De Express: what changed
Two fiscal 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 Express
Largest movements
- Receivables within one year -€117,813
down €117,813 (-99.2%), from €118,754 to €941
- Stocks and contracts +€49,090
up €49,090 (+78.8%), from €62,335 to €111,424
- Tangible fixed assets -€10,043
down €10,043 (-20.1%), from €49,965 to €39,922
of which Furniture and vehicles: -€14,563
- Cash +€7,945
up €7,945 (+50.7%), from €15,658 to €23,603
mainly Receivables within one year (+€117,813) and Net result for the year (+€57,432)
- Trade debts -€130,696
down €130,696 (-81.2%), from €160,861 to €30,165
- Profit (loss) carried forward +€57,432
up €57,432 (+4380.3%), from €1,311 to €58,743
- Tax, wage and social debts +€14,311
up €14,311 (+210.6%), from €6,797 to €21,107
of which Taxes: +€12,332
- Other debts -€11,370
down €11,370 (-14.6%), from €77,995 to €66,625
- Turnover +€436,236
up €436,236 (+78.2%), from €558,107 to €994,343
- Purchases and services +€357,040
up €357,040 (+67.4%), from €529,436 to €886,476
- Gross operating margin +€93,287
up €93,287 (+290.6%), from €32,100 to €125,386
- Staff costs +€20,083
new in 2025: €20,083
- Taxes +€14,408
up €14,408 (+670.1%), from €2,150 to €16,558
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.
Cash bridge derived
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 | €251,964 | €181,640 | -€70,324 | -27.9% |
| Fixed assets | 21/28 | €53,715 | €45,672 | -€8,043 | -15.0% |
| Tangible fixed assets | 22/27 | €49,965 | €39,922 | -€10,043 | -20.1% |
| Plant, machinery and equipment | 23 | - | €1,126 | +€1,126 | |
| Furniture and vehicles | 24 | €49,965 | €35,403 | -€14,563 | -29.1% |
| Other tangible fixed assets | 26 | - | €3,394 | +€3,394 | |
| Financial fixed assets | 28 | €3,750 | €5,750 | +€2,000 | +53.3% |
| Current assets | 29/58 | €198,249 | €135,968 | -€62,281 | -31.4% |
| Stocks and contracts in progress | 3 | €62,335 | €111,424 | +€49,090 | +78.8% |
| Stocks | 30/36 | €62,335 | €111,424 | +€49,090 | +78.8% |
| Amounts receivable within one year | 40/41 | €118,754 | €941 | -€117,813 | -99.2% |
| Trade receivables | 40 | €118,754 | €941 | -€117,813 | -99.2% |
| Cash at bank and in hand | 54/58 | €15,658 | €23,603 | +€7,945 | +50.7% |
| Deferred charges and accrued income | 490/1 | €1,502 | - | -€1,502 | |
| Total equity and liabilities | 10/49 | €251,964 | €181,640 | -€70,324 | -27.9% |
| Equity | 10/15 | €6,311 | €63,743 | +€57,432 | +910.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,311 | €58,743 | +€57,432 | +4380.3% |
| Amounts payable | 17/49 | €245,653 | €117,898 | -€127,755 | -52.0% |
| Amounts payable within one year | 42/48 | €245,653 | €117,898 | -€127,755 | -52.0% |
| Trade debts | 44 | €160,861 | €30,165 | -€130,696 | -81.2% |
| Suppliers | 440/4 | €160,861 | €30,165 | -€130,696 | -81.2% |
| Taxes, remuneration and social security | 45 | €6,797 | €21,107 | +€14,311 | +210.6% |
| Taxes | 450/3 | €6,797 | €19,129 | +€12,332 | +181.4% |
| Remuneration and social security | 454/9 | - | €1,978 | +€1,978 | |
| Other amounts payable | 47/48 | €77,995 | €66,625 | -€11,370 | -14.6% |
| Turnover | 70 | €558,107 | €994,343 | +€436,236 | +78.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €529,436 | €886,476 | +€357,040 | +67.4% |
| Remuneration, social security and pensions | 62 | - | €20,083 | +€20,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,071 | €17,643 | +€10,572 | +149.5% |
| Other operating charges | 640/8 | €10,176 | €12,486 | +€2,310 | +22.7% |
| Gross operating margin | 9900 | €32,100 | €125,386 | +€93,287 | +290.6% |
| Operating profit (loss) | 9901 | €14,853 | €75,174 | +€60,322 | +406.1% |
| Financial charges | 65/66B | €499 | €1,185 | +€686 | +137.5% |
| Recurring financial charges | 65 | €169 | €1,185 | +€1,016 | +602.3% |
| Non-recurring financial charges | 66B | €330 | - | -€330 | |
| Profit (loss) for the period before taxes | 9903 | €14,354 | €73,990 | +€59,636 | +415.5% |
| Income taxes | 67/77 | €2,150 | €16,558 | +€14,408 | +670.1% |
| Profit (loss) for the period | 9904 | €12,204 | €57,432 | +€45,228 | +370.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,204 | €57,432 | +€45,228 | +370.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.