EXPERT PLUS: 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.
EXPERT PLUS
Largest movements
- Cash +€132,368
up €132,368 (+95.6%), from €138,479 to €270,847
mainly Net result for the year (+€115,085) and Tax, wage and social debts (+€32,356)
- Intangible fixed assets +€19,984
new in 2025: €19,984
- Current investments +€5,000
new in 2025: €5,000
- Reserves +€115,085
up €115,085 (+86.1%), from €133,586 to €248,671
- Tax, wage and social debts +€32,356
up €32,356 (+89.0%), from €36,373 to €68,729
of which Taxes: +€33,856
- Other debts +€16,877
up €16,877 (+100.9%), from €16,720 to €33,597
- Debts after one year -€7,305
down €7,305 (-30.6%), from €23,909 to €16,604
- Gross operating margin +€60,099
up €60,099 (+46.6%), from €129,032 to €189,130
- Taxes +€14,783
up €14,783 (+63.2%), from €23,403 to €38,186
- Write-downs +€10,790
new in 2025: €10,790
- Depreciation +€8,679
up €8,679 (+193.9%), from €4,476 to €13,155
- Staff costs +€3,017
up €3,017 (+615.3%), from €490 to €3,508
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 | €221,707 | €376,691 | +€154,984 | +69.9% |
| Formation expenses | 20 | - | €226 | +€226 | |
| Fixed assets | 21/28 | €34,032 | €54,531 | +€20,499 | +60.2% |
| Intangible fixed assets | 21 | - | €19,984 | +€19,984 | |
| Tangible fixed assets | 22/27 | €29,797 | €30,312 | +€515 | +1.7% |
| Plant, machinery and equipment | 23 | €3,812 | €3,343 | -€469 | -12.3% |
| Furniture and vehicles | 24 | €25,985 | €16,006 | -€9,979 | -38.4% |
| Other tangible fixed assets | 26 | - | €10,963 | +€10,963 | |
| Financial fixed assets | 28 | €4,235 | €4,235 | = | 0.0% |
| Current assets | 29/58 | €187,675 | €321,934 | +€134,259 | +71.5% |
| Amounts receivable within one year | 40/41 | €48,553 | €45,929 | -€2,624 | -5.4% |
| Trade receivables | 40 | €48,553 | €45,929 | -€2,624 | -5.4% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €138,479 | €270,847 | +€132,368 | +95.6% |
| Deferred charges and accrued income | 490/1 | €643 | €158 | -€485 | -75.4% |
| Total equity and liabilities | 10/49 | €221,707 | €376,691 | +€154,984 | +69.9% |
| Equity | 10/15 | €135,586 | €250,671 | +€115,085 | +84.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €133,586 | €248,671 | +€115,085 | +86.1% |
| Distributable reserves | 133 | €133,586 | €248,671 | +€115,085 | +86.1% |
| Amounts payable | 17/49 | €86,120 | €126,020 | +€39,900 | +46.3% |
| Amounts payable after more than one year | 17 | €23,909 | €16,604 | -€7,305 | -30.6% |
| Financial debts | 170/4 | €23,909 | €16,604 | -€7,305 | -30.6% |
| Amounts payable within one year | 42/48 | €62,211 | €109,416 | +€47,205 | +75.9% |
| Current portion of amounts payable after more than one year | 42 | €5,508 | €7,090 | +€1,581 | +28.7% |
| Trade debts | 44 | €3,610 | - | -€3,610 | |
| Suppliers | 440/4 | €3,610 | - | -€3,610 | |
| Taxes, remuneration and social security | 45 | €36,373 | €68,729 | +€32,356 | +89.0% |
| Taxes | 450/3 | €34,873 | €68,729 | +€33,856 | +97.1% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €16,720 | €33,597 | +€16,877 | +100.9% |
| Remuneration, social security and pensions | 62 | €490 | €3,508 | +€3,017 | +615.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,476 | €13,155 | +€8,679 | +193.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,790 | +€10,790 | |
| Other operating charges | 640/8 | €5,274 | €2,851 | -€2,423 | -45.9% |
| Gross operating margin | 9900 | €129,032 | €189,130 | +€60,099 | +46.6% |
| Operating profit (loss) | 9901 | €118,791 | €158,827 | +€40,036 | +33.7% |
| Financial income | 75/76B | - | €99 | +€99 | |
| Recurring financial income | 75 | - | €99 | +€99 | |
| Financial charges | 65/66B | €4,495 | €5,655 | +€1,160 | +25.8% |
| Recurring financial charges | 65 | €4,495 | €5,655 | +€1,160 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €114,296 | €153,271 | +€38,975 | +34.1% |
| Income taxes | 67/77 | €23,403 | €38,186 | +€14,783 | +63.2% |
| Profit (loss) for the period | 9904 | €90,893 | €115,085 | +€24,192 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €90,893 | €115,085 | +€24,192 | +26.6% |
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 7 October 2026 via checked.be.