Expectea: 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.
Expectea
Largest movements
- Current investments +€95,000
up €95,000 (+158%), from €60,000 to €155,000
- Cash -€56,359
down €56,359 (-44.4%), from €126,960 to €70,601
mainly Current investments (-€95,000) and Tax, wage and social debts (-€35,532)
- Tangible fixed assets -€9,393
down €9,393 (-17.0%), from €55,235 to €45,842
of which Other tangible fixed assets: -€7,709
- Reserves +€67,122
up €67,122 (+31.0%), from €216,825 to €283,947
- Tax, wage and social debts -€35,532
down €35,532 (-85.7%), from €41,483 to €5,950
of which Taxes: -€34,102
- Trade debts -€3,621
down €3,621 (-53.1%), from €6,824 to €3,203
- Gross operating margin +€11,685
up €11,685 (+11.9%), from €98,330 to €110,015
- Depreciation +€3,773
up €3,773 (+33.4%), from €11,310 to €15,083
- Taxes +€2,545
up €2,545 (+10.6%), from €24,075 to €26,620
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 | €271,462 | €300,086 | +€28,623 | +10.5% |
| Fixed assets | 21/28 | €55,235 | €45,842 | -€9,393 | -17.0% |
| Tangible fixed assets | 22/27 | €55,235 | €45,842 | -€9,393 | -17.0% |
| Land and buildings | 22 | €928 | €471 | -€456 | -49.2% |
| Furniture and vehicles | 24 | €15,180 | €13,953 | -€1,227 | -8.1% |
| Other tangible fixed assets | 26 | €39,127 | €31,418 | -€7,709 | -19.7% |
| Current assets | 29/58 | €216,227 | €254,243 | +€38,016 | +17.6% |
| Amounts receivable within one year | 40/41 | €29,063 | €28,438 | -€625 | -2.1% |
| Trade receivables | 40 | €27,830 | €27,225 | -€605 | -2.2% |
| Other amounts receivable | 41 | €1,233 | €1,213 | -€20 | -1.6% |
| Current investments | 50/53 | €60,000 | €155,000 | +€95,000 | +158% |
| Cash at bank and in hand | 54/58 | €126,960 | €70,601 | -€56,359 | -44.4% |
| Deferred charges and accrued income | 490/1 | €205 | €205 | = | 0.0% |
| Total equity and liabilities | 10/49 | €271,462 | €300,086 | +€28,623 | +10.5% |
| Equity | 10/15 | €221,825 | €288,947 | +€67,122 | +30.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €216,825 | €283,947 | +€67,122 | +31.0% |
| Distributable reserves | 133 | €216,825 | €283,947 | +€67,122 | +31.0% |
| Amounts payable | 17/49 | €49,637 | €11,139 | -€38,498 | -77.6% |
| Amounts payable within one year | 42/48 | €49,637 | €11,139 | -€38,498 | -77.6% |
| Trade debts | 44 | €6,824 | €3,203 | -€3,621 | -53.1% |
| Suppliers | 440/4 | €6,824 | €3,203 | -€3,621 | -53.1% |
| Taxes, remuneration and social security | 45 | €41,483 | €5,950 | -€35,532 | -85.7% |
| Taxes | 450/3 | €40,053 | €5,950 | -€34,102 | -85.1% |
| Remuneration and social security | 454/9 | €1,430 | - | -€1,430 | |
| Other amounts payable | 47/48 | €1,331 | €1,986 | +€655 | +49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,310 | €15,083 | +€3,773 | +33.4% |
| Other operating charges | 640/8 | €580 | €867 | +€286 | +49.3% |
| Gross operating margin | 9900 | €98,330 | €110,015 | +€11,685 | +11.9% |
| Operating profit (loss) | 9901 | €86,439 | €94,065 | +€7,626 | +8.8% |
| Financial income | 75/76B | €894 | €30 | -€864 | -96.7% |
| Recurring financial income | 75 | €894 | €30 | -€864 | -96.7% |
| Financial charges | 65/66B | €366 | €353 | -€12 | -3.4% |
| Recurring financial charges | 65 | €366 | €353 | -€12 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €86,968 | €93,741 | +€6,774 | +7.8% |
| Income taxes | 67/77 | €24,075 | €26,620 | +€2,545 | +10.6% |
| Profit (loss) for the period | 9904 | €62,893 | €67,122 | +€4,229 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,893 | €67,122 | +€4,229 | +6.7% |
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 19 October 2026 via checked.be.