VEXPERTO: 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.
VEXPERTO
Largest movements
- Receivables within one year +€67,555
up €67,555 (+160%), from €42,193 to €109,748
of which Other amounts receivable: +€71,325
- Cash -€9,109
down €9,109 (-41.6%), from €21,882 to €12,773
mainly Receivables within one year (-€67,555) and Deferred charges and accrued income (-€5,784)
- Tangible fixed assets -€8,393
down €8,393 (-75.0%), from €11,184 to €2,791
- Deferred charges and accrued income +€5,784
up €5,784 (+1,559%), from €371 to €6,155
- Profit (loss) carried forward +€32,931
up €32,931 (+115%), from €28,614 to €61,545
- Debts after one year +€32,362
up €32,362 (+242%), from €13,394 to €45,756
- Tax, wage and social debts -€4,899
down €4,899 (-28.9%), from €16,954 to €12,055
of which Taxes: -€2,596
- Current portion of long-term debt -€3,195
down €3,195 (-33.8%), from €9,444 to €6,249
- Trade debts -€1,597
down €1,597 (-42.1%), from €3,797 to €2,200
- Gross operating margin +€19,283
up €19,283 (+57.3%), from €33,654 to €52,937
- Depreciation -€12,897
down €12,897 (-84.4%), from €15,274 to €2,378
- Taxes +€4,044
up €4,044 (+96.1%), from €4,210 to €8,254
- Other operating charges +€1,421
up €1,421 (+17.1%), from €8,322 to €9,743
- Financial income +€1,275
up €1,275 (+114%), from €1,114 to €2,389
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 | €76,203 | €131,805 | +€55,602 | +73.0% |
| Formation expenses | 20 | €573 | €337 | -€236 | -41.2% |
| Fixed assets | 21/28 | €11,184 | €2,791 | -€8,393 | -75.0% |
| Tangible fixed assets | 22/27 | €11,184 | €2,791 | -€8,393 | -75.0% |
| Furniture and vehicles | 24 | €11,184 | €2,791 | -€8,393 | -75.0% |
| Current assets | 29/58 | €64,446 | €128,677 | +€64,231 | +99.7% |
| Amounts receivable within one year | 40/41 | €42,193 | €109,748 | +€67,555 | +160% |
| Trade receivables | 40 | €17,793 | €14,023 | -€3,770 | -21.2% |
| Other amounts receivable | 41 | €24,400 | €95,726 | +€71,325 | +292% |
| Cash at bank and in hand | 54/58 | €21,882 | €12,773 | -€9,109 | -41.6% |
| Deferred charges and accrued income | 490/1 | €371 | €6,155 | +€5,784 | +1,559% |
| Total equity and liabilities | 10/49 | €76,203 | €131,805 | +€55,602 | +73.0% |
| Equity | 10/15 | €32,614 | €65,545 | +€32,931 | +101% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,614 | €61,545 | +€32,931 | +115% |
| Amounts payable | 17/49 | €43,589 | €66,260 | +€22,671 | +52.0% |
| Amounts payable after more than one year | 17 | €13,394 | €45,756 | +€32,362 | +242% |
| Financial debts | 170/4 | €13,394 | €45,756 | +€32,362 | +242% |
| Amounts payable within one year | 42/48 | €30,195 | €20,504 | -€9,691 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €9,444 | €6,249 | -€3,195 | -33.8% |
| Trade debts | 44 | €3,797 | €2,200 | -€1,597 | -42.1% |
| Suppliers | 440/4 | €3,797 | €2,200 | -€1,597 | -42.1% |
| Taxes, remuneration and social security | 45 | €16,954 | €12,055 | -€4,899 | -28.9% |
| Taxes | 450/3 | €14,651 | €12,055 | -€2,596 | -17.7% |
| Remuneration and social security | 454/9 | €2,303 | €0 | -€2,303 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €189 | +€189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,274 | €2,378 | -€12,897 | -84.4% |
| Other operating charges | 640/8 | €8,322 | €9,743 | +€1,421 | +17.1% |
| Gross operating margin | 9900 | €33,654 | €52,937 | +€19,283 | +57.3% |
| Operating profit (loss) | 9901 | €10,058 | €40,816 | +€30,758 | +306% |
| Financial income | 75/76B | €1,114 | €2,389 | +€1,275 | +114% |
| Recurring financial income | 75 | €1,114 | €2,389 | +€1,275 | +114% |
| Financial charges | 65/66B | €2,067 | €2,021 | -€46 | -2.2% |
| Recurring financial charges | 65 | €2,067 | €2,021 | -€46 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €9,105 | €41,185 | +€32,079 | +352% |
| Income taxes | 67/77 | €4,210 | €8,254 | +€4,044 | +96.1% |
| Profit (loss) for the period | 9904 | €4,895 | €32,931 | +€28,035 | +573% |
| Profit (loss) for the period to be appropriated | 9905 | €4,895 | €32,931 | +€28,035 | +573% |
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 25 October 2026 via checked.be.