EXPO FORCE: 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 FORCE
Largest movements
- Tangible fixed assets -€75,408
down €75,408 (-4.8%), from €1.6m to €1.5m
of which Land and buildings: -€48,125
- Stocks and contracts +€29,755
up €29,755 (+42.2%), from €70,451 to €100,206
of which Contracts in progress: +€15,845
- Cash -€26,548
down €26,548 (-13.5%), from €196,682 to €170,134
mainly Debts after one year (-€152,812) and Investment in fixed assets (net) (-€44,976)
- Debts after one year -€152,812
down €152,812 (-13.9%), from €1.1m to €948,788
- Reserves +€118,500
up €118,500 (+42.8%), from €276,550 to €395,050
of which Distributable reserves: +€118,500
- Tax, wage and social debts -€33,203
down €33,203 (-34.4%), from €96,606 to €63,402
of which Taxes: -€23,366
- Gross operating margin -€17,496
down €17,496 (-4.3%), from €405,548 to €388,052
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 | €1,867,263 | €1,797,659 | -€69,604 | -3.7% |
| Fixed assets | 21/28 | €1,584,581 | €1,509,173 | -€75,408 | -4.8% |
| Tangible fixed assets | 22/27 | €1,581,993 | €1,506,585 | -€75,408 | -4.8% |
| Land and buildings | 22 | €1,368,526 | €1,320,402 | -€48,125 | -3.5% |
| Plant, machinery and equipment | 23 | €62,038 | €78,651 | +€16,613 | +26.8% |
| Furniture and vehicles | 24 | €151,429 | €107,532 | -€43,897 | -29.0% |
| Financial fixed assets | 28 | €2,588 | €2,588 | = | 0.0% |
| Current assets | 29/58 | €282,682 | €288,486 | +€5,804 | +2.1% |
| Stocks and contracts in progress | 3 | €70,451 | €100,206 | +€29,755 | +42.2% |
| Stocks | 30/36 | €58,189 | €72,099 | +€13,910 | +23.9% |
| Contracts in progress | 37 | €12,263 | €28,107 | +€15,845 | +129.2% |
| Amounts receivable within one year | 40/41 | €14,882 | €17,351 | +€2,469 | +16.6% |
| Trade receivables | 40 | €9,440 | €13,058 | +€3,619 | +38.3% |
| Other amounts receivable | 41 | €5,442 | €4,293 | -€1,150 | -21.1% |
| Cash at bank and in hand | 54/58 | €196,682 | €170,134 | -€26,548 | -13.5% |
| Deferred charges and accrued income | 490/1 | €667 | €795 | +€128 | +19.2% |
| Total equity and liabilities | 10/49 | €1,867,263 | €1,797,659 | -€69,604 | -3.7% |
| Equity | 10/15 | €507,504 | €626,008 | +€118,504 | +23.4% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €276,550 | €395,050 | +€118,500 | +42.8% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €257,800 | €376,300 | +€118,500 | +46.0% |
| Profit (loss) carried forward | 14 | €209,954 | €209,958 | +€4 | 0.0% |
| Amounts payable | 17/49 | €1,359,759 | €1,171,651 | -€188,109 | -13.8% |
| Amounts payable after more than one year | 17 | €1,101,599 | €948,788 | -€152,812 | -13.9% |
| Financial debts | 170/4 | €1,101,599 | €948,788 | -€152,812 | -13.9% |
| Amounts payable within one year | 42/48 | €258,160 | €222,863 | -€35,297 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €147,596 | €148,812 | +€1,215 | +0.8% |
| Trade debts | 44 | €13,958 | €10,649 | -€3,309 | -23.7% |
| Suppliers | 440/4 | €13,958 | €10,649 | -€3,309 | -23.7% |
| Taxes, remuneration and social security | 45 | €96,606 | €63,402 | -€33,203 | -34.4% |
| Taxes | 450/3 | €70,838 | €47,472 | -€23,366 | -33.0% |
| Remuneration and social security | 454/9 | €25,768 | €15,930 | -€9,837 | -38.2% |
| Remuneration, social security and pensions | 62 | €56,449 | €52,627 | -€3,822 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,550 | €120,384 | +€1,834 | +1.5% |
| Other operating charges | 640/8 | €23,597 | €24,869 | +€1,271 | +5.4% |
| Gross operating margin | 9900 | €405,548 | €388,052 | -€17,496 | -4.3% |
| Operating profit (loss) | 9901 | €206,951 | €190,173 | -€16,779 | -8.1% |
| Financial income | 75/76B | €871 | €625 | -€246 | -28.2% |
| Recurring financial income | 75 | €871 | €625 | -€246 | -28.2% |
| Financial charges | 65/66B | €24,692 | €21,541 | -€3,152 | -12.8% |
| Recurring financial charges | 65 | €24,692 | €21,541 | -€3,152 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €183,130 | €169,256 | -€13,873 | -7.6% |
| Income taxes | 67/77 | €53,828 | €50,752 | -€3,076 | -5.7% |
| Profit (loss) for the period | 9904 | €129,302 | €118,504 | -€10,797 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €129,302 | €118,504 | -€10,797 | -8.4% |
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 11 October 2026 via checked.be.