EXAGO: what changed
Two fiscal 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.
EXAGO
Largest movements
- Cash -€17,125
down €17,125 (-69.4%), from €24,685 to €7,560
mainly Short-term financial debts (-€44,682) and Net result for the year (-€18,827)
- Tangible fixed assets -€2,326
down €2,326 (-37.3%), from €6,243 to €3,918
- Other debts +€47,063
up €47,063 (+147.1%), from €32,000 to €79,063
- Short-term financial debts -€44,682
down €44,682 (-99.0%), from €45,124 to €442
- Profit (loss) carried forward -€18,827
down €18,827 (-19.7%), from €95,620 to €76,793
- Gross operating margin -€35,180
down €35,180 (-48.0%), from €73,231 to €38,051
- Financial income -€9,568
down €9,568 (-56.3%), from €16,989 to €7,420
- Staff costs +€2,599
up €2,599 (+4.6%), from €57,033 to €59,633
- Depreciation +€1,335
up €1,335 (+92.7%), from €1,440 to €2,775
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 | €228,456 | €208,735 | -€19,721 | -8.6% |
| Fixed assets | 21/28 | €30,379 | €28,054 | -€2,326 | -7.7% |
| Tangible fixed assets | 22/27 | €6,243 | €3,918 | -€2,326 | -37.3% |
| Furniture and vehicles | 24 | €6,243 | €3,918 | -€2,326 | -37.3% |
| Financial fixed assets | 28 | €24,136 | €24,136 | = | 0.0% |
| Current assets | 29/58 | €198,077 | €180,681 | -€17,395 | -8.8% |
| Amounts receivable within one year | 40/41 | €172,113 | €173,121 | +€1,008 | +0.6% |
| Trade receivables | 40 | €170,534 | €171,389 | +€855 | +0.5% |
| Other amounts receivable | 41 | €1,580 | €1,732 | +€152 | +9.7% |
| Cash at bank and in hand | 54/58 | €24,685 | €7,560 | -€17,125 | -69.4% |
| Deferred charges and accrued income | 490/1 | €1,278 | - | -€1,278 | |
| Total equity and liabilities | 10/49 | €228,456 | €208,735 | -€19,721 | -8.6% |
| Equity | 10/15 | €116,071 | €97,244 | -€18,827 | -16.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,620 | €76,793 | -€18,827 | -19.7% |
| Amounts payable | 17/49 | €112,385 | €111,490 | -€894 | -0.8% |
| Amounts payable within one year | 42/48 | €112,385 | €111,490 | -€894 | -0.8% |
| Financial debts | 43 | €45,124 | €442 | -€44,682 | -99.0% |
| Credit institutions | 430/8 | €45,124 | €442 | -€44,682 | -99.0% |
| Trade debts | 44 | €17,001 | €15,958 | -€1,043 | -6.1% |
| Suppliers | 440/4 | €17,001 | €15,958 | -€1,043 | -6.1% |
| Taxes, remuneration and social security | 45 | €18,260 | €16,027 | -€2,233 | -12.2% |
| Taxes | 450/3 | €9,255 | €2,152 | -€7,103 | -76.7% |
| Remuneration and social security | 454/9 | €9,005 | €13,875 | +€4,870 | +54.1% |
| Other amounts payable | 47/48 | €32,000 | €79,063 | +€47,063 | +147.1% |
| Remuneration, social security and pensions | 62 | €57,033 | €59,633 | +€2,599 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440 | €2,775 | +€1,335 | +92.7% |
| Other operating charges | 640/8 | €134 | - | -€134 | |
| Gross operating margin | 9900 | €73,231 | €38,051 | -€35,180 | -48.0% |
| Operating profit (loss) | 9901 | €14,624 | -€24,357 | -€38,981 | |
| Financial income | 75/76B | €16,989 | €7,420 | -€9,568 | -56.3% |
| Recurring financial income | 75 | €16,989 | €7,420 | -€9,568 | -56.3% |
| Financial charges | 65/66B | €1,961 | €1,891 | -€70 | -3.6% |
| Recurring financial charges | 65 | €1,961 | €1,891 | -€70 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €29,652 | -€18,827 | -€48,479 | |
| Income taxes | 67/77 | €31 | - | -€31 | |
| Profit (loss) for the period | 9904 | €29,621 | -€18,827 | -€48,448 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,621 | -€18,827 | -€48,448 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.