EXEN: what changed
What changed
EXEN
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€15,488
2024 · €3,126+€12,362
Equity
€693,876
2024 · €679,221+€14,655
Cash
€23,518
2024 · €21,313+€2,205
Balance sheet total
€1.0m
2024 · €1.1m-€72,061
Largest movements
Assets
- Receivables within one year -€62,859
down €62,859 (-78.4%), from €80,132 to €17,274
of which Trade receivables: -€49,891
Equity and liabilities
- Trade debts -€60,094
down €60,094 (-98.5%), from €61,018 to €924
- Other debts +€57,795
up €57,795 (+90.9%), from €63,592 to €121,388
- Debts after one year -€50,396
down €50,396 (-23.0%), from €219,585 to €169,189
- Tax, wage and social debts -€17,036
down €17,036 (-54.1%), from €31,488 to €14,452
of which Taxes: -€17,051
- Reserves +€15,488
up €15,488 (+2.4%), from €658,300 to €673,787
of which Distributable reserves: +€15,488
Income statement
- Gross operating margin +€28,410
up €28,410 (+43.1%), from €65,928 to €94,338
- Financial charges +€12,343
up €12,343 (+23.9%), from €51,537 to €63,879
of which Financial charges: +€12,343
- Taxes +€5,365
up €5,365 (+126%), from €4,255 to €9,620
- Depreciation -€2,117
down €2,117 (-31.5%), from €6,722 to €4,604
- Other operating charges +€1,290
up €1,290 (+73.1%), from €1,766 to €3,057
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3,126
Gross operating margin
+€28,410
Depreciation
+€2,117
Other operating charges
-€1,290
Financial income
+€833
Financial charges
-€12,343
Taxes
-€5,365
Result 2025
€15,488
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€69,757
Investment
-€3,223
Financing
-€64,329
Cash 2024
€21,313
From operations (derived)
+€69,757
Net result for the year
+€15,488
Depreciation
+€4,604
Receivables after one year
+€584
Receivables within one year
+€62,859
Deferred charges and accrued income
+€9,443
Trade debts
-€60,094
Tax, wage and social debts
-€17,036
Other debts
+€57,795
Accrued charges and deferred income
-€3,885
Investment (derived)
-€3,223
Investment in fixed assets (net)
-€3,223
Financing
-€64,329
Debts after one year
-€50,396
Current portion of long-term debt
-€13,101
Contributions, distributions and other
-€833
Cash 2025
€23,518
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,107,031 | €1,034,970 | -€72,061 | -6.5% |
| Fixed assets | 21/28 | €984,171 | €982,790 | -€1,381 | -0.1% |
| Tangible fixed assets | 22/27 | €5,251 | €3,870 | -€1,381 | -26.3% |
| Plant, machinery and equipment | 23 | €225 | €0 | -€225 | -100% |
| Furniture and vehicles | 24 | €5,026 | €3,870 | -€1,156 | -23.0% |
| Financial fixed assets | 28 | €978,920 | €978,920 | = | 0.0% |
| Current assets | 29/58 | €122,860 | €52,180 | -€70,680 | -57.5% |
| Amounts receivable after more than one year | 29 | €11,084 | €10,500 | -€584 | -5.3% |
| Other amounts receivable | 291 | €11,084 | €10,500 | -€584 | -5.3% |
| Amounts receivable within one year | 40/41 | €80,132 | €17,274 | -€62,859 | -78.4% |
| Trade receivables | 40 | €66,771 | €16,880 | -€49,891 | -74.7% |
| Other amounts receivable | 41 | €13,362 | €394 | -€12,967 | -97.0% |
| Cash at bank and in hand | 54/58 | €21,313 | €23,518 | +€2,205 | +10.3% |
| Deferred charges and accrued income | 490/1 | €10,332 | €888 | -€9,443 | -91.4% |
| Total equity and liabilities | 10/49 | €1,107,031 | €1,034,970 | -€72,061 | -6.5% |
| Equity | 10/15 | €679,221 | €693,876 | +€14,655 | +2.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €658,300 | €673,787 | +€15,488 | +2.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €577,720 | €577,720 | = | 0.0% |
| Distributable reserves | 133 | €78,721 | €94,208 | +€15,488 | +19.7% |
| Profit (loss) carried forward | 14 | €2,329 | €1,496 | -€833 | -35.8% |
| Amounts payable | 17/49 | €427,810 | €341,094 | -€86,716 | -20.3% |
| Amounts payable after more than one year | 17 | €219,585 | €169,189 | -€50,396 | -23.0% |
| Financial debts | 170/4 | €219,585 | €169,189 | -€50,396 | -23.0% |
| Amounts payable within one year | 42/48 | €204,340 | €171,905 | -€32,435 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €48,242 | €35,141 | -€13,101 | -27.2% |
| Trade debts | 44 | €61,018 | €924 | -€60,094 | -98.5% |
| Suppliers | 440/4 | €61,018 | €924 | -€60,094 | -98.5% |
| Taxes, remuneration and social security | 45 | €31,488 | €14,452 | -€17,036 | -54.1% |
| Taxes | 450/3 | €29,090 | €12,039 | -€17,051 | -58.6% |
| Remuneration and social security | 454/9 | €2,398 | €2,413 | +€15 | +0.6% |
| Other amounts payable | 47/48 | €63,592 | €121,388 | +€57,795 | +90.9% |
| Accrued charges and deferred income | 492/3 | €3,885 | €0 | -€3,885 | -100% |
| Non-recurring operating income | 76A | - | €7,371 | +€7,371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,722 | €4,604 | -€2,117 | -31.5% |
| Other operating charges | 640/8 | €1,766 | €3,057 | +€1,290 | +73.1% |
| Gross operating margin | 9900 | €65,928 | €94,338 | +€28,410 | +43.1% |
| Operating profit (loss) | 9901 | €57,440 | €86,677 | +€29,237 | +50.9% |
| Financial income | 75/76B | €1,478 | €2,310 | +€833 | +56.4% |
| Recurring financial income | 75 | €1,478 | €2,310 | +€833 | +56.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €51,537 | €63,879 | +€12,343 | +23.9% |
| Recurring financial charges | 65 | €51,537 | €63,879 | +€12,343 | +23.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €7,381 | €25,108 | +€17,727 | +240% |
| Income taxes | 67/77 | €4,255 | €9,620 | +€5,365 | +126% |
| Profit (loss) for the period | 9904 | €3,126 | €15,488 | +€12,362 | +395% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €3,126 | €15,488 | +€12,362 | +395% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.