EXPENDO: 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.
EXPENDO
Largest movements
- Cash +€37,641
up €37,641 (+207.9%), from €18,106 to €55,747
mainly Depreciation (+€28,017) and Net result for the year (+€17,410)
- Tangible fixed assets -€28,146
down €28,146 (-11.1%), from €254,257 to €226,111
of which Land and buildings: -€22,845
- Receivables within one year -€4,881
down €4,881 (-6.5%), from €74,909 to €70,028
of which Other amounts receivable: -€21,634
- Debts after one year -€29,874
down €29,874 (-12.4%), from €240,534 to €210,661
- Profit (loss) carried forward +€17,410
up €17,410 (+62.0%), from €28,086 to €45,496
- Tax, wage and social debts +€8,726
up €8,726 (+36.1%), from €24,200 to €32,926
of which Taxes: +€5,275
- Trade debts +€7,320
up €7,320 (+44.3%), from €16,508 to €23,828
- Gross operating margin -€20,434
down €20,434 (-13.6%), from €150,781 to €130,346
- Taxes +€8,439
up €8,439 (+1952.1%), from €432 to €8,872
- Staff costs -€8,382
down €8,382 (-11.5%), from €72,578 to €64,197
- Other operating charges -€7,272
down €7,272 (-56.9%), from €12,788 to €5,516
- Financial charges -€3,431
down €3,431 (-30.6%), from €11,224 to €7,792
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 | €351,249 | €355,680 | +€4,431 | +1.3% |
| Fixed assets | 21/28 | €255,051 | €226,905 | -€28,146 | -11.0% |
| Tangible fixed assets | 22/27 | €254,257 | €226,111 | -€28,146 | -11.1% |
| Land and buildings | 22 | €248,860 | €226,014 | -€22,845 | -9.2% |
| Plant, machinery and equipment | 23 | €383 | - | -€383 | |
| Furniture and vehicles | 24 | €5,013 | €97 | -€4,917 | -98.1% |
| Financial fixed assets | 28 | €794 | €794 | = | 0.0% |
| Current assets | 29/58 | €96,199 | €128,775 | +€32,577 | +33.9% |
| Amounts receivable within one year | 40/41 | €74,909 | €70,028 | -€4,881 | -6.5% |
| Trade receivables | 40 | €40,067 | €56,820 | +€16,753 | +41.8% |
| Other amounts receivable | 41 | €34,842 | €13,208 | -€21,634 | -62.1% |
| Cash at bank and in hand | 54/58 | €18,106 | €55,747 | +€37,641 | +207.9% |
| Deferred charges and accrued income | 490/1 | €3,184 | €3,000 | -€184 | -5.8% |
| Total equity and liabilities | 10/49 | €351,249 | €355,680 | +€4,431 | +1.3% |
| Equity | 10/15 | €41,826 | €59,236 | +€17,410 | +41.6% |
| Contributions | 10/11 | €11,780 | €11,780 | = | 0.0% |
| Reserves | 13 | €1,960 | €1,960 | = | 0.0% |
| Distributable reserves | 133 | €1,960 | €1,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,086 | €45,496 | +€17,410 | +62.0% |
| Amounts payable | 17/49 | €309,423 | €296,444 | -€12,979 | -4.2% |
| Amounts payable after more than one year | 17 | €240,534 | €210,661 | -€29,874 | -12.4% |
| Financial debts | 170/4 | €240,534 | €210,661 | -€29,874 | -12.4% |
| Amounts payable within one year | 42/48 | €68,888 | €85,774 | +€16,886 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €28,181 | €29,021 | +€840 | +3.0% |
| Trade debts | 44 | €16,508 | €23,828 | +€7,320 | +44.3% |
| Suppliers | 440/4 | €16,508 | €23,828 | +€7,320 | +44.3% |
| Taxes, remuneration and social security | 45 | €24,200 | €32,926 | +€8,726 | +36.1% |
| Taxes | 450/3 | €14,417 | €19,692 | +€5,275 | +36.6% |
| Remuneration and social security | 454/9 | €9,782 | €13,233 | +€3,451 | +35.3% |
| Accrued charges and deferred income | 492/3 | - | €9 | +€9 | |
| Remuneration, social security and pensions | 62 | €72,578 | €64,197 | -€8,382 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,563 | €28,017 | -€546 | -1.9% |
| Other operating charges | 640/8 | €12,788 | €5,516 | -€7,272 | -56.9% |
| Gross operating margin | 9900 | €150,781 | €130,346 | -€20,434 | -13.6% |
| Operating profit (loss) | 9901 | €36,852 | €32,617 | -€4,235 | -11.5% |
| Financial income | 75/76B | €2,330 | €1,457 | -€873 | -37.5% |
| Recurring financial income | 75 | €2,330 | €1,457 | -€873 | -37.5% |
| Financial charges | 65/66B | €11,224 | €7,792 | -€3,431 | -30.6% |
| Recurring financial charges | 65 | €11,224 | €7,792 | -€3,431 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €27,958 | €26,281 | -€1,676 | -6.0% |
| Income taxes | 67/77 | €432 | €8,872 | +€8,439 | +1952.1% |
| Profit (loss) for the period | 9904 | €27,525 | €17,410 | -€10,116 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,525 | €17,410 | -€10,116 | -36.8% |
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 6 October 2026 via checked.be.