EXCELLEER: 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.
EXCELLEER
Largest movements
- Cash -€6,077
down €6,077 (-81.4%), from €7,462 to €1,385
mainly Trade debts (-€8,705) and Net result for the year (-€5,352)
- Receivables within one year -€4,151
down €4,151 (-38.6%), from €10,757 to €6,606
of which Other amounts receivable: -€3,980
- Tangible fixed assets -€2,085
down €2,085 (-40.3%), from €5,171 to €3,086
- Deferred charges and accrued income +€312
new in 2025: €312
- Trade debts -€8,705
down €8,705 (-99.8%), from €8,723 to €18
- Tax, wage and social debts +€6,284
up €6,284 (+211.0%), from €2,978 to €9,262
of which Remuneration and social security: +€5,772
- Profit (loss) carried forward -€5,352
down €5,352 (-21.5%), from -€24,861 to -€30,213
- Other debts -€4,228
down €4,228 (-42.1%), from €10,050 to €5,822
- Gross operating margin +€10,474
up €10,474 (+79.5%), from -€13,181 to -€2,707
- Taxes -€685
no longer reported in 2025 (was €685)
- Other operating charges +€449
up €449 (+724.7%), from €62 to €511
- Depreciation -€399
down €399 (-16.1%), from €2,484 to €2,085
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 | €23,390 | €11,389 | -€12,001 | -51.3% |
| Fixed assets | 21/28 | €5,171 | €3,086 | -€2,085 | -40.3% |
| Tangible fixed assets | 22/27 | €5,171 | €3,086 | -€2,085 | -40.3% |
| Plant, machinery and equipment | 23 | €5,171 | €3,086 | -€2,085 | -40.3% |
| Current assets | 29/58 | €18,219 | €8,303 | -€9,916 | -54.4% |
| Amounts receivable within one year | 40/41 | €10,757 | €6,606 | -€4,151 | -38.6% |
| Trade receivables | 40 | €2,989 | €2,818 | -€171 | -5.7% |
| Other amounts receivable | 41 | €7,768 | €3,788 | -€3,980 | -51.2% |
| Cash at bank and in hand | 54/58 | €7,462 | €1,385 | -€6,077 | -81.4% |
| Deferred charges and accrued income | 490/1 | - | €312 | +€312 | |
| Total equity and liabilities | 10/49 | €23,390 | €11,389 | -€12,001 | -51.3% |
| Equity | 10/15 | -€18,361 | -€23,713 | -€5,352 | -29.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,861 | -€30,213 | -€5,352 | -21.5% |
| Amounts payable | 17/49 | €41,751 | €35,102 | -€6,649 | -15.9% |
| Amounts payable within one year | 42/48 | €41,751 | €35,102 | -€6,649 | -15.9% |
| Financial debts | 43 | €20,000 | €20,000 | = | 0.0% |
| Other loans | 439 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €8,723 | €18 | -€8,705 | -99.8% |
| Suppliers | 440/4 | €8,723 | €18 | -€8,705 | -99.8% |
| Taxes, remuneration and social security | 45 | €2,978 | €9,262 | +€6,284 | +211.0% |
| Taxes | 450/3 | €2,978 | €3,490 | +€512 | +17.2% |
| Remuneration and social security | 454/9 | - | €5,772 | +€5,772 | |
| Other amounts payable | 47/48 | €10,050 | €5,822 | -€4,228 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,484 | €2,085 | -€399 | -16.1% |
| Other operating charges | 640/8 | €62 | €511 | +€449 | +724.7% |
| Gross operating margin | 9900 | -€13,181 | -€2,707 | +€10,474 | +79.5% |
| Operating profit (loss) | 9901 | -€15,727 | -€5,303 | +€10,424 | +66.3% |
| Financial income | 75/76B | €1 | €32 | +€31 | +2612.6% |
| Recurring financial income | 75 | €1 | €32 | +€31 | +2612.6% |
| Financial charges | 65/66B | €160 | €81 | -€79 | -49.2% |
| Recurring financial charges | 65 | €160 | €81 | -€79 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,886 | -€5,352 | +€10,534 | +66.3% |
| Income taxes | 67/77 | €685 | - | -€685 | |
| Profit (loss) for the period | 9904 | -€16,571 | -€5,352 | +€11,219 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,571 | -€5,352 | +€11,219 | +67.7% |
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 30 September 2026 via checked.be.