A-EXPRESS: 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.
A-EXPRESS
Largest movements
- Tangible fixed assets +€89,828
up €89,828 (+43.6%), from €206,157 to €295,986
of which Furniture and vehicles: +€88,283
- Cash +€56,534
up €56,534 (+76.4%), from €74,011 to €130,545
mainly Depreciation (+€86,709) and Debts after one year (+€54,072)
- Debts after one year +€54,072
up €54,072 (+76.9%), from €70,307 to €124,379
of which Financial debts: +€54,072
- Other debts +€48,462
up €48,462 (+108%), from €44,892 to €93,353
- Reserves +€33,171
up €33,171 (+17.0%), from €194,855 to €228,026
of which Distributable reserves: +€33,171
- Current portion of long-term debt +€9,656
up €9,656 (+35.5%), from €27,235 to €36,890
- Depreciation +€27,681
up €27,681 (+46.9%), from €59,028 to €86,709
- Other operating charges -€9,310
down €9,310 (-71.7%), from €12,992 to €3,681
- Taxes -€6,276
down €6,276 (-40.4%), from €15,516 to €9,240
- Gross operating margin +€3,484
up €3,484 (+2.6%), from €135,340 to €138,825
- Financial charges +€1,848
up €1,848 (+43.8%), from €4,220 to €6,068
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 | €357,108 | €500,520 | +€143,412 | +40.2% |
| Fixed assets | 21/28 | €206,157 | €295,986 | +€89,828 | +43.6% |
| Tangible fixed assets | 22/27 | €206,157 | €295,986 | +€89,828 | +43.6% |
| Plant, machinery and equipment | 23 | €979 | €2,524 | +€1,546 | +158% |
| Furniture and vehicles | 24 | €205,179 | €293,462 | +€88,283 | +43.0% |
| Current assets | 29/58 | €150,950 | €204,534 | +€53,584 | +35.5% |
| Amounts receivable within one year | 40/41 | €76,939 | €73,989 | -€2,950 | -3.8% |
| Trade receivables | 40 | €72,379 | €70,653 | -€1,726 | -2.4% |
| Other amounts receivable | 41 | €4,561 | €3,337 | -€1,224 | -26.8% |
| Cash at bank and in hand | 54/58 | €74,011 | €130,545 | +€56,534 | +76.4% |
| Total equity and liabilities | 10/49 | €357,108 | €500,520 | +€143,412 | +40.2% |
| Equity | 10/15 | €201,365 | €234,536 | +€33,171 | +16.5% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Reserves | 13 | €194,855 | €228,026 | +€33,171 | +17.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €192,995 | €226,166 | +€33,171 | +17.2% |
| Amounts payable | 17/49 | €155,743 | €265,984 | +€110,241 | +70.8% |
| Amounts payable after more than one year | 17 | €70,307 | €124,379 | +€54,072 | +76.9% |
| Financial debts | 170/4 | €69,307 | €123,379 | +€54,072 | +78.0% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €85,436 | €141,605 | +€56,169 | +65.7% |
| Current portion of amounts payable after more than one year | 42 | €27,235 | €36,890 | +€9,656 | +35.5% |
| Trade debts | 44 | €5,507 | €6,635 | +€1,128 | +20.5% |
| Suppliers | 440/4 | €5,507 | €6,635 | +€1,128 | +20.5% |
| Taxes, remuneration and social security | 45 | €7,803 | €4,726 | -€3,077 | -39.4% |
| Taxes | 450/3 | €7,803 | €4,726 | -€3,077 | -39.4% |
| Other amounts payable | 47/48 | €44,892 | €93,353 | +€48,462 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,028 | €86,709 | +€27,681 | +46.9% |
| Other operating charges | 640/8 | €12,992 | €3,681 | -€9,310 | -71.7% |
| Gross operating margin | 9900 | €135,340 | €138,825 | +€3,484 | +2.6% |
| Operating profit (loss) | 9901 | €63,321 | €48,435 | -€14,886 | -23.5% |
| Financial income | 75/76B | €1,254 | €43 | -€1,211 | -96.5% |
| Recurring financial income | 75 | €1,254 | €43 | -€1,211 | -96.5% |
| Financial charges | 65/66B | €4,220 | €6,068 | +€1,848 | +43.8% |
| Recurring financial charges | 65 | €4,220 | €6,068 | +€1,848 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €60,355 | €42,411 | -€17,945 | -29.7% |
| Income taxes | 67/77 | €15,516 | €9,240 | -€6,276 | -40.4% |
| Profit (loss) for the period | 9904 | €44,840 | €33,171 | -€11,669 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,840 | €33,171 | -€11,669 | -26.0% |
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.