XPERT-MANAGEMENT: what changed
What changed
XPERT-MANAGEMENT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€190,639
2025 · €240,504-€49,866
Equity
€993,423
2025 · €802,784+€190,639
Cash
€669
2025 · €12,645-€11,977
Balance sheet total
€2.1m
2025 · €2.1m-€8,659
Largest movements
Assets
- Deferred charges and accrued income +€98,277
up €98,277 (+3,649%), from €2,693 to €100,970
- Receivables within one year -€94,519
down €94,519 (-39.0%), from €242,480 to €147,961
Equity and liabilities
- Reserves +€190,639
up €190,639 (+23.9%), from €796,584 to €987,223
of which Distributable reserves: +€192,499
- Debts after one year -€107,837
down €107,837 (-25.3%), from €425,476 to €317,640
- Other debts -€66,246
down €66,246 (-9.1%), from €730,263 to €664,017
- Tax, wage and social debts -€35,453
down €35,453 (-60.9%), from €58,259 to €22,806
of which Taxes: -€33,753
Income statement
- Gross operating margin -€67,095
down €67,095 (-18.9%), from €354,655 to €287,560
- Taxes -€15,346
down €15,346 (-18.2%), from €84,159 to €68,814
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€240,504
Gross operating margin
-€67,095
Other operating charges
-€1,341
Financial income
-€0
Financial charges
+€3,225
Taxes
+€15,346
Result 2026
€190,639
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€97,184
Investment
€0
Financing
-€109,160
Cash 2025
€12,645
From operations (derived)
+€97,184
Net result for the year
+€190,639
Depreciation
+€440
Receivables within one year
+€94,519
Deferred charges and accrued income
-€98,277
Trade debts
+€1,161
Tax, wage and social debts
-€35,453
Other debts
-€66,246
Accrued charges and deferred income
+€10,400
Financing
-€109,160
Debts after one year
-€107,837
Current portion of long-term debt
-€4,636
Short-term financial debts
+€3,312
Cash 2026
€669
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,143,419 | €2,134,760 | -€8,659 | -0.4% |
| Fixed assets | 21/28 | €1,875,601 | €1,875,160 | -€440 | 0.0% |
| Tangible fixed assets | 22/27 | €601 | €160 | -€440 | -73.3% |
| Furniture and vehicles | 24 | €601 | €160 | -€440 | -73.3% |
| Financial fixed assets | 28 | €1,875,000 | €1,875,000 | = | 0.0% |
| Current assets | 29/58 | €267,819 | €259,600 | -€8,219 | -3.1% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €242,480 | €147,961 | -€94,519 | -39.0% |
| Trade receivables | 40 | €242,480 | €147,961 | -€94,519 | -39.0% |
| Cash at bank and in hand | 54/58 | €12,645 | €669 | -€11,977 | -94.7% |
| Deferred charges and accrued income | 490/1 | €2,693 | €100,970 | +€98,277 | +3,649% |
| Total equity and liabilities | 10/49 | €2,143,419 | €2,134,760 | -€8,659 | -0.4% |
| Equity | 10/15 | €802,784 | €993,423 | +€190,639 | +23.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €796,584 | €987,223 | +€190,639 | +23.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €794,724 | €987,223 | +€192,499 | +24.2% |
| Amounts payable | 17/49 | €1,340,635 | €1,141,337 | -€199,298 | -14.9% |
| Amounts payable after more than one year | 17 | €425,476 | €317,640 | -€107,837 | -25.3% |
| Financial debts | 170/4 | €425,476 | €317,640 | -€107,837 | -25.3% |
| Amounts payable within one year | 42/48 | €914,809 | €812,948 | -€101,861 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €112,472 | €107,837 | -€4,636 | -4.1% |
| Financial debts | 43 | €13,520 | €16,832 | +€3,312 | +24.5% |
| Credit institutions | 430/8 | €13,520 | €16,832 | +€3,312 | +24.5% |
| Trade debts | 44 | €294 | €1,455 | +€1,161 | +395% |
| Suppliers | 440/4 | €294 | €1,455 | +€1,161 | +395% |
| Taxes, remuneration and social security | 45 | €58,259 | €22,806 | -€35,453 | -60.9% |
| Taxes | 450/3 | €56,559 | €22,806 | -€33,753 | -59.7% |
| Remuneration and social security | 454/9 | €1,700 | €0 | -€1,700 | -100% |
| Other amounts payable | 47/48 | €730,263 | €664,017 | -€66,246 | -9.1% |
| Accrued charges and deferred income | 492/3 | €350 | €10,750 | +€10,400 | +2,971% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €440 | = | 0.0% |
| Other operating charges | 640/8 | €1,477 | €2,817 | +€1,341 | +90.8% |
| Gross operating margin | 9900 | €354,655 | €287,560 | -€67,095 | -18.9% |
| Operating profit (loss) | 9901 | €352,738 | €284,302 | -€68,436 | -19.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €28,075 | €24,850 | -€3,225 | -11.5% |
| Recurring financial charges | 65 | €28,075 | €24,850 | -€3,225 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €324,663 | €259,452 | -€65,211 | -20.1% |
| Income taxes | 67/77 | €84,159 | €68,814 | -€15,346 | -18.2% |
| Profit (loss) for the period | 9904 | €240,504 | €190,639 | -€49,866 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €240,504 | €190,639 | -€49,866 | -20.7% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.