XPAND: 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.
XPAND
Largest movements
- Cash -€74,130
down €74,130 (-27.2%), from €272,188 to €198,058
mainly Investment in fixed assets (net) (-€28,715) and Trade debts (-€25,038)
- Tangible fixed assets +€28,567
new in 2025: €28,567
of which Furniture and vehicles: +€24,986
- Receivables within one year +€14,133
up €14,133 (+8.9%), from €158,872 to €173,005
of which Other amounts receivable: +€53,889
- Trade debts -€25,038
down €25,038 (-45.8%), from €54,615 to €29,578
- Reserves -€7,000
down €7,000 (-1.7%), from €407,816 to €400,816
of which Distributable reserves: -€7,000
- Other debts +€4,650
up €4,650 (+193.8%), from €2,400 to €7,050
- Profit (loss) carried forward -€4,428
down €4,428 (-12.0%), from -€36,815 to -€41,243
- Gross operating margin +€6,201
up €6,201 (+51.8%), from -€11,977 to -€5,776
- Financial income -€3,045
down €3,045 (-63.5%), from €4,798 to €1,753
- Taxes -€1,909
down €1,909, from €1,180 to -€730
- Financial charges +€630
up €630 (+315.6%), from €200 to €830
- Other operating charges -€445
down €445 (-73.9%), from €602 to €157
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 | €431,059 | €399,630 | -€31,430 | -7.3% |
| Fixed assets | 21/28 | - | €28,567 | +€28,567 | |
| Tangible fixed assets | 22/27 | - | €28,567 | +€28,567 | |
| Land and buildings | 22 | - | €3,580 | +€3,580 | |
| Furniture and vehicles | 24 | - | €24,986 | +€24,986 | |
| Current assets | 29/58 | €431,059 | €371,063 | -€59,996 | -13.9% |
| Amounts receivable within one year | 40/41 | €158,872 | €173,005 | +€14,133 | +8.9% |
| Trade receivables | 40 | €52,502 | €12,747 | -€39,755 | -75.7% |
| Other amounts receivable | 41 | €106,370 | €160,259 | +€53,889 | +50.7% |
| Cash at bank and in hand | 54/58 | €272,188 | €198,058 | -€74,130 | -27.2% |
| Total equity and liabilities | 10/49 | €431,059 | €399,630 | -€31,430 | -7.3% |
| Equity | 10/15 | €374,001 | €362,573 | -€11,428 | -3.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €407,816 | €400,816 | -€7,000 | -1.7% |
| Tax-exempt reserves | 132 | €393,316 | €393,316 | = | 0.0% |
| Distributable reserves | 133 | €14,500 | €7,500 | -€7,000 | -48.3% |
| Profit (loss) carried forward | 14 | -€36,815 | -€41,243 | -€4,428 | -12.0% |
| Amounts payable | 17/49 | €57,058 | €37,057 | -€20,001 | -35.1% |
| Amounts payable within one year | 42/48 | €57,058 | €37,057 | -€20,001 | -35.1% |
| Financial debts | 43 | - | €79 | +€79 | |
| Credit institutions | 430/8 | - | €79 | +€79 | |
| Trade debts | 44 | €54,615 | €29,578 | -€25,038 | -45.8% |
| Suppliers | 440/4 | €54,615 | €29,578 | -€25,038 | -45.8% |
| Taxes, remuneration and social security | 45 | €43 | €350 | +€307 | +708.5% |
| Taxes | 450/3 | €43 | €350 | +€307 | +708.5% |
| Other amounts payable | 47/48 | €2,400 | €7,050 | +€4,650 | +193.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €148 | +€148 | |
| Other operating charges | 640/8 | €602 | €157 | -€445 | -73.9% |
| Gross operating margin | 9900 | -€11,977 | -€5,776 | +€6,201 | +51.8% |
| Operating profit (loss) | 9901 | -€12,579 | -€6,081 | +€6,498 | +51.7% |
| Financial income | 75/76B | €4,798 | €1,753 | -€3,045 | -63.5% |
| Recurring financial income | 75 | €4,798 | €1,753 | -€3,045 | -63.5% |
| Financial charges | 65/66B | €200 | €830 | +€630 | +315.6% |
| Recurring financial charges | 65 | €200 | €830 | +€630 | +315.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,980 | -€5,158 | +€2,822 | +35.4% |
| Income taxes | 67/77 | €1,180 | -€730 | -€1,909 | |
| Profit (loss) for the period | 9904 | -€9,160 | -€4,428 | +€4,731 | +51.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,160 | -€4,428 | +€4,731 | +51.7% |
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 2 October 2026 via checked.be.