EXCELLIUM SOLUTION: what changed
EXCELLIUM SOLUTION
Largest movements
- Receivables within one year +€74,639
up €74,639 (+30.4%), from €245,720 to €320,359
- Cash -€10,281
down €10,281 (-36.8%), from €27,965 to €17,684
mainly Receivables within one year (-€74,639) and Contributions, distributions and other (-€31,251)
- Trade debts +€22,631
up €22,631 (+57.3%), from €39,464 to €62,095
- Tax, wage and social debts +€21,627
up €21,627 (+37.8%), from €57,211 to €78,838
of which Taxes: +€20,326
- Debts after one year +€10,794
up €10,794 (+42.6%), from €25,315 to €36,109
- Current portion of long-term debt +€5,044
up €5,044 (+73.9%), from €6,821 to €11,865
- Profit (loss) carried forward +€4,128
up €4,128 (+9.5%), from €43,509 to €47,637
- Gross operating margin +€131,079
up €131,079 (+32.1%), from €408,627 to €539,706
- Staff costs +€80,185
up €80,185 (+25.4%), from €315,086 to €395,271
- Write-downs +€27,815
up €27,815 (+293%), from €9,492 to €37,307
- Depreciation +€6,163
up €6,163 (+37.3%), from €16,511 to €22,674
- Other operating charges +€5,945
up €5,945 (+51.4%), from €11,574 to €17,519
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €334,638 | €403,554 | +€68,916 | +20.6% |
| Fixed assets | 21/28 | €57,267 | €61,185 | +€3,918 | +6.8% |
| Tangible fixed assets | 22/27 | €57,267 | €61,185 | +€3,918 | +6.8% |
| Furniture and vehicles | 24 | €57,267 | €61,185 | +€3,918 | +6.8% |
| Current assets | 29/58 | €277,371 | €342,369 | +€64,998 | +23.4% |
| Amounts receivable within one year | 40/41 | €245,720 | €320,359 | +€74,639 | +30.4% |
| Trade receivables | 40 | €245,720 | €320,359 | +€74,639 | +30.4% |
| Cash at bank and in hand | 54/58 | €27,965 | €17,684 | -€10,281 | -36.8% |
| Deferred charges and accrued income | 490/1 | €3,686 | €4,326 | +€640 | +17.4% |
| Total equity and liabilities | 10/49 | €334,638 | €403,554 | +€68,916 | +20.6% |
| Equity | 10/15 | €177,269 | €183,397 | +€6,128 | +3.5% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €90,160 | €92,160 | +€2,000 | +2.2% |
| Distributable reserves | 133 | €90,160 | €92,160 | +€2,000 | +2.2% |
| Profit (loss) carried forward | 14 | €43,509 | €47,637 | +€4,128 | +9.5% |
| Amounts payable | 17/49 | €157,369 | €220,157 | +€62,788 | +39.9% |
| Amounts payable after more than one year | 17 | €25,315 | €36,109 | +€10,794 | +42.6% |
| Financial debts | 170/4 | €25,315 | €36,109 | +€10,794 | +42.6% |
| Amounts payable within one year | 42/48 | €132,054 | €184,048 | +€51,994 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €6,821 | €11,865 | +€5,044 | +73.9% |
| Trade debts | 44 | €39,464 | €62,095 | +€22,631 | +57.3% |
| Suppliers | 440/4 | €39,464 | €62,095 | +€22,631 | +57.3% |
| Taxes, remuneration and social security | 45 | €57,211 | €78,838 | +€21,627 | +37.8% |
| Taxes | 450/3 | €21,125 | €41,451 | +€20,326 | +96.2% |
| Remuneration and social security | 454/9 | €36,086 | €37,387 | +€1,301 | +3.6% |
| Other amounts payable | 47/48 | €28,558 | €31,250 | +€2,692 | +9.4% |
| Remuneration, social security and pensions | 62 | €315,086 | €395,271 | +€80,185 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,511 | €22,674 | +€6,163 | +37.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,492 | €37,307 | +€27,815 | +293% |
| Other operating charges | 640/8 | €11,574 | €17,519 | +€5,945 | +51.4% |
| Gross operating margin | 9900 | €408,627 | €539,706 | +€131,079 | +32.1% |
| Operating profit (loss) | 9901 | €55,964 | €66,935 | +€10,971 | +19.6% |
| Financial income | 75/76B | €554 | €539 | -€15 | -2.7% |
| Recurring financial income | 75 | €554 | €539 | -€15 | -2.7% |
| Financial charges | 65/66B | €4,185 | €4,590 | +€405 | +9.7% |
| Recurring financial charges | 65 | €4,185 | €4,590 | +€405 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €52,333 | €62,884 | +€10,551 | +20.2% |
| Income taxes | 67/77 | €21,261 | €25,505 | +€4,244 | +20.0% |
| Profit (loss) for the period | 9904 | €31,072 | €37,379 | +€6,307 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,072 | €37,379 | +€6,307 | +20.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.