EXERGIA: 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.
EXERGIA
Largest movements
- Receivables within one year +€84,145
up €84,145 (+600%), from €14,019 to €98,164
of which Trade receivables: +€82,097
- Cash +€76,608
up €76,608 (+1,926%), from €3,978 to €80,586
mainly Trade debts (+€161,296) and Tax, wage and social debts (+€6,470)
- Deferred charges and accrued income +€5,830
up €5,830 (+365%), from €1,599 to €7,429
- Financial fixed assets +€3,270
new in 2025: €3,270
- Trade debts +€161,296
up €161,296 (+1,488%), from €10,841 to €172,136
- Tax, wage and social debts +€6,470
up €6,470 (+204%), from €3,172 to €9,642
of which Remuneration and social security: +€6,838
- Gross operating margin +€16,669
up €16,669 (+1,315%), from €1,268 to €17,937
- Staff costs +€14,256
new in 2025: €14,256
- Depreciation +€1,523
up €1,523 (+528%), from €289 to €1,811
- Taxes +€510
up €510 (+99.2%), from €514 to €1,025
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 | €23,458 | €192,267 | +€168,810 | +720% |
| Formation expenses | 20 | €936 | €0 | -€936 | -100% |
| Fixed assets | 21/28 | €2,925 | €6,088 | +€3,162 | +108% |
| Intangible fixed assets | 21 | €1,507 | €1,199 | -€308 | -20.4% |
| Tangible fixed assets | 22/27 | €1,418 | €1,619 | +€200 | +14.1% |
| Furniture and vehicles | 24 | €1,418 | €1,619 | +€200 | +14.1% |
| Financial fixed assets | 28 | - | €3,270 | +€3,270 | |
| Current assets | 29/58 | €19,596 | €186,179 | +€166,584 | +850% |
| Amounts receivable within one year | 40/41 | €14,019 | €98,164 | +€84,145 | +600% |
| Trade receivables | 40 | €14,019 | €96,116 | +€82,097 | +586% |
| Other amounts receivable | 41 | - | €2,049 | +€2,049 | |
| Cash at bank and in hand | 54/58 | €3,978 | €80,586 | +€76,608 | +1,926% |
| Deferred charges and accrued income | 490/1 | €1,599 | €7,429 | +€5,830 | +365% |
| Total equity and liabilities | 10/49 | €23,458 | €192,267 | +€168,810 | +720% |
| Equity | 10/15 | €9,445 | €10,243 | +€798 | +8.5% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €445 | €1,243 | +€798 | +180% |
| Amounts payable | 17/49 | €14,013 | €182,024 | +€168,012 | +1,199% |
| Amounts payable within one year | 42/48 | €14,013 | €182,024 | +€168,012 | +1,199% |
| Trade debts | 44 | €10,841 | €172,136 | +€161,296 | +1,488% |
| Suppliers | 440/4 | €10,841 | €172,136 | +€161,296 | +1,488% |
| Taxes, remuneration and social security | 45 | €3,172 | €9,642 | +€6,470 | +204% |
| Taxes | 450/3 | €3,172 | €2,804 | -€369 | -11.6% |
| Remuneration and social security | 454/9 | - | €6,838 | +€6,838 | |
| Other amounts payable | 47/48 | - | €246 | +€246 | |
| Remuneration, social security and pensions | 62 | - | €14,256 | +€14,256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €1,811 | +€1,523 | +528% |
| Gross operating margin | 9900 | €1,268 | €17,937 | +€16,669 | +1,315% |
| Operating profit (loss) | 9901 | €979 | €1,870 | +€891 | +91.0% |
| Financial charges | 65/66B | €20 | €48 | +€27 | +136% |
| Recurring financial charges | 65 | €20 | €48 | +€27 | +136% |
| Profit (loss) for the period before taxes | 9903 | €959 | €1,823 | +€864 | +90.1% |
| Income taxes | 67/77 | €514 | €1,025 | +€510 | +99.2% |
| Profit (loss) for the period | 9904 | €445 | €798 | +€354 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €445 | €798 | +€354 | +79.5% |
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 19 October 2026 via checked.be.