EXCELIT: 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.
EXCELIT
Largest movements
- Tangible fixed assets -€289,950
down €289,950 (-80.0%), from €362,259 to €72,309
of which Land and buildings: -€351,413
- Deferred charges and accrued income +€40,322
up €40,322 (+197%), from €20,516 to €60,839
- Cash -€39,251
down €39,251 (-26.1%), from €150,155 to €110,904
mainly Contributions, distributions and other (-€230,000) and Debts after one year (-€160,149)
- Receivables within one year +€11,569
up €11,569 (+31.5%), from €36,718 to €48,287
of which Trade receivables: +€17,092
- Debts after one year -€160,149
down €160,149 (-75.8%), from €211,414 to €51,265
of which Financial debts: -€211,414
- Reserves -€141,000
down €141,000 (-44.8%), from €315,000 to €174,000
- Current portion of long-term debt -€17,167
no longer reported in 2025 (was €17,167)
- Other debts +€11,403
up €11,403 (+968%), from €1,178 to €12,582
- Trade debts +€10,728
up €10,728 (+744%), from €1,442 to €12,171
- Gross operating margin +€47,060
up €47,060 (+64.3%), from €73,164 to €120,224
- Depreciation -€18,901
down €18,901 (-75.7%), from €24,954 to €6,052
- Taxes +€15,914
up €15,914 (+179%), from €8,891 to €24,805
- Financial income +€5,052
up €5,052 (+366%), from €1,379 to €6,431
- Financial charges -€1,783
down €1,783 (-32.7%), from €5,453 to €3,670
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 | €578,948 | €301,639 | -€277,309 | -47.9% |
| Fixed assets | 21/28 | €371,559 | €81,609 | -€289,950 | -78.0% |
| Tangible fixed assets | 22/27 | €362,259 | €72,309 | -€289,950 | -80.0% |
| Land and buildings | 22 | €351,413 | - | -€351,413 | |
| Furniture and vehicles | 24 | €4,898 | €65,470 | +€60,572 | +1,237% |
| Other tangible fixed assets | 26 | €5,948 | €6,839 | +€891 | +15.0% |
| Financial fixed assets | 28 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €207,389 | €220,030 | +€12,641 | +6.1% |
| Amounts receivable within one year | 40/41 | €36,718 | €48,287 | +€11,569 | +31.5% |
| Trade receivables | 40 | €31,195 | €48,287 | +€17,092 | +54.8% |
| Other amounts receivable | 41 | €5,523 | - | -€5,523 | |
| Cash at bank and in hand | 54/58 | €150,155 | €110,904 | -€39,251 | -26.1% |
| Deferred charges and accrued income | 490/1 | €20,516 | €60,839 | +€40,322 | +197% |
| Total equity and liabilities | 10/49 | €578,948 | €301,639 | -€277,309 | -47.9% |
| Equity | 10/15 | €336,962 | €195,282 | -€141,680 | -42.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €315,000 | €174,000 | -€141,000 | -44.8% |
| Distributable reserves | 133 | €315,000 | €174,000 | -€141,000 | -44.8% |
| Profit (loss) carried forward | 14 | €1,502 | €822 | -€680 | -45.3% |
| Amounts payable | 17/49 | €241,987 | €106,357 | -€135,630 | -56.0% |
| Amounts payable after more than one year | 17 | €211,414 | €51,265 | -€160,149 | -75.8% |
| Financial debts | 170/4 | €211,414 | - | -€211,414 | |
| Other amounts payable | 178/9 | - | €51,265 | +€51,265 | |
| Amounts payable within one year | 42/48 | €29,214 | €44,640 | +€15,426 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €17,167 | - | -€17,167 | |
| Trade debts | 44 | €1,442 | €12,171 | +€10,728 | +744% |
| Suppliers | 440/4 | €1,442 | €12,171 | +€10,728 | +744% |
| Advances received on contracts in progress | 46 | - | €9,984 | +€9,984 | |
| Taxes, remuneration and social security | 45 | €9,427 | €9,904 | +€476 | +5.1% |
| Taxes | 450/3 | €9,427 | €9,904 | +€476 | +5.1% |
| Other amounts payable | 47/48 | €1,178 | €12,582 | +€11,403 | +968% |
| Accrued charges and deferred income | 492/3 | €1,358 | €10,452 | +€9,094 | +670% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,954 | €6,052 | -€18,901 | -75.7% |
| Other operating charges | 640/8 | €4,429 | €3,808 | -€621 | -14.0% |
| Non-recurring operating charges | 66A | €289 | - | -€289 | |
| Gross operating margin | 9900 | €73,164 | €120,224 | +€47,060 | +64.3% |
| Operating profit (loss) | 9901 | €43,492 | €110,364 | +€66,871 | +154% |
| Financial income | 75/76B | €1,379 | €6,431 | +€5,052 | +366% |
| Recurring financial income | 75 | €1,379 | €6,431 | +€5,052 | +366% |
| Financial charges | 65/66B | €5,453 | €3,670 | -€1,783 | -32.7% |
| Recurring financial charges | 65 | €5,453 | €3,670 | -€1,783 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €39,419 | €113,125 | +€73,706 | +187% |
| Income taxes | 67/77 | €8,891 | €24,805 | +€15,914 | +179% |
| Profit (loss) for the period | 9904 | €30,528 | €88,320 | +€57,793 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €30,528 | €88,320 | +€57,793 | +189% |
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 22 October 2026 via checked.be.