EXCELLO: 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.
EXCELLO
Largest movements
- Cash +€22,441
up €22,441 (+38.5%), from €58,299 to €80,740
mainly Net result for the year (+€81,433) and Other debts (+€16,094)
- Receivables within one year -€1,631
down €1,631 (-3.2%), from €51,732 to €50,101
of which Other amounts receivable: -€3,883
- Other debts +€16,094
up €16,094 (+20.7%), from €77,765 to €93,858
- Tax, wage and social debts +€3,587
up €3,587 (+25.2%), from €14,239 to €17,826
of which Taxes: +€3,452
- Gross operating margin +€29,687
up €29,687 (+37.9%), from €78,326 to €108,013
- Taxes +€7,120
up €7,120 (+44.2%), from €16,117 to €23,237
- Depreciation -€1,152
down €1,152 (-46.6%), from €2,474 to €1,321
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 | €114,400 | €133,889 | +€19,489 | +17.0% |
| Fixed assets | 21/28 | €4,370 | €3,049 | -€1,321 | -30.2% |
| Tangible fixed assets | 22/27 | €1,970 | €649 | -€1,321 | -67.1% |
| Furniture and vehicles | 24 | €1,970 | €649 | -€1,321 | -67.1% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €110,030 | €130,840 | +€20,810 | +18.9% |
| Amounts receivable within one year | 40/41 | €51,732 | €50,101 | -€1,631 | -3.2% |
| Trade receivables | 40 | €47,848 | €50,101 | +€2,252 | +4.7% |
| Other amounts receivable | 41 | €3,883 | - | -€3,883 | |
| Cash at bank and in hand | 54/58 | €58,299 | €80,740 | +€22,441 | +38.5% |
| Total equity and liabilities | 10/49 | €114,400 | €133,889 | +€19,489 | +17.0% |
| Equity | 10/15 | €18,718 | €18,718 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118 | €118 | = | 0.0% |
| Non-distributable reserves | 130/1 | €118 | €118 | = | 0.0% |
| Reserves not available under the articles | 1311 | €118 | €118 | = | 0.0% |
| Amounts payable | 17/49 | €95,683 | €115,171 | +€19,489 | +20.4% |
| Amounts payable within one year | 42/48 | €95,683 | €115,171 | +€19,489 | +20.4% |
| Trade debts | 44 | €1,501 | €1,308 | -€192 | -12.8% |
| Suppliers | 440/4 | €1,501 | €1,308 | -€192 | -12.8% |
| Advances received on contracts in progress | 46 | €2,178 | €2,178 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €14,239 | €17,826 | +€3,587 | +25.2% |
| Taxes | 450/3 | €14,239 | €17,691 | +€3,452 | +24.2% |
| Remuneration and social security | 454/9 | - | €135 | +€135 | |
| Other amounts payable | 47/48 | €77,765 | €93,858 | +€16,094 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,474 | €1,321 | -€1,152 | -46.6% |
| Other operating charges | 640/8 | €595 | €858 | +€263 | +44.2% |
| Gross operating margin | 9900 | €78,326 | €108,013 | +€29,687 | +37.9% |
| Operating profit (loss) | 9901 | €75,257 | €105,833 | +€30,576 | +40.6% |
| Financial charges | 65/66B | €1,112 | €1,164 | +€51 | +4.6% |
| Recurring financial charges | 65 | €1,112 | €1,164 | +€51 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €74,145 | €104,670 | +€30,525 | +41.2% |
| Income taxes | 67/77 | €16,117 | €23,237 | +€7,120 | +44.2% |
| Profit (loss) for the period | 9904 | €58,028 | €81,433 | +€23,405 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,028 | €81,433 | +€23,405 | +40.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.