EXPERTISSIMO: 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.
EXPERTISSIMO
Largest movements
- Tangible fixed assets -€14,421
down €14,421 (-25.0%), from €57,683 to €43,262
- Receivables within one year +€2,318
new in 2025: €2,318
- Other debts -€34,711
down €34,711 (-51.3%), from €67,633 to €32,922
- Debts after one year +€34,642
up €34,642 (+60.3%), from €57,440 to €92,082
- Profit (loss) carried forward -€15,968
down €15,968 (-14.1%), from -€112,975 to -€128,943
- Trade debts +€2,976
up €2,976 (+48.4%), from €6,143 to €9,119
- Accrued charges and deferred income +€954
new in 2025: €954
- Gross operating margin -€1,156
down €1,156 (-29.2%), from €3,963 to €2,807
- Financial charges +€645
up €645 (+17.3%), from €3,726 to €4,371
- Other operating charges -€326
down €326 (-96.1%), from €340 to €13
- Write-downs -€225
no longer reported in 2025 (was €225)
- Financial income -€151
down €151 (-84.0%), from €180 to €29
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 | €57,778 | €46,254 | -€11,525 | -19.9% |
| Fixed assets | 21/28 | €57,683 | €43,262 | -€14,421 | -25.0% |
| Tangible fixed assets | 22/27 | €57,683 | €43,262 | -€14,421 | -25.0% |
| Land and buildings | 22 | €57,683 | €43,262 | -€14,421 | -25.0% |
| Current assets | 29/58 | €96 | €2,992 | +€2,896 | +3023.6% |
| Amounts receivable within one year | 40/41 | - | €2,318 | +€2,318 | |
| Trade receivables | 40 | - | €2,318 | +€2,318 | |
| Cash at bank and in hand | 54/58 | €96 | €320 | +€225 | +234.5% |
| Deferred charges and accrued income | 490/1 | - | €353 | +€353 | |
| Total equity and liabilities | 10/49 | €57,778 | €46,254 | -€11,525 | -19.9% |
| Equity | 10/15 | -€92,523 | -€108,492 | -€15,968 | -17.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,975 | -€128,943 | -€15,968 | -14.1% |
| Amounts payable | 17/49 | €150,302 | €154,745 | +€4,444 | +3.0% |
| Amounts payable after more than one year | 17 | €57,440 | €92,082 | +€34,642 | +60.3% |
| Financial debts | 170/4 | €57,440 | €92,082 | +€34,642 | +60.3% |
| Amounts payable within one year | 42/48 | €92,862 | €61,709 | -€31,152 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €16,493 | €16,668 | +€175 | +1.1% |
| Trade debts | 44 | €6,143 | €9,119 | +€2,976 | +48.4% |
| Suppliers | 440/4 | €6,143 | €9,119 | +€2,976 | +48.4% |
| Advances received on contracts in progress | 46 | €581 | €581 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,012 | €2,420 | +€408 | +20.3% |
| Taxes | 450/3 | €2,012 | €2,420 | +€408 | +20.3% |
| Other amounts payable | 47/48 | €67,633 | €32,922 | -€34,711 | -51.3% |
| Accrued charges and deferred income | 492/3 | - | €954 | +€954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,421 | €14,421 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €225 | - | -€225 | |
| Other operating charges | 640/8 | €340 | €13 | -€326 | -96.1% |
| Gross operating margin | 9900 | €3,963 | €2,807 | -€1,156 | -29.2% |
| Operating profit (loss) | 9901 | -€11,022 | -€11,626 | -€605 | -5.5% |
| Financial income | 75/76B | €180 | €29 | -€151 | -84.0% |
| Recurring financial income | 75 | €180 | €29 | -€151 | -84.0% |
| Financial charges | 65/66B | €3,726 | €4,371 | +€645 | +17.3% |
| Recurring financial charges | 65 | €3,726 | €4,371 | +€645 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,568 | -€15,968 | -€1,401 | -9.6% |
| Profit (loss) for the period | 9904 | -€14,568 | -€15,968 | -€1,401 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,568 | -€15,968 | -€1,401 | -9.6% |
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.