A² 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.
A² LOGISTICS
Largest movements
- Receivables within one year -€105,112
down €105,112 (-22.7%), from €464,003 to €358,891
of which Other amounts receivable: -€156,865
- Cash +€26,001
up €26,001 (+94,514%), from €28 to €26,028
mainly Receivables within one year (+€105,112) and Current portion of long-term debt (+€99,002)
- Profit (loss) carried forward +€1.3m
up €1.3m, from -€652,220 to €638,820
- Reserves -€1.2m
down €1.2m (-99.8%), from €1.2m to €1,860
of which Tax-exempt reserves: -€1.2m
- Debts after one year -€303,362
down €303,362 (-23.8%), from €1.3m to €969,967
of which Financial debts: -€303,362
- Current portion of long-term debt +€99,002
up €99,002 (+263%), from €37,665 to €136,667
- Short-term financial debts +€38,411
up €38,411 (+38.1%), from €100,692 to €139,102
- Other operating charges +€99,868
up €99,868 (+576%), from €17,348 to €117,216
- Depreciation -€97,284
down €97,284 (-85.7%), from €113,566 to €16,282
- Gross operating margin -€56,802
down €56,802 (-15.3%), from €371,009 to €314,207
- Staff costs -€28,871
down €28,871 (-23.3%), from €123,989 to €95,118
- Write-downs +€10,218
new in 2025: €10,218
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 | €2,158,454 | €2,063,430 | -€95,025 | -4.4% |
| Fixed assets | 21/28 | €1,693,794 | €1,678,511 | -€15,283 | -0.9% |
| Tangible fixed assets | 22/27 | €1,687,194 | €1,671,911 | -€15,283 | -0.9% |
| Land and buildings | 22 | €1,660,289 | €1,645,551 | -€14,738 | -0.9% |
| Plant, machinery and equipment | 23 | €26,726 | €26,360 | -€366 | -1.4% |
| Furniture and vehicles | 24 | €179 | €0 | -€179 | -100% |
| Financial fixed assets | 28 | €6,600 | €6,600 | = | 0.0% |
| Current assets | 29/58 | €464,661 | €384,919 | -€79,742 | -17.2% |
| Amounts receivable within one year | 40/41 | €464,003 | €358,891 | -€105,112 | -22.7% |
| Trade receivables | 40 | €194,003 | €245,756 | +€51,753 | +26.7% |
| Other amounts receivable | 41 | €269,999 | €113,134 | -€156,865 | -58.1% |
| Cash at bank and in hand | 54/58 | €28 | €26,028 | +€26,001 | +94,514% |
| Deferred charges and accrued income | 490/1 | €630 | €0 | -€630 | -100% |
| Total equity and liabilities | 10/49 | €2,158,454 | €2,063,430 | -€95,025 | -4.4% |
| Equity | 10/15 | €591,067 | €659,280 | +€68,213 | +11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,224,688 | €1,860 | -€1.2m | -99.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,222,828 | €0 | -€1.2m | -100% |
| Profit (loss) carried forward | 14 | -€652,220 | €638,820 | +€1.3m | |
| Amounts payable | 17/49 | €1,567,387 | €1,404,150 | -€163,237 | -10.4% |
| Amounts payable after more than one year | 17 | €1,273,329 | €969,967 | -€303,362 | -23.8% |
| Financial debts | 170/4 | €1,270,029 | €966,667 | -€303,362 | -23.9% |
| Other amounts payable | 178/9 | €3,300 | €3,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €294,058 | €434,183 | +€140,125 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €37,665 | €136,667 | +€99,002 | +263% |
| Financial debts | 43 | €100,692 | €139,102 | +€38,411 | +38.1% |
| Credit institutions | 430/8 | €100,692 | €139,102 | +€38,411 | +38.1% |
| Trade debts | 44 | €121,912 | €123,549 | +€1,637 | +1.3% |
| Suppliers | 440/4 | €121,912 | €123,549 | +€1,637 | +1.3% |
| Taxes, remuneration and social security | 45 | €33,790 | €30,901 | -€2,889 | -8.5% |
| Taxes | 450/3 | €18,382 | €19,000 | +€617 | +3.4% |
| Remuneration and social security | 454/9 | €15,407 | €11,901 | -€3,506 | -22.8% |
| Other amounts payable | 47/48 | - | €3,965 | +€3,965 | |
| Remuneration, social security and pensions | 62 | €123,989 | €95,118 | -€28,871 | -23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,566 | €16,282 | -€97,284 | -85.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,218 | +€10,218 | |
| Other operating charges | 640/8 | €17,348 | €117,216 | +€99,868 | +576% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €371,009 | €314,207 | -€56,802 | -15.3% |
| Operating profit (loss) | 9901 | €116,106 | €75,373 | -€40,733 | -35.1% |
| Financial income | 75/76B | €13,911 | €11,793 | -€2,118 | -15.2% |
| Recurring financial income | 75 | €13,911 | €11,793 | -€2,118 | -15.2% |
| Financial charges | 65/66B | €12,848 | €18,463 | +€5,615 | +43.7% |
| Recurring financial charges | 65 | €12,848 | €18,463 | +€5,615 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | €117,169 | €68,703 | -€48,466 | -41.4% |
| Income taxes | 67/77 | - | €490 | +€490 | |
| Profit (loss) for the period | 9904 | €117,169 | €68,213 | -€48,956 | -41.8% |
| Transfer from tax-exempt reserves | 789 | - | €1,222,828 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €117,169 | €1,291,040 | +€1.2m | +1,002% |
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 25 October 2026 via checked.be.