EXEKO: 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.
EXEKO
Largest movements
- Tangible fixed assets +€18,469
up €18,469 (+614%), from €3,007 to €21,475
of which Other tangible fixed assets: +€13,870
- Stocks and contracts +€13,518
new in 2025: €13,518
- Receivables within one year +€12,886
up €12,886 (+73.3%), from €17,584 to €30,469
- Current investments +€10,000
new in 2025: €10,000
- Cash +€8,808
up €8,808 (+8.1%), from €108,700 to €117,508
mainly Trade debts (+€20,456) and Net result for the year (+€17,922)
- Trade debts +€20,456
up €20,456 (+421%), from €4,856 to €25,312
- Reserves +€17,922
up €17,922 (+14.2%), from €126,440 to €144,362
- Accrued charges and deferred income +€12,943
new in 2025: €12,943
- Tax, wage and social debts +€12,758
up €12,758 (+62.9%), from €20,283 to €33,041
of which Taxes: +€12,758
- Short-term financial debts +€2,393
new in 2025: €2,393
- Turnover +€94,725
up €94,725 (+17.8%), from €531,820 to €626,545
- Purchases and services +€72,289
up €72,289 (+13.6%), from €533,456 to €605,744
- Gross operating margin +€22,374
up €22,374 (+151%), from €14,823 to €37,197
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 | €163,746 | €229,117 | +€65,371 | +39.9% |
| Fixed assets | 21/28 | €5,007 | €23,475 | +€18,469 | +369% |
| Tangible fixed assets | 22/27 | €3,007 | €21,475 | +€18,469 | +614% |
| Furniture and vehicles | 24 | €3,007 | €7,605 | +€4,599 | +153% |
| Other tangible fixed assets | 26 | - | €13,870 | +€13,870 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €158,739 | €205,641 | +€46,902 | +29.5% |
| Amounts receivable after more than one year | 29 | €29,900 | €28,630 | -€1,270 | -4.2% |
| Other amounts receivable | 291 | €29,900 | €28,630 | -€1,270 | -4.2% |
| Stocks and contracts in progress | 3 | - | €13,518 | +€13,518 | |
| Stocks | 30/36 | - | €13,518 | +€13,518 | |
| Amounts receivable within one year | 40/41 | €17,584 | €30,469 | +€12,886 | +73.3% |
| Trade receivables | 40 | €17,584 | €30,469 | +€12,886 | +73.3% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €108,700 | €117,508 | +€8,808 | +8.1% |
| Deferred charges and accrued income | 490/1 | €2,556 | €5,517 | +€2,961 | +116% |
| Total equity and liabilities | 10/49 | €163,746 | €229,117 | +€65,371 | +39.9% |
| Equity | 10/15 | €129,043 | €146,965 | +€17,922 | +13.9% |
| Reserves | 13 | €126,440 | €144,362 | +€17,922 | +14.2% |
| Distributable reserves | 133 | €126,440 | €144,362 | +€17,922 | +14.2% |
| Profit (loss) carried forward | 14 | €2,603 | €2,603 | = | 0.0% |
| Amounts payable | 17/49 | €34,703 | €82,152 | +€47,449 | +137% |
| Amounts payable within one year | 42/48 | €34,703 | €69,209 | +€34,506 | +99.4% |
| Financial debts | 43 | - | €2,393 | +€2,393 | |
| Credit institutions | 430/8 | - | €2,393 | +€2,393 | |
| Trade debts | 44 | €4,856 | €25,312 | +€20,456 | +421% |
| Suppliers | 440/4 | €4,856 | €25,312 | +€20,456 | +421% |
| Taxes, remuneration and social security | 45 | €20,283 | €33,041 | +€12,758 | +62.9% |
| Taxes | 450/3 | €19,996 | €32,754 | +€12,758 | +63.8% |
| Remuneration and social security | 454/9 | €287 | €287 | = | 0.0% |
| Other amounts payable | 47/48 | €9,564 | €8,463 | -€1,100 | -11.5% |
| Accrued charges and deferred income | 492/3 | - | €12,943 | +€12,943 | |
| Turnover | 70 | €531,820 | €626,545 | +€94,725 | +17.8% |
| Non-recurring operating income | 76A | - | €2,663 | +€2,663 | |
| Goods, raw materials, services and sundry goods | 60/61 | €533,456 | €605,744 | +€72,289 | +13.6% |
| Remuneration, social security and pensions | 62 | €5,325 | - | -€5,325 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,056 | €3,761 | -€1,295 | -25.6% |
| Other operating charges | 640/8 | €4,392 | €2,377 | -€2,015 | -45.9% |
| Gross operating margin | 9900 | €14,823 | €37,197 | +€22,374 | +151% |
| Operating profit (loss) | 9901 | €49 | €31,058 | +€31,009 | +63,143% |
| Financial income | 75/76B | €1,023 | €1,095 | +€72 | +7.0% |
| Recurring financial income | 75 | €1,023 | €1,095 | +€72 | +7.0% |
| Financial charges | 65/66B | €875 | €1,197 | +€321 | +36.7% |
| Recurring financial charges | 65 | €875 | €1,197 | +€321 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €196 | €30,956 | +€30,760 | +15,663% |
| Income taxes | 67/77 | €10,383 | €13,034 | +€2,652 | +25.5% |
| Profit (loss) for the period | 9904 | -€10,186 | €17,922 | +€28,108 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,186 | €17,922 | +€28,108 |
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 17 October 2026 via checked.be.