Robert den Expert: 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.
Robert den Expert
Largest movements
- Cash +€561,250
up €561,250 (+68.7%), from €817,016 to €1.4m
mainly Net result for the year (+€852,170) and Trade debts (+€294,193)
- Receivables within one year +€334,278
up €334,278 (+560%), from €59,657 to €393,934
of which Trade receivables: +€356,437
- Stocks and contracts +€79,431
up €79,431 (+27.5%), from €289,153 to €368,583
- Reserves +€638,984
up €638,984 (+62.1%), from €1.0m to €1.7m
- Trade debts +€294,193
up €294,193 (+251%), from €117,374 to €411,566
- Tax, wage and social debts +€70,030
up €70,030 (+158%), from €44,236 to €114,266
of which Taxes: +€64,400
- Gross operating margin +€782,922
up €782,922 (+136%), from €574,315 to €1.4m
- Taxes +€226,537
up €226,537 (+129%), from €176,279 to €402,817
- Staff costs +€52,554
up €52,554 (+203%), from €25,877 to €78,432
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 | €1,231,152 | €2,217,581 | +€986,429 | +80.1% |
| Fixed assets | 21/28 | €47,137 | €56,966 | +€9,829 | +20.9% |
| Intangible fixed assets | 21 | €6,066 | €230 | -€5,836 | -96.2% |
| Tangible fixed assets | 22/27 | €26,271 | €41,936 | +€15,665 | +59.6% |
| Land and buildings | 22 | €14,462 | €13,258 | -€1,204 | -8.3% |
| Plant, machinery and equipment | 23 | €6,477 | €6,459 | -€18 | -0.3% |
| Furniture and vehicles | 24 | €5,332 | €22,218 | +€16,887 | +317% |
| Financial fixed assets | 28 | €14,800 | €14,800 | = | 0.0% |
| Current assets | 29/58 | €1,184,015 | €2,160,616 | +€976,600 | +82.5% |
| Amounts receivable after more than one year | 29 | €16,061 | €16,061 | = | 0.0% |
| Other amounts receivable | 291 | €16,061 | €16,061 | = | 0.0% |
| Stocks and contracts in progress | 3 | €289,153 | €368,583 | +€79,431 | +27.5% |
| Stocks | 30/36 | €289,153 | €368,583 | +€79,431 | +27.5% |
| Amounts receivable within one year | 40/41 | €59,657 | €393,934 | +€334,278 | +560% |
| Trade receivables | 40 | €26,958 | €383,395 | +€356,437 | +1,322% |
| Other amounts receivable | 41 | €32,698 | €10,539 | -€22,159 | -67.8% |
| Cash at bank and in hand | 54/58 | €817,016 | €1,378,266 | +€561,250 | +68.7% |
| Deferred charges and accrued income | 490/1 | €2,129 | €3,771 | +€1,642 | +77.1% |
| Total equity and liabilities | 10/49 | €1,231,152 | €2,217,581 | +€986,429 | +80.1% |
| Equity | 10/15 | €1,034,415 | €1,673,399 | +€638,984 | +61.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,028,215 | €1,667,199 | +€638,984 | +62.1% |
| Distributable reserves | 133 | €1,028,215 | €1,667,199 | +€638,984 | +62.1% |
| Amounts payable | 17/49 | €196,737 | €544,182 | +€347,445 | +177% |
| Amounts payable within one year | 42/48 | €175,764 | €544,051 | +€368,288 | +210% |
| Trade debts | 44 | €117,374 | €411,566 | +€294,193 | +251% |
| Suppliers | 440/4 | €117,374 | €411,566 | +€294,193 | +251% |
| Advances received on contracts in progress | 46 | €13,960 | €17,282 | +€3,322 | +23.8% |
| Taxes, remuneration and social security | 45 | €44,236 | €114,266 | +€70,030 | +158% |
| Taxes | 450/3 | €42,214 | €106,614 | +€64,400 | +153% |
| Remuneration and social security | 454/9 | €2,022 | €7,652 | +€5,630 | +278% |
| Other amounts payable | 47/48 | €194 | €937 | +€743 | +383% |
| Accrued charges and deferred income | 492/3 | €20,974 | €131 | -€20,843 | -99.4% |
| Non-recurring operating income | 76A | - | €734 | +€734 | |
| Remuneration, social security and pensions | 62 | €25,877 | €78,432 | +€52,554 | +203% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,584 | €12,391 | +€808 | +7.0% |
| Other operating charges | 640/8 | €5,076 | €4,560 | -€516 | -10.2% |
| Non-recurring operating charges | 66A | €334 | - | -€334 | |
| Gross operating margin | 9900 | €574,315 | €1,357,237 | +€782,922 | +136% |
| Operating profit (loss) | 9901 | €531,445 | €1,261,854 | +€730,410 | +137% |
| Financial income | 75/76B | €26,854 | €19,476 | -€7,378 | -27.5% |
| Recurring financial income | 75 | €23,272 | €16,104 | -€7,169 | -30.8% |
| Non-recurring financial income | 76B | €3,582 | €3,372 | -€210 | -5.9% |
| Financial charges | 65/66B | €21,393 | €26,344 | +€4,951 | +23.1% |
| Recurring financial charges | 65 | €21,393 | €26,344 | +€4,951 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €536,906 | €1,254,987 | +€718,081 | +134% |
| Income taxes | 67/77 | €176,279 | €402,817 | +€226,537 | +129% |
| Profit (loss) for the period | 9904 | €360,627 | €852,170 | +€491,543 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €360,627 | €852,170 | +€491,543 | +136% |
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 22 October 2026 via checked.be.