EXPRESS VELDEGEM: 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 VELDEGEM
Largest movements
- Stocks and contracts -€103,514
no longer reported in 2025 (was €103,514)
- Cash -€42,507
no longer reported in 2025 (was €42,507)
mainly Net result for the year (-€80,899) and Trade debts (-€60,677)
- Tangible fixed assets -€7,760
down €7,760 (-96.6%), from €8,035 to €275
of which Furniture and vehicles: -€5,993
- Deferred charges and accrued income -€4,820
down €4,820 (-80.4%), from €5,991 to €1,171
- Receivables within one year +€4,228
up €4,228 (+32.1%), from €13,168 to €17,396
of which Trade receivables: +€3,570
- Profit (loss) carried forward -€80,899
down €80,899 (-18.3%), from -€442,409 to -€523,308
- Trade debts -€60,677
down €60,677 (-11.1%), from €548,839 to €488,162
- Tax, wage and social debts -€17,461
down €17,461 (-97.8%), from €17,854 to €393
of which Remuneration and social security: -€17,473
- Short-term financial debts +€8,596
new in 2025: €8,596
- Other debts -€3,930
no longer reported in 2025 (was €3,930)
- Gross operating margin -€55,608
down €55,608 (-90.6%), from €61,353 to €5,745
- Staff costs -€16,479
down €16,479 (-21.9%), from €75,168 to €58,689
- Depreciation -€3,299
down €3,299 (-95.2%), from €3,467 to €168
- Financial charges -€1,572
down €1,572 (-7.8%), from €20,023 to €18,451
- Financial income +€1,429
new in 2025: €1,429
of which Non-recurring financial income: +€1,222
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 | €173,215 | €18,842 | -€154,372 | -89.1% |
| Fixed assets | 21/28 | €8,035 | €275 | -€7,760 | -96.6% |
| Tangible fixed assets | 22/27 | €8,035 | €275 | -€7,760 | -96.6% |
| Plant, machinery and equipment | 23 | €938 | - | -€938 | |
| Furniture and vehicles | 24 | €6,267 | €275 | -€5,993 | -95.6% |
| Leasing and similar rights | 25 | €829 | - | -€829 | |
| Current assets | 29/58 | €165,180 | €18,568 | -€146,612 | -88.8% |
| Stocks and contracts in progress | 3 | €103,514 | - | -€103,514 | |
| Stocks | 30/36 | €103,514 | - | -€103,514 | |
| Amounts receivable within one year | 40/41 | €13,168 | €17,396 | +€4,228 | +32.1% |
| Trade receivables | 40 | €1,004 | €4,574 | +€3,570 | +356% |
| Other amounts receivable | 41 | €12,165 | €12,822 | +€658 | +5.4% |
| Cash at bank and in hand | 54/58 | €42,507 | - | -€42,507 | |
| Deferred charges and accrued income | 490/1 | €5,991 | €1,171 | -€4,820 | -80.4% |
| Total equity and liabilities | 10/49 | €173,215 | €18,842 | -€154,372 | -89.1% |
| Equity | 10/15 | -€397,409 | -€478,308 | -€80,899 | -20.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€442,409 | -€523,308 | -€80,899 | -18.3% |
| Amounts payable | 17/49 | €570,623 | €497,150 | -€73,473 | -12.9% |
| Amounts payable within one year | 42/48 | €570,623 | €497,150 | -€73,473 | -12.9% |
| Financial debts | 43 | - | €8,596 | +€8,596 | |
| Credit institutions | 430/8 | - | €8,596 | +€8,596 | |
| Trade debts | 44 | €548,839 | €488,162 | -€60,677 | -11.1% |
| Suppliers | 440/4 | €548,839 | €488,162 | -€60,677 | -11.1% |
| Taxes, remuneration and social security | 45 | €17,854 | €393 | -€17,461 | -97.8% |
| Taxes | 450/3 | €381 | €393 | +€12 | +3.2% |
| Remuneration and social security | 454/9 | €17,473 | - | -€17,473 | |
| Other amounts payable | 47/48 | €3,930 | - | -€3,930 | |
| Remuneration, social security and pensions | 62 | €75,168 | €58,689 | -€16,479 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,467 | €168 | -€3,299 | -95.2% |
| Other operating charges | 640/8 | €1,046 | €1,163 | +€117 | +11.2% |
| Non-recurring operating charges | 66A | - | €9,210 | +€9,210 | |
| Gross operating margin | 9900 | €61,353 | €5,745 | -€55,608 | -90.6% |
| Operating profit (loss) | 9901 | -€18,329 | -€63,485 | -€45,156 | -246% |
| Financial income | 75/76B | - | €1,429 | +€1,429 | |
| Recurring financial income | 75 | - | €207 | +€207 | |
| Non-recurring financial income | 76B | - | €1,222 | +€1,222 | |
| Financial charges | 65/66B | €20,023 | €18,451 | -€1,572 | -7.8% |
| Recurring financial charges | 65 | €20,023 | €18,451 | -€1,572 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€38,351 | -€80,507 | -€42,155 | -110% |
| Income taxes | 67/77 | €381 | €393 | +€12 | +3.2% |
| Profit (loss) for the period | 9904 | -€38,732 | -€80,899 | -€42,167 | -109% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,732 | -€80,899 | -€42,167 | -109% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.