DE EXPEDITIE: 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.
DE EXPEDITIE
Largest movements
- Tangible fixed assets -€83,551
down €83,551 (-7.7%), from €1.1m to €998,518
of which Land and buildings: -€86,069
- Cash +€19,206
up €19,206 (+23.2%), from €82,807 to €102,013
mainly Depreciation (+€133,038) and Net result for the year (+€27,916)
- Investment grants -€100,692
down €100,692 (-11.5%), from €875,559 to €774,867
- Reserves +€25,000
up €25,000 (+57.4%), from €43,531 to €68,531
- Trade debts +€17,125
up €17,125 (+179%), from €9,542 to €26,667
- Debts after one year -€13,220
down €13,220 (-25.3%), from €52,300 to €39,080
- Accrued charges and deferred income +€12,708
up €12,708 (+42.3%), from €30,021 to €42,729
- Gross operating margin +€11,579
up €11,579 (+5.3%), from €220,100 to €231,679
- Depreciation +€9,744
up €9,744 (+7.9%), from €123,294 to €133,038
- Staff costs -€3,557
down €3,557 (-8.7%), from €40,938 to €37,381
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 | €1,207,157 | €1,138,800 | -€68,357 | -5.7% |
| Fixed assets | 21/28 | €1,082,069 | €998,518 | -€83,551 | -7.7% |
| Tangible fixed assets | 22/27 | €1,082,069 | €998,518 | -€83,551 | -7.7% |
| Land and buildings | 22 | €1,080,871 | €994,802 | -€86,069 | -8.0% |
| Plant, machinery and equipment | 23 | €781 | €987 | +€206 | +26.5% |
| Furniture and vehicles | 24 | €417 | €2,729 | +€2,312 | +554% |
| Current assets | 29/58 | €125,088 | €140,282 | +€15,194 | +12.1% |
| Amounts receivable within one year | 40/41 | €37,466 | €33,695 | -€3,771 | -10.1% |
| Trade receivables | 40 | €37,466 | €33,695 | -€3,771 | -10.1% |
| Cash at bank and in hand | 54/58 | €82,807 | €102,013 | +€19,206 | +23.2% |
| Deferred charges and accrued income | 490/1 | €4,815 | €4,574 | -€241 | -5.0% |
| Total equity and liabilities | 10/49 | €1,207,157 | €1,138,800 | -€68,357 | -5.7% |
| Equity | 10/15 | €1,081,889 | €1,009,113 | -€72,776 | -6.7% |
| Reserves | 13 | €43,531 | €68,531 | +€25,000 | +57.4% |
| Profit (loss) carried forward | 14 | €162,799 | €165,715 | +€2,916 | +1.8% |
| Investment grants | 15 | €875,559 | €774,867 | -€100,692 | -11.5% |
| Amounts payable | 17/49 | €125,268 | €129,687 | +€4,419 | +3.5% |
| Amounts payable after more than one year | 17 | €52,300 | €39,080 | -€13,220 | -25.3% |
| Financial debts | 170/4 | €52,300 | €39,080 | -€13,220 | -25.3% |
| Amounts payable within one year | 42/48 | €42,947 | €47,878 | +€4,931 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €12,962 | €13,220 | +€258 | +2.0% |
| Trade debts | 44 | €9,542 | €26,667 | +€17,125 | +179% |
| Suppliers | 440/4 | €9,542 | €26,667 | +€17,125 | +179% |
| Taxes, remuneration and social security | 45 | €20,443 | €7,991 | -€12,452 | -60.9% |
| Taxes | 450/3 | €14,428 | €840 | -€13,588 | -94.2% |
| Remuneration and social security | 454/9 | €6,014 | €7,151 | +€1,137 | +18.9% |
| Accrued charges and deferred income | 492/3 | €30,021 | €42,729 | +€12,708 | +42.3% |
| Membership fees, donations, legacies and grants | 73 | €100,692 | - | -€100,692 | |
| Non-recurring operating income | 76A | €379 | €885 | +€506 | +134% |
| Remuneration, social security and pensions | 62 | €40,938 | €37,381 | -€3,557 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,294 | €133,038 | +€9,744 | +7.9% |
| Other operating charges | 640/8 | €33,824 | €32,170 | -€1,654 | -4.9% |
| Gross operating margin | 9900 | €220,100 | €231,679 | +€11,579 | +5.3% |
| Operating profit (loss) | 9901 | €22,043 | €29,090 | +€7,047 | +32.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,129 | €1,174 | +€45 | +4.0% |
| Recurring financial charges | 65 | €1,129 | €1,014 | -€115 | -10.2% |
| Non-recurring financial charges | 66B | - | €160 | +€160 | |
| Profit (loss) for the period before taxes | 9903 | €20,915 | €27,916 | +€7,001 | +33.5% |
| Profit (loss) for the period | 9904 | €20,915 | €27,916 | +€7,001 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,915 | €27,916 | +€7,001 | +33.5% |
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 22 October 2026 via checked.be.