EXCS: 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.
EXCS
Largest movements
- Cash -€12,261
down €12,261 (-51.7%), from €23,708 to €11,446
mainly Other debts (-€13,193) and Contributions, distributions and other (-€9,200)
- Tangible fixed assets -€5,783
down €5,783 (-32.5%), from €17,810 to €12,026
of which Leasing and similar rights: -€5,783
- Receivables within one year -€710
down €710 (-3.6%), from €19,751 to €19,041
of which Other amounts receivable: -€521
- Other debts -€13,193
down €13,193 (-51.9%), from €25,419 to €12,226
- Debts after one year -€6,130
down €6,130 (-48.4%), from €12,652 to €6,522
- Gross operating margin -€11,189
down €11,189 (-35.3%), from €31,670 to €20,481
- Taxes -€2,560
down €2,560 (-39.2%), from €6,537 to €3,976
- Financial charges -€409
down €409 (-21.7%), from €1,884 to €1,475
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 | €63,426 | €44,526 | -€18,900 | -29.8% |
| Fixed assets | 21/28 | €18,178 | €12,434 | -€5,743 | -31.6% |
| Tangible fixed assets | 22/27 | €17,810 | €12,026 | -€5,783 | -32.5% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €17,810 | €12,026 | -€5,783 | -32.5% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €368 | €408 | +€40 | +10.9% |
| Current assets | 29/58 | €45,248 | €32,092 | -€13,156 | -29.1% |
| Amounts receivable within one year | 40/41 | €19,751 | €19,041 | -€710 | -3.6% |
| Trade receivables | 40 | €7,177 | €6,988 | -€190 | -2.6% |
| Other amounts receivable | 41 | €12,574 | €12,053 | -€521 | -4.1% |
| Cash at bank and in hand | 54/58 | €23,708 | €11,446 | -€12,261 | -51.7% |
| Deferred charges and accrued income | 490/1 | €1,790 | €1,605 | -€185 | -10.3% |
| Total equity and liabilities | 10/49 | €63,426 | €44,526 | -€18,900 | -29.8% |
| Equity | 10/15 | €18,409 | €18,426 | +€17 | +0.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €9,951 | €9,951 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,091 | €8,091 | = | 0.0% |
| Profit (loss) carried forward | 14 | €458 | €475 | +€17 | +3.6% |
| Amounts payable | 17/49 | €45,017 | €26,101 | -€18,916 | -42.0% |
| Amounts payable after more than one year | 17 | €12,652 | €6,522 | -€6,130 | -48.4% |
| Financial debts | 170/4 | €12,652 | €6,522 | -€6,130 | -48.4% |
| Amounts payable within one year | 42/48 | €32,365 | €19,579 | -€12,786 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €5,761 | €6,130 | +€369 | +6.4% |
| Trade debts | 44 | €1,185 | €1,223 | +€38 | +3.2% |
| Suppliers | 440/4 | €1,185 | €1,223 | +€38 | +3.2% |
| Other amounts payable | 47/48 | €25,419 | €12,226 | -€13,193 | -51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,783 | €5,783 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €31,670 | €20,481 | -€11,189 | -35.3% |
| Operating profit (loss) | 9901 | €25,768 | €14,578 | -€11,191 | -43.4% |
| Financial income | 75/76B | €89 | €90 | +€0 | +0.5% |
| Recurring financial income | 75 | €89 | €90 | +€0 | +0.5% |
| Financial charges | 65/66B | €1,884 | €1,475 | -€409 | -21.7% |
| Recurring financial charges | 65 | €1,884 | €1,475 | -€409 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €23,974 | €13,193 | -€10,781 | -45.0% |
| Income taxes | 67/77 | €6,537 | €3,976 | -€2,560 | -39.2% |
| Profit (loss) for the period | 9904 | €17,438 | €9,217 | -€8,221 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,438 | €9,217 | -€8,221 | -47.1% |
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 25 October 2026 via checked.be.