EXCELLIS: 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.
EXCELLIS
Largest movements
- Receivables within one year +€128,298
up €128,298 (+146%), from €87,605 to €215,903
of which Trade receivables: +€123,610
- Formation expenses +€36,886
new in 2025: €36,886
- Intangible fixed assets -€15,200
down €15,200 (-50.0%), from €30,401 to €15,200
- Tangible fixed assets -€7,523
down €7,523 (-100%), from €7,523 to €0
of which Plant, machinery and equipment: -€7,523
- Trade debts +€91,266
up €91,266 (+108%), from €84,572 to €175,837
- Other debts +€53,700
up €53,700 (+9.7%), from €555,399 to €609,099
- Tax, wage and social debts -€8,930
down €8,930 (-32.6%), from €27,381 to €18,451
of which Taxes: -€5,778
- Profit (loss) carried forward +€8,415
up €8,415 (+1.5%), from -€558,999 to -€550,584
- Staff costs +€55,452
up €55,452 (+39.5%), from €140,349 to €195,800
- Gross operating margin +€53,084
up €53,084 (+43.5%), from €122,085 to €175,168
- Depreciation -€9,598
down €9,598 (-30.4%), from €31,529 to €21,931
- Financial income +€4,585
up €4,585 (+73.7%), from €6,220 to €10,804
of which Non-recurring financial income: +€4,781
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 | €127,402 | €272,363 | +€144,961 | +114% |
| Formation expenses | 20 | - | €36,886 | +€36,886 | |
| Fixed assets | 21/28 | €37,923 | €15,200 | -€22,723 | -59.9% |
| Intangible fixed assets | 21 | €30,401 | €15,200 | -€15,200 | -50.0% |
| Tangible fixed assets | 22/27 | €7,523 | €0 | -€7,523 | -100% |
| Plant, machinery and equipment | 23 | €7,523 | €0 | -€7,523 | -100% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €89,478 | €220,277 | +€130,798 | +146% |
| Amounts receivable within one year | 40/41 | €87,605 | €215,903 | +€128,298 | +146% |
| Trade receivables | 40 | €87,605 | €211,215 | +€123,610 | +141% |
| Other amounts receivable | 41 | - | €4,688 | +€4,688 | |
| Cash at bank and in hand | 54/58 | €1,873 | €3,982 | +€2,109 | +113% |
| Deferred charges and accrued income | 490/1 | - | €391 | +€391 | |
| Total equity and liabilities | 10/49 | €127,402 | €272,363 | +€144,961 | +114% |
| Equity | 10/15 | -€540,449 | -€532,034 | +€8,415 | +1.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€558,999 | -€550,584 | +€8,415 | +1.5% |
| Amounts payable | 17/49 | €667,851 | €804,396 | +€136,545 | +20.4% |
| Amounts payable within one year | 42/48 | €667,351 | €803,387 | +€136,036 | +20.4% |
| Trade debts | 44 | €84,572 | €175,837 | +€91,266 | +108% |
| Suppliers | 440/4 | €84,572 | €175,837 | +€91,266 | +108% |
| Taxes, remuneration and social security | 45 | €27,381 | €18,451 | -€8,930 | -32.6% |
| Taxes | 450/3 | €6,743 | €966 | -€5,778 | -85.7% |
| Remuneration and social security | 454/9 | €20,637 | €17,485 | -€3,152 | -15.3% |
| Other amounts payable | 47/48 | €555,399 | €609,099 | +€53,700 | +9.7% |
| Accrued charges and deferred income | 492/3 | €500 | €1,010 | +€510 | +102% |
| Remuneration, social security and pensions | 62 | €140,349 | €195,800 | +€55,452 | +39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,529 | €21,931 | -€9,598 | -30.4% |
| Other operating charges | 640/8 | €635 | €863 | +€228 | +35.9% |
| Operating charges capitalised as restructuring costs | 649 | - | -€41,348 | -€41,348 | |
| Gross operating margin | 9900 | €122,085 | €175,168 | +€53,084 | +43.5% |
| Operating profit (loss) | 9901 | -€50,429 | -€2,079 | +€48,350 | +95.9% |
| Financial income | 75/76B | €6,220 | €10,804 | +€4,585 | +73.7% |
| Recurring financial income | 75 | €1,500 | €1,304 | -€196 | -13.1% |
| Non-recurring financial income | 76B | €4,719 | €9,500 | +€4,781 | +101% |
| Financial charges | 65/66B | €48 | €310 | +€261 | +540% |
| Recurring financial charges | 65 | €48 | €310 | +€261 | +540% |
| Profit (loss) for the period before taxes | 9903 | -€44,258 | €8,415 | +€52,673 | |
| Profit (loss) for the period | 9904 | -€44,258 | €8,415 | +€52,673 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,258 | €8,415 | +€52,673 |
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 31 October 2026 via checked.be.