EXECUTIVES UNITED: 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.
EXECUTIVES UNITED
Largest movements
- Receivables within one year -€55,938
down €55,938 (-93.2%), from €60,009 to €4,071
of which Other amounts receivable: -€41,409
- Cash +€13,304
up €13,304 (+271.2%), from €4,905 to €18,209
mainly Receivables within one year (+€55,938) and Depreciation (+€11,222)
- Tangible fixed assets -€6,967
down €6,967 (-17.5%), from €39,758 to €32,791
of which Furniture and vehicles: -€8,536
- Trade debts -€27,258
down €27,258 (-51.3%), from €53,165 to €25,907
- Tax, wage and social debts -€16,526
down €16,526 (-69.1%), from €23,918 to €7,392
- Debts after one year -€9,416
down €9,416 (-39.8%), from €23,664 to €14,248
- Financial income -€78,366
down €78,366 (-97.3%), from €80,528 to €2,162
of which Non-recurring financial income: -€78,349
- Financial charges -€45,881
down €45,881 (-96.0%), from €47,811 to €1,930
of which Non-recurring financial charges: -€45,855
- Gross operating margin -€41,814
down €41,814 (-71.9%), from €58,171 to €16,357
- Taxes -€20,828
down €20,828 (-87.5%), from €23,803 to €2,975
- Other operating charges -€6,484
down €6,484 (-67.0%), from €9,671 to €3,187
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 | €259,211 | €205,768 | -€53,443 | -20.6% |
| Fixed assets | 21/28 | €44,635 | €36,103 | -€8,532 | -19.1% |
| Intangible fixed assets | 21 | €4,623 | €3,058 | -€1,565 | -33.9% |
| Tangible fixed assets | 22/27 | €39,758 | €32,791 | -€6,967 | -17.5% |
| Plant, machinery and equipment | 23 | €2,480 | €4,049 | +€1,569 | +63.3% |
| Furniture and vehicles | 24 | €37,278 | €28,742 | -€8,536 | -22.9% |
| Financial fixed assets | 28 | €254 | €254 | = | 0.0% |
| Current assets | 29/58 | €214,576 | €169,665 | -€44,911 | -20.9% |
| Amounts receivable after more than one year | 29 | €146,222 | €145,307 | -€915 | -0.6% |
| Other amounts receivable | 291 | €146,222 | €145,307 | -€915 | -0.6% |
| Amounts receivable within one year | 40/41 | €60,009 | €4,071 | -€55,938 | -93.2% |
| Trade receivables | 40 | €17,449 | €2,920 | -€14,529 | -83.3% |
| Other amounts receivable | 41 | €42,560 | €1,151 | -€41,409 | -97.3% |
| Cash at bank and in hand | 54/58 | €4,905 | €18,209 | +€13,304 | +271.2% |
| Deferred charges and accrued income | 490/1 | €3,440 | €2,078 | -€1,362 | -39.6% |
| Total equity and liabilities | 10/49 | €259,211 | €205,768 | -€53,443 | -20.6% |
| Equity | 10/15 | €149,549 | €148,755 | -€794 | -0.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €147,549 | €147,550 | +€1 | 0.0% |
| Distributable reserves | 133 | €147,549 | €147,550 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | - | -€795 | -€795 | |
| Amounts payable | 17/49 | €109,662 | €57,013 | -€52,649 | -48.0% |
| Amounts payable after more than one year | 17 | €23,664 | €14,248 | -€9,416 | -39.8% |
| Financial debts | 170/4 | €23,664 | €14,248 | -€9,416 | -39.8% |
| Amounts payable within one year | 42/48 | €85,998 | €42,714 | -€43,284 | -50.3% |
| Current portion of amounts payable after more than one year | 42 | €8,915 | €9,415 | +€500 | +5.6% |
| Trade debts | 44 | €53,165 | €25,907 | -€27,258 | -51.3% |
| Suppliers | 440/4 | €53,165 | €25,907 | -€27,258 | -51.3% |
| Taxes, remuneration and social security | 45 | €23,918 | €7,392 | -€16,526 | -69.1% |
| Taxes | 450/3 | €23,918 | €7,392 | -€16,526 | -69.1% |
| Accrued charges and deferred income | 492/3 | - | €51 | +€51 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,667 | €11,222 | +€3,555 | +46.4% |
| Other operating charges | 640/8 | €9,671 | €3,187 | -€6,484 | -67.0% |
| Gross operating margin | 9900 | €58,171 | €16,357 | -€41,814 | -71.9% |
| Operating profit (loss) | 9901 | €40,833 | €1,948 | -€38,885 | -95.2% |
| Financial income | 75/76B | €80,528 | €2,162 | -€78,366 | -97.3% |
| Recurring financial income | 75 | €2,179 | €2,162 | -€17 | -0.8% |
| Non-recurring financial income | 76B | €78,349 | - | -€78,349 | |
| Financial charges | 65/66B | €47,811 | €1,930 | -€45,881 | -96.0% |
| Recurring financial charges | 65 | €1,956 | €1,930 | -€26 | -1.3% |
| Non-recurring financial charges | 66B | €45,855 | - | -€45,855 | |
| Profit (loss) for the period before taxes | 9903 | €73,550 | €2,180 | -€71,370 | -97.0% |
| Income taxes | 67/77 | €23,803 | €2,975 | -€20,828 | -87.5% |
| Profit (loss) for the period | 9904 | €49,747 | -€795 | -€50,542 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,747 | -€795 | -€50,542 |
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 7 October 2026 via checked.be.