Excelsius Finance: 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.
Excelsius Finance
Largest movements
- Cash +€37,891
up €37,891 (+24.9%), from €151,956 to €189,847
mainly Net result for the year (+€40,709) and Current investments (+€24,522)
- Current investments -€24,522
down €24,522 (-19.6%), from €125,000 to €100,478
- Reserves +€23,000
up €23,000 (+9.2%), from €251,000 to €274,000
- Tax, wage and social debts -€6,867
down €6,867 (-39.7%), from €17,291 to €10,425
- Gross operating margin -€34,679
down €34,679 (-38.5%), from €90,070 to €55,391
- Taxes -€8,316
down €8,316 (-34.6%), from €24,057 to €15,742
- Financial income +€3,866
up €3,866 (+623%), from €620 to €4,486
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 | €299,736 | €315,186 | +€15,450 | +5.2% |
| Fixed assets | 21/28 | €1,439 | €4,387 | +€2,948 | +205% |
| Tangible fixed assets | 22/27 | €1,439 | €4,387 | +€2,948 | +205% |
| Furniture and vehicles | 24 | €1,162 | €4,387 | +€3,225 | +277% |
| Other tangible fixed assets | 26 | €277 | - | -€277 | |
| Current assets | 29/58 | €298,297 | €310,799 | +€12,501 | +4.2% |
| Amounts receivable within one year | 40/41 | €20,236 | €19,048 | -€1,188 | -5.9% |
| Trade receivables | 40 | €16,492 | €13,524 | -€2,968 | -18.0% |
| Other amounts receivable | 41 | €3,744 | €5,524 | +€1,780 | +47.5% |
| Current investments | 50/53 | €125,000 | €100,478 | -€24,522 | -19.6% |
| Cash at bank and in hand | 54/58 | €151,956 | €189,847 | +€37,891 | +24.9% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,426 | +€321 | +29.0% |
| Total equity and liabilities | 10/49 | €299,736 | €315,186 | +€15,450 | +5.2% |
| Equity | 10/15 | €279,352 | €303,061 | +€23,709 | +8.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €251,000 | €274,000 | +€23,000 | +9.2% |
| Distributable reserves | 133 | €251,000 | €274,000 | +€23,000 | +9.2% |
| Profit (loss) carried forward | 14 | €7,892 | €8,601 | +€709 | +9.0% |
| Amounts payable | 17/49 | €20,384 | €12,125 | -€8,260 | -40.5% |
| Amounts payable within one year | 42/48 | €20,384 | €12,125 | -€8,260 | -40.5% |
| Trade debts | 44 | €3,093 | €1,700 | -€1,393 | -45.0% |
| Suppliers | 440/4 | €3,093 | €1,700 | -€1,393 | -45.0% |
| Taxes, remuneration and social security | 45 | €17,291 | €10,425 | -€6,867 | -39.7% |
| Taxes | 450/3 | €17,291 | €10,425 | -€6,867 | -39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,989 | €1,254 | -€735 | -36.9% |
| Other operating charges | 640/8 | €643 | €712 | +€69 | +10.7% |
| Gross operating margin | 9900 | €90,070 | €55,391 | -€34,679 | -38.5% |
| Operating profit (loss) | 9901 | €87,438 | €53,425 | -€34,013 | -38.9% |
| Financial income | 75/76B | €620 | €4,486 | +€3,866 | +623% |
| Recurring financial income | 75 | €620 | €4,486 | +€3,866 | +623% |
| Financial charges | 65/66B | €1,742 | €1,460 | -€282 | -16.2% |
| Recurring financial charges | 65 | €1,742 | €1,460 | -€282 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €86,316 | €56,451 | -€29,865 | -34.6% |
| Income taxes | 67/77 | €24,057 | €15,742 | -€8,316 | -34.6% |
| Profit (loss) for the period | 9904 | €62,259 | €40,709 | -€21,550 | -34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,259 | €40,709 | -€21,550 | -34.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.