CAR EXCELLENCE: 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.
CAR EXCELLENCE
Largest movements
- Receivables within one year +€48,192
up €48,192 (+86.4%), from €55,750 to €103,942
of which Trade receivables: +€39,730
- Cash +€24,000
up €24,000 (+24.0%), from €99,893 to €123,893
mainly Net result for the year (+€82,119) and Trade debts (+€7,860)
- Reserves +€82,119
up €82,119 (+32.2%), from €254,865 to €336,983
of which Distributable reserves: +€82,119
- Debts after one year -€21,142
down €21,142 (-23.8%), from €88,714 to €67,571
- Trade debts +€7,860
up €7,860 (+149.3%), from €5,265 to €13,126
- Gross operating margin +€50,251
up €50,251 (+70.1%), from €71,711 to €121,962
- Staff costs +€12,655
new in 2025: €12,655
- Taxes +€5,191
up €5,191 (+31.2%), from €16,618 to €21,810
- Financial charges -€3,418
down €3,418 (-52.9%), from €6,462 to €3,044
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 | €543,787 | €613,995 | +€70,208 | +12.9% |
| Fixed assets | 21/28 | €5,057 | €5,376 | +€319 | +6.3% |
| Financial fixed assets | 28 | €5,057 | €5,376 | +€319 | +6.3% |
| Current assets | 29/58 | €538,730 | €608,619 | +€69,889 | +13.0% |
| Stocks and contracts in progress | 3 | €383,087 | €379,526 | -€3,561 | -0.9% |
| Stocks | 30/36 | €383,087 | €379,526 | -€3,561 | -0.9% |
| Amounts receivable within one year | 40/41 | €55,750 | €103,942 | +€48,192 | +86.4% |
| Trade receivables | 40 | €41,042 | €80,772 | +€39,730 | +96.8% |
| Other amounts receivable | 41 | €14,708 | €23,170 | +€8,462 | +57.5% |
| Cash at bank and in hand | 54/58 | €99,893 | €123,893 | +€24,000 | +24.0% |
| Deferred charges and accrued income | 490/1 | - | €1,258 | +€1,258 | |
| Total equity and liabilities | 10/49 | €543,787 | €613,995 | +€70,208 | +12.9% |
| Equity | 10/15 | €415,311 | €497,429 | +€82,119 | +19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,865 | €336,983 | +€82,119 | +32.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,501 | €24,501 | = | 0.0% |
| Distributable reserves | 133 | €228,504 | €310,623 | +€82,119 | +35.9% |
| Profit (loss) carried forward | 14 | €141,846 | €141,846 | = | 0.0% |
| Amounts payable | 17/49 | €128,476 | €116,566 | -€11,911 | -9.3% |
| Amounts payable after more than one year | 17 | €88,714 | €67,571 | -€21,142 | -23.8% |
| Financial debts | 170/4 | €88,714 | €67,571 | -€21,142 | -23.8% |
| Amounts payable within one year | 42/48 | €39,762 | €48,994 | +€9,232 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €3,333 | €3,333 | = | 0.0% |
| Trade debts | 44 | €5,265 | €13,126 | +€7,860 | +149.3% |
| Suppliers | 440/4 | €5,265 | €13,126 | +€7,860 | +149.3% |
| Taxes, remuneration and social security | 45 | €31,164 | €32,536 | +€1,372 | +4.4% |
| Taxes | 450/3 | €20,764 | €30,715 | +€9,951 | +47.9% |
| Remuneration and social security | 454/9 | €10,400 | €1,821 | -€8,579 | -82.5% |
| Remuneration, social security and pensions | 62 | - | €12,655 | +€12,655 | |
| Other operating charges | 640/8 | €2,493 | €2,917 | +€424 | +17.0% |
| Gross operating margin | 9900 | €71,711 | €121,962 | +€50,251 | +70.1% |
| Operating profit (loss) | 9901 | €69,218 | €106,390 | +€37,171 | +53.7% |
| Financial income | 75/76B | €25 | €583 | +€558 | +2241.7% |
| Recurring financial income | 75 | €25 | €583 | +€558 | +2241.7% |
| Financial charges | 65/66B | €6,462 | €3,044 | -€3,418 | -52.9% |
| Recurring financial charges | 65 | €6,462 | €3,044 | -€3,418 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €62,781 | €103,929 | +€41,148 | +65.5% |
| Income taxes | 67/77 | €16,618 | €21,810 | +€5,191 | +31.2% |
| Profit (loss) for the period | 9904 | €46,163 | €82,119 | +€35,956 | +77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,163 | €82,119 | +€35,956 | +77.9% |
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 10 October 2026 via checked.be.