Explus: what changed
Two financial 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.
Explus
Largest movements
- Receivables within one year +€45,748
up €45,748 (+39.0%), from €117,438 to €163,187
of which Other amounts receivable: +€24,611
- Cash -€3,281
down €3,281 (-99.9%), from €3,285 to €4
mainly Receivables within one year (-€45,748) and Investment in fixed assets (net) (-€6,823)
- Profit (loss) carried forward +€35,204
up €35,204 (+30.1%), from €117,018 to €152,222
- Tax, wage and social debts +€6,121
up €6,121 (+36.7%), from €16,667 to €22,788
of which Remuneration and social security: +€3,188
- Gross operating margin -€24,539
down €24,539 (-26.2%), from €93,620 to €69,081
- Staff costs -€23,855
down €23,855 (-62.2%), from €38,333 to €14,478
- Depreciation +€2,281
up €2,281 (+40.7%), from €5,609 to €7,890
- Taxes +€1,620
up €1,620 (+13.9%), from €11,649 to €13,269
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 | €138,685 | €180,010 | +€41,325 | +29.8% |
| Fixed assets | 21/28 | €14,893 | €13,826 | -€1,067 | -7.2% |
| Tangible fixed assets | 22/27 | €12,329 | €11,262 | -€1,067 | -8.7% |
| Plant, machinery and equipment | 23 | €1,968 | €2,998 | +€1,030 | +52.4% |
| Furniture and vehicles | 24 | €10,361 | €8,263 | -€2,097 | -20.2% |
| Financial fixed assets | 28 | €2,565 | €2,565 | = | 0.0% |
| Current assets | 29/58 | €123,791 | €166,183 | +€42,392 | +34.2% |
| Amounts receivable within one year | 40/41 | €117,438 | €163,187 | +€45,748 | +39.0% |
| Trade receivables | 40 | €41,549 | €62,687 | +€21,137 | +50.9% |
| Other amounts receivable | 41 | €75,889 | €100,500 | +€24,611 | +32.4% |
| Cash at bank and in hand | 54/58 | €3,285 | €4 | -€3,281 | -99.9% |
| Deferred charges and accrued income | 490/1 | €3,068 | €2,993 | -€75 | -2.4% |
| Total equity and liabilities | 10/49 | €138,685 | €180,010 | +€41,325 | +29.8% |
| Equity | 10/15 | €122,018 | €157,222 | +€35,204 | +28.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,018 | €152,222 | +€35,204 | +30.1% |
| Amounts payable | 17/49 | €16,667 | €22,788 | +€6,121 | +36.7% |
| Amounts payable within one year | 42/48 | €16,667 | €22,788 | +€6,121 | +36.7% |
| Taxes, remuneration and social security | 45 | €16,667 | €22,788 | +€6,121 | +36.7% |
| Taxes | 450/3 | €16,244 | €19,178 | +€2,933 | +18.1% |
| Remuneration and social security | 454/9 | €423 | €3,610 | +€3,188 | +754.3% |
| Remuneration, social security and pensions | 62 | €38,333 | €14,478 | -€23,855 | -62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,609 | €7,890 | +€2,281 | +40.7% |
| Other operating charges | 640/8 | €2,124 | €2,077 | -€46 | -2.2% |
| Non-recurring operating charges | 66A | €6,067 | - | -€6,067 | |
| Gross operating margin | 9900 | €93,620 | €69,081 | -€24,539 | -26.2% |
| Operating profit (loss) | 9901 | €41,487 | €44,635 | +€3,148 | +7.6% |
| Financial income | 75/76B | €4,653 | €4,361 | -€292 | -6.3% |
| Recurring financial income | 75 | €4,653 | €4,361 | -€292 | -6.3% |
| Financial charges | 65/66B | €178 | €523 | +€344 | +193.0% |
| Recurring financial charges | 65 | €178 | €523 | +€344 | +193.0% |
| Profit (loss) for the period before taxes | 9903 | €45,961 | €48,474 | +€2,512 | +5.5% |
| Income taxes | 67/77 | €11,649 | €13,269 | +€1,620 | +13.9% |
| Profit (loss) for the period | 9904 | €34,312 | €35,204 | +€892 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,312 | €35,204 | +€892 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.