EXPRESCO: 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.
EXPRESCO
Largest movements
- Receivables within one year +€269,295
up €269,295 (+64.2%), from €419,639 to €688,934
of which Other amounts receivable: +€264,879
- Cash -€132,700
down €132,700 (-50.8%), from €261,140 to €128,441
mainly Receivables within one year (-€269,295) and Trade debts (-€51,322)
- Deferred charges and accrued income +€15,385
up €15,385 (+15.4%), from €99,608 to €114,993
- Tangible fixed assets -€15,306
down €15,306 (-6.9%), from €221,145 to €205,840
- Profit (loss) carried forward +€163,297
up €163,297 (+72.6%), from €224,781 to €388,078
- Trade debts -€51,322
down €51,322 (-76.7%), from €66,901 to €15,579
- Tax, wage and social debts +€20,147
up €20,147, from €0 to €20,147
- Write-downs -€79,728
down €79,728 (-100.0%), from €79,728 to €0
- Gross operating margin -€64,401
down €64,401 (-21.1%), from €305,190 to €240,790
- Taxes +€29,264
up €29,264 (+113.1%), from €25,883 to €55,147
- Financial income +€9,411
up €9,411 (+55.5%), from €16,968 to €26,379
- Financial charges -€4,940
down €4,940 (-31.5%), from €15,677 to €10,737
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 | €1,001,532 | €1,138,207 | +€136,674 | +13.6% |
| Fixed assets | 21/28 | €221,145 | €205,840 | -€15,306 | -6.9% |
| Tangible fixed assets | 22/27 | €221,145 | €205,840 | -€15,306 | -6.9% |
| Land and buildings | 22 | €221,145 | €205,840 | -€15,306 | -6.9% |
| Current assets | 29/58 | €780,387 | €932,367 | +€151,980 | +19.5% |
| Amounts receivable within one year | 40/41 | €419,639 | €688,934 | +€269,295 | +64.2% |
| Trade receivables | 40 | - | €4,416 | +€4,416 | |
| Other amounts receivable | 41 | €419,639 | €684,518 | +€264,879 | +63.1% |
| Cash at bank and in hand | 54/58 | €261,140 | €128,441 | -€132,700 | -50.8% |
| Deferred charges and accrued income | 490/1 | €99,608 | €114,993 | +€15,385 | +15.4% |
| Total equity and liabilities | 10/49 | €1,001,532 | €1,138,207 | +€136,674 | +13.6% |
| Equity | 10/15 | €687,131 | €850,428 | +€163,297 | +23.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €338,403 | €338,403 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,440 | €39,440 | = | 0.0% |
| Legal reserve | 130 | €39,440 | €39,440 | = | 0.0% |
| Tax-exempt reserves | 132 | €62,410 | €62,410 | = | 0.0% |
| Distributable reserves | 133 | €236,553 | €236,553 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,781 | €388,078 | +€163,297 | +72.6% |
| Provisions and deferred taxes | 16 | €20,803 | €20,803 | = | 0.0% |
| Deferred taxes | 168 | €20,803 | €20,803 | = | 0.0% |
| Amounts payable | 17/49 | €293,598 | €266,976 | -€26,622 | -9.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €289,848 | €264,366 | -€25,482 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €66,901 | €15,579 | -€51,322 | -76.7% |
| Suppliers | 440/4 | €66,901 | €15,579 | -€51,322 | -76.7% |
| Taxes, remuneration and social security | 45 | €0 | €20,147 | +€20,147 | |
| Taxes | 450/3 | €0 | €20,147 | +€20,147 | |
| Other amounts payable | 47/48 | €222,947 | €228,640 | +€5,693 | +2.6% |
| Accrued charges and deferred income | 492/3 | €3,750 | €2,609 | -€1,141 | -30.4% |
| Non-recurring operating income | 76A | €83,213 | €0 | -€83,213 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,718 | €20,831 | +€112 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €79,728 | €0 | -€79,728 | -100.0% |
| Other operating charges | 640/8 | €19,288 | €17,157 | -€2,132 | -11.1% |
| Gross operating margin | 9900 | €305,190 | €240,790 | -€64,401 | -21.1% |
| Operating profit (loss) | 9901 | €185,456 | €202,802 | +€17,347 | +9.4% |
| Financial income | 75/76B | €16,968 | €26,379 | +€9,411 | +55.5% |
| Recurring financial income | 75 | €16,968 | €26,379 | +€9,411 | +55.5% |
| Financial charges | 65/66B | €15,677 | €10,737 | -€4,940 | -31.5% |
| Recurring financial charges | 65 | €15,677 | €10,737 | -€4,940 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €186,747 | €218,444 | +€31,698 | +17.0% |
| Transfer to deferred taxes | 680 | €20,803 | €0 | -€20,803 | -100.0% |
| Income taxes | 67/77 | €25,883 | €55,147 | +€29,264 | +113.1% |
| Profit (loss) for the period | 9904 | €140,060 | €163,297 | +€23,237 | +16.6% |
| Transfer to tax-exempt reserves | 689 | €62,410 | €0 | -€62,410 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,650 | €163,297 | +€85,647 | +110.3% |
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.