Expo: 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.
Expo
Largest movements
- Tangible fixed assets -€87,906
down €87,906 (-26.3%), from €333,678 to €245,772
of which Furniture and vehicles: -€64,314
- Receivables within one year +€55,416
up €55,416 (+81.6%), from €67,875 to €123,290
of which Trade receivables: +€32,916
- Cash +€12,963
up €12,963 (+52.6%), from €24,641 to €37,604
mainly Accrued charges and deferred income (+€129,600) and Depreciation (+€70,651)
- Accrued charges and deferred income +€129,600
new in 2025: €129,600
- Other debts -€62,347
no longer reported in 2025 (was €62,347)
- Profit (loss) carried forward -€48,448
new in 2025: -€48,448
- Debts after one year -€42,252
down €42,252 (-48.9%), from €86,345 to €44,093
- Trade debts +€40,693
up €40,693 (+37.2%), from €109,392 to €150,085
- Gross operating margin -€63,194
down €63,194 (-15.3%), from €414,122 to €350,928
- Depreciation -€10,199
down €10,199 (-12.6%), from €80,850 to €70,651
- Staff costs -€9,886
down €9,886 (-3.0%), from €329,896 to €320,010
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.
Derived cash bridge
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 | €480,905 | €460,232 | -€20,673 | -4.3% |
| Fixed assets | 21/28 | €333,728 | €245,822 | -€87,906 | -26.3% |
| Tangible fixed assets | 22/27 | €333,678 | €245,772 | -€87,906 | -26.3% |
| Plant, machinery and equipment | 23 | €12,288 | €7,372 | -€4,916 | -40.0% |
| Furniture and vehicles | 24 | €154,039 | €89,725 | -€64,314 | -41.8% |
| Other tangible fixed assets | 26 | €167,350 | €148,674 | -€18,676 | -11.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €147,177 | €214,410 | +€67,233 | +45.7% |
| Stocks and contracts in progress | 3 | €54,271 | €52,621 | -€1,649 | -3.0% |
| Stocks | 30/36 | €42,606 | €46,071 | +€3,465 | +8.1% |
| Contracts in progress | 37 | €11,664 | €6,550 | -€5,114 | -43.8% |
| Amounts receivable within one year | 40/41 | €67,875 | €123,290 | +€55,416 | +81.6% |
| Trade receivables | 40 | €55,775 | €88,690 | +€32,916 | +59.0% |
| Other amounts receivable | 41 | €12,100 | €34,600 | +€22,500 | +186% |
| Cash at bank and in hand | 54/58 | €24,641 | €37,604 | +€12,963 | +52.6% |
| Deferred charges and accrued income | 490/1 | €390 | €895 | +€505 | +129% |
| Total equity and liabilities | 10/49 | €480,905 | €460,232 | -€20,673 | -4.3% |
| Equity | 10/15 | €103,183 | €40,524 | -€62,659 | -60.7% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €73,436 | €59,225 | -€14,211 | -19.4% |
| Non-distributable reserves | 130/1 | €2,975 | €2,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €14,211 | - | -€14,211 | |
| Profit (loss) carried forward | 14 | - | -€48,448 | -€48,448 | |
| Amounts payable | 17/49 | €377,722 | €419,708 | +€41,987 | +11.1% |
| Amounts payable after more than one year | 17 | €86,345 | €44,093 | -€42,252 | -48.9% |
| Financial debts | 170/4 | €86,345 | €44,093 | -€42,252 | -48.9% |
| Amounts payable within one year | 42/48 | €291,377 | €246,016 | -€45,361 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €40,490 | €42,253 | +€1,762 | +4.4% |
| Financial debts | 43 | €7,294 | €7,271 | -€23 | -0.3% |
| Credit institutions | 430/8 | €7,294 | €7,271 | -€23 | -0.3% |
| Trade debts | 44 | €109,392 | €150,085 | +€40,693 | +37.2% |
| Suppliers | 440/4 | €109,392 | €150,085 | +€40,693 | +37.2% |
| Advances received on contracts in progress | 46 | €770 | €799 | +€29 | +3.8% |
| Taxes, remuneration and social security | 45 | €71,084 | €45,608 | -€25,476 | -35.8% |
| Taxes | 450/3 | €26,123 | €7,591 | -€18,532 | -70.9% |
| Remuneration and social security | 454/9 | €44,961 | €38,017 | -€6,943 | -15.4% |
| Other amounts payable | 47/48 | €62,347 | - | -€62,347 | |
| Accrued charges and deferred income | 492/3 | - | €129,600 | +€129,600 | |
| Remuneration, social security and pensions | 62 | €329,896 | €320,010 | -€9,886 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,850 | €70,651 | -€10,199 | -12.6% |
| Other operating charges | 640/8 | €6,055 | €2,782 | -€3,273 | -54.1% |
| Gross operating margin | 9900 | €414,122 | €350,928 | -€63,194 | -15.3% |
| Operating profit (loss) | 9901 | -€2,679 | -€42,515 | -€39,836 | -1,487% |
| Financial charges | 65/66B | €8,396 | €7,400 | -€997 | -11.9% |
| Recurring financial charges | 65 | €8,396 | €7,400 | -€997 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,075 | -€49,915 | -€38,840 | -351% |
| Income taxes | 67/77 | €1,499 | €500 | -€999 | -66.6% |
| Profit (loss) for the period | 9904 | -€12,574 | -€50,415 | -€37,841 | -301% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,574 | -€50,415 | -€37,841 | -301% |
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 13 October 2026 via checked.be.