Excellent Locations: 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.
Excellent Locations
Largest movements
- Receivables within one year +€949,133
up €949,133 (+533%), from €178,071 to €1.1m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€667,431
down €667,431 (-21.7%), from €3.1m to €2.4m
of which Land and buildings: -€657,844
- Receivables after one year -€50,000
down €50,000 (-48.3%), from €103,500 to €53,500
- Other debts +€382,694
up €382,694 (+14.5%), from €2.6m to €3.0m
- Profit (loss) carried forward +€204,318
up €204,318 (+35.3%), from -€579,474 to -€375,156
- Trade debts -€187,842
down €187,842 (-55.0%), from €341,507 to €153,665
- Debts after one year -€154,750
down €154,750 (-79.5%), from €194,750 to €40,000
- Financial charges -€583,329
down €583,329 (-99.6%), from €585,899 to €2,570
of which Non-recurring financial charges: -€578,500
- Gross operating margin +€45,981
up €45,981 (+26.0%), from €176,685 to €222,666
- Financial income +€14,783
up €14,783 (+292%), from €5,061 to €19,844
- Depreciation +€9,819
up €9,819 (+38.1%), from €25,746 to €35,565
- Other operating charges +€2,340
up €2,340 (+78.6%), from €2,977 to €5,317
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 | €3,385,452 | €3,609,813 | +€224,361 | +6.6% |
| Fixed assets | 21/28 | €3,078,479 | €2,411,048 | -€667,431 | -21.7% |
| Tangible fixed assets | 22/27 | €3,078,479 | €2,411,048 | -€667,431 | -21.7% |
| Land and buildings | 22 | €3,055,626 | €2,397,782 | -€657,844 | -21.5% |
| Plant, machinery and equipment | 23 | €157 | €17 | -€140 | -89.2% |
| Furniture and vehicles | 24 | €22,299 | €13,249 | -€9,050 | -40.6% |
| Other tangible fixed assets | 26 | €397 | - | -€397 | |
| Current assets | 29/58 | €306,973 | €1,198,765 | +€891,792 | +291% |
| Amounts receivable after more than one year | 29 | €103,500 | €53,500 | -€50,000 | -48.3% |
| Other amounts receivable | 291 | €103,500 | €53,500 | -€50,000 | -48.3% |
| Amounts receivable within one year | 40/41 | €178,071 | €1,127,204 | +€949,133 | +533% |
| Trade receivables | 40 | €178,071 | €101,266 | -€76,805 | -43.1% |
| Other amounts receivable | 41 | - | €1,025,938 | +€1.0m | |
| Current investments | 50/53 | €14,531 | €8,960 | -€5,571 | -38.3% |
| Cash at bank and in hand | 54/58 | €9,727 | €8,419 | -€1,308 | -13.4% |
| Deferred charges and accrued income | 490/1 | €1,144 | €682 | -€462 | -40.4% |
| Total equity and liabilities | 10/49 | €3,385,452 | €3,609,813 | +€224,361 | +6.6% |
| Equity | 10/15 | €22,902 | €219,361 | +€196,459 | +858% |
| Contributions | 10/11 | €101,000 | €101,000 | = | 0.0% |
| Reserves | 13 | €501,376 | €493,517 | -€7,859 | -1.6% |
| Tax-exempt reserves | 132 | €491,276 | €483,417 | -€7,859 | -1.6% |
| Distributable reserves | 133 | €10,100 | €10,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€579,474 | -€375,156 | +€204,318 | +35.3% |
| Provisions and deferred taxes | 16 | €163,759 | €161,139 | -€2,620 | -1.6% |
| Deferred taxes | 168 | €163,759 | €161,139 | -€2,620 | -1.6% |
| Amounts payable | 17/49 | €3,198,791 | €3,229,313 | +€30,522 | +1.0% |
| Amounts payable after more than one year | 17 | €194,750 | €40,000 | -€154,750 | -79.5% |
| Other amounts payable | 178/9 | €194,750 | €40,000 | -€154,750 | -79.5% |
| Amounts payable within one year | 42/48 | €3,004,041 | €3,189,313 | +€185,272 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €10,761 | - | -€10,761 | |
| Trade debts | 44 | €341,507 | €153,665 | -€187,842 | -55.0% |
| Suppliers | 440/4 | €341,507 | €153,665 | -€187,842 | -55.0% |
| Taxes, remuneration and social security | 45 | €5,820 | €7,001 | +€1,181 | +20.3% |
| Taxes | 450/3 | €5,820 | €7,001 | +€1,181 | +20.3% |
| Other amounts payable | 47/48 | €2,645,953 | €3,028,647 | +€382,694 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,746 | €35,565 | +€9,819 | +38.1% |
| Other operating charges | 640/8 | €2,977 | €5,317 | +€2,340 | +78.6% |
| Gross operating margin | 9900 | €176,685 | €222,666 | +€45,981 | +26.0% |
| Operating profit (loss) | 9901 | €147,962 | €181,784 | +€33,822 | +22.9% |
| Financial income | 75/76B | €5,061 | €19,844 | +€14,783 | +292% |
| Recurring financial income | 75 | €5,061 | €19,844 | +€14,783 | +292% |
| Financial charges | 65/66B | €585,899 | €2,570 | -€583,329 | -99.6% |
| Recurring financial charges | 65 | €7,399 | €2,570 | -€4,829 | -65.3% |
| Non-recurring financial charges | 66B | €578,500 | - | -€578,500 | |
| Profit (loss) for the period before taxes | 9903 | -€432,876 | €199,058 | +€631,934 | |
| Transfer from deferred taxes | 780 | €15,913 | €7,859 | -€8,054 | -50.6% |
| Income taxes | 67/77 | €3,168 | €5,219 | +€2,051 | +64.7% |
| Profit (loss) for the period | 9904 | -€420,131 | €201,698 | +€621,829 | |
| Transfer from tax-exempt reserves | 789 | €5,304 | €2,620 | -€2,684 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€414,827 | €204,318 | +€619,145 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.