EXCELLENT: 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.
EXCELLENT
Largest movements
- Financial fixed assets +€186,991
up €186,991 (+40.3%), from €463,775 to €650,766
- Receivables within one year -€61,795
down €61,795 (-38.2%), from €161,795 to €100,000
of which Other amounts receivable: -€50,300
- Tangible fixed assets +€52,719
up €52,719 (+1.6%), from €3.2m to €3.3m
of which Land and buildings: +€65,849
- Other debts +€253,859
up €253,859 (+29.4%), from €864,795 to €1.1m
- Other operating charges -€199,552
down €199,552 (-90.2%), from €221,117 to €21,565
- Depreciation +€77,888
up €77,888 (+281.9%), from €27,634 to €105,522
- Gross operating margin +€62,547
up €62,547 (+216.1%), from €28,945 to €91,492
- Financial charges +€11,193
up €11,193 (+67.0%), from €16,717 to €27,910
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.
Cash bridge derived
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 | €3,873,726 | €4,025,883 | +€152,158 | +3.9% |
| Fixed assets | 21/28 | €3,675,515 | €3,915,225 | +€239,710 | +6.5% |
| Tangible fixed assets | 22/27 | €3,211,740 | €3,264,459 | +€52,719 | +1.6% |
| Land and buildings | 22 | €3,160,802 | €3,226,651 | +€65,849 | +2.1% |
| Plant, machinery and equipment | 23 | €1,275 | €1,275 | = | 0.0% |
| Furniture and vehicles | 24 | €49,662 | €36,533 | -€13,130 | -26.4% |
| Financial fixed assets | 28 | €463,775 | €650,766 | +€186,991 | +40.3% |
| Current assets | 29/58 | €198,211 | €110,658 | -€87,553 | -44.2% |
| Amounts receivable within one year | 40/41 | €161,795 | €100,000 | -€61,795 | -38.2% |
| Trade receivables | 40 | €11,495 | - | -€11,495 | |
| Other amounts receivable | 41 | €150,300 | €100,000 | -€50,300 | -33.5% |
| Cash at bank and in hand | 54/58 | €25,704 | €639 | -€25,065 | -97.5% |
| Deferred charges and accrued income | 490/1 | €10,711 | €10,019 | -€692 | -6.5% |
| Total equity and liabilities | 10/49 | €3,873,726 | €4,025,883 | +€152,158 | +3.9% |
| Equity | 10/15 | €2,445,009 | €2,422,731 | -€22,278 | -0.9% |
| Contributions | 10/11 | - | €7,600 | +€7,600 | |
| Reserves | 13 | €2,969,559 | €2,970,057 | +€498 | 0.0% |
| Non-distributable reserves | 130/1 | - | €498 | +€498 | |
| Reserves not available under the articles | 1311 | - | €498 | +€498 | |
| Distributable reserves | 133 | €2,969,559 | €2,969,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€524,550 | -€554,926 | -€30,376 | -5.8% |
| Amounts payable | 17/49 | €1,428,717 | €1,603,153 | +€174,436 | +12.2% |
| Amounts payable within one year | 42/48 | €1,428,717 | €1,603,153 | +€174,436 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €15,361 | - | -€15,361 | |
| Financial debts | 43 | €500,000 | €470,000 | -€30,000 | -6.0% |
| Credit institutions | 430/8 | €500,000 | €470,000 | -€30,000 | -6.0% |
| Trade debts | 44 | €6,120 | €8,174 | +€2,054 | +33.6% |
| Suppliers | 440/4 | €6,120 | €8,174 | +€2,054 | +33.6% |
| Taxes, remuneration and social security | 45 | €42,441 | €6,325 | -€36,116 | -85.1% |
| Taxes | 450/3 | €42,441 | €6,325 | -€36,116 | -85.1% |
| Other amounts payable | 47/48 | €864,795 | €1,118,654 | +€253,859 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,634 | €105,522 | +€77,888 | +281.9% |
| Other operating charges | 640/8 | €221,117 | €21,565 | -€199,552 | -90.2% |
| Gross operating margin | 9900 | €28,945 | €91,492 | +€62,547 | +216.1% |
| Operating profit (loss) | 9901 | -€219,806 | -€35,595 | +€184,211 | +83.8% |
| Financial income | 75/76B | €5,462 | €6,013 | +€552 | +10.1% |
| Recurring financial income | 75 | €5,462 | €6,013 | +€552 | +10.1% |
| Financial charges | 65/66B | €16,717 | €27,910 | +€11,193 | +67.0% |
| Recurring financial charges | 65 | €16,717 | €27,910 | +€11,193 | +67.0% |
| Profit (loss) for the period before taxes | 9903 | -€231,061 | -€57,492 | +€173,569 | +75.1% |
| Profit (loss) for the period | 9904 | -€231,061 | -€57,492 | +€173,569 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€231,061 | -€57,492 | +€173,569 | +75.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.