NET EXPAT: 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.
NET EXPAT
Largest movements
- Cash -€57,906
down €57,906 (-3.5%), from €1.7m to €1.6m
mainly Contributions, distributions and other (-€600,000) and Tax, wage and social debts (-€118,075)
- Receivables within one year -€44,279
down €44,279 (-4.5%), from €976,387 to €932,108
of which Trade receivables: -€32,825
- Tax, wage and social debts -€118,075
down €118,075 (-25.8%), from €457,088 to €339,014
of which Taxes: -€131,179
- Other debts +€71,029
up €71,029 (+20.7%), from €343,015 to €414,043
- Financial income +€611,883
up €611,883 (+3152.0%), from €19,413 to €631,295
- Gross operating margin -€387,557
down €387,557 (-16.0%), from €2.4m to €2.0m
- Staff costs +€56,141
up €56,141 (+3.2%), from €1.8m to €1.8m
- Taxes -€53,988
down €53,988 (-44.8%), from €120,438 to €66,450
- Financial charges +€47,292
up €47,292 (+46.8%), from €101,156 to €148,448
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 | €2,754,563 | €2,665,537 | -€89,026 | -3.2% |
| Fixed assets | 21/28 | €50,846 | €65,595 | +€14,749 | +29.0% |
| Intangible fixed assets | 21 | €3,252 | €17,846 | +€14,594 | +448.7% |
| Tangible fixed assets | 22/27 | €627 | €782 | +€155 | +24.8% |
| Furniture and vehicles | 24 | €627 | €782 | +€155 | +24.8% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €46,967 | €46,967 | = | 0.0% |
| Current assets | 29/58 | €2,703,716 | €2,599,941 | -€103,775 | -3.8% |
| Amounts receivable within one year | 40/41 | €976,387 | €932,108 | -€44,279 | -4.5% |
| Trade receivables | 40 | €893,525 | €860,701 | -€32,825 | -3.7% |
| Other amounts receivable | 41 | €82,862 | €71,407 | -€11,455 | -13.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,671,286 | €1,613,380 | -€57,906 | -3.5% |
| Deferred charges and accrued income | 490/1 | €56,043 | €54,454 | -€1,590 | -2.8% |
| Total equity and liabilities | 10/49 | €2,754,563 | €2,665,537 | -€89,026 | -3.2% |
| Equity | 10/15 | €1,746,714 | €1,723,417 | -€23,298 | -1.3% |
| 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 | €1,678,514 | €1,655,217 | -€23,298 | -1.4% |
| Amounts payable | 17/49 | €1,007,848 | €942,120 | -€65,729 | -6.5% |
| Amounts payable within one year | 42/48 | €1,000,318 | €930,607 | -€69,712 | -7.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €200,215 | €177,550 | -€22,666 | -11.3% |
| Suppliers | 440/4 | €200,215 | €177,550 | -€22,666 | -11.3% |
| Taxes, remuneration and social security | 45 | €457,088 | €339,014 | -€118,075 | -25.8% |
| Taxes | 450/3 | €334,576 | €203,397 | -€131,179 | -39.2% |
| Remuneration and social security | 454/9 | €122,512 | €135,616 | +€13,104 | +10.7% |
| Other amounts payable | 47/48 | €343,015 | €414,043 | +€71,029 | +20.7% |
| Accrued charges and deferred income | 492/3 | €7,530 | €11,513 | +€3,983 | +52.9% |
| Non-recurring operating income | 76A | €32,225 | €0 | -€32,225 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,767,357 | €1,823,497 | +€56,141 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,910 | €1,791 | -€1,119 | -38.4% |
| Other operating charges | 640/8 | €23,884 | €45,325 | +€21,441 | +89.8% |
| Non-recurring operating charges | 66A | €11,285 | €0 | -€11,285 | -100.0% |
| Gross operating margin | 9900 | €2,418,475 | €2,030,918 | -€387,557 | -16.0% |
| Operating profit (loss) | 9901 | €613,040 | €160,305 | -€452,735 | -73.9% |
| Financial income | 75/76B | €19,413 | €631,295 | +€611,883 | +3152.0% |
| Recurring financial income | 75 | €19,413 | €631,295 | +€611,883 | +3152.0% |
| Financial charges | 65/66B | €101,156 | €148,448 | +€47,292 | +46.8% |
| Recurring financial charges | 65 | €101,156 | €148,448 | +€47,292 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €531,297 | €643,152 | +€111,856 | +21.1% |
| Income taxes | 67/77 | €120,438 | €66,450 | -€53,988 | -44.8% |
| Profit (loss) for the period | 9904 | €410,859 | €576,702 | +€165,843 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €410,859 | €576,702 | +€165,843 | +40.4% |
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.