EXPAND PARTNER: 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.
EXPAND PARTNER
Largest movements
- Cash +€25,326
up €25,326 (+40.2%), from €63,043 to €88,369
mainly Net result for the year (+€44,380) and Depreciation (+€25,297)
- Tangible fixed assets -€22,952
down €22,952 (-4.3%), from €536,051 to €513,098
of which Land and buildings: -€22,117
- Profit (loss) carried forward +€44,380
up €44,380 (+110%), from €40,368 to €84,749
- Debts after one year -€25,597
down €25,597 (-5.1%), from €500,580 to €474,983
- Trade debts -€16,518
down €16,518 (-71.4%), from €23,133 to €6,615
- Gross operating margin +€11,596
up €11,596 (+12.9%), from €89,558 to €101,154
- Purchases and services -€5,653
down €5,653 (-4.1%), from €138,096 to €132,443
- Taxes +€5,111
up €5,111 (+39.8%), from €12,838 to €17,949
- Turnover +€4,080
up €4,080 (+2.1%), from €196,220 to €200,300
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 | €722,400 | €723,432 | +€1,033 | +0.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €536,156 | €513,203 | -€22,952 | -4.3% |
| Tangible fixed assets | 22/27 | €536,051 | €513,098 | -€22,952 | -4.3% |
| Land and buildings | 22 | €534,257 | €512,140 | -€22,117 | -4.1% |
| Furniture and vehicles | 24 | €1,794 | €958 | -€835 | -46.6% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €186,244 | €210,229 | +€23,985 | +12.9% |
| Amounts receivable within one year | 40/41 | €50,887 | €47,676 | -€3,211 | -6.3% |
| Trade receivables | 40 | €43,053 | €37,375 | -€5,679 | -13.2% |
| Other amounts receivable | 41 | €7,834 | €10,302 | +€2,468 | +31.5% |
| Current investments | 50/53 | €71,567 | €72,539 | +€971 | +1.4% |
| Cash at bank and in hand | 54/58 | €63,043 | €88,369 | +€25,326 | +40.2% |
| Deferred charges and accrued income | 490/1 | €746 | €1,645 | +€899 | +120% |
| Total equity and liabilities | 10/49 | €722,400 | €723,432 | +€1,033 | +0.1% |
| Equity | 10/15 | €161,939 | €206,319 | +€44,380 | +27.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €111,570 | €111,570 | = | 0.0% |
| Distributable reserves | 133 | €111,570 | €111,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,368 | €84,749 | +€44,380 | +110% |
| Amounts payable | 17/49 | €560,461 | €517,113 | -€43,348 | -7.7% |
| Amounts payable after more than one year | 17 | €500,580 | €474,983 | -€25,597 | -5.1% |
| Financial debts | 170/4 | €500,580 | €474,983 | -€25,597 | -5.1% |
| Amounts payable within one year | 42/48 | €59,214 | €41,995 | -€17,219 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €25,058 | €25,597 | +€539 | +2.1% |
| Trade debts | 44 | €23,133 | €6,615 | -€16,518 | -71.4% |
| Suppliers | 440/4 | €23,133 | €6,615 | -€16,518 | -71.4% |
| Taxes, remuneration and social security | 45 | €11,023 | €9,783 | -€1,240 | -11.2% |
| Taxes | 450/3 | €9,523 | €8,283 | -€1,240 | -13.0% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €667 | €135 | -€532 | -79.8% |
| Turnover | 70 | €196,220 | €200,300 | +€4,080 | +2.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €138,096 | €132,443 | -€5,653 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,953 | €25,297 | +€344 | +1.4% |
| Other operating charges | 640/8 | €1,972 | €3,589 | +€1,617 | +82.0% |
| Gross operating margin | 9900 | €89,558 | €101,154 | +€11,596 | +12.9% |
| Operating profit (loss) | 9901 | €62,633 | €72,268 | +€9,635 | +15.4% |
| Financial income | 75/76B | €2,239 | €1,417 | -€823 | -36.7% |
| Recurring financial income | 75 | €2,239 | €1,417 | -€823 | -36.7% |
| Financial charges | 65/66B | €11,666 | €11,355 | -€311 | -2.7% |
| Recurring financial charges | 65 | €11,666 | €11,355 | -€311 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €53,206 | €62,329 | +€9,123 | +17.1% |
| Income taxes | 67/77 | €12,838 | €17,949 | +€5,111 | +39.8% |
| Profit (loss) for the period | 9904 | €40,368 | €44,380 | +€4,012 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,368 | €44,380 | +€4,012 | +9.9% |
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 29 October 2026 via checked.be.