EXCELERATE: 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.
EXCELERATE
Largest movements
- Cash -€24,716
down €24,716 (-15.3%), from €161,518 to €136,802
mainly Net result for the year (-€20,489) and Receivables within one year (-€20,183)
- Tangible fixed assets -€23,296
down €23,296 (-6.9%), from €338,939 to €315,643
of which Furniture and vehicles: -€16,015
- Receivables within one year +€20,183
up €20,183 (+87.9%), from €22,957 to €43,139
of which Trade receivables: +€20,533
- Deferred charges and accrued income -€13,996
down €13,996 (-70.0%), from €19,996 to €6,000
- Profit (loss) carried forward -€20,489
down €20,489 (-127.4%), from -€16,084 to -€36,573
- Reserves -€15,000
down €15,000 (-2.2%), from €674,040 to €659,040
of which Distributable reserves: -€13,140
- Accrued charges and deferred income -€9,197
no longer reported in 2024 (was €9,197)
- Trade debts +€7,037
up €7,037 (+114.8%), from €6,131 to €13,168
- Depreciation +€1,987
up €1,987 (+7.8%), from €25,430 to €27,417
- Gross operating margin -€1,886
down €1,886 (-18.5%), from €10,211 to €8,325
- Other operating charges +€340
up €340 (+21.3%), from €1,599 to €1,939
- Financial income -€145
down €145 (-9.8%), from €1,475 to €1,330
- Financial charges +€106
up €106 (+50.6%), from €210 to €316
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €695,588 | €656,520 | -€39,068 | -5.6% |
| Fixed assets | 21/28 | €338,939 | €317,643 | -€21,296 | -6.3% |
| Tangible fixed assets | 22/27 | €338,939 | €315,643 | -€23,296 | -6.9% |
| Land and buildings | 22 | €263,051 | €256,052 | -€6,999 | -2.7% |
| Plant, machinery and equipment | 23 | €6,134 | €5,853 | -€281 | -4.6% |
| Furniture and vehicles | 24 | €69,753 | €53,738 | -€16,015 | -23.0% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €356,649 | €338,877 | -€17,773 | -5.0% |
| Amounts receivable within one year | 40/41 | €22,957 | €43,139 | +€20,183 | +87.9% |
| Trade receivables | 40 | €21,847 | €42,380 | +€20,533 | +94.0% |
| Other amounts receivable | 41 | €1,110 | €759 | -€351 | -31.6% |
| Current investments | 50/53 | €152,178 | €152,935 | +€757 | +0.5% |
| Cash at bank and in hand | 54/58 | €161,518 | €136,802 | -€24,716 | -15.3% |
| Deferred charges and accrued income | 490/1 | €19,996 | €6,000 | -€13,996 | -70.0% |
| Total equity and liabilities | 10/49 | €695,588 | €656,520 | -€39,068 | -5.6% |
| Equity | 10/15 | €670,356 | €634,867 | -€35,489 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €674,040 | €659,040 | -€15,000 | -2.2% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €672,180 | €659,040 | -€13,140 | -2.0% |
| Profit (loss) carried forward | 14 | -€16,084 | -€36,573 | -€20,489 | -127.4% |
| Amounts payable | 17/49 | €25,232 | €21,653 | -€3,579 | -14.2% |
| Amounts payable within one year | 42/48 | €16,034 | €21,653 | +€5,619 | +35.0% |
| Trade debts | 44 | €6,131 | €13,168 | +€7,037 | +114.8% |
| Suppliers | 440/4 | €6,131 | €13,168 | +€7,037 | +114.8% |
| Taxes, remuneration and social security | 45 | €6,207 | €7,072 | +€864 | +13.9% |
| Taxes | 450/3 | €6,207 | €7,072 | +€864 | +13.9% |
| Other amounts payable | 47/48 | €3,696 | €1,413 | -€2,282 | -61.8% |
| Accrued charges and deferred income | 492/3 | €9,197 | - | -€9,197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,430 | €27,417 | +€1,987 | +7.8% |
| Other operating charges | 640/8 | €1,599 | €1,939 | +€340 | +21.3% |
| Gross operating margin | 9900 | €10,211 | €8,325 | -€1,886 | -18.5% |
| Operating profit (loss) | 9901 | -€16,818 | -€21,031 | -€4,213 | -25.0% |
| Financial income | 75/76B | €1,475 | €1,330 | -€145 | -9.8% |
| Recurring financial income | 75 | €1,475 | €1,330 | -€145 | -9.8% |
| Financial charges | 65/66B | €210 | €316 | +€106 | +50.6% |
| Recurring financial charges | 65 | €210 | €316 | +€106 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,553 | -€20,016 | -€4,464 | -28.7% |
| Income taxes | 67/77 | €531 | €473 | -€58 | -10.9% |
| Profit (loss) for the period | 9904 | -€16,084 | -€20,489 | -€4,406 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,084 | -€20,489 | -€4,406 | -27.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.