EXPAIRTOURS: 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.
EXPAIRTOURS
Largest movements
- Receivables within one year +€249,028
up €249,028 (+71.1%), from €350,456 to €599,484
of which Trade receivables: +€424,385
- Cash -€87,130
down €87,130 (-1.5%), from €5.8m to €5.7m
mainly Contributions, distributions and other (-€2.1m) and Receivables within one year (-€249,028)
- Reserves -€2.1m
down €2.1m (-76.8%), from €2.7m to €631,647
of which Distributable reserves: -€2.1m
- Other debts +€1.6m
up €1.6m (+444.8%), from €365,730 to €2.0m
- Profit (loss) carried forward +€549,702
up €549,702 (+49.0%), from €1.1m to €1.7m
- Tax, wage and social debts +€110,597
up €110,597 (+220.0%), from €50,264 to €160,861
of which Taxes: +€105,528
- Trade debts +€98,667
up €98,667 (+70.5%), from €139,854 to €238,521
- Gross operating margin -€641,167
down €641,167 (-40.1%), from €1.6m to €958,303
- Taxes -€156,470
down €156,470 (-44.4%), from €352,540 to €196,070
- Financial income -€26,838
down €26,838 (-21.2%), from €126,425 to €99,587
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 | €6,746,482 | €6,956,985 | +€210,503 | +3.1% |
| Fixed assets | 21/28 | €83,310 | €132,012 | +€48,702 | +58.5% |
| Tangible fixed assets | 22/27 | €83,310 | €132,012 | +€48,702 | +58.5% |
| Plant, machinery and equipment | 23 | €18,869 | €12,572 | -€6,297 | -33.4% |
| Furniture and vehicles | 24 | €10,273 | €88,597 | +€78,324 | +762.5% |
| Leasing and similar rights | 25 | - | €3,194 | +€3,194 | |
| Other tangible fixed assets | 26 | €54,168 | €27,649 | -€26,519 | -49.0% |
| Current assets | 29/58 | €6,663,172 | €6,824,973 | +€161,801 | +2.4% |
| Amounts receivable within one year | 40/41 | €350,456 | €599,484 | +€249,028 | +71.1% |
| Trade receivables | 40 | - | €424,385 | +€424,385 | |
| Other amounts receivable | 41 | €350,456 | €175,099 | -€175,357 | -50.0% |
| Cash at bank and in hand | 54/58 | €5,754,049 | €5,666,919 | -€87,130 | -1.5% |
| Deferred charges and accrued income | 490/1 | €558,668 | €558,571 | -€97 | 0.0% |
| Total equity and liabilities | 10/49 | €6,746,482 | €6,956,985 | +€210,503 | +3.1% |
| Equity | 10/15 | €3,940,658 | €2,403,146 | -€1.5m | -39.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,718,862 | €631,647 | -€2.1m | -76.8% |
| Non-distributable reserves | 130/1 | €22,500 | €18,500 | -€4,000 | -17.8% |
| Legal reserve | 130 | €22,500 | €18,500 | -€4,000 | -17.8% |
| Distributable reserves | 133 | €2,696,362 | €613,147 | -€2.1m | -77.3% |
| Profit (loss) carried forward | 14 | €1,121,797 | €1,671,499 | +€549,702 | +49.0% |
| Amounts payable | 17/49 | €2,805,824 | €4,553,839 | +€1.7m | +62.3% |
| Amounts payable within one year | 42/48 | €555,847 | €2,392,026 | +€1.8m | +330.3% |
| Trade debts | 44 | €139,854 | €238,521 | +€98,667 | +70.5% |
| Suppliers | 440/4 | €139,854 | €238,521 | +€98,667 | +70.5% |
| Taxes, remuneration and social security | 45 | €50,264 | €160,861 | +€110,597 | +220.0% |
| Taxes | 450/3 | €20,594 | €126,122 | +€105,528 | +512.4% |
| Remuneration and social security | 454/9 | €29,670 | €34,739 | +€5,069 | +17.1% |
| Other amounts payable | 47/48 | €365,730 | €1,992,645 | +€1.6m | +444.8% |
| Accrued charges and deferred income | 492/3 | €2,249,977 | €2,161,813 | -€88,164 | -3.9% |
| Remuneration, social security and pensions | 62 | €276,335 | €269,104 | -€7,231 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,264 | €37,583 | +€3,319 | +9.7% |
| Other operating charges | 640/8 | €6,402 | €1,530 | -€4,872 | -76.1% |
| Gross operating margin | 9900 | €1,599,470 | €958,303 | -€641,167 | -40.1% |
| Operating profit (loss) | 9901 | €1,282,470 | €650,086 | -€632,384 | -49.3% |
| Financial income | 75/76B | €126,425 | €99,587 | -€26,838 | -21.2% |
| Recurring financial income | 75 | €126,425 | €99,587 | -€26,838 | -21.2% |
| Financial charges | 65/66B | €6,010 | €3,900 | -€2,111 | -35.1% |
| Recurring financial charges | 65 | €6,010 | €3,900 | -€2,111 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €1,402,884 | €745,773 | -€657,111 | -46.8% |
| Income taxes | 67/77 | €352,540 | €196,070 | -€156,470 | -44.4% |
| Profit (loss) for the period | 9904 | €1,050,344 | €549,703 | -€500,642 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,050,344 | €549,703 | -€500,642 | -47.7% |
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 8 October 2026 via checked.be.