EXP4U: 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.
EXP4U
Largest movements
- Cash +€40,027
up €40,027 (+26.9%), from €148,805 to €188,832
mainly Net result for the year (+€60,401) and Trade debts (+€20,209)
- Receivables within one year +€11,124
up €11,124 (+104%), from €10,648 to €21,772
of which Trade receivables: +€10,352
- Tangible fixed assets -€9,398
down €9,398 (-32.4%), from €29,019 to €19,621
- Deferred charges and accrued income +€2,396
new in 2025: €2,396
- Profit (loss) carried forward +€60,401
up €60,401 (+62.2%), from €97,140 to €157,541
- Other debts -€35,300
down €35,300 (-97.2%), from €36,300 to €1,000
- Trade debts +€20,209
up €20,209 (+328%), from €6,162 to €26,371
- Taxes +€3,725
up €3,725 (+18.4%), from €20,266 to €23,991
- Gross operating margin -€2,702
down €2,702 (-2.8%), from €97,084 to €94,382
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 | €188,472 | €232,620 | +€44,148 | +23.4% |
| Fixed assets | 21/28 | €29,019 | €19,621 | -€9,398 | -32.4% |
| Tangible fixed assets | 22/27 | €29,019 | €19,621 | -€9,398 | -32.4% |
| Furniture and vehicles | 24 | €29,019 | €19,621 | -€9,398 | -32.4% |
| Current assets | 29/58 | €159,453 | €212,999 | +€53,547 | +33.6% |
| Amounts receivable within one year | 40/41 | €10,648 | €21,772 | +€11,124 | +104% |
| Trade receivables | 40 | €10,648 | €21,000 | +€10,352 | +97.2% |
| Other amounts receivable | 41 | - | €772 | +€772 | |
| Cash at bank and in hand | 54/58 | €148,805 | €188,832 | +€40,027 | +26.9% |
| Deferred charges and accrued income | 490/1 | - | €2,396 | +€2,396 | |
| Total equity and liabilities | 10/49 | €188,472 | €232,620 | +€44,148 | +23.4% |
| Equity | 10/15 | €117,600 | €178,001 | +€60,401 | +51.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,140 | €157,541 | +€60,401 | +62.2% |
| Amounts payable | 17/49 | €70,872 | €54,619 | -€16,253 | -22.9% |
| Amounts payable within one year | 42/48 | €70,872 | €54,619 | -€16,253 | -22.9% |
| Trade debts | 44 | €6,162 | €26,371 | +€20,209 | +328% |
| Suppliers | 440/4 | €6,162 | €26,371 | +€20,209 | +328% |
| Taxes, remuneration and social security | 45 | €28,410 | €27,248 | -€1,162 | -4.1% |
| Taxes | 450/3 | €28,410 | €27,248 | -€1,162 | -4.1% |
| Other amounts payable | 47/48 | €36,300 | €1,000 | -€35,300 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,110 | €9,398 | -€712 | -7.0% |
| Other operating charges | 640/8 | €715 | €438 | -€277 | -38.8% |
| Gross operating margin | 9900 | €97,084 | €94,382 | -€2,702 | -2.8% |
| Operating profit (loss) | 9901 | €86,259 | €84,546 | -€1,713 | -2.0% |
| Financial charges | 65/66B | €140 | €154 | +€14 | +9.7% |
| Recurring financial charges | 65 | €140 | €154 | +€14 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €86,119 | €84,392 | -€1,726 | -2.0% |
| Income taxes | 67/77 | €20,266 | €23,991 | +€3,725 | +18.4% |
| Profit (loss) for the period | 9904 | €65,853 | €60,401 | -€5,452 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,853 | €60,401 | -€5,452 | -8.3% |
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 13 October 2026 via checked.be.