Express Ezaart: 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.
Express Ezaart
Largest movements
- Current investments -€321,628
down €321,628 (-61.4%), from €523,677 to €202,049
- Stocks and contracts +€17,142
up €17,142 (+12.8%), from €133,589 to €150,730
- Receivables within one year +€14,516
up €14,516 (+17.4%), from €83,351 to €97,867
of which Other amounts receivable: +€11,749
- Tangible fixed assets -€8,881
down €8,881 (-30.0%), from €29,568 to €20,686
of which Plant, machinery and equipment: -€5,485
- Profit (loss) carried forward -€193,667
down €193,667 (-77.5%), from €250,036 to €56,369
- Tax, wage and social debts -€62,233
down €62,233 (-62.2%), from €99,996 to €37,763
of which Taxes: -€68,090
- Debts after one year -€51,603
down €51,603 (-52.8%), from €97,757 to €46,154
- Current portion of long-term debt +€10,516
up €10,516 (+23.4%), from €44,876 to €55,392
- Trade debts +€8,761
up €8,761 (+4.4%), from €198,824 to €207,586
- Staff costs -€61,789
down €61,789 (-29.1%), from €211,983 to €150,194
- Gross operating margin -€53,264
down €53,264 (-16.7%), from €319,542 to €266,278
- Financial charges +€15,965
up €15,965 (+62.3%), from €25,618 to €41,583
- Taxes +€5,832
up €5,832 (+27.8%), from €20,992 to €26,824
- Other operating charges +€4,458
up €4,458 (+164.8%), from €2,705 to €7,163
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €770,184 | €478,347 | -€291,837 | -37.9% |
| Fixed assets | 21/28 | €29,568 | €20,686 | -€8,881 | -30.0% |
| Tangible fixed assets | 22/27 | €29,568 | €20,686 | -€8,881 | -30.0% |
| Plant, machinery and equipment | 23 | €26,041 | €20,556 | -€5,485 | -21.1% |
| Furniture and vehicles | 24 | €46 | - | -€46 | |
| Other tangible fixed assets | 26 | €3,481 | €131 | -€3,350 | -96.2% |
| Current assets | 29/58 | €740,616 | €457,661 | -€282,956 | -38.2% |
| Stocks and contracts in progress | 3 | €133,589 | €150,730 | +€17,142 | +12.8% |
| Stocks | 30/36 | €133,589 | €150,730 | +€17,142 | +12.8% |
| Amounts receivable within one year | 40/41 | €83,351 | €97,867 | +€14,516 | +17.4% |
| Trade receivables | 40 | - | €2,768 | +€2,768 | |
| Other amounts receivable | 41 | €83,351 | €95,099 | +€11,749 | +14.1% |
| Current investments | 50/53 | €523,677 | €202,049 | -€321,628 | -61.4% |
| Deferred charges and accrued income | 490/1 | - | €7,014 | +€7,014 | |
| Total equity and liabilities | 10/49 | €770,184 | €478,347 | -€291,837 | -37.9% |
| Equity | 10/15 | €325,036 | €131,369 | -€193,667 | -59.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,036 | €56,369 | -€193,667 | -77.5% |
| Amounts payable | 17/49 | €445,148 | €346,978 | -€98,170 | -22.1% |
| Amounts payable after more than one year | 17 | €97,757 | €46,154 | -€51,603 | -52.8% |
| Financial debts | 170/4 | €97,757 | €46,154 | -€51,603 | -52.8% |
| Amounts payable within one year | 42/48 | €343,696 | €300,824 | -€42,872 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €44,876 | €55,392 | +€10,516 | +23.4% |
| Trade debts | 44 | €198,824 | €207,586 | +€8,761 | +4.4% |
| Suppliers | 440/4 | €198,824 | €207,586 | +€8,761 | +4.4% |
| Taxes, remuneration and social security | 45 | €99,996 | €37,763 | -€62,233 | -62.2% |
| Taxes | 450/3 | €74,348 | €6,259 | -€68,090 | -91.6% |
| Remuneration and social security | 454/9 | €25,647 | €31,504 | +€5,857 | +22.8% |
| Other amounts payable | 47/48 | - | €83 | +€83 | |
| Accrued charges and deferred income | 492/3 | €3,695 | - | -€3,695 | |
| Remuneration, social security and pensions | 62 | €211,983 | €150,194 | -€61,789 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,455 | €13,694 | +€239 | +1.8% |
| Other operating charges | 640/8 | €2,705 | €7,163 | +€4,458 | +164.8% |
| Gross operating margin | 9900 | €319,542 | €266,278 | -€53,264 | -16.7% |
| Operating profit (loss) | 9901 | €91,400 | €95,228 | +€3,827 | +4.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €25,618 | €41,583 | +€15,965 | +62.3% |
| Recurring financial charges | 65 | €25,618 | €41,583 | +€15,965 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | €65,784 | €53,644 | -€12,140 | -18.5% |
| Income taxes | 67/77 | €20,992 | €26,824 | +€5,832 | +27.8% |
| Profit (loss) for the period | 9904 | €44,792 | €26,820 | -€17,972 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,792 | €26,820 | -€17,972 | -40.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.