Express Global: 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.
Express Global
Largest movements
- Receivables within one year -€1.8m
down €1.8m (-63.3%), from €2.8m to €1.0m
of which Trade receivables: -€1.7m
- Cash -€121,828
down €121,828 (-63.4%), from €192,056 to €70,228
mainly Trade debts (-€1.9m) and Net result for the year (-€363,680)
- Trade debts -€1.9m
down €1.9m (-78.4%), from €2.5m to €530,535
- Profit (loss) carried forward -€363,680
down €363,680 (-75.2%), from -€483,848 to -€847,528
- Accrued charges and deferred income +€303,673
up €303,673 (+835.3%), from €36,357 to €340,030
- Debts after one year +€110,000
up €110,000 (+28.2%), from €390,000 to €500,000
- Tax, wage and social debts -€38,188
down €38,188 (-28.7%), from €132,996 to €94,808
of which Remuneration and social security: -€41,512
- Staff costs -€332,031
down €332,031 (-32.1%), from €1.0m to €701,480
- Gross operating margin -€331,380
down €331,380 (-43.0%), from €770,135 to €438,755
- Financial charges -€23,585
down €23,585 (-43.4%), from €54,356 to €30,771
- Write-downs -€12,941
down €12,941 (-100.0%), from €12,941 to €0
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 | €3,033,991 | €1,122,845 | -€1.9m | -63.0% |
| Fixed assets | 21/28 | €31,045 | €20,205 | -€10,839 | -34.9% |
| Tangible fixed assets | 22/27 | €25,105 | €14,265 | -€10,839 | -43.2% |
| Plant, machinery and equipment | 23 | €20,073 | €10,347 | -€9,727 | -48.5% |
| Furniture and vehicles | 24 | €5,031 | €3,919 | -€1,112 | -22.1% |
| Financial fixed assets | 28 | €5,940 | €5,940 | = | 0.0% |
| Current assets | 29/58 | €3,002,947 | €1,102,640 | -€1.9m | -63.3% |
| Amounts receivable within one year | 40/41 | €2,808,612 | €1,030,816 | -€1.8m | -63.3% |
| Trade receivables | 40 | €2,763,174 | €1,030,439 | -€1.7m | -62.7% |
| Other amounts receivable | 41 | €45,438 | €377 | -€45,061 | -99.2% |
| Cash at bank and in hand | 54/58 | €192,056 | €70,228 | -€121,828 | -63.4% |
| Deferred charges and accrued income | 490/1 | €2,279 | €1,597 | -€683 | -30.0% |
| Total equity and liabilities | 10/49 | €3,033,991 | €1,122,845 | -€1.9m | -63.0% |
| Equity | 10/15 | -€463,848 | -€827,528 | -€363,680 | -78.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€483,848 | -€847,528 | -€363,680 | -75.2% |
| Amounts payable | 17/49 | €3,497,839 | €1,950,373 | -€1.5m | -44.2% |
| Amounts payable after more than one year | 17 | €390,000 | €500,000 | +€110,000 | +28.2% |
| Other amounts payable | 178/9 | €390,000 | €500,000 | +€110,000 | +28.2% |
| Amounts payable within one year | 42/48 | €3,071,482 | €1,110,343 | -€2.0m | -63.8% |
| Financial debts | 43 | €485,000 | €485,000 | = | 0.0% |
| Credit institutions | 430/8 | €485,000 | €485,000 | = | 0.0% |
| Trade debts | 44 | €2,453,486 | €530,535 | -€1.9m | -78.4% |
| Suppliers | 440/4 | €2,453,486 | €530,535 | -€1.9m | -78.4% |
| Taxes, remuneration and social security | 45 | €132,996 | €94,808 | -€38,188 | -28.7% |
| Taxes | 450/3 | €21,865 | €25,189 | +€3,324 | +15.2% |
| Remuneration and social security | 454/9 | €111,131 | €69,619 | -€41,512 | -37.4% |
| Accrued charges and deferred income | 492/3 | €36,357 | €340,030 | +€303,673 | +835.3% |
| Remuneration, social security and pensions | 62 | €1,033,511 | €701,480 | -€332,031 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,534 | €10,839 | -€694 | -6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,941 | €0 | -€12,941 | -100.0% |
| Other operating charges | 640/8 | €1,852 | €706 | -€1,146 | -61.9% |
| Non-recurring operating charges | 66A | - | €59,039 | +€59,039 | |
| Gross operating margin | 9900 | €770,135 | €438,755 | -€331,380 | -43.0% |
| Operating profit (loss) | 9901 | -€289,702 | -€333,308 | -€43,607 | -15.1% |
| Financial income | 75/76B | €892 | €400 | -€492 | -55.2% |
| Recurring financial income | 75 | €892 | €400 | -€492 | -55.2% |
| Financial charges | 65/66B | €54,356 | €30,771 | -€23,585 | -43.4% |
| Recurring financial charges | 65 | €54,356 | €30,771 | -€23,585 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | -€343,166 | -€363,680 | -€20,514 | -6.0% |
| Income taxes | 67/77 | -€108 | €0 | +€108 | |
| Profit (loss) for the period | 9904 | -€343,057 | -€363,680 | -€20,623 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€343,057 | -€363,680 | -€20,623 | -6.0% |
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 29 September 2026 via checked.be.