EXCOFIS: 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.
EXCOFIS
Largest movements
- Cash +€136,988
up €136,988 (+95.6%), from €143,241 to €280,229
mainly Trade debts (+€190,053) and Depreciation (+€12,535)
- Receivables within one year +€71,962
up €71,962 (+187%), from €38,489 to €110,451
of which Trade receivables: +€46,643
- Tangible fixed assets -€10,137
down €10,137 (-69.7%), from €14,553 to €4,416
of which Furniture and vehicles: -€7,219
- Trade debts +€190,053
up €190,053 (+122%), from €155,288 to €345,341
- Tax, wage and social debts +€5,229
up €5,229 (+42.3%), from €12,367 to €17,596
of which Remuneration and social security: +€5,556
- Staff costs +€52,925
up €52,925 (+39.7%), from €133,282 to €186,207
- Write-downs -€41,990
down €41,990, from €19,664 to -€22,326
- Gross operating margin +€4,725
up €4,725 (+2.6%), from €180,677 to €185,401
- Financial income -€2,931
down €2,931 (-80.5%), from €3,642 to €711
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 | €212,384 | €408,133 | +€195,749 | +92.2% |
| Fixed assets | 21/28 | €22,381 | €9,846 | -€12,535 | -56.0% |
| Intangible fixed assets | 21 | €7,563 | €5,165 | -€2,398 | -31.7% |
| Tangible fixed assets | 22/27 | €14,553 | €4,416 | -€10,137 | -69.7% |
| Land and buildings | 22 | €3,117 | €488 | -€2,629 | -84.3% |
| Plant, machinery and equipment | 23 | €289 | - | -€289 | |
| Furniture and vehicles | 24 | €11,148 | €3,928 | -€7,219 | -64.8% |
| Financial fixed assets | 28 | €265 | €265 | = | 0.0% |
| Current assets | 29/58 | €190,003 | €398,287 | +€208,284 | +110% |
| Amounts receivable within one year | 40/41 | €38,489 | €110,451 | +€71,962 | +187% |
| Trade receivables | 40 | €29,366 | €76,009 | +€46,643 | +159% |
| Other amounts receivable | 41 | €9,123 | €34,443 | +€25,319 | +278% |
| Cash at bank and in hand | 54/58 | €143,241 | €280,229 | +€136,988 | +95.6% |
| Deferred charges and accrued income | 490/1 | €8,273 | €7,607 | -€666 | -8.0% |
| Total equity and liabilities | 10/49 | €212,384 | €408,133 | +€195,749 | +92.2% |
| Equity | 10/15 | €20,729 | €24,796 | +€4,067 | +19.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €729 | €4,796 | +€4,067 | +558% |
| Distributable reserves | 133 | €729 | €4,796 | +€4,067 | +558% |
| Amounts payable | 17/49 | €191,655 | €383,337 | +€191,682 | +100% |
| Amounts payable within one year | 42/48 | €191,655 | €383,337 | +€191,682 | +100% |
| Trade debts | 44 | €155,288 | €345,341 | +€190,053 | +122% |
| Suppliers | 440/4 | €155,288 | €345,341 | +€190,053 | +122% |
| Taxes, remuneration and social security | 45 | €12,367 | €17,596 | +€5,229 | +42.3% |
| Taxes | 450/3 | €327 | - | -€327 | |
| Remuneration and social security | 454/9 | €12,040 | €17,596 | +€5,556 | +46.2% |
| Other amounts payable | 47/48 | €24,000 | €20,400 | -€3,600 | -15.0% |
| Remuneration, social security and pensions | 62 | €133,282 | €186,207 | +€52,925 | +39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,171 | €12,535 | -€1,636 | -11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,664 | -€22,326 | -€41,990 | |
| Other operating charges | 640/8 | €1,491 | €934 | -€556 | -37.3% |
| Gross operating margin | 9900 | €180,677 | €185,401 | +€4,725 | +2.6% |
| Operating profit (loss) | 9901 | €12,069 | €8,050 | -€4,019 | -33.3% |
| Financial income | 75/76B | €3,642 | €711 | -€2,931 | -80.5% |
| Recurring financial income | 75 | €3,642 | €711 | -€2,931 | -80.5% |
| Financial charges | 65/66B | €140 | €207 | +€67 | +48.2% |
| Recurring financial charges | 65 | €140 | €207 | +€67 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €15,571 | €8,554 | -€7,018 | -45.1% |
| Income taxes | 67/77 | €4,854 | €4,487 | -€367 | -7.6% |
| Profit (loss) for the period | 9904 | €10,718 | €4,067 | -€6,651 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,718 | €4,067 | -€6,651 | -62.1% |
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 14 October 2026 via checked.be.