L'EXPERT: 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.
L'EXPERT
Largest movements
- Receivables within one year +€17,633
up €17,633 (+200.8%), from €8,781 to €26,413
of which Trade receivables: +€8,848
- Cash -€13,767
down €13,767 (-98.3%), from €14,002 to €235
mainly Receivables within one year (-€17,633) and Other debts (-€11,205)
- Tangible fixed assets -€8,150
down €8,150 (-25.1%), from €32,506 to €24,356
- Profit (loss) carried forward +€14,860
up €14,860 (+165.6%), from €8,975 to €23,835
- Other debts -€11,205
down €11,205 (-87.3%), from €12,835 to €1,630
- Debts after one year -€7,597
down €7,597 (-45.0%), from €16,874 to €9,276
- Tax, wage and social debts -€2,793
down €2,793 (-28.7%), from €9,723 to €6,930
of which Taxes: -€4,619
- Trade debts +€1,943
up €1,943 (+774.4%), from €251 to €2,194
- Other operating charges -€2,283
down €2,283 (-78.5%), from €2,909 to €626
- Gross operating margin -€2,120
down €2,120 (-3.5%), from €61,295 to €59,176
- Staff costs -€780
down €780 (-2.0%), from €39,170 to €38,390
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 | €56,367 | €51,862 | -€4,505 | -8.0% |
| Formation expenses | 20 | €762 | €541 | -€221 | -28.9% |
| Fixed assets | 21/28 | €32,666 | €24,516 | -€8,150 | -24.9% |
| Tangible fixed assets | 22/27 | €32,506 | €24,356 | -€8,150 | -25.1% |
| Furniture and vehicles | 24 | €32,506 | €24,356 | -€8,150 | -25.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €22,939 | €26,805 | +€3,865 | +16.9% |
| Amounts receivable within one year | 40/41 | €8,781 | €26,413 | +€17,633 | +200.8% |
| Trade receivables | 40 | €6,969 | €15,816 | +€8,848 | +127.0% |
| Other amounts receivable | 41 | €1,812 | €10,597 | +€8,785 | +484.8% |
| Cash at bank and in hand | 54/58 | €14,002 | €235 | -€13,767 | -98.3% |
| Deferred charges and accrued income | 490/1 | €157 | €157 | +€0 | +0.1% |
| Total equity and liabilities | 10/49 | €56,367 | €51,862 | -€4,505 | -8.0% |
| Equity | 10/15 | €8,975 | €23,835 | +€14,860 | +165.6% |
| Profit (loss) carried forward | 14 | €8,975 | €23,835 | +€14,860 | +165.6% |
| Amounts payable | 17/49 | €47,392 | €28,028 | -€19,364 | -40.9% |
| Amounts payable after more than one year | 17 | €16,874 | €9,276 | -€7,597 | -45.0% |
| Financial debts | 170/4 | €16,874 | €9,276 | -€7,597 | -45.0% |
| Amounts payable within one year | 42/48 | €30,095 | €18,352 | -€11,743 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €7,285 | €7,597 | +€312 | +4.3% |
| Trade debts | 44 | €251 | €2,194 | +€1,943 | +774.4% |
| Suppliers | 440/4 | €251 | €2,194 | +€1,943 | +774.4% |
| Taxes, remuneration and social security | 45 | €9,723 | €6,930 | -€2,793 | -28.7% |
| Taxes | 450/3 | €5,235 | €615 | -€4,619 | -88.2% |
| Remuneration and social security | 454/9 | €4,488 | €6,315 | +€1,826 | +40.7% |
| Other amounts payable | 47/48 | €12,835 | €1,630 | -€11,205 | -87.3% |
| Accrued charges and deferred income | 492/3 | €424 | €400 | -€24 | -5.7% |
| Non-recurring operating income | 76A | - | €394 | +€394 | |
| Remuneration, social security and pensions | 62 | €39,170 | €38,390 | -€780 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,744 | €8,370 | -€374 | -4.3% |
| Other operating charges | 640/8 | €2,909 | €626 | -€2,283 | -78.5% |
| Non-recurring operating charges | 66A | €85 | €45 | -€40 | -47.1% |
| Gross operating margin | 9900 | €61,295 | €59,176 | -€2,120 | -3.5% |
| Operating profit (loss) | 9901 | €10,386 | €11,744 | +€1,358 | +13.1% |
| Financial income | 75/76B | €16 | €1 | -€15 | -94.4% |
| Recurring financial income | 75 | €16 | €1 | -€15 | -94.4% |
| Financial charges | 65/66B | €1,410 | €955 | -€455 | -32.3% |
| Recurring financial charges | 65 | €1,410 | €955 | -€455 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €8,992 | €10,790 | +€1,798 | +20.0% |
| Income taxes | 67/77 | €4,188 | €4,530 | +€342 | +8.2% |
| Profit (loss) for the period | 9904 | €4,804 | €6,260 | +€1,456 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,804 | €6,260 | +€1,456 | +30.3% |
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 4 October 2026 via checked.be.