EXPECTSAFER: 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.
EXPECTSAFER
Largest movements
- Cash +€122,101
up €122,101 (+588.6%), from €20,744 to €142,845
mainly Net result for the year (+€127,787) and Receivables within one year (+€8,972)
- Receivables within one year -€8,972
down €8,972 (-48.8%), from €18,383 to €9,411
of which Trade receivables: -€9,865
- Tangible fixed assets +€6,785
new in 2025: €6,785
of which Other tangible fixed assets: +€4,197
- Deferred charges and accrued income -€1,922
down €1,922 (-15.6%), from €12,306 to €10,384
- Profit (loss) carried forward +€125,705
up €125,705 (+351.7%), from €35,738 to €161,442
- Tax, wage and social debts -€8,057
no longer reported in 2025 (was €8,057)
- Other debts +€4,982
new in 2025: €4,982
- Trade debts -€4,639
no longer reported in 2025 (was €4,639)
- Gross operating margin +€119,875
up €119,875 (+259.2%), from €46,249 to €166,124
- Taxes +€27,228
up €27,228 (+292.8%), from €9,298 to €36,526
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 | €51,433 | €169,425 | +€117,991 | +229.4% |
| Fixed assets | 21/28 | - | €6,785 | +€6,785 | |
| Tangible fixed assets | 22/27 | - | €6,785 | +€6,785 | |
| Furniture and vehicles | 24 | - | €2,588 | +€2,588 | |
| Other tangible fixed assets | 26 | - | €4,197 | +€4,197 | |
| Current assets | 29/58 | €51,433 | €162,640 | +€111,207 | +216.2% |
| Amounts receivable within one year | 40/41 | €18,383 | €9,411 | -€8,972 | -48.8% |
| Trade receivables | 40 | €18,383 | €8,518 | -€9,865 | -53.7% |
| Other amounts receivable | 41 | - | €893 | +€893 | |
| Cash at bank and in hand | 54/58 | €20,744 | €142,845 | +€122,101 | +588.6% |
| Deferred charges and accrued income | 490/1 | €12,306 | €10,384 | -€1,922 | -15.6% |
| Total equity and liabilities | 10/49 | €51,433 | €169,425 | +€117,991 | +229.4% |
| Equity | 10/15 | €38,738 | €164,442 | +€125,705 | +324.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,738 | €161,442 | +€125,705 | +351.7% |
| Amounts payable | 17/49 | €12,696 | €4,982 | -€7,714 | -60.8% |
| Amounts payable within one year | 42/48 | €12,696 | €4,982 | -€7,714 | -60.8% |
| Trade debts | 44 | €4,639 | - | -€4,639 | |
| Suppliers | 440/4 | €4,639 | - | -€4,639 | |
| Taxes, remuneration and social security | 45 | €8,057 | - | -€8,057 | |
| Taxes | 450/3 | €8,057 | - | -€8,057 | |
| Other amounts payable | 47/48 | - | €4,982 | +€4,982 | |
| Non-recurring operating income | 76A | - | €16 | +€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,213 | €528 | -€685 | -56.5% |
| Other operating charges | 640/8 | - | €162 | +€162 | |
| Non-recurring operating charges | 66A | - | €5 | +€5 | |
| Gross operating margin | 9900 | €46,249 | €166,124 | +€119,875 | +259.2% |
| Operating profit (loss) | 9901 | €45,036 | €165,429 | +€120,393 | +267.3% |
| Financial charges | 65/66B | - | €1,115 | +€1,115 | |
| Recurring financial charges | 65 | - | €1,115 | +€1,115 | |
| Profit (loss) for the period before taxes | 9903 | €45,036 | €164,313 | +€119,277 | +264.8% |
| Income taxes | 67/77 | €9,298 | €36,526 | +€27,228 | +292.8% |
| Profit (loss) for the period | 9904 | €35,738 | €127,787 | +€92,050 | +257.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,738 | €127,787 | +€92,050 | +257.6% |
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 5 October 2026 via checked.be.