BRUXELLES 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.
BRUXELLES EXPRESS
Largest movements
- Receivables within one year +€63,323
up €63,323 (+106%), from €59,621 to €122,944
of which Other amounts receivable: +€64,032
- Cash +€28,737
up €28,737 (+53.6%), from €53,634 to €82,371
mainly Debts after one year (+€52,384) and Net result for the year (+€35,958)
- Tangible fixed assets +€20,718
up €20,718 (+121%), from €17,155 to €37,873
of which Furniture and vehicles: +€22,118
- Intangible fixed assets -€3,250
down €3,250 (-16.7%), from €19,512 to €16,262
- Debts after one year +€52,384
new in 2026: €52,384
- Profit (loss) carried forward +€35,958
up €35,958 (+25.3%), from €142,131 to €178,090
- Current portion of long-term debt +€22,808
new in 2026: €22,808
- Taxes -€6,768
down €6,768 (-39.4%), from €17,188 to €10,420
- Gross operating margin +€6,337
up €6,337 (+4.2%), from €149,979 to €156,316
- Other operating charges +€5,708
up €5,708 (+612%), from €933 to €6,641
- Depreciation +€3,569
up €3,569 (+33.2%), from €10,763 to €14,332
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,217 | €262,745 | +€109,528 | +71.5% |
| Fixed assets | 21/28 | €36,667 | €54,135 | +€17,468 | +47.6% |
| Intangible fixed assets | 21 | €19,512 | €16,262 | -€3,250 | -16.7% |
| Tangible fixed assets | 22/27 | €17,155 | €37,873 | +€20,718 | +121% |
| Furniture and vehicles | 24 | €11,555 | €33,673 | +€22,118 | +191% |
| Other tangible fixed assets | 26 | €5,600 | €4,200 | -€1,400 | -25.0% |
| Current assets | 29/58 | €116,550 | €208,609 | +€92,059 | +79.0% |
| Stocks and contracts in progress | 3 | €3,294 | €3,294 | = | 0.0% |
| Stocks | 30/36 | €3,294 | €3,294 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,621 | €122,944 | +€63,323 | +106% |
| Trade receivables | 40 | €709 | - | -€709 | |
| Other amounts receivable | 41 | €58,912 | €122,944 | +€64,032 | +109% |
| Cash at bank and in hand | 54/58 | €53,634 | €82,371 | +€28,737 | +53.6% |
| Total equity and liabilities | 10/49 | €153,217 | €262,745 | +€109,528 | +71.5% |
| Equity | 10/15 | €148,331 | €184,290 | +€35,958 | +24.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €142,131 | €178,090 | +€35,958 | +25.3% |
| Amounts payable | 17/49 | €4,886 | €78,455 | +€73,569 | +1,506% |
| Amounts payable after more than one year | 17 | - | €52,384 | +€52,384 | |
| Financial debts | 170/4 | - | €52,384 | +€52,384 | |
| Amounts payable within one year | 42/48 | €4,886 | €26,071 | +€21,186 | +434% |
| Current portion of amounts payable after more than one year | 42 | - | €22,808 | +€22,808 | |
| Trade debts | 44 | €4,886 | €3,263 | -€1,622 | -33.2% |
| Suppliers | 440/4 | €4,886 | €3,263 | -€1,622 | -33.2% |
| Remuneration, social security and pensions | 62 | €89,774 | €88,880 | -€894 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,763 | €14,332 | +€3,569 | +33.2% |
| Other operating charges | 640/8 | €933 | €6,641 | +€5,708 | +612% |
| Gross operating margin | 9900 | €149,979 | €156,316 | +€6,337 | +4.2% |
| Operating profit (loss) | 9901 | €48,509 | €46,463 | -€2,046 | -4.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €120 | €85 | -€35 | -29.3% |
| Recurring financial charges | 65 | €120 | €85 | -€35 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €48,389 | €46,379 | -€2,010 | -4.2% |
| Income taxes | 67/77 | €17,188 | €10,420 | -€6,768 | -39.4% |
| Profit (loss) for the period | 9904 | €31,200 | €35,958 | +€4,758 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,200 | €35,958 | +€4,758 | +15.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.