Sweet Express: 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.
Sweet Express
Largest movements
- Receivables within one year +€379,695
up €379,695 (+70.6%), from €537,897 to €917,592
of which Trade receivables: +€377,599
- Stocks and contracts +€284,142
up €284,142 (+46.0%), from €617,470 to €901,612
- Cash -€42,391
down €42,391 (-40.2%), from €105,357 to €62,966
mainly Receivables within one year (-€379,695) and Stocks and contracts (-€284,142)
- Trade debts +€468,425
up €468,425 (+59.4%), from €787,954 to €1.3m
- Other debts +€73,232
up €73,232 (+203.4%), from €36,000 to €109,232
- Current portion of long-term debt +€30,912
up €30,912 (+97.6%), from €31,674 to €62,586
- Profit (loss) carried forward +€23,740
up €23,740 (+11.0%), from €216,642 to €240,381
- Short-term financial debts +€20,422
up €20,422 (+69.5%), from €29,387 to €49,809
- Gross operating margin -€200,631
down €200,631 (-51.9%), from €386,507 to €185,876
- Other operating charges -€48,596
down €48,596 (-90.1%), from €53,941 to €5,345
- Write-downs -€39,601
no longer reported in 2025 (was €39,601)
- Staff costs -€33,715
down €33,715 (-22.9%), from €147,007 to €113,292
- Taxes -€20,976
down €20,976 (-70.0%), from €29,961 to €8,985
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 | €1,312,367 | €1,927,698 | +€615,331 | +46.9% |
| Fixed assets | 21/28 | €51,643 | €45,528 | -€6,115 | -11.8% |
| Tangible fixed assets | 22/27 | €45,780 | €39,666 | -€6,115 | -13.4% |
| Plant, machinery and equipment | 23 | €407 | - | -€407 | |
| Furniture and vehicles | 24 | €45,374 | €36,137 | -€9,237 | -20.4% |
| Other tangible fixed assets | 26 | - | €3,529 | +€3,529 | |
| Financial fixed assets | 28 | €5,863 | €5,863 | = | 0.0% |
| Current assets | 29/58 | €1,260,724 | €1,882,170 | +€621,446 | +49.3% |
| Stocks and contracts in progress | 3 | €617,470 | €901,612 | +€284,142 | +46.0% |
| Stocks | 30/36 | €617,470 | €901,612 | +€284,142 | +46.0% |
| Amounts receivable within one year | 40/41 | €537,897 | €917,592 | +€379,695 | +70.6% |
| Trade receivables | 40 | €495,250 | €872,849 | +€377,599 | +76.2% |
| Other amounts receivable | 41 | €42,647 | €44,743 | +€2,096 | +4.9% |
| Cash at bank and in hand | 54/58 | €105,357 | €62,966 | -€42,391 | -40.2% |
| Total equity and liabilities | 10/49 | €1,312,367 | €1,927,698 | +€615,331 | +46.9% |
| Equity | 10/15 | €232,642 | €256,381 | +€23,740 | +10.2% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Outside capital | 11 | €16,000 | €16,000 | = | 0.0% |
| Other | 1109/19 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,642 | €240,381 | +€23,740 | +11.0% |
| Amounts payable | 17/49 | €1,079,726 | €1,671,317 | +€591,591 | +54.8% |
| Amounts payable after more than one year | 17 | €28,795 | €46,208 | +€17,413 | +60.5% |
| Financial debts | 170/4 | €28,795 | €46,208 | +€17,413 | +60.5% |
| Amounts payable within one year | 42/48 | €1,050,931 | €1,624,874 | +€573,943 | +54.6% |
| Current portion of amounts payable after more than one year | 42 | €31,674 | €62,586 | +€30,912 | +97.6% |
| Financial debts | 43 | €29,387 | €49,809 | +€20,422 | +69.5% |
| Credit institutions | 430/8 | €29,387 | €49,809 | +€20,422 | +69.5% |
| Trade debts | 44 | €787,954 | €1,256,380 | +€468,425 | +59.4% |
| Suppliers | 440/4 | €787,954 | €1,256,380 | +€468,425 | +59.4% |
| Taxes, remuneration and social security | 45 | €165,915 | €146,866 | -€19,048 | -11.5% |
| Taxes | 450/3 | €113,892 | €116,361 | +€2,469 | +2.2% |
| Remuneration and social security | 454/9 | €52,023 | €30,506 | -€21,517 | -41.4% |
| Other amounts payable | 47/48 | €36,000 | €109,232 | +€73,232 | +203.4% |
| Accrued charges and deferred income | 492/3 | - | €235 | +€235 | |
| Remuneration, social security and pensions | 62 | €147,007 | €113,292 | -€33,715 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,883 | €23,781 | +€9,898 | +71.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,601 | - | -€39,601 | |
| Other operating charges | 640/8 | €53,941 | €5,345 | -€48,596 | -90.1% |
| Gross operating margin | 9900 | €386,507 | €185,876 | -€200,631 | -51.9% |
| Operating profit (loss) | 9901 | €132,076 | €43,458 | -€88,618 | -67.1% |
| Financial income | 75/76B | €597 | €0 | -€597 | -100.0% |
| Recurring financial income | 75 | €597 | €0 | -€597 | -100.0% |
| Financial charges | 65/66B | €8,909 | €10,733 | +€1,824 | +20.5% |
| Recurring financial charges | 65 | €8,909 | €10,733 | +€1,824 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €123,764 | €32,725 | -€91,039 | -73.6% |
| Income taxes | 67/77 | €29,961 | €8,985 | -€20,976 | -70.0% |
| Profit (loss) for the period | 9904 | €93,803 | €23,740 | -€70,063 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,803 | €23,740 | -€70,063 | -74.7% |
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 7 October 2026 via checked.be.