XPERTOPINION: 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.
XPERTOPINION
Largest movements
- Financial fixed assets +€300,000
new in 2025: €300,000
- Cash -€101,889
down €101,889 (-95.4%), from €106,826 to €4,937
mainly Investment in fixed assets (net) (-€334,375) and Trade debts (-€11,912)
- Intangible fixed assets +€10,284
up €10,284 (+12.2%), from €84,220 to €94,503
- Receivables within one year -€4,199
down €4,199 (-69.8%), from €6,014 to €1,815
of which Other amounts receivable: -€4,199
- Contributions +€150,000
up €150,000 (+73.3%), from €204,500 to €354,500
- Debts after one year +€48,000
new in 2025: €48,000
- Current portion of long-term debt +€24,000
new in 2025: €24,000
- Trade debts -€11,912
down €11,912 (-97.2%), from €12,257 to €345
- Profit (loss) carried forward -€7,057
down €7,057 (-36.9%), from -€19,115 to -€26,172
- Gross operating margin +€21,195
up €21,195, from -€3,160 to €18,034
- Depreciation +€9,006
up €9,006 (+59.7%), from €15,085 to €24,091
- Financial income -€823
down €823 (-100%), from €823 to €0
- Other operating charges -€618
down €618 (-39.7%), from €1,557 to €939
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 | €197,760 | €402,126 | +€204,366 | +103% |
| Fixed assets | 21/28 | €84,220 | €394,503 | +€310,284 | +368% |
| Intangible fixed assets | 21 | €84,220 | €94,503 | +€10,284 | +12.2% |
| Financial fixed assets | 28 | - | €300,000 | +€300,000 | |
| Current assets | 29/58 | €113,540 | €7,623 | -€105,917 | -93.3% |
| Amounts receivable within one year | 40/41 | €6,014 | €1,815 | -€4,199 | -69.8% |
| Trade receivables | 40 | €1,815 | €1,815 | = | 0.0% |
| Other amounts receivable | 41 | €4,199 | €0 | -€4,199 | -100% |
| Cash at bank and in hand | 54/58 | €106,826 | €4,937 | -€101,889 | -95.4% |
| Deferred charges and accrued income | 490/1 | €701 | €871 | +€170 | +24.3% |
| Total equity and liabilities | 10/49 | €197,760 | €402,126 | +€204,366 | +103% |
| Equity | 10/15 | €185,385 | €328,328 | +€142,943 | +77.1% |
| Contributions | 10/11 | €204,500 | €354,500 | +€150,000 | +73.3% |
| Profit (loss) carried forward | 14 | -€19,115 | -€26,172 | -€7,057 | -36.9% |
| Amounts payable | 17/49 | €12,375 | €73,799 | +€61,424 | +496% |
| Amounts payable after more than one year | 17 | - | €48,000 | +€48,000 | |
| Financial debts | 170/4 | - | €48,000 | +€48,000 | |
| Amounts payable within one year | 42/48 | €12,375 | €25,799 | +€13,424 | +108% |
| Current portion of amounts payable after more than one year | 42 | - | €24,000 | +€24,000 | |
| Financial debts | 43 | €94 | €65 | -€29 | -30.9% |
| Credit institutions | 430/8 | €94 | €65 | -€29 | -30.9% |
| Trade debts | 44 | €12,257 | €345 | -€11,912 | -97.2% |
| Suppliers | 440/4 | €12,257 | €345 | -€11,912 | -97.2% |
| Taxes, remuneration and social security | 45 | - | €1,365 | +€1,365 | |
| Taxes | 450/3 | - | €1,365 | +€1,365 | |
| Other amounts payable | 47/48 | €24 | €24 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,085 | €24,091 | +€9,006 | +59.7% |
| Other operating charges | 640/8 | €1,557 | €939 | -€618 | -39.7% |
| Gross operating margin | 9900 | -€3,160 | €18,034 | +€21,195 | |
| Operating profit (loss) | 9901 | -€19,803 | -€6,996 | +€12,807 | +64.7% |
| Financial income | 75/76B | €823 | €0 | -€823 | -100% |
| Recurring financial income | 75 | €823 | €0 | -€823 | -100% |
| Financial charges | 65/66B | €135 | €61 | -€74 | -54.9% |
| Recurring financial charges | 65 | €135 | €61 | -€74 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,115 | -€7,057 | +€12,058 | +63.1% |
| Profit (loss) for the period | 9904 | -€19,115 | -€7,057 | +€12,058 | +63.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,115 | -€7,057 | +€12,058 | +63.1% |
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 26 October 2026 via checked.be.