eXcavate: 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.
eXcavate
Largest movements
- Cash -€80,404
down €80,404 (-76.1%), from €105,726 to €25,321
mainly Other debts (-€77,852) and Contributions, distributions and other (-€22,200)
- Receivables within one year +€18,889
up €18,889 (+31.3%), from €60,316 to €79,205
of which Trade receivables: +€22,937
- Tangible fixed assets -€7,936
down €7,936 (-42.3%), from €18,743 to €10,806
- Other debts -€77,852
down €77,852 (-77.5%), from €100,419 to €22,567
- Reserves +€18,422
up €18,422 (+43.5%), from €42,318 to €60,740
- Trade debts -€10,766
down €10,766 (-71.9%), from €14,964 to €4,198
- Gross operating margin -€109,404
down €109,404 (-64.9%), from €168,527 to €59,123
- Taxes -€27,071
down €27,071 (-73.8%), from €36,660 to €9,589
- Depreciation +€2,966
up €2,966 (+59.7%), from €4,971 to €7,936
- Other operating charges -€2,690
down €2,690 (-75.5%), from €3,564 to €874
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 | €185,639 | €116,650 | -€68,989 | -37.2% |
| Fixed assets | 21/28 | €18,743 | €10,806 | -€7,936 | -42.3% |
| Tangible fixed assets | 22/27 | €18,743 | €10,806 | -€7,936 | -42.3% |
| Furniture and vehicles | 24 | €18,743 | €10,806 | -€7,936 | -42.3% |
| Current assets | 29/58 | €166,897 | €105,843 | -€61,053 | -36.6% |
| Amounts receivable within one year | 40/41 | €60,316 | €79,205 | +€18,889 | +31.3% |
| Trade receivables | 40 | €42,518 | €65,455 | +€22,937 | +53.9% |
| Other amounts receivable | 41 | €17,798 | €13,750 | -€4,048 | -22.7% |
| Cash at bank and in hand | 54/58 | €105,726 | €25,321 | -€80,404 | -76.1% |
| Deferred charges and accrued income | 490/1 | €855 | €1,317 | +€462 | +54.1% |
| Total equity and liabilities | 10/49 | €185,639 | €116,650 | -€68,989 | -37.2% |
| Equity | 10/15 | €60,918 | €79,340 | +€18,422 | +30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,318 | €60,740 | +€18,422 | +43.5% |
| Distributable reserves | 133 | €42,318 | €60,740 | +€18,422 | +43.5% |
| Amounts payable | 17/49 | €124,721 | €37,310 | -€87,411 | -70.1% |
| Amounts payable within one year | 42/48 | €124,721 | €37,310 | -€87,411 | -70.1% |
| Trade debts | 44 | €14,964 | €4,198 | -€10,766 | -71.9% |
| Suppliers | 440/4 | €14,964 | €4,198 | -€10,766 | -71.9% |
| Taxes, remuneration and social security | 45 | €9,338 | €10,544 | +€1,207 | +12.9% |
| Taxes | 450/3 | €9,338 | €10,544 | +€1,207 | +12.9% |
| Other amounts payable | 47/48 | €100,419 | €22,567 | -€77,852 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,971 | €7,936 | +€2,966 | +59.7% |
| Other operating charges | 640/8 | €3,564 | €874 | -€2,690 | -75.5% |
| Gross operating margin | 9900 | €168,527 | €59,123 | -€109,404 | -64.9% |
| Operating profit (loss) | 9901 | €159,993 | €50,314 | -€109,679 | -68.6% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €639 | €103 | -€536 | -83.9% |
| Recurring financial charges | 65 | €639 | €103 | -€536 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €159,356 | €50,211 | -€109,145 | -68.5% |
| Income taxes | 67/77 | €36,660 | €9,589 | -€27,071 | -73.8% |
| Profit (loss) for the period | 9904 | €122,695 | €40,622 | -€82,073 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €122,695 | €40,622 | -€82,073 | -66.9% |
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 21 October 2026 via checked.be.