EXCELTIS: 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.
EXCELTIS
Largest movements
- Current investments -€17,760
down €17,760 (-15.8%), from €112,728 to €94,968
- Tangible fixed assets -€8,455
down €8,455 (-26.4%), from €32,064 to €23,608
- Deferred charges and accrued income +€4,820
up €4,820 (+349.2%), from €1,380 to €6,201
- Cash -€2,009
down €2,009 (-55.3%), from €3,632 to €1,622
mainly Net result for the year (-€22,792) and Deferred charges and accrued income (-€4,820)
- Profit (loss) carried forward -€24,316
down €24,316 (-17.1%), from €142,100 to €117,784
- Other debts +€2,141
new in 2025: €2,141
- Reserves -€1,860
down €1,860 (-100.0%), from €1,860 to €0
- Financial income +€4,007
up €4,007 (+48.1%), from €8,328 to €12,334
of which Financial income: +€4,007
- Taxes -€3,180
down €3,180, from €1,986 to -€1,194
- Gross operating margin +€3,039
up €3,039 (+10.9%), from -€27,758 to -€24,719
- Financial charges -€705
down €705 (-83.1%), from €849 to €144
of which Financial charges: -€705
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 | €151,741 | €128,088 | -€23,653 | -15.6% |
| Fixed assets | 21/28 | €32,214 | €23,608 | -€8,605 | -26.7% |
| Tangible fixed assets | 22/27 | €32,064 | €23,608 | -€8,455 | -26.4% |
| Furniture and vehicles | 24 | €32,064 | €23,608 | -€8,455 | -26.4% |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100.0% |
| Current assets | 29/58 | €119,528 | €104,480 | -€15,048 | -12.6% |
| Amounts receivable within one year | 40/41 | €1,787 | €1,689 | -€98 | -5.5% |
| Trade receivables | 40 | - | €2 | +€2 | |
| Other amounts receivable | 41 | €1,787 | €1,687 | -€100 | -5.6% |
| Current investments | 50/53 | €112,728 | €94,968 | -€17,760 | -15.8% |
| Cash at bank and in hand | 54/58 | €3,632 | €1,622 | -€2,009 | -55.3% |
| Deferred charges and accrued income | 490/1 | €1,380 | €6,201 | +€4,820 | +349.2% |
| Total equity and liabilities | 10/49 | €151,741 | €128,088 | -€23,653 | -15.6% |
| Equity | 10/15 | €150,160 | €123,984 | -€26,176 | -17.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100.0% |
| Profit (loss) carried forward | 14 | €142,100 | €117,784 | -€24,316 | -17.1% |
| Amounts payable | 17/49 | €1,581 | €4,104 | +€2,523 | +159.5% |
| Amounts payable within one year | 42/48 | €1,581 | €4,104 | +€2,523 | +159.5% |
| Trade debts | 44 | €802 | €1,963 | +€1,161 | +144.8% |
| Suppliers | 440/4 | €802 | €1,963 | +€1,161 | +144.8% |
| Taxes, remuneration and social security | 45 | €780 | €0 | -€780 | -100.0% |
| Taxes | 450/3 | €780 | €0 | -€780 | -100.0% |
| Other amounts payable | 47/48 | - | €2,141 | +€2,141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,973 | €10,003 | +€30 | +0.3% |
| Other operating charges | 640/8 | €1,507 | €1,453 | -€53 | -3.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€27,758 | -€24,719 | +€3,039 | +10.9% |
| Operating profit (loss) | 9901 | -€39,238 | -€36,176 | +€3,062 | +7.8% |
| Financial income | 75/76B | €8,328 | €12,334 | +€4,007 | +48.1% |
| Recurring financial income | 75 | €8,328 | €12,334 | +€4,007 | +48.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €849 | €144 | -€705 | -83.1% |
| Recurring financial charges | 65 | €849 | €144 | -€705 | -83.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€31,758 | -€23,985 | +€7,773 | +24.5% |
| Income taxes | 67/77 | €1,986 | -€1,194 | -€3,180 | |
| Profit (loss) for the period | 9904 | -€33,744 | -€22,792 | +€10,953 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,744 | -€22,792 | +€10,953 | +32.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.