EXCELLENCE - VILVOORDE: 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 - VILVOORDE
Largest movements
- Cash +€35,798
up €35,798 (+409%), from €8,762 to €44,561
mainly Depreciation (+€52,698) and Other debts (+€40,000)
- Tangible fixed assets -€18,448
down €18,448 (-1.1%), from €1.7m to €1.6m
of which Land and buildings: -€48,253
- Other debts +€40,000
up €40,000 (+2.9%), from €1.4m to €1.4m
- Gross operating margin +€42,065
up €42,065 (+162%), from €25,935 to €68,001
- Other operating charges +€7,678
up €7,678 (+341%), from €2,249 to €9,928
- Financial charges -€802
down €802 (-4.7%), from €17,065 to €16,264
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 | €1,659,707 | €1,677,057 | +€17,351 | +1.0% |
| Fixed assets | 21/28 | €1,650,944 | €1,632,497 | -€18,448 | -1.1% |
| Tangible fixed assets | 22/27 | €1,650,944 | €1,632,497 | -€18,448 | -1.1% |
| Land and buildings | 22 | €1,527,460 | €1,479,207 | -€48,253 | -3.2% |
| Furniture and vehicles | 24 | - | €13,664 | +€13,664 | |
| Other tangible fixed assets | 26 | €123,485 | €139,626 | +€16,141 | +13.1% |
| Current assets | 29/58 | €8,762 | €44,561 | +€35,798 | +409% |
| Cash at bank and in hand | 54/58 | €8,762 | €44,561 | +€35,798 | +409% |
| Total equity and liabilities | 10/49 | €1,659,707 | €1,677,057 | +€17,351 | +1.0% |
| Equity | 10/15 | -€77,919 | -€88,807 | -€10,889 | -14.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | €3,000 | = | 0.0% |
| Issued capital | 100 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,919 | -€91,807 | -€10,889 | -13.5% |
| Amounts payable | 17/49 | €1,737,626 | €1,765,865 | +€28,239 | +1.6% |
| Amounts payable after more than one year | 17 | €359,593 | €345,550 | -€14,043 | -3.9% |
| Financial debts | 170/4 | €354,433 | €340,390 | -€14,043 | -4.0% |
| Other amounts payable | 178/9 | €5,160 | €5,160 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,377,383 | €1,420,315 | +€42,932 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €13,439 | €14,043 | +€603 | +4.5% |
| Trade debts | 44 | €544 | €2,872 | +€2,329 | +428% |
| Suppliers | 440/4 | €544 | €2,872 | +€2,329 | +428% |
| Other amounts payable | 47/48 | €1,363,400 | €1,403,400 | +€40,000 | +2.9% |
| Accrued charges and deferred income | 492/3 | €650 | - | -€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,112 | €52,698 | +€586 | +1.1% |
| Other operating charges | 640/8 | €2,249 | €9,928 | +€7,678 | +341% |
| Gross operating margin | 9900 | €25,935 | €68,001 | +€42,065 | +162% |
| Operating profit (loss) | 9901 | -€28,426 | €5,375 | +€33,801 | |
| Financial charges | 65/66B | €17,065 | €16,264 | -€802 | -4.7% |
| Recurring financial charges | 65 | €17,065 | €16,264 | -€802 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€45,492 | -€10,889 | +€34,603 | +76.1% |
| Profit (loss) for the period | 9904 | -€45,492 | -€10,889 | +€34,603 | +76.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,492 | -€10,889 | +€34,603 | +76.1% |
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 21 October 2026 via checked.be.