EXCELSIOR I: 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.
EXCELSIOR I
Largest movements
- Tangible fixed assets +€320,414
up €320,414 (+79.2%), from €404,493 to €724,907
of which Land and buildings: +€181,123
- Receivables after one year +€116,000
new in 2024: €116,000
- Receivables within one year +€77,445
up €77,445 (+50.8%), from €152,432 to €229,877
of which Other amounts receivable: +€82,976
- Cash -€15,475
down €15,475 (-31.7%), from €48,825 to €33,350
mainly Investment in fixed assets (net) (-€404,971) and Net result for the year (-€153,571)
- Current portion of long-term debt +€465,854
new in 2024: €465,854
- Other debts +€279,706
up €279,706 (+111%), from €252,127 to €531,833
- Profit (loss) carried forward -€153,571
down €153,571 (-92.5%), from -€166,070 to -€319,640
- Trade debts -€105,117
down €105,117 (-30.8%), from €341,371 to €236,254
- Debts after one year +€12,769
up €12,769 (+22.4%), from €57,000 to €69,769
- Gross operating margin -€229,742
down €229,742 (-49.6%), from €463,499 to €233,757
- Staff costs -€177,893
down €177,893 (-39.2%), from €454,279 to €276,386
- Depreciation +€22,922
up €22,922 (+37.2%), from €61,635 to €84,557
- Financial charges +€6,796
up €6,796 (+95.4%), from €7,127 to €13,923
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €684,426 | €1,183,248 | +€498,823 | +72.9% |
| Fixed assets | 21/28 | €404,493 | €724,907 | +€320,414 | +79.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €404,493 | €724,907 | +€320,414 | +79.2% |
| Land and buildings | 22 | - | €181,123 | +€181,123 | |
| Plant, machinery and equipment | 23 | €178,916 | €347,027 | +€168,112 | +94.0% |
| Furniture and vehicles | 24 | €62,643 | €54,615 | -€8,028 | -12.8% |
| Other tangible fixed assets | 26 | €162,935 | €142,142 | -€20,793 | -12.8% |
| Current assets | 29/58 | €279,932 | €458,341 | +€178,409 | +63.7% |
| Amounts receivable after more than one year | 29 | - | €116,000 | +€116,000 | |
| Other amounts receivable | 291 | - | €116,000 | +€116,000 | |
| Stocks and contracts in progress | 3 | €77,021 | €77,021 | = | 0.0% |
| Stocks | 30/36 | €77,021 | €77,021 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €152,432 | €229,877 | +€77,445 | +50.8% |
| Trade receivables | 40 | €5,662 | €131 | -€5,531 | -97.7% |
| Other amounts receivable | 41 | €146,770 | €229,746 | +€82,976 | +56.5% |
| Cash at bank and in hand | 54/58 | €48,825 | €33,350 | -€15,475 | -31.7% |
| Deferred charges and accrued income | 490/1 | €1,654 | €2,093 | +€439 | +26.5% |
| Total equity and liabilities | 10/49 | €684,426 | €1,183,248 | +€498,823 | +72.9% |
| Equity | 10/15 | -€22,679 | -€176,249 | -€153,571 | -677% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,791 | €124,791 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €124,791 | €124,791 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,070 | -€319,640 | -€153,571 | -92.5% |
| Amounts payable | 17/49 | €707,104 | €1,359,498 | +€652,394 | +92.3% |
| Amounts payable after more than one year | 17 | €57,000 | €69,769 | +€12,769 | +22.4% |
| Financial debts | 170/4 | €57,000 | €69,769 | +€12,769 | +22.4% |
| Amounts payable within one year | 42/48 | €650,104 | €1,289,729 | +€639,625 | +98.4% |
| Current portion of amounts payable after more than one year | 42 | - | €465,854 | +€465,854 | |
| Financial debts | 43 | €745 | €2,039 | +€1,294 | +174% |
| Credit institutions | 430/8 | €745 | €2,039 | +€1,294 | +174% |
| Trade debts | 44 | €341,371 | €236,254 | -€105,117 | -30.8% |
| Suppliers | 440/4 | €341,371 | €236,254 | -€105,117 | -30.8% |
| Taxes, remuneration and social security | 45 | €55,862 | €53,750 | -€2,112 | -3.8% |
| Taxes | 450/3 | €19,929 | €2,291 | -€17,637 | -88.5% |
| Remuneration and social security | 454/9 | €35,933 | €51,458 | +€15,525 | +43.2% |
| Other amounts payable | 47/48 | €252,127 | €531,833 | +€279,706 | +111% |
| Non-recurring operating income | 76A | - | €50,319 | +€50,319 | |
| Remuneration, social security and pensions | 62 | €454,279 | €276,386 | -€177,893 | -39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,635 | €84,557 | +€22,922 | +37.2% |
| Other operating charges | 640/8 | €9,034 | €12,719 | +€3,684 | +40.8% |
| Gross operating margin | 9900 | €463,499 | €233,757 | -€229,742 | -49.6% |
| Operating profit (loss) | 9901 | -€61,449 | -€139,905 | -€78,456 | -128% |
| Financial income | 75/76B | €341 | €258 | -€83 | -24.5% |
| Recurring financial income | 75 | €341 | €258 | -€83 | -24.5% |
| Financial charges | 65/66B | €7,127 | €13,923 | +€6,796 | +95.4% |
| Recurring financial charges | 65 | €7,127 | €13,923 | +€6,796 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | -€68,235 | -€153,571 | -€85,336 | -125% |
| Income taxes | 67/77 | €519 | €0 | -€519 | -100% |
| Profit (loss) for the period | 9904 | -€68,753 | -€153,571 | -€84,817 | -123% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,753 | -€153,571 | -€84,817 | -123% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.