EXCELSIOR PROJECTS: what changed
Two fiscal 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
- Stocks and contracts +€305,244
up €305,244 (+31.0%), from €983,136 to €1.3m
- Cash +€132,992
up €132,992 (+701.1%), from €18,970 to €151,962
mainly Other debts (+€600,000) and Depreciation (+€6,000)
- Receivables within one year +€19,835
up €19,835 (+56.4%), from €35,181 to €55,016
of which Trade receivables: +€36,497
- Other debts +€600,000
up €600,000 (+84.0%), from €714,500 to €1.3m
- Trade debts -€150,019
down €150,019 (-64.2%), from €233,561 to €83,542
- Financial income +€2,065
new in 2025: €2,065
- Depreciation +€1,426
up €1,426 (+31.2%), from €4,574 to €6,000
- Financial charges +€686
up €686, from -€313 to €373
- Taxes +€612
up €612 (+25.7%), from €2,383 to €2,995
- Gross operating margin +€587
up €587 (+6.7%), from €8,806 to €9,393
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.
Cash bridge derived
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 | €1,062,713 | €1,514,784 | +€452,071 | +42.5% |
| Fixed assets | 21/28 | €25,426 | €19,426 | -€6,000 | -23.6% |
| Tangible fixed assets | 22/27 | €25,426 | €19,426 | -€6,000 | -23.6% |
| Furniture and vehicles | 24 | €25,426 | €19,426 | -€6,000 | -23.6% |
| Current assets | 29/58 | €1,037,287 | €1,495,358 | +€458,071 | +44.2% |
| Stocks and contracts in progress | 3 | €983,136 | €1,288,380 | +€305,244 | +31.0% |
| Contracts in progress | 37 | €983,136 | €1,288,380 | +€305,244 | +31.0% |
| Amounts receivable within one year | 40/41 | €35,181 | €55,016 | +€19,835 | +56.4% |
| Trade receivables | 40 | €1,029 | €37,526 | +€36,497 | +3546.8% |
| Other amounts receivable | 41 | €34,152 | €17,490 | -€16,662 | -48.8% |
| Cash at bank and in hand | 54/58 | €18,970 | €151,962 | +€132,992 | +701.1% |
| Total equity and liabilities | 10/49 | €1,062,713 | €1,514,784 | +€452,071 | +42.5% |
| Equity | 10/15 | €108,652 | €110,742 | +€2,090 | +1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,652 | €88,742 | +€2,090 | +2.4% |
| Amounts payable | 17/49 | €954,061 | €1,404,042 | +€449,981 | +47.2% |
| Amounts payable within one year | 42/48 | €948,061 | €1,398,042 | +€449,981 | +47.5% |
| Trade debts | 44 | €233,561 | €83,542 | -€150,019 | -64.2% |
| Suppliers | 440/4 | €233,561 | €83,542 | -€150,019 | -64.2% |
| Other amounts payable | 47/48 | €714,500 | €1,314,500 | +€600,000 | +84.0% |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,574 | €6,000 | +€1,426 | +31.2% |
| Gross operating margin | 9900 | €8,806 | €9,393 | +€587 | +6.7% |
| Operating profit (loss) | 9901 | €4,232 | €3,393 | -€839 | -19.8% |
| Financial income | 75/76B | - | €2,065 | +€2,065 | |
| Recurring financial income | 75 | - | €2,065 | +€2,065 | |
| Financial charges | 65/66B | -€313 | €373 | +€686 | |
| Recurring financial charges | 65 | -€313 | €373 | +€686 | |
| Profit (loss) for the period before taxes | 9903 | €4,545 | €5,085 | +€540 | +11.9% |
| Income taxes | 67/77 | €2,383 | €2,995 | +€612 | +25.7% |
| Profit (loss) for the period | 9904 | €2,162 | €2,090 | -€72 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,162 | €2,090 | -€72 | -3.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.