B-EXCELLENT: 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.
B-EXCELLENT
Largest movements
- Current investments +€49,800
up €49,800 (+166%), from €30,000 to €79,800
- Cash +€17,525
up €17,525 (+14.9%), from €117,448 to €134,973
mainly Net result for the year (+€86,066) and Other debts (+€73,050)
- Receivables within one year -€7,327
down €7,327 (-23.6%), from €31,090 to €23,763
of which Trade receivables: -€4,582
- Deferred charges and accrued income -€3,059
down €3,059 (-58.2%), from €5,256 to €2,196
- Other debts +€73,050
up €73,050 (+297%), from €24,561 to €97,611
- Reserves -€11,334
down €11,334 (-5.5%), from €205,639 to €194,305
- Tax, wage and social debts -€3,326
down €3,326 (-31.5%), from €10,561 to €7,235
- Gross operating margin +€12,883
up €12,883 (+12.6%), from €102,135 to €115,017
- Taxes +€2,422
up €2,422 (+9.1%), from €26,727 to €29,149
- Financial income +€1,484
up €1,484 (+71.8%), from €2,066 to €3,550
of which Financial income: +€1,484
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 | €243,816 | €300,217 | +€56,402 | +23.1% |
| Fixed assets | 21/28 | €60,022 | €59,486 | -€536 | -0.9% |
| Tangible fixed assets | 22/27 | €33,312 | €32,776 | -€536 | -1.6% |
| Land and buildings | 22 | €23,469 | €22,885 | -€584 | -2.5% |
| Plant, machinery and equipment | 23 | - | €1,450 | +€1,450 | |
| Furniture and vehicles | 24 | €1,357 | €644 | -€713 | -52.5% |
| Other tangible fixed assets | 26 | €8,486 | €7,797 | -€689 | -8.1% |
| Financial fixed assets | 28 | €26,710 | €26,710 | = | 0.0% |
| Current assets | 29/58 | €183,794 | €240,732 | +€56,938 | +31.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €31,090 | €23,763 | -€7,327 | -23.6% |
| Trade receivables | 40 | €28,344 | €23,763 | -€4,582 | -16.2% |
| Other amounts receivable | 41 | €2,745 | €0 | -€2,745 | -100% |
| Current investments | 50/53 | €30,000 | €79,800 | +€49,800 | +166% |
| Cash at bank and in hand | 54/58 | €117,448 | €134,973 | +€17,525 | +14.9% |
| Deferred charges and accrued income | 490/1 | €5,256 | €2,196 | -€3,059 | -58.2% |
| Total equity and liabilities | 10/49 | €243,816 | €300,217 | +€56,402 | +23.1% |
| Equity | 10/15 | €205,639 | €194,305 | -€11,334 | -5.5% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €205,639 | €194,305 | -€11,334 | -5.5% |
| Distributable reserves | 133 | €205,639 | €194,305 | -€11,334 | -5.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,176 | €105,913 | +€67,736 | +177% |
| Amounts payable within one year | 42/48 | €38,176 | €105,913 | +€67,736 | +177% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,055 | €1,067 | -€1,988 | -65.1% |
| Suppliers | 440/4 | €3,055 | €1,067 | -€1,988 | -65.1% |
| Taxes, remuneration and social security | 45 | €10,561 | €7,235 | -€3,326 | -31.5% |
| Taxes | 450/3 | €10,561 | €7,235 | -€3,326 | -31.5% |
| Other amounts payable | 47/48 | €24,561 | €97,611 | +€73,050 | +297% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,270 | €2,044 | -€226 | -10.0% |
| Other operating charges | 640/8 | €1,371 | €1,041 | -€330 | -24.0% |
| Gross operating margin | 9900 | €102,135 | €115,017 | +€12,883 | +12.6% |
| Operating profit (loss) | 9901 | €98,494 | €111,932 | +€13,438 | +13.6% |
| Financial income | 75/76B | €2,066 | €3,550 | +€1,484 | +71.8% |
| Recurring financial income | 75 | €2,066 | €3,550 | +€1,484 | +71.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €187 | €268 | +€80 | +43.0% |
| Recurring financial charges | 65 | €187 | €268 | +€80 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €100,373 | €115,214 | +€14,842 | +14.8% |
| Income taxes | 67/77 | €26,727 | €29,149 | +€2,422 | +9.1% |
| Profit (loss) for the period | 9904 | €73,646 | €86,066 | +€12,420 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,646 | €86,066 | +€12,420 | +16.9% |
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 27 October 2026 via checked.be.