Expatgate: 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.
Expatgate
Largest movements
- Tangible fixed assets +€135,480
up €135,480 (+1,691%), from €8,013 to €143,493
of which Land and buildings: +€131,294
- Receivables within one year +€86,985
up €86,985 (+48.7%), from €178,779 to €265,764
of which Trade receivables: +€45,458
- Cash +€38,150
up €38,150 (+14.2%), from €269,107 to €307,257
mainly Net result for the year (+€207,461) and Other debts (+€175,000)
- Financial fixed assets +€31,082
new in 2025: €31,082
- Deferred charges and accrued income -€30,232
down €30,232 (-99.3%), from €30,458 to €227
- Other debts +€175,000
new in 2025: €175,000
- Debts after one year +€66,596
new in 2025: €66,596
- Reserves +€50,000
up €50,000 (+14.3%), from €350,000 to €400,000
- Profit (loss) carried forward -€17,539
down €17,539 (-10.1%), from €172,909 to €155,370
- Staff costs +€35,256
new in 2025: €35,256
- Other operating charges +€16,343
up €16,343 (+606%), from €2,699 to €19,042
- Gross operating margin -€15,791
down €15,791 (-4.1%), from €384,889 to €369,098
- Taxes -€15,370
down €15,370 (-15.8%), from €97,045 to €81,675
- Write-downs +€6,111
up €6,111 (+29.0%), from €21,096 to €27,207
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 | €564,653 | €834,653 | +€269,999 | +47.8% |
| Fixed assets | 21/28 | €12,439 | €177,681 | +€165,242 | +1,328% |
| Intangible fixed assets | 21 | €4,427 | €3,107 | -€1,320 | -29.8% |
| Tangible fixed assets | 22/27 | €8,013 | €143,493 | +€135,480 | +1,691% |
| Land and buildings | 22 | - | €131,294 | +€131,294 | |
| Plant, machinery and equipment | 23 | €6,053 | €8,985 | +€2,932 | +48.4% |
| Furniture and vehicles | 24 | €1,960 | €3,215 | +€1,255 | +64.0% |
| Financial fixed assets | 28 | - | €31,082 | +€31,082 | |
| Current assets | 29/58 | €552,214 | €656,971 | +€104,757 | +19.0% |
| Amounts receivable within one year | 40/41 | €178,779 | €265,764 | +€86,985 | +48.7% |
| Trade receivables | 40 | €69,570 | €115,028 | +€45,458 | +65.3% |
| Other amounts receivable | 41 | €109,209 | €150,736 | +€41,527 | +38.0% |
| Current investments | 50/53 | €73,870 | €83,724 | +€9,854 | +13.3% |
| Cash at bank and in hand | 54/58 | €269,107 | €307,257 | +€38,150 | +14.2% |
| Deferred charges and accrued income | 490/1 | €30,458 | €227 | -€30,232 | -99.3% |
| Total equity and liabilities | 10/49 | €564,653 | €834,653 | +€269,999 | +47.8% |
| Equity | 10/15 | €525,909 | €558,370 | +€32,461 | +6.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €350,000 | €400,000 | +€50,000 | +14.3% |
| Distributable reserves | 133 | €350,000 | €400,000 | +€50,000 | +14.3% |
| Profit (loss) carried forward | 14 | €172,909 | €155,370 | -€17,539 | -10.1% |
| Amounts payable | 17/49 | €38,745 | €276,283 | +€237,538 | +613% |
| Amounts payable after more than one year | 17 | - | €66,596 | +€66,596 | |
| Financial debts | 170/4 | - | €66,596 | +€66,596 | |
| Amounts payable within one year | 42/48 | €38,745 | €209,687 | +€170,943 | +441% |
| Current portion of amounts payable after more than one year | 42 | - | €6,661 | +€6,661 | |
| Trade debts | 44 | €6,745 | €1,824 | -€4,920 | -73.0% |
| Suppliers | 440/4 | €6,745 | €1,824 | -€4,920 | -73.0% |
| Taxes, remuneration and social security | 45 | €32,000 | €26,203 | -€5,797 | -18.1% |
| Taxes | 450/3 | €32,000 | €21,500 | -€10,500 | -32.8% |
| Remuneration and social security | 454/9 | - | €4,703 | +€4,703 | |
| Other amounts payable | 47/48 | - | €175,000 | +€175,000 | |
| Remuneration, social security and pensions | 62 | - | €35,256 | +€35,256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,722 | €6,900 | +€4,177 | +153% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,096 | €27,207 | +€6,111 | +29.0% |
| Other operating charges | 640/8 | €2,699 | €19,042 | +€16,343 | +606% |
| Gross operating margin | 9900 | €384,889 | €369,098 | -€15,791 | -4.1% |
| Operating profit (loss) | 9901 | €358,372 | €280,693 | -€77,678 | -21.7% |
| Financial income | 75/76B | €5,748 | €10,559 | +€4,811 | +83.7% |
| Recurring financial income | 75 | €5,748 | €10,559 | +€4,811 | +83.7% |
| Financial charges | 65/66B | €184 | €2,116 | +€1,932 | +1,049% |
| Recurring financial charges | 65 | €184 | €2,116 | +€1,932 | +1,049% |
| Profit (loss) for the period before taxes | 9903 | €363,936 | €289,136 | -€74,800 | -20.6% |
| Income taxes | 67/77 | €97,045 | €81,675 | -€15,370 | -15.8% |
| Profit (loss) for the period | 9904 | €266,891 | €207,461 | -€59,430 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €266,891 | €207,461 | -€59,430 | -22.3% |
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 28 October 2026 via checked.be.