Exciting West: 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.
Exciting West
Largest movements
- Cash +€43,533
up €43,533 (+562%), from €7,743 to €51,276
- Deferred charges and accrued income -€38,911
down €38,911 (-32.3%), from €120,574 to €81,663
- Receivables within one year +€22,656
up €22,656 (+121%), from €18,712 to €41,368
of which Trade receivables: +€14,027
- Tangible fixed assets +€9,071
new in 2025: €9,071
of which Furniture and vehicles: +€4,943
- Intangible fixed assets +€8,084
new in 2025: €8,084
- Accrued charges and deferred income -€110,858
down €110,858 (-93.1%), from €119,067 to €8,210
- Trade debts +€98,306
up €98,306 (+626%), from €15,715 to €114,020
- Debts after one year +€41,307
new in 2025: €41,307
- Tax, wage and social debts +€11,261
new in 2025: €11,261
- Current portion of long-term debt +€10,891
new in 2025: €10,891
- Gross operating margin +€131,881
up €131,881, from -€14,789 to €117,092
- Staff costs +€99,939
new in 2025: €99,939
- Financial charges +€6,566
up €6,566 (+1,078%), from €609 to €7,175
- Depreciation -€1,699
down €1,699 (-35.9%), from €4,731 to €3,032
- Other operating charges +€1,345
up €1,345 (+167%), from €805 to €2,150
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,265 | €198,239 | +€48,974 | +32.8% |
| Fixed assets | 21/28 | €2,236 | €23,933 | +€21,697 | +970% |
| Intangible fixed assets | 21 | - | €8,084 | +€8,084 | |
| Tangible fixed assets | 22/27 | - | €9,071 | +€9,071 | |
| Land and buildings | 22 | - | €2,727 | +€2,727 | |
| Plant, machinery and equipment | 23 | - | €1,402 | +€1,402 | |
| Furniture and vehicles | 24 | - | €4,943 | +€4,943 | |
| Financial fixed assets | 28 | €2,236 | €6,778 | +€4,542 | +203% |
| Current assets | 29/58 | €147,029 | €174,306 | +€27,278 | +18.6% |
| Amounts receivable within one year | 40/41 | €18,712 | €41,368 | +€22,656 | +121% |
| Trade receivables | 40 | €13,140 | €27,167 | +€14,027 | +107% |
| Other amounts receivable | 41 | €5,572 | €14,201 | +€8,629 | +155% |
| Cash at bank and in hand | 54/58 | €7,743 | €51,276 | +€43,533 | +562% |
| Deferred charges and accrued income | 490/1 | €120,574 | €81,663 | -€38,911 | -32.3% |
| Total equity and liabilities | 10/49 | €149,265 | €198,239 | +€48,974 | +32.8% |
| Equity | 10/15 | €4,062 | €8,551 | +€4,489 | +111% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,938 | -€16,449 | +€4,489 | +21.4% |
| Amounts payable | 17/49 | €145,203 | €189,689 | +€44,486 | +30.6% |
| Amounts payable after more than one year | 17 | - | €41,307 | +€41,307 | |
| Financial debts | 170/4 | - | €41,307 | +€41,307 | |
| Amounts payable within one year | 42/48 | €26,135 | €140,172 | +€114,037 | +436% |
| Current portion of amounts payable after more than one year | 42 | - | €10,891 | +€10,891 | |
| Trade debts | 44 | €15,715 | €114,020 | +€98,306 | +626% |
| Suppliers | 440/4 | €15,715 | €114,020 | +€98,306 | +626% |
| Advances received on contracts in progress | 46 | €10,140 | €4,000 | -€6,140 | -60.6% |
| Taxes, remuneration and social security | 45 | - | €11,261 | +€11,261 | |
| Remuneration and social security | 454/9 | - | €11,261 | +€11,261 | |
| Other amounts payable | 47/48 | €281 | €0 | -€281 | -100% |
| Accrued charges and deferred income | 492/3 | €119,067 | €8,210 | -€110,858 | -93.1% |
| Remuneration, social security and pensions | 62 | - | €99,939 | +€99,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,731 | €3,032 | -€1,699 | -35.9% |
| Other operating charges | 640/8 | €805 | €2,150 | +€1,345 | +167% |
| Gross operating margin | 9900 | -€14,789 | €117,092 | +€131,881 | |
| Operating profit (loss) | 9901 | -€20,325 | €11,971 | +€32,296 | |
| Financial income | 75/76B | €3 | €555 | +€552 | +18,265% |
| Recurring financial income | 75 | €3 | €555 | +€552 | +18,265% |
| Financial charges | 65/66B | €609 | €7,175 | +€6,566 | +1,078% |
| Recurring financial charges | 65 | €609 | €7,175 | +€6,566 | +1,078% |
| Profit (loss) for the period before taxes | 9903 | -€20,931 | €5,351 | +€26,282 | |
| Income taxes | 67/77 | €7 | €862 | +€855 | +12,784% |
| Profit (loss) for the period | 9904 | -€20,938 | €4,489 | +€25,427 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,938 | €4,489 | +€25,427 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.