Excelsior Projects: 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 Projects
Largest movements
- Cash +€50,817
up €50,817 (+266.5%), from €19,071 to €69,888
mainly Depreciation (+€40,154) and Stocks and contracts (+€20,987)
- Tangible fixed assets -€26,547
down €26,547 (-4.1%), from €655,413 to €628,866
of which Other tangible fixed assets: -€19,492
- Stocks and contracts -€20,987
no longer reported in 2024 (was €20,987)
- Debts after one year -€32,739
down €32,739 (-7.2%), from €454,760 to €422,020
- Trade debts +€16,758
up €16,758 (+17.1%), from €98,244 to €115,002
- Profit (loss) carried forward +€13,724
up €13,724 (+12.2%), from €112,925 to €126,649
- Turnover -€963,742
down €963,742 (-54.0%), from €1.8m to €821,676
- Purchases and services -€879,810
down €879,810 (-56.0%), from €1.6m to €691,583
- Gross operating margin -€83,933
down €83,933 (-39.2%), from €214,026 to €130,093
- Staff costs -€61,596
down €61,596 (-69.7%), from €88,348 to €26,752
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.
Cash bridge derived
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 | €952,991 | €952,225 | -€766 | -0.1% |
| Fixed assets | 21/28 | €660,251 | €633,749 | -€26,502 | -4.0% |
| Tangible fixed assets | 22/27 | €655,413 | €628,866 | -€26,547 | -4.1% |
| Land and buildings | 22 | €513,636 | €496,515 | -€17,121 | -3.3% |
| Plant, machinery and equipment | 23 | €3,564 | - | -€3,564 | |
| Furniture and vehicles | 24 | - | €13,631 | +€13,631 | |
| Other tangible fixed assets | 26 | €138,213 | €118,720 | -€19,492 | -14.1% |
| Financial fixed assets | 28 | €4,838 | €4,882 | +€45 | +0.9% |
| Current assets | 29/58 | €292,740 | €318,476 | +€25,736 | +8.8% |
| Stocks and contracts in progress | 3 | €20,987 | - | -€20,987 | |
| Contracts in progress | 37 | €20,987 | - | -€20,987 | |
| Amounts receivable within one year | 40/41 | €252,683 | €248,588 | -€4,094 | -1.6% |
| Trade receivables | 40 | €226,158 | €207,591 | -€18,566 | -8.2% |
| Other amounts receivable | 41 | €26,525 | €40,997 | +€14,472 | +54.6% |
| Cash at bank and in hand | 54/58 | €19,071 | €69,888 | +€50,817 | +266.5% |
| Total equity and liabilities | 10/49 | €952,991 | €952,225 | -€766 | -0.1% |
| Equity | 10/15 | €351,367 | €365,091 | +€13,724 | +3.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €232,242 | €232,242 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €230,382 | €230,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,925 | €126,649 | +€13,724 | +12.2% |
| Amounts payable | 17/49 | €601,624 | €587,134 | -€14,490 | -2.4% |
| Amounts payable after more than one year | 17 | €454,760 | €422,020 | -€32,739 | -7.2% |
| Financial debts | 170/4 | €454,760 | €422,020 | -€32,739 | -7.2% |
| Amounts payable within one year | 42/48 | €146,865 | €165,113 | +€18,249 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €32,162 | €32,709 | +€547 | +1.7% |
| Trade debts | 44 | €98,244 | €115,002 | +€16,758 | +17.1% |
| Suppliers | 440/4 | €98,244 | €115,002 | +€16,758 | +17.1% |
| Advances received on contracts in progress | 46 | €16,458 | €16,458 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €944 | +€944 | |
| Taxes | 450/3 | - | €944 | +€944 | |
| Turnover | 70 | €1,785,418 | €821,676 | -€963,742 | -54.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,571,393 | €691,583 | -€879,810 | -56.0% |
| Remuneration, social security and pensions | 62 | €88,348 | €26,752 | -€61,596 | -69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,270 | €40,154 | +€1,884 | +4.9% |
| Other operating charges | 640/8 | €14,384 | €1,132 | -€13,252 | -92.1% |
| Non-recurring operating charges | 66A | - | €7,650 | +€7,650 | |
| Gross operating margin | 9900 | €214,026 | €130,093 | -€83,933 | -39.2% |
| Operating profit (loss) | 9901 | €73,023 | €54,405 | -€18,618 | -25.5% |
| Financial income | 75/76B | €1,823 | €882 | -€942 | -51.6% |
| Recurring financial income | 75 | €1,823 | €882 | -€942 | -51.6% |
| Financial charges | 65/66B | €13,821 | €12,277 | -€1,544 | -11.2% |
| Recurring financial charges | 65 | €13,734 | €12,277 | -€1,457 | -10.6% |
| Non-recurring financial charges | 66B | €87 | - | -€87 | |
| Profit (loss) for the period before taxes | 9903 | €61,026 | €43,010 | -€18,015 | -29.5% |
| Income taxes | 67/77 | €13,289 | €29,286 | +€15,997 | +120.4% |
| Profit (loss) for the period | 9904 | €47,737 | €13,724 | -€34,013 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,737 | €13,724 | -€34,013 | -71.3% |
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 11 October 2026 via checked.be.