Excellerbikes: 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.
Excellerbikes
Largest movements
- Stocks and contracts -€16,348
down €16,348 (-9.8%), from €166,110 to €149,762
- Tangible fixed assets +€8,013
up €8,013 (+522%), from €1,536 to €9,549
of which Furniture and vehicles: +€6,880
- Cash +€2,217
up €2,217 (+38.8%), from €5,712 to €7,929
mainly Debts after one year (+€24,410) and Stocks and contracts (+€16,348)
- Profit (loss) carried forward -€31,845
down €31,845 (-20.2%), from -€157,357 to -€189,202
- Debts after one year +€24,410
up €24,410 (+261%), from €9,340 to €33,750
- Trade debts +€13,913
up €13,913 (+61.4%), from €22,670 to €36,583
- Short-term financial debts -€13,283
down €13,283 (-19.5%), from €68,015 to €54,732
- Current portion of long-term debt +€10,650
up €10,650 (+149%), from €7,153 to €17,802
- Gross operating margin +€4,032
up €4,032 (+10.6%), from €37,915 to €41,947
- Depreciation +€3,811
up €3,811 (+1,198%), from €318 to €4,129
- Financial charges +€2,638
up €2,638 (+19.0%), from €13,867 to €16,504
- Financial income -€1,226
down €1,226 (-47.9%), from €2,561 to €1,335
- Staff costs +€523
up €523 (+1.0%), from €50,416 to €50,939
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 | €175,177 | €167,549 | -€7,628 | -4.4% |
| Fixed assets | 21/28 | €1,536 | €9,549 | +€8,013 | +522% |
| Tangible fixed assets | 22/27 | €1,536 | €9,549 | +€8,013 | +522% |
| Plant, machinery and equipment | 23 | €1,536 | €2,669 | +€1,133 | +73.8% |
| Furniture and vehicles | 24 | - | €6,880 | +€6,880 | |
| Current assets | 29/58 | €173,641 | €158,000 | -€15,641 | -9.0% |
| Stocks and contracts in progress | 3 | €166,110 | €149,762 | -€16,348 | -9.8% |
| Stocks | 30/36 | €166,110 | €149,762 | -€16,348 | -9.8% |
| Amounts receivable within one year | 40/41 | €61 | €88 | +€27 | +43.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €61 | €88 | +€27 | +43.8% |
| Cash at bank and in hand | 54/58 | €5,712 | €7,929 | +€2,217 | +38.8% |
| Deferred charges and accrued income | 490/1 | €1,758 | €221 | -€1,537 | -87.4% |
| Total equity and liabilities | 10/49 | €175,177 | €167,549 | -€7,628 | -4.4% |
| Equity | 10/15 | €16,643 | -€15,202 | -€31,845 | |
| Contributions | 10/11 | €174,000 | €174,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,357 | -€189,202 | -€31,845 | -20.2% |
| Amounts payable | 17/49 | €158,534 | €182,751 | +€24,217 | +15.3% |
| Amounts payable after more than one year | 17 | €9,340 | €33,750 | +€24,410 | +261% |
| Financial debts | 170/4 | €9,340 | €33,750 | +€24,410 | +261% |
| Amounts payable within one year | 42/48 | €149,043 | €148,850 | -€193 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €7,153 | €17,802 | +€10,650 | +149% |
| Financial debts | 43 | €68,015 | €54,732 | -€13,283 | -19.5% |
| Other loans | 439 | €68,015 | €54,732 | -€13,283 | -19.5% |
| Trade debts | 44 | €22,670 | €36,583 | +€13,913 | +61.4% |
| Suppliers | 440/4 | €22,670 | €36,583 | +€13,913 | +61.4% |
| Taxes, remuneration and social security | 45 | €16,687 | €9,731 | -€6,956 | -41.7% |
| Taxes | 450/3 | €13,716 | €4,549 | -€9,167 | -66.8% |
| Remuneration and social security | 454/9 | €2,971 | €5,183 | +€2,212 | +74.5% |
| Other amounts payable | 47/48 | €34,519 | €30,002 | -€4,516 | -13.1% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €50,416 | €50,939 | +€523 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318 | €4,129 | +€3,811 | +1,198% |
| Other operating charges | 640/8 | €3,523 | €3,553 | +€30 | +0.9% |
| Gross operating margin | 9900 | €37,915 | €41,947 | +€4,032 | +10.6% |
| Operating profit (loss) | 9901 | -€16,342 | -€16,674 | -€332 | -2.0% |
| Financial income | 75/76B | €2,561 | €1,335 | -€1,226 | -47.9% |
| Recurring financial income | 75 | €2,561 | €1,335 | -€1,226 | -47.9% |
| Financial charges | 65/66B | €13,867 | €16,504 | +€2,638 | +19.0% |
| Recurring financial charges | 65 | €13,867 | €16,504 | +€2,638 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | -€27,648 | -€31,844 | -€4,196 | -15.2% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€27,648 | -€31,845 | -€4,197 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,648 | -€31,845 | -€4,197 | -15.2% |
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 16 October 2026 via checked.be.