MANAGEMENT EXPERTS TEAM: 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.
MANAGEMENT EXPERTS TEAM
Largest movements
- Cash -€5,005
down €5,005 (-17.5%), from €28,595 to €23,590
mainly Other debts (-€160,000) and Investment in fixed assets (net) (-€36,985)
- Other debts -€160,000
down €160,000 (-57.1%), from €280,178 to €120,178
- Profit (loss) carried forward +€88,895
up €88,895, from -€34,323 to €54,572
- Debts after one year +€64,919
new in 2025: €64,919
- Gross operating margin +€109,496
up €109,496 (+317%), from €34,502 to €143,997
- Other operating charges +€11,220
up €11,220 (+159%), from €7,049 to €18,269
- Depreciation -€7,826
down €7,826 (-18.2%), from €42,997 to €35,172
- Financial charges +€2,505
up €2,505 (+525%), from €477 to €2,982
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 | €328,370 | €324,693 | -€3,677 | -1.1% |
| Fixed assets | 21/28 | €267,934 | €269,747 | +€1,813 | +0.7% |
| Tangible fixed assets | 22/27 | €267,934 | €269,747 | +€1,813 | +0.7% |
| Land and buildings | 22 | €226,857 | €223,983 | -€2,874 | -1.3% |
| Furniture and vehicles | 24 | €39,588 | €44,772 | +€5,184 | +13.1% |
| Other tangible fixed assets | 26 | €1,488 | €992 | -€496 | -33.3% |
| Current assets | 29/58 | €60,436 | €54,946 | -€5,490 | -9.1% |
| Amounts receivable within one year | 40/41 | €31,352 | €30,607 | -€746 | -2.4% |
| Trade receivables | 40 | €8,853 | €2,112 | -€6,741 | -76.1% |
| Other amounts receivable | 41 | €22,499 | €28,495 | +€5,996 | +26.6% |
| Cash at bank and in hand | 54/58 | €28,595 | €23,590 | -€5,005 | -17.5% |
| Deferred charges and accrued income | 490/1 | €489 | €749 | +€260 | +53.3% |
| Total equity and liabilities | 10/49 | €328,370 | €324,693 | -€3,677 | -1.1% |
| Equity | 10/15 | €33,877 | €122,772 | +€88,895 | +262% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,323 | €54,572 | +€88,895 | |
| Amounts payable | 17/49 | €294,492 | €201,921 | -€92,572 | -31.4% |
| Amounts payable after more than one year | 17 | - | €64,919 | +€64,919 | |
| Financial debts | 170/4 | - | €64,919 | +€64,919 | |
| Amounts payable within one year | 42/48 | €293,292 | €134,001 | -€159,291 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €3,179 | €6,433 | +€3,254 | +102% |
| Trade debts | 44 | €4,958 | €5,121 | +€163 | +3.3% |
| Suppliers | 440/4 | €4,958 | €5,121 | +€163 | +3.3% |
| Taxes, remuneration and social security | 45 | €4,977 | €2,269 | -€2,708 | -54.4% |
| Taxes | 450/3 | €4,977 | €2,269 | -€2,708 | -54.4% |
| Other amounts payable | 47/48 | €280,178 | €120,178 | -€160,000 | -57.1% |
| Accrued charges and deferred income | 492/3 | €1,200 | €3,001 | +€1,801 | +150% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,997 | €35,172 | -€7,826 | -18.2% |
| Other operating charges | 640/8 | €7,049 | €18,269 | +€11,220 | +159% |
| Gross operating margin | 9900 | €34,502 | €143,997 | +€109,496 | +317% |
| Operating profit (loss) | 9901 | -€15,544 | €90,557 | +€106,101 | |
| Financial income | 75/76B | €1,369 | €1,635 | +€267 | +19.5% |
| Recurring financial income | 75 | €1,369 | €1,635 | +€267 | +19.5% |
| Financial charges | 65/66B | €477 | €2,982 | +€2,505 | +525% |
| Recurring financial charges | 65 | €477 | €2,982 | +€2,505 | +525% |
| Profit (loss) for the period before taxes | 9903 | -€14,653 | €89,210 | +€103,863 | |
| Income taxes | 67/77 | €338 | €315 | -€23 | -6.8% |
| Profit (loss) for the period | 9904 | -€14,991 | €88,895 | +€103,886 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,991 | €88,895 | +€103,886 |
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.