EXCEN B & V: what changed
EXCEN B & V
Largest movements
- Receivables within one year +€49,074
up €49,074 (+68.4%), from €71,716 to €120,790
of which Other amounts receivable: +€48,911
- Cash -€38,554
down €38,554 (-26.1%), from €147,968 to €109,414
mainly Investment in fixed assets (net) (-€52,549) and Receivables within one year (-€49,074)
- Tangible fixed assets +€28,187
up €28,187 (+48.7%), from €57,857 to €86,044
of which Furniture and vehicles: +€37,923
- Debts after one year +€37,140
new in 2025: €37,140
- Trade debts -€31,975
down €31,975 (-21.2%), from €150,490 to €118,516
- Current portion of long-term debt +€12,169
new in 2025: €12,169
- Profit (loss) carried forward +€11,888
up €11,888 (+50.1%), from -€23,715 to -€11,827
- Tax, wage and social debts +€9,566
up €9,566 (+18.8%), from €50,926 to €60,492
of which Remuneration and social security: +€7,196
- Gross operating margin +€42,401
up €42,401 (+11.5%), from €368,380 to €410,781
- Staff costs +€35,656
up €35,656 (+12.2%), from €291,301 to €326,958
- Financial charges +€28,026
up €28,026 (+1,286%), from €2,178 to €30,205
- Other operating charges +€13,992
up €13,992 (+235%), from €5,966 to €19,957
- Depreciation +€11,879
up €11,879 (+95.2%), from €12,483 to €24,362
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €359,009 | €399,899 | +€40,890 | +11.4% |
| Fixed assets | 21/28 | €65,489 | €93,676 | +€28,187 | +43.0% |
| Tangible fixed assets | 22/27 | €57,857 | €86,044 | +€28,187 | +48.7% |
| Land and buildings | 22 | €24,525 | €22,154 | -€2,371 | -9.7% |
| Plant, machinery and equipment | 23 | €26,326 | €18,961 | -€7,365 | -28.0% |
| Furniture and vehicles | 24 | €7,006 | €44,929 | +€37,923 | +541% |
| Financial fixed assets | 28 | €7,632 | €7,632 | = | 0.0% |
| Current assets | 29/58 | €293,521 | €306,223 | +€12,702 | +4.3% |
| Stocks and contracts in progress | 3 | €70,243 | €72,075 | +€1,832 | +2.6% |
| Stocks | 30/36 | €70,243 | €72,075 | +€1,832 | +2.6% |
| Amounts receivable within one year | 40/41 | €71,716 | €120,790 | +€49,074 | +68.4% |
| Trade receivables | 40 | €7,664 | €7,827 | +€163 | +2.1% |
| Other amounts receivable | 41 | €64,053 | €112,963 | +€48,911 | +76.4% |
| Cash at bank and in hand | 54/58 | €147,968 | €109,414 | -€38,554 | -26.1% |
| Deferred charges and accrued income | 490/1 | €3,594 | €3,945 | +€351 | +9.8% |
| Total equity and liabilities | 10/49 | €359,009 | €399,899 | +€40,890 | +11.4% |
| Equity | 10/15 | €112,137 | €124,025 | +€11,888 | +10.6% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Contributions outside capital | 11 | €6,600 | €6,600 | = | 0.0% |
| Other | 1109/19 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €129,251 | €129,251 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,500 | €47,500 | = | 0.0% |
| Distributable reserves | 133 | €81,751 | €81,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,715 | -€11,827 | +€11,888 | +50.1% |
| Amounts payable | 17/49 | €246,873 | €275,875 | +€29,002 | +11.7% |
| Amounts payable after more than one year | 17 | - | €37,140 | +€37,140 | |
| Financial debts | 170/4 | - | €37,140 | +€37,140 | |
| Amounts payable within one year | 42/48 | €246,873 | €238,734 | -€8,139 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | - | €12,169 | +€12,169 | |
| Trade debts | 44 | €150,490 | €118,516 | -€31,975 | -21.2% |
| Suppliers | 440/4 | €150,490 | €118,516 | -€31,975 | -21.2% |
| Taxes, remuneration and social security | 45 | €50,926 | €60,492 | +€9,566 | +18.8% |
| Taxes | 450/3 | €4,112 | €6,482 | +€2,370 | +57.6% |
| Remuneration and social security | 454/9 | €46,814 | €54,010 | +€7,196 | +15.4% |
| Other amounts payable | 47/48 | €45,456 | €47,558 | +€2,101 | +4.6% |
| Remuneration, social security and pensions | 62 | €291,301 | €326,958 | +€35,656 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,483 | €24,362 | +€11,879 | +95.2% |
| Other operating charges | 640/8 | €5,966 | €19,957 | +€13,992 | +235% |
| Gross operating margin | 9900 | €368,380 | €410,781 | +€42,401 | +11.5% |
| Operating profit (loss) | 9901 | €58,630 | €39,505 | -€19,126 | -32.6% |
| Financial income | 75/76B | €2,223 | €2,719 | +€496 | +22.3% |
| Recurring financial income | 75 | €2,223 | €2,719 | +€496 | +22.3% |
| Financial charges | 65/66B | €2,178 | €30,205 | +€28,026 | +1,286% |
| Recurring financial charges | 65 | €2,178 | €30,205 | +€28,026 | +1,286% |
| Profit (loss) for the period before taxes | 9903 | €58,675 | €12,019 | -€46,656 | -79.5% |
| Income taxes | 67/77 | - | €131 | +€131 | |
| Profit (loss) for the period | 9904 | €58,675 | €11,888 | -€46,787 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,675 | €11,888 | -€46,787 | -79.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.