EXCELLGEM: 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.
EXCELLGEM
Largest movements
- Deferred charges and accrued income +€7,950
new in 2025: €7,950
- Tangible fixed assets -€3,316
down €3,316 (-43.4%), from €7,643 to €4,327
- Cash -€2,359
down €2,359 (-31.3%), from €7,548 to €5,189
mainly Advances received (-€15,000) and Deferred charges and accrued income (-€7,950)
- Advances received -€15,000
no longer reported in 2025 (was €15,000)
- Profit (loss) carried forward +€13,138
up €13,138 (+28.6%), from €45,911 to €59,049
- Tax, wage and social debts -€5,037
no longer reported in 2025 (was €5,037)
- Short-term financial debts +€4,485
up €4,485 (+39.9%), from €11,249 to €15,734
- Trade debts +€4,214
up €4,214 (+766.2%), from €550 to €4,764
- Gross operating margin +€16,800
up €16,800 (+1169.5%), from €1,437 to €18,237
- Taxes +€1,230
new in 2025: €1,230
- Financial charges -€655
down €655 (-90.7%), from €722 to €67
- Financial income -€230
down €230 (-86.9%), from €265 to €35
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.
Cash bridge derived
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 | €100,399 | €102,199 | +€1,800 | +1.8% |
| Fixed assets | 21/28 | €7,643 | €4,327 | -€3,316 | -43.4% |
| Tangible fixed assets | 22/27 | €7,643 | €4,327 | -€3,316 | -43.4% |
| Furniture and vehicles | 24 | €7,643 | €4,327 | -€3,316 | -43.4% |
| Current assets | 29/58 | €92,756 | €97,872 | +€5,116 | +5.5% |
| Stocks and contracts in progress | 3 | €85,208 | €84,208 | -€1,000 | -1.2% |
| Stocks | 30/36 | €85,208 | €84,208 | -€1,000 | -1.2% |
| Amounts receivable within one year | 40/41 | - | €525 | +€525 | |
| Other amounts receivable | 41 | - | €525 | +€525 | |
| Cash at bank and in hand | 54/58 | €7,548 | €5,189 | -€2,359 | -31.3% |
| Deferred charges and accrued income | 490/1 | - | €7,950 | +€7,950 | |
| Total equity and liabilities | 10/49 | €100,399 | €102,199 | +€1,800 | +1.8% |
| Equity | 10/15 | €68,563 | €81,701 | +€13,138 | +19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,052 | €4,052 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,822 | €1,822 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,822 | €1,822 | = | 0.0% |
| Distributable reserves | 133 | €2,230 | €2,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,911 | €59,049 | +€13,138 | +28.6% |
| Amounts payable | 17/49 | €31,836 | €20,498 | -€11,338 | -35.6% |
| Amounts payable within one year | 42/48 | €31,836 | €20,498 | -€11,338 | -35.6% |
| Financial debts | 43 | €11,249 | €15,734 | +€4,485 | +39.9% |
| Other loans | 439 | €11,249 | €15,734 | +€4,485 | +39.9% |
| Trade debts | 44 | €550 | €4,764 | +€4,214 | +766.2% |
| Suppliers | 440/4 | €550 | €4,764 | +€4,214 | +766.2% |
| Advances received on contracts in progress | 46 | €15,000 | - | -€15,000 | |
| Taxes, remuneration and social security | 45 | €5,037 | - | -€5,037 | |
| Taxes | 450/3 | €5,037 | - | -€5,037 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,373 | €3,316 | -€56 | -1.7% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €1,437 | €18,237 | +€16,800 | +1169.5% |
| Operating profit (loss) | 9901 | -€2,441 | €14,401 | +€16,842 | |
| Financial income | 75/76B | €265 | €35 | -€230 | -86.9% |
| Recurring financial income | 75 | €265 | €35 | -€230 | -86.9% |
| Financial charges | 65/66B | €722 | €67 | -€655 | -90.7% |
| Recurring financial charges | 65 | €722 | €67 | -€655 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,899 | €14,368 | +€17,267 | |
| Income taxes | 67/77 | - | €1,230 | +€1,230 | |
| Profit (loss) for the period | 9904 | -€2,899 | €13,138 | +€16,037 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,899 | €13,138 | +€16,037 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.