EXELIO: 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.
What changed
EXELIO
NACE 42.212, Civil engineering
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€280,555
2024 · €141,114+€139,441
Equity
€1.5m
2024 · €1.3m+€272,582
Cash
€797,638
2024 · €150,466+€647,172
Balance sheet total
€5.7m
2024 · €6.0m-€327,655
Largest movements
Assets
- Receivables within one year -€704,789
down €704,789 (-20.2%), from €3.5m to €2.8m
of which Trade receivables: -€641,956
- Cash +€647,172
up €647,172 (+430.1%), from €150,466 to €797,638
mainly Receivables within one year (+€704,789) and Advances received (+€613,137)
- Tangible fixed assets -€278,804
down €278,804 (-13.2%), from €2.1m to €1.8m
of which Furniture and vehicles: -€164,629
Equity and liabilities
- Short-term financial debts -€1.0m
down €1.0m (-78.9%), from €1.3m to €279,911
- Advances received +€613,137
up €613,137 (+274.5%), from €223,400 to €836,537
- Profit (loss) carried forward +€280,555
up €280,555 (+58.4%), from €480,144 to €760,699
- Debts after one year -€231,912
down €231,912 (-28.8%), from €804,959 to €573,047
of which Financial debts: -€216,500
- Accrued charges and deferred income +€83,471
up €83,471 (+303.2%), from €27,526 to €110,997
Income statement
- Gross operating margin +€246,409
up €246,409 (+6.5%), from €3.8m to €4.0m
- Staff costs +€76,668
up €76,668 (+2.5%), from €3.1m to €3.1m
- Taxes +€45,243
up €45,243 (+71.6%), from €63,207 to €108,450
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.
Result 2024
€141,114
Gross operating margin
+€246,409
Staff costs
-€76,668
Depreciation
-€6,495
Write-downs
-€5,987
Provisions
+€5,441
Other operating charges
+€2,848
Financial income
-€451
Financial charges
+€19,587
Taxes
-€45,243
Result 2025
€280,555
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.
From operations
+€2.1m
Investment
-€74,985
Financing
-€1.4m
Cash 2024
€150,466
From operations (derived)
+€2.1m
Net result for the year
+€280,555
Depreciation
+€363,459
Stocks and contracts
-€12,217
Receivables within one year
+€704,789
Deferred charges and accrued income
-€6,218
Provisions
+€10,332
Trade debts
-€11,590
Tax, wage and social debts
+€76,426
Advances received
+€613,137
Other debts
-€21,372
Accrued charges and deferred income
+€83,471
Investment (derived)
-€74,985
Investment in fixed assets (net)
-€74,985
Financing
-€1.4m
Debts after one year
-€231,912
Current portion of long-term debt
-€73,470
Short-term financial debts
-€1.0m
Contributions, distributions and other
-€7,974
Cash 2025
€797,638
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,043,971 | €5,716,316 | -€327,655 | -5.4% |
| Fixed assets | 21/28 | €2,188,965 | €1,900,491 | -€288,474 | -13.2% |
| Intangible fixed assets | 21 | €17,336 | €7,665 | -€9,670 | -55.8% |
| Tangible fixed assets | 22/27 | €2,105,855 | €1,827,051 | -€278,804 | -13.2% |
| Land and buildings | 22 | €1,071,718 | €1,000,393 | -€71,324 | -6.7% |
| Plant, machinery and equipment | 23 | €413,460 | €370,610 | -€42,851 | -10.4% |
| Furniture and vehicles | 24 | €620,677 | €456,048 | -€164,629 | -26.5% |
| Financial fixed assets | 28 | €65,774 | €65,774 | = | 0.0% |
| Current assets | 29/58 | €3,855,006 | €3,815,825 | -€39,181 | -1.0% |
| Stocks and contracts in progress | 3 | €162,749 | €174,966 | +€12,217 | +7.5% |
| Stocks | 30/36 | €162,749 | €174,966 | +€12,217 | +7.5% |
| Amounts receivable within one year | 40/41 | €3,485,726 | €2,780,937 | -€704,789 | -20.2% |
| Trade receivables | 40 | €3,290,213 | €2,648,257 | -€641,956 | -19.5% |
| Other amounts receivable | 41 | €195,513 | €132,680 | -€62,833 | -32.1% |
| Cash at bank and in hand | 54/58 | €150,466 | €797,638 | +€647,172 | +430.1% |
| Deferred charges and accrued income | 490/1 | €56,065 | €62,283 | +€6,218 | +11.1% |
| Total equity and liabilities | 10/49 | €6,043,971 | €5,716,316 | -€327,655 | -5.4% |
| Equity | 10/15 | €1,251,187 | €1,523,769 | +€272,582 | +21.8% |
| Contributions | 10/11 | €322,500 | €322,500 | = | 0.0% |
| Capital | 10 | €322,500 | €322,500 | = | 0.0% |
| Issued capital | 100 | €322,500 | €322,500 | = | 0.0% |
| Reserves | 13 | €352,250 | €352,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €352,250 | €352,250 | = | 0.0% |
| Legal reserve | 130 | €32,250 | €32,250 | = | 0.0% |
| Other | 1319 | €320,000 | €320,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €480,144 | €760,699 | +€280,555 | +58.4% |
| Investment grants | 15 | €96,293 | €88,320 | -€7,974 | -8.3% |
| Provisions and deferred taxes | 16 | €106,949 | €117,281 | +€10,332 | +9.7% |
| Provisions for liabilities and charges | 160/5 | €106,949 | €117,281 | +€10,332 | +9.7% |
| Environmental obligations | 163 | €106,949 | €117,281 | +€10,332 | +9.7% |
| Amounts payable | 17/49 | €4,685,835 | €4,075,266 | -€610,569 | -13.0% |
| Amounts payable after more than one year | 17 | €804,959 | €573,047 | -€231,912 | -28.8% |
| Financial debts | 170/4 | €636,300 | €419,801 | -€216,500 | -34.0% |
| Other amounts payable | 178/9 | €168,658 | €153,246 | -€15,413 | -9.1% |
| Amounts payable within one year | 42/48 | €3,853,350 | €3,391,223 | -€462,127 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €328,178 | €254,708 | -€73,470 | -22.4% |
| Financial debts | 43 | €1,325,170 | €279,911 | -€1.0m | -78.9% |
| Credit institutions | 430/8 | €1,325,170 | €279,911 | -€1.0m | -78.9% |
| Trade debts | 44 | €1,459,967 | €1,448,377 | -€11,590 | -0.8% |
| Suppliers | 440/4 | €1,459,967 | €1,448,377 | -€11,590 | -0.8% |
| Advances received on contracts in progress | 46 | €223,400 | €836,537 | +€613,137 | +274.5% |
| Taxes, remuneration and social security | 45 | €368,458 | €444,884 | +€76,426 | +20.7% |
| Taxes | 450/3 | €29,990 | €50,623 | +€20,633 | +68.8% |
| Remuneration and social security | 454/9 | €338,468 | €394,261 | +€55,793 | +16.5% |
| Other amounts payable | 47/48 | €148,177 | €126,806 | -€21,372 | -14.4% |
| Accrued charges and deferred income | 492/3 | €27,526 | €110,997 | +€83,471 | +303.2% |
| Remuneration, social security and pensions | 62 | €3,065,774 | €3,142,443 | +€76,668 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356,964 | €363,459 | +€6,495 | +1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,704 | €27,691 | +€5,987 | +27.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €15,773 | €10,332 | -€5,441 | -34.5% |
| Other operating charges | 640/8 | €29,068 | €26,220 | -€2,848 | -9.8% |
| Gross operating margin | 9900 | €3,763,857 | €4,010,266 | +€246,409 | +6.5% |
| Operating profit (loss) | 9901 | €274,573 | €440,121 | +€165,548 | +60.3% |
| Financial income | 75/76B | €10,263 | €9,812 | -€451 | -4.4% |
| Recurring financial income | 75 | €10,263 | €9,812 | -€451 | -4.4% |
| Financial charges | 65/66B | €80,515 | €60,928 | -€19,587 | -24.3% |
| Recurring financial charges | 65 | €80,515 | €60,928 | -€19,587 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €204,321 | €389,006 | +€184,685 | +90.4% |
| Income taxes | 67/77 | €63,207 | €108,450 | +€45,243 | +71.6% |
| Profit (loss) for the period | 9904 | €141,114 | €280,555 | +€139,441 | +98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €141,114 | €280,555 | +€139,441 | +98.8% |
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 10 October 2026 via checked.be.