EXCELER8: 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.
EXCELER8
Largest movements
- Current investments +€73,772
new in 2025: €73,772
- Cash -€24,806
down €24,806 (-35.6%), from €69,750 to €44,944
mainly Current investments (-€73,772) and Trade debts (-€2,629)
- Profit (loss) carried forward +€40,367
up €40,367 (+74.4%), from €54,240 to €94,607
- Tax, wage and social debts +€10,955
up €10,955 (+58.4%), from €18,767 to €29,723
- Trade debts -€2,629
down €2,629 (-72.3%), from €3,638 to €1,009
- Gross operating margin -€16,138
down €16,138 (-22.8%), from €70,649 to €54,511
- Taxes -€3,760
down €3,760 (-25.7%), from €14,640 to €10,881
- Financial charges +€1,174
up €1,174 (+1,082%), from €108 to €1,282
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 | €79,145 | €128,099 | +€48,955 | +61.9% |
| Fixed assets | 21/28 | €3,490 | €4,168 | +€678 | +19.4% |
| Tangible fixed assets | 22/27 | €3,490 | €4,168 | +€678 | +19.4% |
| Furniture and vehicles | 24 | €3,490 | €4,168 | +€678 | +19.4% |
| Current assets | 29/58 | €75,655 | €123,931 | +€48,276 | +63.8% |
| Amounts receivable within one year | 40/41 | €4,991 | €4,544 | -€447 | -9.0% |
| Other amounts receivable | 41 | €4,991 | €4,544 | -€447 | -9.0% |
| Current investments | 50/53 | - | €73,772 | +€73,772 | |
| Cash at bank and in hand | 54/58 | €69,750 | €44,944 | -€24,806 | -35.6% |
| Deferred charges and accrued income | 490/1 | €914 | €672 | -€242 | -26.5% |
| Total equity and liabilities | 10/49 | €79,145 | €128,099 | +€48,955 | +61.9% |
| Equity | 10/15 | €55,240 | €95,607 | +€40,367 | +73.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,240 | €94,607 | +€40,367 | +74.4% |
| Amounts payable | 17/49 | €23,905 | €32,492 | +€8,587 | +35.9% |
| Amounts payable within one year | 42/48 | €22,405 | €30,731 | +€8,326 | +37.2% |
| Trade debts | 44 | €3,638 | €1,009 | -€2,629 | -72.3% |
| Suppliers | 440/4 | €3,638 | €1,009 | -€2,629 | -72.3% |
| Taxes, remuneration and social security | 45 | €18,767 | €29,723 | +€10,955 | +58.4% |
| Taxes | 450/3 | €18,767 | €29,723 | +€10,955 | +58.4% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,761 | +€261 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,219 | +€219 | +21.9% |
| Other operating charges | 640/8 | €1,093 | €544 | -€549 | -50.2% |
| Non-recurring operating charges | 66A | - | €445 | +€445 | |
| Gross operating margin | 9900 | €70,649 | €54,511 | -€16,138 | -22.8% |
| Operating profit (loss) | 9901 | €68,556 | €52,304 | -€16,252 | -23.7% |
| Financial income | 75/76B | €433 | €226 | -€206 | -47.7% |
| Recurring financial income | 75 | €433 | €226 | -€206 | -47.7% |
| Financial charges | 65/66B | €108 | €1,282 | +€1,174 | +1,082% |
| Recurring financial charges | 65 | €108 | €1,282 | +€1,174 | +1,082% |
| Profit (loss) for the period before taxes | 9903 | €68,880 | €51,248 | -€17,632 | -25.6% |
| Income taxes | 67/77 | €14,640 | €10,881 | -€3,760 | -25.7% |
| Profit (loss) for the period | 9904 | €54,240 | €40,367 | -€13,872 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,240 | €40,367 | -€13,872 | -25.6% |
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 29 October 2026 via checked.be.