EXPLEO: 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.
EXPLEO
Largest movements
- Cash -€72,706
down €72,706 (-76.4%), from €95,220 to €22,514
mainly Contributions, distributions and other (-€77,059) and Receivables within one year (-€38,339)
- Receivables within one year +€38,339
up €38,339 (+52.2%), from €73,395 to €111,734
of which Trade receivables: +€35,116
- Tangible fixed assets -€5,938
down €5,938 (-5.6%), from €105,605 to €99,667
of which Land and buildings: -€5,636
- Reserves -€57,111
down €57,111 (-36.5%), from €156,615 to €99,505
- Other debts +€26,010
up €26,010 (+7757.3%), from €335 to €26,345
- Tax, wage and social debts -€14,192
down €14,192 (-78.6%), from €18,057 to €3,864
of which Taxes: -€14,192
- Trade debts +€4,970
up €4,970 (+5.3%), from €93,324 to €98,294
- Gross operating margin -€31,058
down €31,058 (-46.0%), from €67,496 to €36,438
- Taxes -€7,529
down €7,529 (-46.2%), from €16,306 to €8,778
- Depreciation -€1,712
down €1,712 (-22.4%), from €7,650 to €5,938
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 | €286,932 | €246,608 | -€40,324 | -14.1% |
| Fixed assets | 21/28 | €117,672 | €111,733 | -€5,938 | -5.0% |
| Tangible fixed assets | 22/27 | €105,605 | €99,667 | -€5,938 | -5.6% |
| Land and buildings | 22 | €105,303 | €99,667 | -€5,636 | -5.4% |
| Furniture and vehicles | 24 | €302 | €0 | -€302 | -100.0% |
| Financial fixed assets | 28 | €12,067 | €12,067 | = | 0.0% |
| Current assets | 29/58 | €169,260 | €134,874 | -€34,386 | -20.3% |
| Amounts receivable within one year | 40/41 | €73,395 | €111,734 | +€38,339 | +52.2% |
| Trade receivables | 40 | €73,395 | €108,511 | +€35,116 | +47.8% |
| Other amounts receivable | 41 | €0 | €3,222 | +€3,222 | |
| Cash at bank and in hand | 54/58 | €95,220 | €22,514 | -€72,706 | -76.4% |
| Deferred charges and accrued income | 490/1 | €645 | €627 | -€18 | -2.8% |
| Total equity and liabilities | 10/49 | €286,932 | €246,608 | -€40,324 | -14.1% |
| Equity | 10/15 | €175,215 | €118,105 | -€57,111 | -32.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €156,615 | €99,505 | -€57,111 | -36.5% |
| Distributable reserves | 133 | €156,615 | €99,505 | -€57,111 | -36.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €111,716 | €128,503 | +€16,787 | +15.0% |
| Amounts payable within one year | 42/48 | €111,716 | €128,503 | +€16,787 | +15.0% |
| Trade debts | 44 | €93,324 | €98,294 | +€4,970 | +5.3% |
| Suppliers | 440/4 | €93,324 | €98,294 | +€4,970 | +5.3% |
| Taxes, remuneration and social security | 45 | €18,057 | €3,864 | -€14,192 | -78.6% |
| Taxes | 450/3 | €18,057 | €3,864 | -€14,192 | -78.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €335 | €26,345 | +€26,010 | +7757.3% |
| Remuneration, social security and pensions | 62 | €218 | €0 | -€218 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,650 | €5,938 | -€1,712 | -22.4% |
| Other operating charges | 640/8 | €1,952 | €1,632 | -€321 | -16.4% |
| Gross operating margin | 9900 | €67,496 | €36,438 | -€31,058 | -46.0% |
| Operating profit (loss) | 9901 | €57,676 | €28,868 | -€28,808 | -49.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €192 | €143 | -€50 | -25.9% |
| Recurring financial charges | 65 | €192 | €143 | -€50 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €57,484 | €28,726 | -€28,758 | -50.0% |
| Income taxes | 67/77 | €16,306 | €8,778 | -€7,529 | -46.2% |
| Profit (loss) for the period | 9904 | €41,177 | €19,948 | -€21,229 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,177 | €19,948 | -€21,229 | -51.6% |
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.