MXpert: 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.
MXpert
Largest movements
- Cash +€106,879
up €106,879 (+63.8%), from €167,573 to €274,451
mainly Other debts (+€287,222) and Net result for the year (+€109,917)
- Tangible fixed assets -€33,603
down €33,603 (-9.3%), from €362,364 to €328,762
of which Land and buildings: -€16,911
- Receivables within one year -€22,349
down €22,349 (-22.2%), from €100,583 to €78,234
of which Trade receivables: -€15,062
- Current investments +€22,150
up €22,150 (+49.2%), from €44,993 to €67,143
- Other debts +€287,222
up €287,222 (+2,895%), from €9,921 to €297,143
- Profit (loss) carried forward -€170,108
down €170,108 (-100%), from €170,108 to €0
- Debts after one year -€28,989
down €28,989 (-13.8%), from €210,700 to €181,711
- Reserves -€20,000
down €20,000 (-8.9%), from €225,359 to €205,359
of which Distributable reserves: -€20,000
- Gross operating margin +€9,703
up €9,703 (+5.1%), from €190,370 to €200,073
- Financial charges -€3,320
down €3,320 (-31.8%), from €10,429 to €7,109
- Taxes +€2,190
up €2,190 (+6.2%), from €35,304 to €37,494
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 | €677,286 | €748,590 | +€71,304 | +10.5% |
| Fixed assets | 21/28 | €362,364 | €328,762 | -€33,603 | -9.3% |
| Tangible fixed assets | 22/27 | €362,364 | €328,762 | -€33,603 | -9.3% |
| Land and buildings | 22 | €300,499 | €283,588 | -€16,911 | -5.6% |
| Plant, machinery and equipment | 23 | €10,035 | €9,320 | -€715 | -7.1% |
| Furniture and vehicles | 24 | €51,830 | €35,853 | -€15,977 | -30.8% |
| Current assets | 29/58 | €314,922 | €419,828 | +€104,906 | +33.3% |
| Amounts receivable within one year | 40/41 | €100,583 | €78,234 | -€22,349 | -22.2% |
| Trade receivables | 40 | €61,093 | €46,032 | -€15,062 | -24.7% |
| Other amounts receivable | 41 | €39,490 | €32,202 | -€7,288 | -18.5% |
| Current investments | 50/53 | €44,993 | €67,143 | +€22,150 | +49.2% |
| Cash at bank and in hand | 54/58 | €167,573 | €274,451 | +€106,879 | +63.8% |
| Deferred charges and accrued income | 490/1 | €1,773 | €0 | -€1,773 | -100% |
| Total equity and liabilities | 10/49 | €677,286 | €748,590 | +€71,304 | +10.5% |
| Equity | 10/15 | €414,067 | €223,959 | -€190,108 | -45.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €225,359 | €205,359 | -€20,000 | -8.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €223,499 | €203,499 | -€20,000 | -8.9% |
| Profit (loss) carried forward | 14 | €170,108 | €0 | -€170,108 | -100% |
| Amounts payable | 17/49 | €263,219 | €524,631 | +€261,412 | +99.3% |
| Amounts payable after more than one year | 17 | €210,700 | €181,711 | -€28,989 | -13.8% |
| Financial debts | 170/4 | €210,700 | €181,711 | -€28,989 | -13.8% |
| Amounts payable within one year | 42/48 | €48,567 | €342,809 | +€294,242 | +606% |
| Current portion of amounts payable after more than one year | 42 | €33,862 | €28,989 | -€4,874 | -14.4% |
| Trade debts | 44 | €2,248 | €7,295 | +€5,046 | +224% |
| Suppliers | 440/4 | €2,248 | €7,295 | +€5,046 | +224% |
| Taxes, remuneration and social security | 45 | €2,535 | €9,383 | +€6,848 | +270% |
| Taxes | 450/3 | €2,535 | €9,383 | +€6,848 | +270% |
| Other amounts payable | 47/48 | €9,921 | €297,143 | +€287,222 | +2,895% |
| Accrued charges and deferred income | 492/3 | €3,952 | €111 | -€3,842 | -97.2% |
| Non-recurring operating income | 76A | - | €2,203 | +€2,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,175 | €38,684 | +€509 | +1.3% |
| Other operating charges | 640/8 | €5,058 | €6,408 | +€1,351 | +26.7% |
| Non-recurring operating charges | 66A | - | €509 | +€509 | |
| Gross operating margin | 9900 | €190,370 | €200,073 | +€9,703 | +5.1% |
| Operating profit (loss) | 9901 | €147,137 | €154,471 | +€7,334 | +5.0% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €10,429 | €7,109 | -€3,320 | -31.8% |
| Recurring financial charges | 65 | €10,429 | €7,109 | -€3,320 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €136,708 | €147,411 | +€10,702 | +7.8% |
| Income taxes | 67/77 | €35,304 | €37,494 | +€2,190 | +6.2% |
| Profit (loss) for the period | 9904 | €101,404 | €109,917 | +€8,513 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,404 | €109,917 | +€8,513 | +8.4% |
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 14 October 2026 via checked.be.