EXCEED: 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.
EXCEED
Largest movements
- Cash -€1,724
down €1,724 (-92.4%), from €1,866 to €141
mainly Short-term financial debts (-€28,170) and Net result for the year (-€2,299)
- Other debts +€28,745
up €28,745 (+28.4%), from €101,367 to €130,112
- Short-term financial debts -€28,170
no longer reported in 2025 (was €28,170)
- Profit (loss) carried forward -€2,299
down €2,299 (-1.7%), from -€134,716 to -€137,016
- Financial charges -€1,375
down €1,375 (-74.6%), from €1,842 to €467
- Other operating charges -€286
down €286 (-32.0%), from €893 to €607
- Financial income +€227
new in 2025: €227
- Gross operating margin +€203
up €203 (+12.2%), from -€1,655 to -€1,452
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 | €1,866 | €141 | -€1,724 | -92.4% |
| Current assets | 29/58 | €1,866 | €141 | -€1,724 | -92.4% |
| Cash at bank and in hand | 54/58 | €1,866 | €141 | -€1,724 | -92.4% |
| Total equity and liabilities | 10/49 | €1,866 | €141 | -€1,724 | -92.4% |
| Equity | 10/15 | -€127,671 | -€129,970 | -€2,299 | -1.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €845 | €845 | = | 0.0% |
| Distributable reserves | 133 | €845 | €845 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,716 | -€137,016 | -€2,299 | -1.7% |
| Amounts payable | 17/49 | €129,537 | €130,112 | +€575 | +0.4% |
| Amounts payable within one year | 42/48 | €129,537 | €130,112 | +€575 | +0.4% |
| Financial debts | 43 | €28,170 | - | -€28,170 | |
| Credit institutions | 430/8 | €28,170 | - | -€28,170 | |
| Other amounts payable | 47/48 | €101,367 | €130,112 | +€28,745 | +28.4% |
| Other operating charges | 640/8 | €893 | €607 | -€286 | -32.0% |
| Gross operating margin | 9900 | -€1,655 | -€1,452 | +€203 | +12.2% |
| Operating profit (loss) | 9901 | -€2,548 | -€2,059 | +€489 | +19.2% |
| Financial income | 75/76B | - | €227 | +€227 | |
| Recurring financial income | 75 | - | €227 | +€227 | |
| Financial charges | 65/66B | €1,842 | €467 | -€1,375 | -74.6% |
| Recurring financial charges | 65 | €1,842 | €467 | -€1,375 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,390 | -€2,299 | +€2,091 | +47.6% |
| Profit (loss) for the period | 9904 | -€4,390 | -€2,299 | +€2,091 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,390 | -€2,299 | +€2,091 | +47.6% |
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 29 September 2026 via checked.be.