L'EXPRESS-TABACS: 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-TABACS
Largest movements
- Cash +€75,399
up €75,399 (+47.4%), from €159,071 to €234,470
mainly Other debts (+€40,127) and Receivables within one year (+€37,034)
- Receivables within one year -€37,034
down €37,034 (-60.2%), from €61,479 to €24,444
of which Other amounts receivable: -€24,624
- Stocks and contracts -€35,217
down €35,217 (-25.9%), from €136,119 to €100,902
- Deferred charges and accrued income -€13,462
down €13,462 (-88.5%), from €15,208 to €1,746
- Tangible fixed assets -€12,625
down €12,625 (-31.3%), from €40,393 to €27,768
of which Plant, machinery and equipment: -€9,611
- Reserves -€51,000
down €51,000 (-66.0%), from €77,322 to €26,322
of which Distributable reserves: -€51,000
- Other debts +€40,127
up €40,127 (+79.6%), from €50,388 to €90,515
- Profit (loss) carried forward -€32,790
down €32,790 (-50.5%), from €64,924 to €32,134
- Trade debts +€16,262
up €16,262 (+16.4%), from €99,333 to €115,595
- Tax, wage and social debts +€4,462
up €4,462 (+55.4%), from €8,048 to €12,510
of which Remuneration and social security: +€3,288
- Turnover -€4.4m
no longer reported in 2025 (was €4.4m)
- Purchases and services -€4.4m
no longer reported in 2025 (was €4.4m)
- Gross operating margin +€55,700
up €55,700 (+71.7%), from €77,672 to €133,373
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 | €412,468 | €389,529 | -€22,939 | -5.6% |
| Fixed assets | 21/28 | €40,592 | €27,967 | -€12,625 | -31.1% |
| Tangible fixed assets | 22/27 | €40,393 | €27,768 | -€12,625 | -31.3% |
| Land and buildings | 22 | €9,188 | €4,308 | -€4,880 | -53.1% |
| Plant, machinery and equipment | 23 | €31,205 | €21,594 | -€9,611 | -30.8% |
| Furniture and vehicles | 24 | - | €1,866 | +€1,866 | |
| Financial fixed assets | 28 | €199 | €199 | = | 0.0% |
| Current assets | 29/58 | €371,877 | €361,562 | -€10,315 | -2.8% |
| Stocks and contracts in progress | 3 | €136,119 | €100,902 | -€35,217 | -25.9% |
| Stocks | 30/36 | €136,119 | €100,902 | -€35,217 | -25.9% |
| Amounts receivable within one year | 40/41 | €61,479 | €24,444 | -€37,034 | -60.2% |
| Trade receivables | 40 | €28,934 | €16,524 | -€12,411 | -42.9% |
| Other amounts receivable | 41 | €32,544 | €7,921 | -€24,624 | -75.7% |
| Cash at bank and in hand | 54/58 | €159,071 | €234,470 | +€75,399 | +47.4% |
| Deferred charges and accrued income | 490/1 | €15,208 | €1,746 | -€13,462 | -88.5% |
| Total equity and liabilities | 10/49 | €412,468 | €389,529 | -€22,939 | -5.6% |
| Equity | 10/15 | €254,700 | €170,910 | -€83,790 | -32.9% |
| Contributions | 10/11 | €112,454 | €112,454 | = | 0.0% |
| Reserves | 13 | €77,322 | €26,322 | -€51,000 | -66.0% |
| Tax-exempt reserves | 132 | €76 | €76 | = | 0.0% |
| Distributable reserves | 133 | €77,245 | €26,245 | -€51,000 | -66.0% |
| Profit (loss) carried forward | 14 | €64,924 | €32,134 | -€32,790 | -50.5% |
| Amounts payable | 17/49 | €157,769 | €218,619 | +€60,851 | +38.6% |
| Amounts payable within one year | 42/48 | €157,769 | €218,619 | +€60,851 | +38.6% |
| Trade debts | 44 | €99,333 | €115,595 | +€16,262 | +16.4% |
| Suppliers | 440/4 | €99,333 | €115,595 | +€16,262 | +16.4% |
| Taxes, remuneration and social security | 45 | €8,048 | €12,510 | +€4,462 | +55.4% |
| Taxes | 450/3 | €2 | €1,176 | +€1,174 | +72,054% |
| Remuneration and social security | 454/9 | €8,046 | €11,334 | +€3,288 | +40.9% |
| Other amounts payable | 47/48 | €50,388 | €90,515 | +€40,127 | +79.6% |
| Turnover | 70 | €4,424,484 | - | -€4.4m | |
| Non-recurring operating income | 76A | - | €15,200 | +€15,200 | |
| Goods, raw materials, services and sundry goods | 60/61 | €4,376,651 | - | -€4.4m | |
| Remuneration, social security and pensions | 62 | €41,180 | €68,051 | +€26,871 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,973 | €18,754 | -€2,218 | -10.6% |
| Other operating charges | 640/8 | €1,457 | €2,352 | +€895 | +61.4% |
| Non-recurring operating charges | 66A | - | €27,000 | +€27,000 | |
| Gross operating margin | 9900 | €77,672 | €133,373 | +€55,700 | +71.7% |
| Operating profit (loss) | 9901 | €14,062 | €17,215 | +€3,153 | +22.4% |
| Financial income | 75/76B | €260 | €582 | +€322 | +124% |
| Recurring financial income | 75 | €260 | €582 | +€322 | +124% |
| Financial charges | 65/66B | €12,296 | €10,279 | -€2,017 | -16.4% |
| Recurring financial charges | 65 | €12,296 | €10,279 | -€2,017 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €2,026 | €7,518 | +€5,492 | +271% |
| Income taxes | 67/77 | -€124 | €1,308 | +€1,432 | |
| Profit (loss) for the period | 9904 | €2,150 | €6,210 | +€4,060 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €2,150 | €6,210 | +€4,060 | +189% |
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 30 October 2026 via checked.be.