'Express Lientje": 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 Lientje"
Largest movements
- Tangible fixed assets -€64,207
down €64,207 (-14.3%), from €447,806 to €383,599
of which Plant, machinery and equipment: -€53,102
- Cash -€51,478
down €51,478 (-51.9%), from €99,191 to €47,713
mainly Contributions, distributions and other (-€545,294) and Debts after one year (-€70,051)
- Deferred charges and accrued income +€18,717
up €18,717 (+831%), from €2,254 to €20,971
- Receivables within one year +€17,865
up €17,865 (+5.5%), from €325,289 to €343,154
of which Other amounts receivable: +€32,927
- Other debts +€327,762
up €327,762 (+51,592%), from €635 to €328,397
- Profit (loss) carried forward -€252,230
down €252,230 (-99.1%), from €254,571 to €2,341
- Debts after one year -€70,051
down €70,051 (-29.3%), from €239,006 to €168,955
- Trade debts -€62,019
down €62,019 (-21.1%), from €293,547 to €231,528
- Tax, wage and social debts -€17,800
down €17,800 (-18.1%), from €98,558 to €80,757
of which Taxes: -€14,497
- Gross operating margin +€41,025
up €41,025 (+6.1%), from €667,940 to €708,964
- Taxes -€39,668
down €39,668 (-65.1%), from €60,926 to €21,258
- Staff costs +€33,192
up €33,192 (+12.9%), from €257,271 to €290,463
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €994,761 | €913,689 | -€81,072 | -8.1% |
| Fixed assets | 21/28 | €447,806 | €383,599 | -€64,207 | -14.3% |
| Tangible fixed assets | 22/27 | €447,806 | €383,599 | -€64,207 | -14.3% |
| Plant, machinery and equipment | 23 | €229,494 | €176,392 | -€53,102 | -23.1% |
| Furniture and vehicles | 24 | €2,388 | €10,057 | +€7,669 | +321% |
| Other tangible fixed assets | 26 | €215,923 | €197,149 | -€18,774 | -8.7% |
| Current assets | 29/58 | €546,955 | €530,090 | -€16,865 | -3.1% |
| Stocks and contracts in progress | 3 | €120,222 | €118,252 | -€1,970 | -1.6% |
| Stocks | 30/36 | €120,222 | €118,252 | -€1,970 | -1.6% |
| Amounts receivable within one year | 40/41 | €325,289 | €343,154 | +€17,865 | +5.5% |
| Trade receivables | 40 | €16,860 | €1,798 | -€15,062 | -89.3% |
| Other amounts receivable | 41 | €308,429 | €341,356 | +€32,927 | +10.7% |
| Cash at bank and in hand | 54/58 | €99,191 | €47,713 | -€51,478 | -51.9% |
| Deferred charges and accrued income | 490/1 | €2,254 | €20,971 | +€18,717 | +831% |
| Total equity and liabilities | 10/49 | €994,761 | €913,689 | -€81,072 | -8.1% |
| Equity | 10/15 | €279,936 | €27,705 | -€252,230 | -90.1% |
| Contributions | 10/11 | €25,365 | €25,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,571 | €2,341 | -€252,230 | -99.1% |
| Amounts payable | 17/49 | €714,825 | €885,984 | +€171,158 | +23.9% |
| Amounts payable after more than one year | 17 | €239,006 | €168,955 | -€70,051 | -29.3% |
| Financial debts | 170/4 | €239,006 | €168,955 | -€70,051 | -29.3% |
| Amounts payable within one year | 42/48 | €460,962 | €710,734 | +€249,773 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €68,221 | €70,051 | +€1,830 | +2.7% |
| Trade debts | 44 | €293,547 | €231,528 | -€62,019 | -21.1% |
| Suppliers | 440/4 | €293,547 | €231,528 | -€62,019 | -21.1% |
| Taxes, remuneration and social security | 45 | €98,558 | €80,757 | -€17,800 | -18.1% |
| Taxes | 450/3 | €61,565 | €47,068 | -€14,497 | -23.5% |
| Remuneration and social security | 454/9 | €36,993 | €33,689 | -€3,303 | -8.9% |
| Other amounts payable | 47/48 | €635 | €328,397 | +€327,762 | +51,592% |
| Accrued charges and deferred income | 492/3 | €14,858 | €6,295 | -€8,563 | -57.6% |
| Non-recurring operating income | 76A | €19,044 | €0 | -€19,044 | -100% |
| Remuneration, social security and pensions | 62 | €257,271 | €290,463 | +€33,192 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,294 | €84,766 | +€472 | +0.6% |
| Other operating charges | 640/8 | €7,453 | €7,421 | -€33 | -0.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €667,940 | €708,964 | +€41,025 | +6.1% |
| Operating profit (loss) | 9901 | €318,921 | €326,315 | +€7,394 | +2.3% |
| Financial income | 75/76B | €2,666 | €400 | -€2,266 | -85.0% |
| Recurring financial income | 75 | €2,666 | €400 | -€2,266 | -85.0% |
| Financial charges | 65/66B | €14,189 | €12,394 | -€1,795 | -12.7% |
| Recurring financial charges | 65 | €14,189 | €12,394 | -€1,795 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €307,398 | €314,322 | +€6,923 | +2.3% |
| Income taxes | 67/77 | €60,926 | €21,258 | -€39,668 | -65.1% |
| Profit (loss) for the period | 9904 | €246,473 | €293,064 | +€46,591 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €246,473 | €293,064 | +€46,591 | +18.9% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.