EXCLUSIVIA: 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.
EXCLUSIVIA
Largest movements
- Tangible fixed assets +€53,152
up €53,152 (+776.2%), from €6,848 to €60,000
- Cash -€39,996
down €39,996 (-39.6%), from €101,076 to €61,081
mainly Net result for the year (-€211,180) and Investment in fixed assets (net) (-€60,000)
- Receivables within one year +€13,060
up €13,060 (+84.8%), from €15,399 to €28,459
of which Other amounts receivable: +€14,629
- Accrued charges and deferred income +€250,000
up €250,000, from €0 to €250,000
- Profit (loss) carried forward -€211,180
down €211,180 (-2361.5%), from -€8,943 to -€220,123
- Debts after one year +€53,221
new in 2025: €53,221
- Other debts -€51,513
down €51,513 (-100.0%), from €51,513 to €0
- Trade debts -€13,301
down €13,301 (-75.3%), from €17,662 to €4,361
- Gross operating margin -€278,662
down €278,662, from €123,649 to -€155,012
- Other operating charges +€23,538
up €23,538 (+100.6%), from €23,395 to €46,932
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 | €123,324 | €150,550 | +€27,227 | +22.1% |
| Fixed assets | 21/28 | €6,848 | €60,000 | +€53,152 | +776.2% |
| Tangible fixed assets | 22/27 | €6,848 | €60,000 | +€53,152 | +776.2% |
| Assets under construction and advance payments | 27 | €6,848 | €60,000 | +€53,152 | +776.2% |
| Current assets | 29/58 | €116,476 | €90,550 | -€25,925 | -22.3% |
| Amounts receivable within one year | 40/41 | €15,399 | €28,459 | +€13,060 | +84.8% |
| Trade receivables | 40 | €1,569 | €0 | -€1,569 | -100.0% |
| Other amounts receivable | 41 | €13,831 | €28,459 | +€14,629 | +105.8% |
| Cash at bank and in hand | 54/58 | €101,076 | €61,081 | -€39,996 | -39.6% |
| Deferred charges and accrued income | 490/1 | €0 | €1,010 | +€1,010 | |
| Total equity and liabilities | 10/49 | €123,324 | €150,550 | +€27,227 | +22.1% |
| Equity | 10/15 | €54,149 | -€157,031 | -€211,180 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €44,500 | €44,500 | = | 0.0% |
| Distributable reserves | 133 | €44,500 | €44,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,943 | -€220,123 | -€211,180 | -2361.5% |
| Amounts payable | 17/49 | €69,175 | €307,582 | +€238,407 | +344.6% |
| Amounts payable after more than one year | 17 | - | €53,221 | +€53,221 | |
| Financial debts | 170/4 | - | €53,221 | +€53,221 | |
| Amounts payable within one year | 42/48 | €69,175 | €4,361 | -€64,814 | -93.7% |
| Trade debts | 44 | €17,662 | €4,361 | -€13,301 | -75.3% |
| Suppliers | 440/4 | €17,662 | €4,361 | -€13,301 | -75.3% |
| Other amounts payable | 47/48 | €51,513 | €0 | -€51,513 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €250,000 | +€250,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,846 | €6,848 | +€2 | 0.0% |
| Other operating charges | 640/8 | €23,395 | €46,932 | +€23,538 | +100.6% |
| Non-recurring operating charges | 66A | €67,893 | €0 | -€67,893 | -100.0% |
| Gross operating margin | 9900 | €123,649 | -€155,012 | -€278,662 | |
| Operating profit (loss) | 9901 | €25,516 | -€208,792 | -€234,308 | |
| Financial charges | 65/66B | €2,079 | €2,388 | +€309 | +14.9% |
| Recurring financial charges | 65 | €2,079 | €2,388 | +€309 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €23,438 | -€211,180 | -€234,618 | |
| Profit (loss) for the period | 9904 | €23,438 | -€211,180 | -€234,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,438 | -€211,180 | -€234,618 |
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 12 October 2026 via checked.be.