L'EXPRESS: 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.
L'EXPRESS
Largest movements
- Tangible fixed assets -€20,462
down €20,462 (-28.8%), from €70,978 to €50,516
of which Furniture and vehicles: -€19,959
- Receivables within one year +€12,394
up €12,394 (+6.7%), from €184,198 to €196,592
of which Other amounts receivable: +€12,195
- Cash -€6,750
down €6,750 (-26.8%), from €25,148 to €18,397
mainly Debts after one year (-€15,500) and Receivables within one year (-€12,394)
- Debts after one year -€15,500
down €15,500 (-28.6%), from €54,248 to €38,749
- Current portion of long-term debt +€7,446
up €7,446 (+5.4%), from €138,958 to €146,403
- Tax, wage and social debts -€6,908
down €6,908 (-27.3%), from €25,324 to €18,417
of which Remuneration and social security: -€4,872
- Profit (loss) carried forward -€6,152
down €6,152 (-13.5%), from €45,741 to €39,588
- Trade debts +€5,623
up €5,623 (+64.5%), from €8,712 to €14,335
- Gross operating margin -€10,987
down €10,987 (-15.8%), from €69,551 to €58,564
- Depreciation +€9,296
up €9,296 (+83.3%), from €11,166 to €20,462
- Staff costs +€5,349
up €5,349 (+13.5%), from €39,668 to €45,017
- Taxes -€4,543
down €4,543 (-93.5%), from €4,856 to €313
- Financial charges +€3,109
up €3,109 (+82.9%), from €3,751 to €6,861
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 | €295,500 | €278,490 | -€17,011 | -5.8% |
| Fixed assets | 21/28 | €79,078 | €58,616 | -€20,462 | -25.9% |
| Tangible fixed assets | 22/27 | €70,978 | €50,516 | -€20,462 | -28.8% |
| Plant, machinery and equipment | 23 | €1,805 | €1,302 | -€503 | -27.9% |
| Furniture and vehicles | 24 | €69,174 | €49,214 | -€19,959 | -28.9% |
| Financial fixed assets | 28 | €8,100 | €8,100 | = | 0.0% |
| Current assets | 29/58 | €216,422 | €219,873 | +€3,451 | +1.6% |
| Stocks and contracts in progress | 3 | €307 | €325 | +€18 | +5.8% |
| Stocks | 30/36 | €307 | €325 | +€18 | +5.8% |
| Amounts receivable within one year | 40/41 | €184,198 | €196,592 | +€12,394 | +6.7% |
| Trade receivables | 40 | - | €200 | +€200 | |
| Other amounts receivable | 41 | €184,198 | €196,393 | +€12,195 | +6.6% |
| Cash at bank and in hand | 54/58 | €25,148 | €18,397 | -€6,750 | -26.8% |
| Deferred charges and accrued income | 490/1 | €6,770 | €4,559 | -€2,211 | -32.7% |
| Total equity and liabilities | 10/49 | €295,500 | €278,490 | -€17,011 | -5.8% |
| Equity | 10/15 | €66,738 | €60,586 | -€6,152 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,397 | €2,397 | = | 0.0% |
| Tax-exempt reserves | 132 | €537 | €537 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,741 | €39,588 | -€6,152 | -13.5% |
| Amounts payable | 17/49 | €228,762 | €217,904 | -€10,858 | -4.7% |
| Amounts payable after more than one year | 17 | €54,248 | €38,749 | -€15,500 | -28.6% |
| Financial debts | 170/4 | €54,248 | €38,749 | -€15,500 | -28.6% |
| Amounts payable within one year | 42/48 | €174,514 | €179,155 | +€4,641 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €138,958 | €146,403 | +€7,446 | +5.4% |
| Trade debts | 44 | €8,712 | €14,335 | +€5,623 | +64.5% |
| Suppliers | 440/4 | €8,712 | €14,335 | +€5,623 | +64.5% |
| Taxes, remuneration and social security | 45 | €25,324 | €18,417 | -€6,908 | -27.3% |
| Taxes | 450/3 | €17,692 | €15,657 | -€2,035 | -11.5% |
| Remuneration and social security | 454/9 | €7,633 | €2,760 | -€4,872 | -63.8% |
| Other amounts payable | 47/48 | €1,520 | - | -€1,520 | |
| Remuneration, social security and pensions | 62 | €39,668 | €45,017 | +€5,349 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,166 | €20,462 | +€9,296 | +83.3% |
| Other operating charges | 640/8 | €3,420 | €2,622 | -€798 | -23.3% |
| Gross operating margin | 9900 | €69,551 | €58,564 | -€10,987 | -15.8% |
| Operating profit (loss) | 9901 | €15,297 | -€9,537 | -€24,834 | |
| Financial income | 75/76B | €7,609 | €10,559 | +€2,950 | +38.8% |
| Recurring financial income | 75 | €7,609 | €10,559 | +€2,950 | +38.8% |
| Financial charges | 65/66B | €3,751 | €6,861 | +€3,109 | +82.9% |
| Recurring financial charges | 65 | €3,751 | €6,861 | +€3,109 | +82.9% |
| Profit (loss) for the period before taxes | 9903 | €19,155 | -€5,839 | -€24,994 | |
| Income taxes | 67/77 | €4,856 | €313 | -€4,543 | -93.5% |
| Profit (loss) for the period | 9904 | €14,299 | -€6,152 | -€20,451 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,299 | -€6,152 | -€20,451 |
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 15 October 2026 via checked.be.