EXELMANS GRAPHICS: 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.
EXELMANS GRAPHICS
Largest movements
- Cash +€24,550
up €24,550 (+7.0%), from €350,453 to €375,003
mainly Depreciation (+€23,509) and Net result for the year (+€22,007)
- Tangible fixed assets -€17,611
down €17,611 (-19.0%), from €92,893 to €75,282
of which Plant, machinery and equipment: -€16,839
- Receivables within one year +€15,447
up €15,447 (+20.3%), from €76,175 to €91,622
- Profit (loss) carried forward +€22,007
up €22,007 (+13.3%), from €165,007 to €187,014
- Tax, wage and social debts +€11,483
up €11,483 (+37.3%), from €30,811 to €42,294
of which Taxes: +€11,086
- Other debts -€9,004
down €9,004 (-30.5%), from €29,568 to €20,563
- Gross operating margin +€4,771
up €4,771 (+3.1%), from €153,783 to €158,554
- Staff costs +€3,361
up €3,361 (+3.3%), from €101,124 to €104,484
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 | €523,693 | €543,685 | +€19,992 | +3.8% |
| Fixed assets | 21/28 | €92,893 | €75,282 | -€17,611 | -19.0% |
| Tangible fixed assets | 22/27 | €92,893 | €75,282 | -€17,611 | -19.0% |
| Land and buildings | 22 | €30,238 | €30,238 | = | 0.0% |
| Plant, machinery and equipment | 23 | €61,362 | €44,523 | -€16,839 | -27.4% |
| Furniture and vehicles | 24 | €1,293 | €521 | -€772 | -59.7% |
| Current assets | 29/58 | €430,800 | €468,403 | +€37,603 | +8.7% |
| Amounts receivable within one year | 40/41 | €76,175 | €91,622 | +€15,447 | +20.3% |
| Trade receivables | 40 | €76,175 | €91,622 | +€15,447 | +20.3% |
| Current investments | 50/53 | €1,055 | €1,055 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €350,453 | €375,003 | +€24,550 | +7.0% |
| Deferred charges and accrued income | 490/1 | €3,116 | €722 | -€2,394 | -76.8% |
| Total equity and liabilities | 10/49 | €523,693 | €543,685 | +€19,992 | +3.8% |
| Equity | 10/15 | €440,330 | €462,337 | +€22,007 | +5.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €269,125 | €269,125 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €267,266 | €267,266 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,007 | €187,014 | +€22,007 | +13.3% |
| Amounts payable | 17/49 | €83,363 | €81,348 | -€2,015 | -2.4% |
| Amounts payable within one year | 42/48 | €82,248 | €80,213 | -€2,034 | -2.5% |
| Trade debts | 44 | €21,869 | €17,356 | -€4,513 | -20.6% |
| Suppliers | 440/4 | €21,869 | €17,356 | -€4,513 | -20.6% |
| Taxes, remuneration and social security | 45 | €30,811 | €42,294 | +€11,483 | +37.3% |
| Taxes | 450/3 | €16,399 | €27,485 | +€11,086 | +67.6% |
| Remuneration and social security | 454/9 | €14,413 | €14,809 | +€397 | +2.8% |
| Other amounts payable | 47/48 | €29,568 | €20,563 | -€9,004 | -30.5% |
| Accrued charges and deferred income | 492/3 | €1,115 | €1,135 | +€20 | +1.8% |
| Remuneration, social security and pensions | 62 | €101,124 | €104,484 | +€3,361 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,232 | €23,509 | +€277 | +1.2% |
| Other operating charges | 640/8 | €2,064 | €2,021 | -€43 | -2.1% |
| Gross operating margin | 9900 | €153,783 | €158,554 | +€4,771 | +3.1% |
| Operating profit (loss) | 9901 | €27,364 | €28,540 | +€1,176 | +4.3% |
| Financial income | 75/76B | €0 | €31 | +€31 | +62,200% |
| Recurring financial income | 75 | €0 | €31 | +€31 | +62,200% |
| Financial charges | 65/66B | €885 | €1,214 | +€329 | +37.1% |
| Recurring financial charges | 65 | €885 | €1,214 | +€329 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €26,479 | €27,357 | +€879 | +3.3% |
| Income taxes | 67/77 | €5,920 | €5,350 | -€569 | -9.6% |
| Profit (loss) for the period | 9904 | €20,559 | €22,007 | +€1,448 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,559 | €22,007 | +€1,448 | +7.0% |
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 16 October 2026 via checked.be.