EXPITISOL: 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.
What changed
EXPITISOL
NACE 43.230, Insulation installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€259,233
2024 · €40,200+€219,033
Equity
€1.6m
2024 · €1.3m+€259,233
Cash
€1.1m
2024 · €271,605+€799,091
Balance sheet total
€5.9m
2024 · €5.2m+€704,854
Largest movements
Assets
- Cash +€799,091
up €799,091 (+294.2%), from €271,605 to €1.1m
mainly Trade debts (+€493,893) and Depreciation (+€339,430)
- Stocks and contracts -€125,028
down €125,028 (-26.1%), from €478,155 to €353,127
- Receivables within one year +€72,657
up €72,657 (+3.6%), from €2.0m to €2.1m
of which Other amounts receivable: +€55,794
Equity and liabilities
- Reserves +€1.2m
up €1.2m (+400.3%), from €309,355 to €1.5m
- Profit (loss) carried forward -€979,050
no longer reported in 2025 (was €979,050)
- Trade debts +€493,893
up €493,893 (+22.0%), from €2.2m to €2.7m
Income statement
- Gross operating margin +€1.9m
up €1.9m (+393.3%), from €485,881 to €2.4m
- Staff costs +€840,894
up €840,894 (+247678.6%), from €340 to €841,233
- Write-downs +€739,932
up €739,932 (+20865.9%), from €3,546 to €743,479
- Taxes +€104,667
up €104,667 (+584.2%), from €17,916 to €122,583
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.
Result 2024
€40,200
Gross operating margin
+€1.9m
Staff costs
-€840,894
Depreciation
+€1,402
Write-downs
-€739,932
Other operating charges
-€10,428
Other operating items
-€1,735
Financial income
+€4,600
Financial charges
-€247
Taxes
-€104,667
Result 2025
€259,233
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.
From operations
+€1.1m
Investment
-€295,424
Financing
-€13,917
Cash 2024
€271,605
From operations (derived)
+€1.1m
Net result for the year
+€259,233
Depreciation
+€339,430
Stocks and contracts
+€125,028
Receivables within one year
-€72,657
Deferred charges and accrued income
-€2,141
Trade debts
+€493,893
Tax, wage and social debts
-€36,194
Other debts
+€1,839
Investment (derived)
-€295,424
Investment in fixed assets (net)
-€295,424
Financing
-€13,917
Debts after one year
+€27,096
Current portion of long-term debt
+€8,987
Short-term financial debts
-€50,000
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,212,578 | €5,917,432 | +€704,854 | +13.5% |
| Fixed assets | 21/28 | €2,387,155 | €2,343,148 | -€44,007 | -1.8% |
| Tangible fixed assets | 22/27 | €2,381,155 | €2,343,148 | -€38,007 | -1.6% |
| Land and buildings | 22 | €1,916,356 | €1,076,478 | -€839,878 | -43.8% |
| Plant, machinery and equipment | 23 | €191,449 | €136,271 | -€55,178 | -28.8% |
| Furniture and vehicles | 24 | €133,404 | €85,638 | -€47,766 | -35.8% |
| Leasing and similar rights | 25 | €139,946 | €297,848 | +€157,903 | +112.8% |
| Other tangible fixed assets | 26 | - | €746,913 | +€746,913 | |
| Financial fixed assets | 28 | €6,000 | - | -€6,000 | |
| Current assets | 29/58 | €2,825,423 | €3,574,284 | +€748,861 | +26.5% |
| Stocks and contracts in progress | 3 | €478,155 | €353,127 | -€125,028 | -26.1% |
| Stocks | 30/36 | €478,155 | €353,127 | -€125,028 | -26.1% |
| Amounts receivable within one year | 40/41 | €2,023,586 | €2,096,243 | +€72,657 | +3.6% |
| Trade receivables | 40 | €2,001,212 | €2,018,075 | +€16,863 | +0.8% |
| Other amounts receivable | 41 | €22,375 | €78,168 | +€55,794 | +249.4% |
| Cash at bank and in hand | 54/58 | €271,605 | €1,070,696 | +€799,091 | +294.2% |
| Deferred charges and accrued income | 490/1 | €52,076 | €54,217 | +€2,141 | +4.1% |
| Total equity and liabilities | 10/49 | €5,212,578 | €5,917,432 | +€704,854 | +13.5% |
| Equity | 10/15 | €1,294,605 | €1,553,838 | +€259,233 | +20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €309,355 | €1,547,638 | +€1.2m | +400.3% |
| Distributable reserves | 133 | €309,355 | €1,547,638 | +€1.2m | +400.3% |
| Profit (loss) carried forward | 14 | €979,050 | - | -€979,050 | |
| Amounts payable | 17/49 | €3,917,973 | €4,363,594 | +€445,621 | +11.4% |
| Amounts payable after more than one year | 17 | €1,174,105 | €1,201,202 | +€27,096 | +2.3% |
| Financial debts | 170/4 | €1,174,105 | €1,201,202 | +€27,096 | +2.3% |
| Amounts payable within one year | 42/48 | €2,743,868 | €3,162,393 | +€418,525 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €234,823 | €243,810 | +€8,987 | +3.8% |
| Financial debts | 43 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Credit institutions | 430/8 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Trade debts | 44 | €2,240,353 | €2,734,246 | +€493,893 | +22.0% |
| Suppliers | 440/4 | €2,240,353 | €2,734,246 | +€493,893 | +22.0% |
| Taxes, remuneration and social security | 45 | €117,040 | €80,847 | -€36,194 | -30.9% |
| Taxes | 450/3 | €117,040 | €3,738 | -€113,302 | -96.8% |
| Remuneration and social security | 454/9 | €0 | €77,109 | +€77,109 | |
| Other amounts payable | 47/48 | €1,651 | €3,490 | +€1,839 | +111.4% |
| Non-recurring operating income | 76A | €0 | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €340 | €841,233 | +€840,894 | +247678.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340,832 | €339,430 | -€1,402 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,546 | €743,479 | +€739,932 | +20865.9% |
| Other operating charges | 640/8 | €38,908 | €49,336 | +€10,428 | +26.8% |
| Non-recurring operating charges | 66A | €7,116 | €8,851 | +€1,735 | +24.4% |
| Gross operating margin | 9900 | €485,881 | €2,396,816 | +€1.9m | +393.3% |
| Operating profit (loss) | 9901 | €95,139 | €414,487 | +€319,347 | +335.7% |
| Financial income | 75/76B | €1,438 | €6,038 | +€4,600 | +320.0% |
| Recurring financial income | 75 | €1,438 | €6,038 | +€4,600 | +320.0% |
| Financial charges | 65/66B | €38,461 | €38,709 | +€247 | +0.6% |
| Recurring financial charges | 65 | €38,461 | €38,709 | +€247 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €58,116 | €381,816 | +€323,700 | +557.0% |
| Income taxes | 67/77 | €17,916 | €122,583 | +€104,667 | +584.2% |
| Profit (loss) for the period | 9904 | €40,200 | €259,233 | +€219,033 | +544.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,200 | €259,233 | +€219,033 | +544.9% |
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 4 October 2026 via checked.be.