Express Froissart: 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 Froissart
Largest movements
- Receivables within one year +€180,789
up €180,789 (+63.5%), from €284,694 to €465,483
of which Other amounts receivable: +€178,599
- Tangible fixed assets +€44,194
up €44,194 (+2.8%), from €1.6m to €1.6m
of which Other tangible fixed assets: +€113,500
- Trade debts +€106,616
up €106,616 (+30.5%), from €349,940 to €456,556
- Other debts +€80,152
up €80,152 (+52.0%), from €154,028 to €234,180
- Staff costs +€27,069
up €27,069 (+18.3%), from €148,143 to €175,211
- Financial charges +€14,045
up €14,045 (+30.8%), from €45,673 to €59,718
- Gross operating margin +€10,500
up €10,500 (+2.3%), from €460,879 to €471,379
- Other operating charges +€6,309
up €6,309 (+106%), from €5,945 to €12,254
- Depreciation +€4,766
up €4,766 (+6.1%), from €77,536 to €82,302
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 | €1,972,584 | €2,182,775 | +€210,191 | +10.7% |
| Fixed assets | 21/28 | €1,559,072 | €1,603,267 | +€44,194 | +2.8% |
| Tangible fixed assets | 22/27 | €1,559,072 | €1,603,267 | +€44,194 | +2.8% |
| Land and buildings | 22 | €1,469,746 | €1,410,706 | -€59,039 | -4.0% |
| Plant, machinery and equipment | 23 | €84,203 | €74,913 | -€9,290 | -11.0% |
| Furniture and vehicles | 24 | €5,124 | €4,147 | -€976 | -19.1% |
| Other tangible fixed assets | 26 | - | €113,500 | +€113,500 | |
| Current assets | 29/58 | €413,512 | €579,508 | +€165,996 | +40.1% |
| Stocks and contracts in progress | 3 | €74,148 | €73,236 | -€912 | -1.2% |
| Stocks | 30/36 | €74,148 | €73,236 | -€912 | -1.2% |
| Amounts receivable within one year | 40/41 | €284,694 | €465,483 | +€180,789 | +63.5% |
| Trade receivables | 40 | €6,263 | €8,453 | +€2,190 | +35.0% |
| Other amounts receivable | 41 | €278,430 | €457,030 | +€178,599 | +64.1% |
| Cash at bank and in hand | 54/58 | €40,365 | €24,218 | -€16,148 | -40.0% |
| Deferred charges and accrued income | 490/1 | €14,305 | €16,571 | +€2,266 | +15.8% |
| Total equity and liabilities | 10/49 | €1,972,584 | €2,182,775 | +€210,191 | +10.7% |
| Equity | 10/15 | €423,685 | €415,730 | -€7,955 | -1.9% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,996 | €165,807 | +€10,811 | +7.0% |
| Investment grants | 15 | €208,689 | €189,923 | -€18,765 | -9.0% |
| Amounts payable | 17/49 | €1,548,899 | €1,767,045 | +€218,146 | +14.1% |
| Amounts payable after more than one year | 17 | €848,224 | €849,173 | +€949 | +0.1% |
| Financial debts | 170/4 | €848,224 | €849,173 | +€949 | +0.1% |
| Amounts payable within one year | 42/48 | €624,444 | €833,004 | +€208,559 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €96,301 | €112,654 | +€16,353 | +17.0% |
| Trade debts | 44 | €349,940 | €456,556 | +€106,616 | +30.5% |
| Suppliers | 440/4 | €349,940 | €456,556 | +€106,616 | +30.5% |
| Taxes, remuneration and social security | 45 | €24,174 | €29,613 | +€5,438 | +22.5% |
| Taxes | 450/3 | €12,208 | €2,209 | -€9,998 | -81.9% |
| Remuneration and social security | 454/9 | €11,967 | €27,404 | +€15,437 | +129% |
| Other amounts payable | 47/48 | €154,028 | €234,180 | +€80,152 | +52.0% |
| Accrued charges and deferred income | 492/3 | €76,231 | €84,868 | +€8,637 | +11.3% |
| Remuneration, social security and pensions | 62 | €148,143 | €175,211 | +€27,069 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,536 | €82,302 | +€4,766 | +6.1% |
| Other operating charges | 640/8 | €5,945 | €12,254 | +€6,309 | +106% |
| Gross operating margin | 9900 | €460,879 | €471,379 | +€10,500 | +2.3% |
| Operating profit (loss) | 9901 | €229,255 | €201,612 | -€27,643 | -12.1% |
| Financial income | 75/76B | €19,757 | €19,326 | -€431 | -2.2% |
| Recurring financial income | 75 | €19,757 | €19,326 | -€431 | -2.2% |
| Financial charges | 65/66B | €45,673 | €59,718 | +€14,045 | +30.8% |
| Recurring financial charges | 65 | €45,673 | €59,718 | +€14,045 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €203,339 | €161,220 | -€42,120 | -20.7% |
| Income taxes | 67/77 | €3,163 | €409 | -€2,754 | -87.1% |
| Profit (loss) for the period | 9904 | €200,176 | €160,811 | -€39,365 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €200,176 | €160,811 | -€39,365 | -19.7% |
Source: filed annual accounts (NBB), financial years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.