EXDEL: what changed
Two fiscal 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.
EXDEL
Largest movements
- Cash +€54,408
up €54,408 (+39.8%), from €136,691 to €191,099
mainly Other debts (+€104,700) and Depreciation (+€31,619)
- Tangible fixed assets -€31,619
down €31,619 (-10.7%), from €295,370 to €263,751
of which Land and buildings: -€22,150
- Receivables within one year +€10,040
up €10,040 (+34.8%), from €28,877 to €38,917
of which Trade receivables: +€14,497
- Other debts +€104,700
up €104,700 (+91.6%), from €114,260 to €218,960
- Profit (loss) carried forward -€101,160
down €101,160 (-53.8%), from €188,182 to €87,022
- Trade debts +€17,881
up €17,881 (+99.2%), from €18,028 to €35,909
- Tax, wage and social debts +€11,545
new in 2025: €11,545
- Gross operating margin -€9,458
down €9,458 (-12.5%), from €75,821 to €66,364
- Depreciation +€4,927
up €4,927 (+18.5%), from €26,692 to €31,619
- Taxes -€4,110
down €4,110 (-24.9%), from €16,533 to €12,422
- Other operating charges +€1,509
up €1,509 (+80.7%), from €1,869 to €3,378
- Financial income -€1,271
down €1,271 (-54.8%), from €2,318 to €1,047
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 | €460,938 | €493,951 | +€33,013 | +7.2% |
| Fixed assets | 21/28 | €295,370 | €263,751 | -€31,619 | -10.7% |
| Tangible fixed assets | 22/27 | €295,370 | €263,751 | -€31,619 | -10.7% |
| Land and buildings | 22 | €271,922 | €249,772 | -€22,150 | -8.1% |
| Furniture and vehicles | 24 | €23,448 | €13,979 | -€9,469 | -40.4% |
| Current assets | 29/58 | €165,568 | €230,200 | +€64,632 | +39.0% |
| Amounts receivable within one year | 40/41 | €28,877 | €38,917 | +€10,040 | +34.8% |
| Trade receivables | 40 | €1,449 | €15,947 | +€14,497 | +1000.3% |
| Other amounts receivable | 41 | €27,428 | €22,971 | -€4,457 | -16.3% |
| Cash at bank and in hand | 54/58 | €136,691 | €191,099 | +€54,408 | +39.8% |
| Deferred charges and accrued income | 490/1 | - | €184 | +€184 | |
| Total equity and liabilities | 10/49 | €460,938 | €493,951 | +€33,013 | +7.2% |
| Equity | 10/15 | €328,642 | €227,482 | -€101,160 | -30.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,860 | €121,860 | = | 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 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,182 | €87,022 | -€101,160 | -53.8% |
| Amounts payable | 17/49 | €132,296 | €266,469 | +€134,173 | +101.4% |
| Amounts payable within one year | 42/48 | €132,288 | €266,414 | +€134,125 | +101.4% |
| Trade debts | 44 | €18,028 | €35,909 | +€17,881 | +99.2% |
| Suppliers | 440/4 | €18,028 | €35,909 | +€17,881 | +99.2% |
| Taxes, remuneration and social security | 45 | - | €11,545 | +€11,545 | |
| Taxes | 450/3 | - | €11,545 | +€11,545 | |
| Other amounts payable | 47/48 | €114,260 | €218,960 | +€104,700 | +91.6% |
| Accrued charges and deferred income | 492/3 | €8 | €55 | +€47 | +592.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,692 | €31,619 | +€4,927 | +18.5% |
| Other operating charges | 640/8 | €1,869 | €3,378 | +€1,509 | +80.7% |
| Gross operating margin | 9900 | €75,821 | €66,364 | -€9,458 | -12.5% |
| Operating profit (loss) | 9901 | €47,261 | €31,367 | -€15,894 | -33.6% |
| Financial income | 75/76B | €2,318 | €1,047 | -€1,271 | -54.8% |
| Recurring financial income | 75 | €2,318 | €1,047 | -€1,271 | -54.8% |
| Financial charges | 65/66B | €852 | €1,151 | +€299 | +35.1% |
| Recurring financial charges | 65 | €852 | €1,151 | +€299 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €48,727 | €31,263 | -€17,464 | -35.8% |
| Income taxes | 67/77 | €16,533 | €12,422 | -€4,110 | -24.9% |
| Profit (loss) for the period | 9904 | €32,194 | €18,840 | -€13,354 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,194 | €18,840 | -€13,354 | -41.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.