EXPRESS-TOIT: 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-TOIT
Largest movements
- Stocks and contracts +€289,408
up €289,408 (+242.0%), from €119,567 to €408,976
- Cash -€32,584
down €32,584 (-100.0%), from €32,587 to €2
mainly Stocks and contracts (-€289,408) and Investment in fixed assets (net) (-€9,546)
- Tangible fixed assets +€6,773
up €6,773 (+257.5%), from €2,631 to €9,403
of which Furniture and vehicles: +€6,476
- Short-term financial debts +€241,481
up €241,481 (+555.1%), from €43,499 to €284,980
- Trade debts +€32,267
up €32,267 (+96.8%), from €33,317 to €65,583
- Profit (loss) carried forward -€7,050
down €7,050 (-38.0%), from €18,550 to €11,499
- Other debts +€6,473
new in 2025: €6,473
- Gross operating margin +€46,374
up €46,374, from -€24,859 to €21,515
- Staff costs +€12,910
up €12,910 (+4548.2%), from €284 to €13,193
- Depreciation -€9,295
down €9,295 (-78.3%), from €11,868 to €2,574
- Financial charges +€8,776
up €8,776 (+401.4%), from €2,186 to €10,962
- Financial income +€593
up €593 (+181.4%), from €327 to €920
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 | €200,494 | €471,990 | +€271,497 | +135.4% |
| Fixed assets | 21/28 | €2,631 | €9,603 | +€6,973 | +265.1% |
| Tangible fixed assets | 22/27 | €2,631 | €9,403 | +€6,773 | +257.5% |
| Plant, machinery and equipment | 23 | €2,631 | €2,928 | +€297 | +11.3% |
| Furniture and vehicles | 24 | - | €6,476 | +€6,476 | |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €197,863 | €462,387 | +€264,524 | +133.7% |
| Stocks and contracts in progress | 3 | €119,567 | €408,976 | +€289,408 | +242.0% |
| Stocks | 30/36 | €119,567 | €408,976 | +€289,408 | +242.0% |
| Amounts receivable within one year | 40/41 | €44,078 | €47,837 | +€3,759 | +8.5% |
| Trade receivables | 40 | €19,856 | €17,115 | -€2,741 | -13.8% |
| Other amounts receivable | 41 | €24,222 | €30,722 | +€6,500 | +26.8% |
| Cash at bank and in hand | 54/58 | €32,587 | €2 | -€32,584 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,631 | €5,572 | +€3,942 | +241.7% |
| Total equity and liabilities | 10/49 | €200,494 | €471,990 | +€271,497 | +135.4% |
| Equity | 10/15 | €115,228 | €108,178 | -€7,050 | -6.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €76,219 | €76,219 | = | 0.0% |
| Distributable reserves | 133 | €76,219 | €76,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,550 | €11,499 | -€7,050 | -38.0% |
| Amounts payable | 17/49 | €85,265 | €363,812 | +€278,547 | +326.7% |
| Amounts payable within one year | 42/48 | €84,974 | €363,812 | +€278,838 | +328.1% |
| Current portion of amounts payable after more than one year | 42 | €6,650 | €2,566 | -€4,084 | -61.4% |
| Financial debts | 43 | €43,499 | €284,980 | +€241,481 | +555.1% |
| Credit institutions | 430/8 | €43,499 | €284,980 | +€241,481 | +555.1% |
| Trade debts | 44 | €33,317 | €65,583 | +€32,267 | +96.8% |
| Suppliers | 440/4 | €33,317 | €65,583 | +€32,267 | +96.8% |
| Taxes, remuneration and social security | 45 | €1,508 | €4,210 | +€2,702 | +179.2% |
| Remuneration and social security | 454/9 | €1,508 | €4,210 | +€2,702 | +179.2% |
| Other amounts payable | 47/48 | - | €6,473 | +€6,473 | |
| Accrued charges and deferred income | 492/3 | €291 | - | -€291 | |
| Remuneration, social security and pensions | 62 | €284 | €13,193 | +€12,910 | +4548.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,868 | €2,574 | -€9,295 | -78.3% |
| Other operating charges | 640/8 | €2,815 | €2,330 | -€485 | -17.2% |
| Gross operating margin | 9900 | -€24,859 | €21,515 | +€46,374 | |
| Operating profit (loss) | 9901 | -€39,827 | €3,418 | +€43,244 | |
| Financial income | 75/76B | €327 | €920 | +€593 | +181.4% |
| Recurring financial income | 75 | €327 | €920 | +€593 | +181.4% |
| Financial charges | 65/66B | €2,186 | €10,962 | +€8,776 | +401.4% |
| Recurring financial charges | 65 | €2,186 | €10,962 | +€8,776 | +401.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,686 | -€6,625 | +€35,061 | +84.1% |
| Income taxes | 67/77 | €351 | €425 | +€74 | +21.0% |
| Profit (loss) for the period | 9904 | -€42,038 | -€7,050 | +€34,987 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,038 | -€7,050 | +€34,987 | +83.2% |
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 9 October 2026 via checked.be.