EXPO2D: 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.
EXPO2D
Largest movements
- Financial fixed assets -€100,000
down €100,000 (-95.2%), from €105,000 to €5,000
- Cash -€67,697
down €67,697 (-92.3%), from €73,321 to €5,624
mainly Other debts (-€114,082) and Contributions, distributions and other (-€50,000)
- Receivables within one year +€33,291
up €33,291 (+109.0%), from €30,545 to €63,836
of which Other amounts receivable: +€32,387
- Tangible fixed assets -€21,017
down €21,017 (-4.8%), from €440,760 to €419,743
of which Land and buildings: -€18,936
- Other debts -€114,082
down €114,082 (-97.9%), from €116,582 to €2,500
- Profit (loss) carried forward -€48,000
down €48,000 (-77.7%), from €61,746 to €13,746
- Reserves +€28,306
up €28,306 (+12.6%), from €225,266 to €253,572
of which Distributable reserves: +€40,414
- Debts after one year -€21,321
down €21,321 (-19.1%), from €111,658 to €90,337
- Financial income +€114,002
up €114,002 (+165219.9%), from €69 to €114,071
- Financial charges +€74,582
up €74,582 (+2159.8%), from €3,453 to €78,035
- Gross operating margin -€7,609
down €7,609 (-31.8%), from €23,966 to €16,356
- Depreciation -€6,035
down €6,035 (-22.3%), from €27,052 to €21,017
- Taxes +€2,622
up €2,622 (+184.6%), from €1,420 to €4,041
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 | €649,627 | €494,203 | -€155,424 | -23.9% |
| Fixed assets | 21/28 | €545,760 | €424,743 | -€121,017 | -22.2% |
| Tangible fixed assets | 22/27 | €440,760 | €419,743 | -€21,017 | -4.8% |
| Land and buildings | 22 | €425,851 | €406,915 | -€18,936 | -4.4% |
| Furniture and vehicles | 24 | €12,708 | €10,628 | -€2,081 | -16.4% |
| Other tangible fixed assets | 26 | €2,200 | €2,200 | = | 0.0% |
| Financial fixed assets | 28 | €105,000 | €5,000 | -€100,000 | -95.2% |
| Current assets | 29/58 | €103,867 | €69,460 | -€34,407 | -33.1% |
| Amounts receivable within one year | 40/41 | €30,545 | €63,836 | +€33,291 | +109.0% |
| Trade receivables | 40 | - | €904 | +€904 | |
| Other amounts receivable | 41 | €30,545 | €62,932 | +€32,387 | +106.0% |
| Cash at bank and in hand | 54/58 | €73,321 | €5,624 | -€67,697 | -92.3% |
| Total equity and liabilities | 10/49 | €649,627 | €494,203 | -€155,424 | -23.9% |
| Equity | 10/15 | €294,012 | €274,318 | -€19,694 | -6.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €225,266 | €253,572 | +€28,306 | +12.6% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Tax-exempt reserves | 132 | €202,164 | €192,056 | -€10,108 | -5.0% |
| Distributable reserves | 133 | €21,101 | €61,516 | +€40,414 | +191.5% |
| Profit (loss) carried forward | 14 | €61,746 | €13,746 | -€48,000 | -77.7% |
| Provisions and deferred taxes | 16 | €104,145 | €98,938 | -€5,207 | -5.0% |
| Deferred taxes | 168 | €104,145 | €98,938 | -€5,207 | -5.0% |
| Amounts payable | 17/49 | €251,469 | €120,946 | -€130,523 | -51.9% |
| Amounts payable after more than one year | 17 | €111,658 | €90,337 | -€21,321 | -19.1% |
| Financial debts | 170/4 | €111,658 | €90,337 | -€21,321 | -19.1% |
| Amounts payable within one year | 42/48 | €137,421 | €28,119 | -€109,301 | -79.5% |
| Current portion of amounts payable after more than one year | 42 | €20,838 | €21,321 | +€483 | +2.3% |
| Trade debts | 44 | - | €278 | +€278 | |
| Suppliers | 440/4 | - | €278 | +€278 | |
| Taxes, remuneration and social security | 45 | - | €4,020 | +€4,020 | |
| Taxes | 450/3 | - | €4,020 | +€4,020 | |
| Other amounts payable | 47/48 | €116,582 | €2,500 | -€114,082 | -97.9% |
| Accrued charges and deferred income | 492/3 | €2,390 | €2,490 | +€100 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,052 | €21,017 | -€6,035 | -22.3% |
| Other operating charges | 640/8 | €2,166 | €2,234 | +€68 | +3.1% |
| Gross operating margin | 9900 | €23,966 | €16,356 | -€7,609 | -31.8% |
| Operating profit (loss) | 9901 | -€5,253 | -€6,895 | -€1,642 | -31.3% |
| Financial income | 75/76B | €69 | €114,071 | +€114,002 | +165219.9% |
| Recurring financial income | 75 | €69 | €114,071 | +€114,002 | +165219.9% |
| Financial charges | 65/66B | €3,453 | €78,035 | +€74,582 | +2159.8% |
| Recurring financial charges | 65 | €3,453 | €78,035 | +€74,582 | +2159.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,637 | €29,140 | +€37,777 | |
| Transfer from deferred taxes | 780 | €5,207 | €5,207 | = | 0.0% |
| Income taxes | 67/77 | €1,420 | €4,041 | +€2,622 | +184.6% |
| Profit (loss) for the period | 9904 | -€4,850 | €30,306 | +€35,156 | |
| Transfer from tax-exempt reserves | 789 | €10,108 | €10,108 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,259 | €40,414 | +€35,156 | +668.5% |
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 6 October 2026 via checked.be.