EXCELLENCE BRUSSELS: 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.
EXCELLENCE BRUSSELS
Largest movements
- Cash +€52,669
up €52,669 (+70.0%), from €75,282 to €127,951
mainly Depreciation (+€32,006) and Net result for the year (+€22,951)
- Tangible fixed assets -€32,006
down €32,006 (-4.6%), from €688,385 to €656,379
- Reserves +€22,951
up €22,951 (+39.9%), from €57,528 to €80,479
of which Distributable reserves: +€21,803
- Financial income -€70,248
no longer reported in 2024 (was €70,248)
of which Non-recurring financial income: -€70,227
- Gross operating margin +€10,154
up €10,154 (+16.1%), from €63,241 to €73,396
- Other operating charges +€10,037
up €10,037 (+200,735%), from €5 to €10,042
- Financial charges -€5,618
down €5,618 (-95.3%), from €5,894 to €276
- Taxes +€5,433
up €5,433 (+202%), from €2,688 to €8,121
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.
Derived cash bridge
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 | €763,667 | €787,583 | +€23,916 | +3.1% |
| Fixed assets | 21/28 | €688,385 | €656,379 | -€32,006 | -4.6% |
| Tangible fixed assets | 22/27 | €688,385 | €656,379 | -€32,006 | -4.6% |
| Land and buildings | 22 | €688,385 | €656,379 | -€32,006 | -4.6% |
| Current assets | 29/58 | €75,282 | €131,204 | +€55,922 | +74.3% |
| Amounts receivable within one year | 40/41 | - | €2,530 | +€2,530 | |
| Trade receivables | 40 | - | €1,709 | +€1,709 | |
| Other amounts receivable | 41 | - | €821 | +€821 | |
| Cash at bank and in hand | 54/58 | €75,282 | €127,951 | +€52,669 | +70.0% |
| Deferred charges and accrued income | 490/1 | - | €723 | +€723 | |
| Total equity and liabilities | 10/49 | €763,667 | €787,583 | +€23,916 | +3.1% |
| Equity | 10/15 | €760,458 | €783,409 | +€22,951 | +3.0% |
| Contributions | 10/11 | €702,930 | €702,930 | = | 0.0% |
| Capital | 10 | €702,930 | €702,930 | = | 0.0% |
| Issued capital | 100 | €702,930 | €702,930 | = | 0.0% |
| Reserves | 13 | €57,528 | €80,479 | +€22,951 | +39.9% |
| Non-distributable reserves | 130/1 | €2,876 | €4,024 | +€1,148 | +39.9% |
| Legal reserve | 130 | €2,876 | €4,024 | +€1,148 | +39.9% |
| Distributable reserves | 133 | €54,652 | €76,455 | +€21,803 | +39.9% |
| Amounts payable | 17/49 | €3,208 | €4,174 | +€965 | +30.1% |
| Amounts payable within one year | 42/48 | €3,208 | €2,767 | -€441 | -13.8% |
| Taxes, remuneration and social security | 45 | €2,688 | €1,921 | -€767 | -28.5% |
| Taxes | 450/3 | €2,688 | €1,921 | -€767 | -28.5% |
| Other amounts payable | 47/48 | €520 | €846 | +€326 | +62.7% |
| Accrued charges and deferred income | 492/3 | - | €1,407 | +€1,407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,088 | €32,006 | -€1,081 | -3.3% |
| Other operating charges | 640/8 | €5 | €10,042 | +€10,037 | +200,735% |
| Gross operating margin | 9900 | €63,241 | €73,396 | +€10,154 | +16.1% |
| Operating profit (loss) | 9901 | €30,148 | €31,347 | +€1,199 | +4.0% |
| Financial income | 75/76B | €70,248 | - | -€70,248 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Non-recurring financial income | 76B | €70,227 | - | -€70,227 | |
| Financial charges | 65/66B | €5,894 | €276 | -€5,618 | -95.3% |
| Recurring financial charges | 65 | €5,894 | €276 | -€5,618 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €94,503 | €31,072 | -€63,431 | -67.1% |
| Income taxes | 67/77 | €2,688 | €8,121 | +€5,433 | +202% |
| Profit (loss) for the period | 9904 | €91,814 | €22,951 | -€68,863 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,814 | €22,951 | -€68,863 | -75.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.