EXPRESS WAY: 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 WAY
Largest movements
- Tangible fixed assets -€18,332
down €18,332 (-80.7%), from €22,718 to €4,386
- Receivables after one year -€13,537
no longer reported in 2025 (was €13,537)
- Cash -€12,069
down €12,069 (-29.3%), from €41,161 to €29,092
mainly Net result for the year (-€84,724) and Other debts (-€69,000)
- Deferred charges and accrued income -€3,639
down €3,639 (-84.9%), from €4,288 to €648
- Receivables within one year -€2,981
down €2,981 (-1.7%), from €171,910 to €168,929
of which Other amounts receivable: -€6,487
- Tax, wage and social debts +€146,393
up €146,393 (+118%), from €123,918 to €270,310
of which Taxes: +€76,465
- Profit (loss) carried forward -€84,724
down €84,724 (-753%), from -€11,253 to -€95,977
- Other debts -€69,000
no longer reported in 2025 (was €69,000)
- Trade debts -€42,898
down €42,898 (-81.5%), from €52,667 to €9,770
- Gross operating margin -€83,113
down €83,113 (-18.9%), from €439,914 to €356,801
- Other operating charges +€19,642
up €19,642 (+524%), from €3,749 to €23,391
- Depreciation -€12,334
down €12,334 (-50.4%), from €24,451 to €12,117
- Staff costs +€11,841
up €11,841 (+3.1%), from €379,526 to €391,367
- Taxes +€8,097
up €8,097 (+121%), from €6,707 to €14,804
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 | €254,792 | €204,563 | -€50,229 | -19.7% |
| Fixed assets | 21/28 | €23,896 | €5,894 | -€18,002 | -75.3% |
| Tangible fixed assets | 22/27 | €22,718 | €4,386 | -€18,332 | -80.7% |
| Furniture and vehicles | 24 | €22,718 | €4,386 | -€18,332 | -80.7% |
| Financial fixed assets | 28 | €1,178 | €1,508 | +€330 | +28.0% |
| Current assets | 29/58 | €230,896 | €198,670 | -€32,226 | -14.0% |
| Amounts receivable after more than one year | 29 | €13,537 | - | -€13,537 | |
| Other amounts receivable | 291 | €13,537 | - | -€13,537 | |
| Amounts receivable within one year | 40/41 | €171,910 | €168,929 | -€2,981 | -1.7% |
| Trade receivables | 40 | €70,387 | €73,893 | +€3,506 | +5.0% |
| Other amounts receivable | 41 | €101,523 | €95,036 | -€6,487 | -6.4% |
| Cash at bank and in hand | 54/58 | €41,161 | €29,092 | -€12,069 | -29.3% |
| Deferred charges and accrued income | 490/1 | €4,288 | €648 | -€3,639 | -84.9% |
| Total equity and liabilities | 10/49 | €254,792 | €204,563 | -€50,229 | -19.7% |
| Equity | 10/15 | €9,207 | -€75,517 | -€84,724 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,253 | -€95,977 | -€84,724 | -753% |
| Amounts payable | 17/49 | €245,585 | €280,080 | +€34,495 | +14.0% |
| Amounts payable within one year | 42/48 | €245,585 | €280,080 | +€34,495 | +14.0% |
| Trade debts | 44 | €52,667 | €9,770 | -€42,898 | -81.5% |
| Suppliers | 440/4 | €52,667 | €9,770 | -€42,898 | -81.5% |
| Taxes, remuneration and social security | 45 | €123,918 | €270,310 | +€146,393 | +118% |
| Taxes | 450/3 | €57,266 | €133,731 | +€76,465 | +134% |
| Remuneration and social security | 454/9 | €66,652 | €136,579 | +€69,927 | +105% |
| Other amounts payable | 47/48 | €69,000 | - | -€69,000 | |
| Non-recurring operating income | 76A | - | €5,468 | +€5,468 | |
| Remuneration, social security and pensions | 62 | €379,526 | €391,367 | +€11,841 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,451 | €12,117 | -€12,334 | -50.4% |
| Other operating charges | 640/8 | €3,749 | €23,391 | +€19,642 | +524% |
| Non-recurring operating charges | 66A | €1,000 | - | -€1,000 | |
| Gross operating margin | 9900 | €439,914 | €356,801 | -€83,113 | -18.9% |
| Operating profit (loss) | 9901 | €31,189 | -€70,074 | -€101,262 | |
| Financial income | 75/76B | €7,523 | €5,543 | -€1,981 | -26.3% |
| Recurring financial income | 75 | €7,523 | €5,543 | -€1,981 | -26.3% |
| Financial charges | 65/66B | €5,421 | €5,389 | -€32 | -0.6% |
| Recurring financial charges | 65 | €5,421 | €5,389 | -€32 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €33,291 | -€69,920 | -€103,210 | |
| Income taxes | 67/77 | €6,707 | €14,804 | +€8,097 | +121% |
| Profit (loss) for the period | 9904 | €26,583 | -€84,724 | -€111,307 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,583 | -€84,724 | -€111,307 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.