 | €51,789 | -€22,262 | -30.1% |
| Taxes | 450/3 | €33,363 | €15,702 | -€17,661 | -52.9% |
| Remuneration and social security | 454/9 | €40,688 | €36,087 | -€4,601 | -11.3% |
| Other amounts payable | 47/48 | €119,875 | €111,163 | -€8,712 | -7.3% |
| Remuneration, social security and pensions | 62 | €267,320 | €240,981 | -€26,339 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,150 | €37,333 | +€6,184 | +19.9% |
| Other operating charges | 640/8 | €657 | €387 | -€269 | -41.0% |
| Gross operating margin | 9900 | €358,099 | €288,747 | -€69,352 | -19.4% |
| Operating profit (loss) | 9901 | €58,973 | €10,046 | -€48,928 | -83.0% |
| Financial income | 75/76B | €0 | €22 | +€22 | +222300.0% |
| Recurring financial income | 75 | €0 | €22 | +€22 | +222300.0% |
| Financial charges | 65/66B | €4,157 | €2,473 | -€1,684 | -40.5% |
| Recurring financial charges | 65 | €4,157 | €2,473 | -€1,684 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €54,816 | €7,595 | -€47,221 | -86.1% |
| Income taxes | 67/77 | €16,047 | €3,921 | -€12,126 | -75.6% |
| Profit (loss) for the period | 9904 | €38,769 | €3,674 | -€35,095 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,769 | €3,674 | -€35,095 | -90.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.