EXCELLENCE CONSULTING: 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 CONSULTING
Largest movements
- Financial fixed assets +€65.7m
up €65.7m (+1,568%), from €4.2m to €69.9m
- Receivables within one year +€1.0m
up €1.0m (+132%), from €772,642 to €1.8m
of which Other amounts receivable: +€858,625
- Cash -€917,765
down €917,765 (-92.4%), from €993,608 to €75,843
mainly Investment in fixed assets (net) (-€65.8m) and Debts after one year (-€2.1m)
- Other debts +€40.8m
up €40.8m (+2,826%), from €1.4m to €42.2m
- Profit (loss) carried forward +€26.5m
up €26.5m (+144,003%), from €18,397 to €26.5m
- Debts after one year -€2.1m
down €2.1m (-100%), from €2.1m to €0
- Financial income +€26.9m
up €26.9m (+12,398%), from €217,247 to €27.2m
of which Non-recurring financial income: +€27.1m
- Financial charges +€811,044
up €811,044 (+425,924%), from €190 to €811,235
- Gross operating margin +€453,469
up €453,469 (+457%), from €99,174 to €552,643
- Depreciation +€113,769
up €113,769 (+103%), from €110,759 to €224,528
- Taxes +€19,540
up €19,540 (+115%), from €16,931 to €36,472
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,755,831 | €79,190,427 | +€65.4m | +476% |
| Fixed assets | 21/28 | €8,759,992 | €74,383,472 | +€65.6m | +749% |
| Tangible fixed assets | 22/27 | €4,569,744 | €4,475,272 | -€94,472 | -2.1% |
| Land and buildings | 22 | €4,549,934 | €4,461,711 | -€88,223 | -1.9% |
| Plant, machinery and equipment | 23 | €1,089 | €0 | -€1,089 | -100% |
| Furniture and vehicles | 24 | €18,722 | €13,561 | -€5,161 | -27.6% |
| Financial fixed assets | 28 | €4,190,247 | €69,908,199 | +€65.7m | +1,568% |
| Current assets | 29/58 | €4,995,839 | €4,806,956 | -€188,883 | -3.8% |
| Amounts receivable after more than one year | 29 | €1,065,000 | €1,065,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,065,000 | €1,065,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €772,642 | €1,791,824 | +€1.0m | +132% |
| Trade receivables | 40 | €104,980 | €265,537 | +€160,557 | +153% |
| Other amounts receivable | 41 | €667,662 | €1,526,287 | +€858,625 | +129% |
| Current investments | 50/53 | €2,161,766 | €1,845,908 | -€315,858 | -14.6% |
| Cash at bank and in hand | 54/58 | €993,608 | €75,843 | -€917,765 | -92.4% |
| Deferred charges and accrued income | 490/1 | €2,823 | €28,381 | +€25,558 | +905% |
| Total equity and liabilities | 10/49 | €13,755,831 | €79,190,427 | +€65.4m | +476% |
| Equity | 10/15 | €10,206,897 | €36,823,950 | +€26.6m | +261% |
| Contributions | 10/11 | €2,400,000 | €2,400,000 | = | 0.0% |
| Capital | 10 | €2,400,000 | €2,400,000 | = | 0.0% |
| Issued capital | 100 | €2,400,000 | €2,400,000 | = | 0.0% |
| Reserves | 13 | €7,788,500 | €7,913,500 | +€125,000 | +1.6% |
| Non-distributable reserves | 130/1 | €115,000 | €240,000 | +€125,000 | +109% |
| Legal reserve | 130 | €115,000 | €240,000 | +€125,000 | +109% |
| Tax-exempt reserves | 132 | €9,500 | €9,500 | = | 0.0% |
| Distributable reserves | 133 | €7,664,000 | €7,664,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,397 | €26,510,450 | +€26.5m | +144,003% |
| Amounts payable | 17/49 | €3,548,934 | €42,366,478 | +€38.8m | +1,094% |
| Amounts payable after more than one year | 17 | €2,050,000 | €0 | -€2.1m | -100% |
| Financial debts | 170/4 | €2,050,000 | €0 | -€2.1m | -100% |
| Amounts payable within one year | 42/48 | €1,498,934 | €42,366,245 | +€40.9m | +2,726% |
| Trade debts | 44 | €36,480 | €80,847 | +€44,368 | +122% |
| Suppliers | 440/4 | €36,480 | €80,847 | +€44,368 | +122% |
| Taxes, remuneration and social security | 45 | €18,779 | €37,825 | +€19,046 | +101% |
| Taxes | 450/3 | €18,779 | €35,475 | +€16,696 | +88.9% |
| Remuneration and social security | 454/9 | - | €2,350 | +€2,350 | |
| Other amounts payable | 47/48 | €1,443,675 | €42,247,573 | +€40.8m | +2,826% |
| Accrued charges and deferred income | 492/3 | - | €232 | +€232 | |
| Non-recurring operating income | 76A | €2,062 | €0 | -€2,062 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,759 | €224,528 | +€113,769 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,500 | +€3,500 | |
| Other operating charges | 640/8 | €9,073 | €11,952 | +€2,879 | +31.7% |
| Gross operating margin | 9900 | €99,174 | €552,643 | +€453,469 | +457% |
| Operating profit (loss) | 9901 | -€20,657 | €312,663 | +€333,321 | |
| Financial income | 75/76B | €217,247 | €27,152,096 | +€26.9m | +12,398% |
| Recurring financial income | 75 | €217,247 | €19,673 | -€197,574 | -90.9% |
| Non-recurring financial income | 76B | - | €27,132,423 | +€27.1m | |
| Financial charges | 65/66B | €190 | €811,235 | +€811,044 | +425,924% |
| Recurring financial charges | 65 | €190 | €811,235 | +€811,044 | +425,924% |
| Profit (loss) for the period before taxes | 9903 | €196,399 | €26,653,524 | +€26.5m | +13,471% |
| Income taxes | 67/77 | €16,931 | €36,472 | +€19,540 | +115% |
| Profit (loss) for the period | 9904 | €179,468 | €26,617,053 | +€26.4m | +14,731% |
| Profit (loss) for the period to be appropriated | 9905 | €179,468 | €26,617,053 | +€26.4m | +14,731% |
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 15 October 2026 via checked.be.