2exelerate: 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.
2exelerate
Largest movements
- Current investments +€34,010
up €34,010 (+37.7%), from €90,198 to €124,208
- Cash +€13,138
up €13,138 (+40.1%), from €32,727 to €45,866
mainly Net result for the year (+€41,822) and Tax, wage and social debts (+€3,407)
- Reserves +€41,822
up €41,822 (+51.3%), from €81,490 to €123,312
of which Distributable reserves: +€41,822
- Tax, wage and social debts +€3,407
up €3,407 (+86.1%), from €3,957 to €7,364
- Short-term financial debts +€2,330
up €2,330 (+867.0%), from €269 to €2,599
- Gross operating margin +€2,065
up €2,065 (+3.3%), from €63,107 to €65,172
- Taxes -€1,132
down €1,132 (-5.1%), from €22,141 to €21,009
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 | €143,680 | €189,097 | +€45,418 | +31.6% |
| Fixed assets | 21/28 | €5,270 | €4,096 | -€1,175 | -22.3% |
| Tangible fixed assets | 22/27 | €5,270 | €4,096 | -€1,175 | -22.3% |
| Plant, machinery and equipment | 23 | €1,033 | - | -€1,033 | |
| Furniture and vehicles | 24 | €4,237 | €4,096 | -€141 | -3.3% |
| Current assets | 29/58 | €138,409 | €185,002 | +€46,592 | +33.7% |
| Amounts receivable within one year | 40/41 | €15,484 | €14,928 | -€556 | -3.6% |
| Trade receivables | 40 | €15,484 | €14,928 | -€556 | -3.6% |
| Current investments | 50/53 | €90,198 | €124,208 | +€34,010 | +37.7% |
| Cash at bank and in hand | 54/58 | €32,727 | €45,866 | +€13,138 | +40.1% |
| Total equity and liabilities | 10/49 | €143,680 | €189,097 | +€45,418 | +31.6% |
| Equity | 10/15 | €119,732 | €161,554 | +€41,822 | +34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,490 | €123,312 | +€41,822 | +51.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,630 | €121,452 | +€41,822 | +52.5% |
| Profit (loss) carried forward | 14 | €19,642 | €19,642 | = | 0.0% |
| Amounts payable | 17/49 | €23,948 | €27,543 | +€3,595 | +15.0% |
| Amounts payable within one year | 42/48 | €21,033 | €24,506 | +€3,473 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €15,673 | €14,094 | -€1,578 | -10.1% |
| Financial debts | 43 | €269 | €2,599 | +€2,330 | +867.0% |
| Credit institutions | 430/8 | €269 | €2,599 | +€2,330 | +867.0% |
| Trade debts | 44 | €1,135 | €449 | -€686 | -60.4% |
| Suppliers | 440/4 | €1,135 | €449 | -€686 | -60.4% |
| Taxes, remuneration and social security | 45 | €3,957 | €7,364 | +€3,407 | +86.1% |
| Taxes | 450/3 | €3,957 | €7,364 | +€3,407 | +86.1% |
| Accrued charges and deferred income | 492/3 | €2,915 | €3,037 | +€122 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,764 | €2,011 | +€247 | +14.0% |
| Other operating charges | 640/8 | €1,367 | €1,413 | +€45 | +3.3% |
| Gross operating margin | 9900 | €63,107 | €65,172 | +€2,065 | +3.3% |
| Operating profit (loss) | 9901 | €59,975 | €61,748 | +€1,773 | +3.0% |
| Financial income | 75/76B | €1,106 | €1,508 | +€402 | +36.3% |
| Recurring financial income | 75 | €1,106 | €1,508 | +€402 | +36.3% |
| Financial charges | 65/66B | €540 | €425 | -€115 | -21.3% |
| Recurring financial charges | 65 | €540 | €425 | -€115 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €60,541 | €62,831 | +€2,290 | +3.8% |
| Income taxes | 67/77 | €22,141 | €21,009 | -€1,132 | -5.1% |
| Profit (loss) for the period | 9904 | €38,400 | €41,822 | +€3,422 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,400 | €41,822 | +€3,422 | +8.9% |
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 12 October 2026 via checked.be.