B-expert Venture: 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.
B-expert Venture
Largest movements
- Financial fixed assets -€543,598
down €543,598 (-23.7%), from €2.3m to €1.8m
- Tangible fixed assets -€446,988
down €446,988 (-37.8%), from €1.2m to €735,094
of which Assets under construction and advance payments: -€268,243
- Debts after one year -€724,759
down €724,759 (-52.7%), from €1.4m to €650,241
- Other debts -€325,466
down €325,466 (-85.4%), from €381,079 to €55,614
- Reserves +€38,354
up €38,354 (+18.7%), from €204,768 to €243,122
of which Distributable reserves: +€38,354
- Financial charges -€24,302
down €24,302 (-34.3%), from €70,848 to €46,546
- Gross operating margin -€18,788
down €18,788 (-8.5%), from €221,324 to €202,536
- Financial income -€4,765
down €4,765 (-79.8%), from €5,969 to €1,204
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 | €3,725,813 | €2,723,390 | -€1.0m | -26.9% |
| Fixed assets | 21/28 | €3,478,517 | €2,487,931 | -€990,586 | -28.5% |
| Tangible fixed assets | 22/27 | €1,182,082 | €735,094 | -€446,988 | -37.8% |
| Land and buildings | 22 | €816,704 | €664,695 | -€152,008 | -18.6% |
| Furniture and vehicles | 24 | €85,135 | €58,398 | -€26,736 | -31.4% |
| Other tangible fixed assets | 26 | €12,000 | €12,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €268,243 | - | -€268,243 | |
| Financial fixed assets | 28 | €2,296,435 | €1,752,837 | -€543,598 | -23.7% |
| Current assets | 29/58 | €247,296 | €235,459 | -€11,837 | -4.8% |
| Amounts receivable within one year | 40/41 | €170,461 | €175,002 | +€4,541 | +2.7% |
| Trade receivables | 40 | €169,652 | €168,109 | -€1,543 | -0.9% |
| Other amounts receivable | 41 | €809 | €6,893 | +€6,084 | +752% |
| Cash at bank and in hand | 54/58 | €75,462 | €54,570 | -€20,892 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,373 | €5,888 | +€4,515 | +329% |
| Total equity and liabilities | 10/49 | €3,725,813 | €2,723,390 | -€1.0m | -26.9% |
| Equity | 10/15 | €1,935,692 | €1,974,046 | +€38,354 | +2.0% |
| Contributions | 10/11 | €1,130,644 | €1,130,644 | = | 0.0% |
| Reserves | 13 | €204,768 | €243,122 | +€38,354 | +18.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €204,768 | €243,122 | +€38,354 | +18.7% |
| Profit (loss) carried forward | 14 | €600,280 | €600,280 | = | 0.0% |
| Amounts payable | 17/49 | €1,790,121 | €749,344 | -€1.0m | -58.1% |
| Amounts payable after more than one year | 17 | €1,375,000 | €650,241 | -€724,759 | -52.7% |
| Financial debts | 170/4 | €1,375,000 | €650,241 | -€724,759 | -52.7% |
| Amounts payable within one year | 42/48 | €415,121 | €97,822 | -€317,299 | -76.4% |
| Trade debts | 44 | €7,070 | €14,893 | +€7,824 | +111% |
| Suppliers | 440/4 | €7,070 | €14,893 | +€7,824 | +111% |
| Taxes, remuneration and social security | 45 | €26,972 | €27,315 | +€343 | +1.3% |
| Taxes | 450/3 | €26,972 | €27,315 | +€343 | +1.3% |
| Other amounts payable | 47/48 | €381,079 | €55,614 | -€325,466 | -85.4% |
| Accrued charges and deferred income | 492/3 | - | €1,281 | +€1,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,312 | €93,603 | +€1,291 | +1.4% |
| Other operating charges | 640/8 | €4,984 | €5,095 | +€111 | +2.2% |
| Gross operating margin | 9900 | €221,324 | €202,536 | -€18,788 | -8.5% |
| Operating profit (loss) | 9901 | €124,028 | €103,838 | -€20,190 | -16.3% |
| Financial income | 75/76B | €5,969 | €1,204 | -€4,765 | -79.8% |
| Recurring financial income | 75 | €5,969 | €1,204 | -€4,765 | -79.8% |
| Financial charges | 65/66B | €70,848 | €46,546 | -€24,302 | -34.3% |
| Recurring financial charges | 65 | €70,848 | €46,546 | -€24,302 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €59,149 | €58,496 | -€653 | -1.1% |
| Income taxes | 67/77 | €19,095 | €20,142 | +€1,047 | +5.5% |
| Profit (loss) for the period | 9904 | €40,054 | €38,354 | -€1,700 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,054 | €38,354 | -€1,700 | -4.2% |
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 23 October 2026 via checked.be.