Excelling: 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.
Excelling
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves -€97,253
down €97,253 (-97.0%), from €100,306 to €3,053
- Other debts +€91,710
up €91,710 (+731%), from €12,550 to €104,260
- Tax, wage and social debts +€6,427
up €6,427 (+27.4%), from €23,478 to €29,905
of which Taxes: +€23,527
- Gross operating margin +€37,731
up €37,731 (+177%), from €21,265 to €58,995
- Taxes +€8,439
up €8,439 (+301%), from €2,807 to €11,245
- Staff costs -€2,460
down €2,460 (-93.6%), from €2,627 to €167
- Depreciation +€1,279
up €1,279 (+71.5%), from €1,790 to €3,069
- Financial charges -€924
down €924 (-40.6%), from €2,278 to €1,354
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 | €143,457 | €144,484 | +€1,027 | +0.7% |
| Fixed assets | 21/28 | €3,783 | €4,546 | +€762 | +20.1% |
| Tangible fixed assets | 22/27 | €3,783 | €4,546 | +€762 | +20.1% |
| Furniture and vehicles | 24 | €3,783 | €4,546 | +€762 | +20.1% |
| Current assets | 29/58 | €139,673 | €139,938 | +€265 | +0.2% |
| Amounts receivable within one year | 40/41 | €132,241 | €132,380 | +€139 | +0.1% |
| Trade receivables | 40 | €82,241 | €82,380 | +€139 | +0.2% |
| Other amounts receivable | 41 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,102 | €6,887 | -€215 | -3.0% |
| Deferred charges and accrued income | 490/1 | €331 | €671 | +€341 | +103% |
| Total equity and liabilities | 10/49 | €143,457 | €144,484 | +€1,027 | +0.7% |
| Equity | 10/15 | €105,306 | €8,053 | -€97,253 | -92.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €100,306 | €3,053 | -€97,253 | -97.0% |
| Distributable reserves | 133 | €100,306 | €3,053 | -€97,253 | -97.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,151 | €136,431 | +€98,281 | +258% |
| Amounts payable within one year | 42/48 | €38,080 | €136,016 | +€97,936 | +257% |
| Trade debts | 44 | €2,052 | €1,851 | -€201 | -9.8% |
| Suppliers | 440/4 | €2,052 | €1,851 | -€201 | -9.8% |
| Taxes, remuneration and social security | 45 | €23,478 | €29,905 | +€6,427 | +27.4% |
| Taxes | 450/3 | €6,378 | €29,905 | +€23,527 | +369% |
| Remuneration and social security | 454/9 | €17,100 | €0 | -€17,100 | -100% |
| Other amounts payable | 47/48 | €12,550 | €104,260 | +€91,710 | +731% |
| Accrued charges and deferred income | 492/3 | €70 | €415 | +€345 | +490% |
| Remuneration, social security and pensions | 62 | €2,627 | €167 | -€2,460 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,790 | €3,069 | +€1,279 | +71.5% |
| Other operating charges | 640/8 | €141 | €108 | -€33 | -23.3% |
| Gross operating margin | 9900 | €21,265 | €58,995 | +€37,731 | +177% |
| Operating profit (loss) | 9901 | €16,707 | €55,652 | +€38,944 | +233% |
| Financial charges | 65/66B | €2,278 | €1,354 | -€924 | -40.6% |
| Recurring financial charges | 65 | €2,278 | €1,354 | -€924 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €14,430 | €54,298 | +€39,868 | +276% |
| Income taxes | 67/77 | €2,807 | €11,245 | +€8,439 | +301% |
| Profit (loss) for the period | 9904 | €11,623 | €43,053 | +€31,429 | +270% |
| Profit (loss) for the period to be appropriated | 9905 | €11,623 | €43,053 | +€31,429 | +270% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.