EXPOTEL: 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.
EXPOTEL
Largest movements
- Cash -€662,819
down €662,819 (-98.1%), from €675,588 to €12,769
mainly Current investments (-€489,152) and Receivables within one year (-€397,629)
- Current investments +€489,152
new in 2025: €489,152
- Receivables within one year +€397,629
up €397,629 (+34.7%), from €1.1m to €1.5m
- Tangible fixed assets +€361,952
up €361,952 (+112%), from €324,557 to €686,510
- Reserves +€478,023
up €478,023 (+417%), from €114,497 to €592,520
of which Tax-exempt reserves: +€478,023
- Provisions +€158,829
up €158,829 (+1,493%), from €10,638 to €169,468
- Debts after one year -€68,817
down €68,817 (-18.0%), from €382,447 to €313,630
of which Financial debts: -€71,142
- Taxes -€144,873
down €144,873 (-97.6%), from €148,447 to €3,574
- Gross operating margin +€113,813
up €113,813 (+18.1%), from €629,219 to €743,032
- Financial charges +€50,113
up €50,113 (+209%), from €23,926 to €74,040
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 | €2,576,111 | €3,164,955 | +€588,844 | +22.9% |
| Fixed assets | 21/28 | €755,057 | €1,117,010 | +€361,952 | +47.9% |
| Tangible fixed assets | 22/27 | €324,557 | €686,510 | +€361,952 | +112% |
| Land and buildings | 22 | €324,557 | €686,510 | +€361,952 | +112% |
| Financial fixed assets | 28 | €430,500 | €430,500 | = | 0.0% |
| Current assets | 29/58 | €1,821,054 | €2,047,945 | +€226,891 | +12.5% |
| Amounts receivable within one year | 40/41 | €1,145,466 | €1,543,094 | +€397,629 | +34.7% |
| Other amounts receivable | 41 | €1,145,466 | €1,543,094 | +€397,629 | +34.7% |
| Current investments | 50/53 | - | €489,152 | +€489,152 | |
| Cash at bank and in hand | 54/58 | €675,588 | €12,769 | -€662,819 | -98.1% |
| Deferred charges and accrued income | 490/1 | - | €2,930 | +€2,930 | |
| Total equity and liabilities | 10/49 | €2,576,111 | €3,164,955 | +€588,844 | +22.9% |
| Equity | 10/15 | €2,003,994 | €2,490,484 | +€486,490 | +24.3% |
| Contributions | 10/11 | €548,340 | €548,340 | = | 0.0% |
| Capital | 10 | €548,340 | €548,340 | = | 0.0% |
| Issued capital | 100 | €548,340 | €548,340 | = | 0.0% |
| Reserves | 13 | €114,497 | €592,520 | +€478,023 | +417% |
| Non-distributable reserves | 130/1 | €54,834 | €54,834 | = | 0.0% |
| Legal reserve | 130 | €54,834 | €54,834 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,663 | €498,686 | +€478,023 | +2,313% |
| Distributable reserves | 133 | €39,000 | €39,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,341,156 | €1,349,623 | +€8,467 | +0.6% |
| Provisions and deferred taxes | 16 | €10,638 | €169,468 | +€158,829 | +1,493% |
| Deferred taxes | 168 | €10,638 | €169,468 | +€158,829 | +1,493% |
| Amounts payable | 17/49 | €561,479 | €505,003 | -€56,476 | -10.1% |
| Amounts payable after more than one year | 17 | €382,447 | €313,630 | -€68,817 | -18.0% |
| Financial debts | 170/4 | €382,447 | €311,305 | -€71,142 | -18.6% |
| Other amounts payable | 178/9 | - | €2,325 | +€2,325 | |
| Amounts payable within one year | 42/48 | €177,238 | €188,986 | +€11,748 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €68,632 | €71,142 | +€2,511 | +3.7% |
| Trade debts | 44 | €2,797 | €695 | -€2,102 | -75.1% |
| Suppliers | 440/4 | €2,797 | €695 | -€2,102 | -75.1% |
| Taxes, remuneration and social security | 45 | €5,745 | €2,125 | -€3,620 | -63.0% |
| Taxes | 450/3 | €5,745 | €2,125 | -€3,620 | -63.0% |
| Other amounts payable | 47/48 | €100,064 | €115,023 | +€14,959 | +14.9% |
| Accrued charges and deferred income | 492/3 | €1,795 | €2,388 | +€593 | +33.0% |
| Non-recurring operating income | 76A | €577,625 | - | -€577,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,139 | €33,635 | +€5,496 | +19.5% |
| Other operating charges | 640/8 | €1,140 | - | -€1,140 | |
| Gross operating margin | 9900 | €629,219 | €743,032 | +€113,813 | +18.1% |
| Operating profit (loss) | 9901 | €599,939 | €709,397 | +€109,458 | +18.2% |
| Financial income | 75/76B | €13,046 | €13,537 | +€490 | +3.8% |
| Recurring financial income | 75 | €13,046 | €13,537 | +€490 | +3.8% |
| Financial charges | 65/66B | €23,926 | €74,040 | +€50,113 | +209% |
| Recurring financial charges | 65 | €23,926 | €74,040 | +€50,113 | +209% |
| Profit (loss) for the period before taxes | 9903 | €589,059 | €648,894 | +€59,835 | +10.2% |
| Transfer from deferred taxes | 780 | €1,451 | €3,382 | +€1,931 | +133% |
| Transfer to deferred taxes | 680 | - | €162,211 | +€162,211 | |
| Income taxes | 67/77 | €148,447 | €3,574 | -€144,873 | -97.6% |
| Profit (loss) for the period | 9904 | €442,063 | €486,490 | +€44,427 | +10.0% |
| Transfer from tax-exempt reserves | 789 | €2,818 | €8,610 | +€5,793 | +206% |
| Transfer to tax-exempt reserves | 689 | - | €486,633 | +€486,633 | |
| Profit (loss) for the period to be appropriated | 9905 | €444,881 | €8,467 | -€436,414 | -98.1% |
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 16 October 2026 via checked.be.