ExEx: what changed
Two fiscal 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.
ExEx
Largest movements
- Receivables within one year +€200,802
up €200,802 (+93.4%), from €214,887 to €415,689
of which Other amounts receivable: +€200,801
- Cash -€64,692
down €64,692 (-35.1%), from €184,514 to €119,822
mainly Contributions, distributions and other (-€388,335) and Receivables within one year (-€200,802)
- Tangible fixed assets -€35,241
down €35,241 (-3.9%), from €910,129 to €874,888
of which Furniture and vehicles: -€23,214
- Deferred charges and accrued income +€18,155
up €18,155 (+185.4%), from €9,795 to €27,949
- Other debts +€384,835
up €384,835 (+10995.3%), from €3,500 to €388,335
- Reserves -€362,515
down €362,515 (-33.2%), from €1.1m to €730,865
- Short-term financial debts +€150,000
new in 2025: €150,000
- Debts after one year -€23,421
down €23,421 (-47.7%), from €49,076 to €25,655
- Gross operating margin -€118,134
down €118,134 (-40.1%), from €294,673 to €176,540
- Taxes +€26,512
up €26,512 (+61.7%), from €42,937 to €69,449
- Financial charges +€6,257
up €6,257 (+212.8%), from €2,940 to €9,197
- Financial income +€6,113
up €6,113 (+76.3%), from €8,014 to €14,127
- Other operating charges -€5,875
down €5,875 (-29.1%), from €20,200 to €14,325
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,319,442 | €1,438,466 | +€119,024 | +9.0% |
| Fixed assets | 21/28 | €910,246 | €875,006 | -€35,241 | -3.9% |
| Tangible fixed assets | 22/27 | €910,129 | €874,888 | -€35,241 | -3.9% |
| Land and buildings | 22 | €831,766 | €821,043 | -€10,723 | -1.3% |
| Plant, machinery and equipment | 23 | €3,508 | €2,205 | -€1,303 | -37.2% |
| Furniture and vehicles | 24 | €66,855 | €43,640 | -€23,214 | -34.7% |
| Other tangible fixed assets | 26 | €8,000 | €8,000 | = | 0.0% |
| Financial fixed assets | 28 | €118 | €118 | = | 0.0% |
| Current assets | 29/58 | €409,196 | €563,460 | +€154,264 | +37.7% |
| Amounts receivable within one year | 40/41 | €214,887 | €415,689 | +€200,802 | +93.4% |
| Trade receivables | 40 | €509 | €510 | +€1 | +0.2% |
| Other amounts receivable | 41 | €214,378 | €415,179 | +€200,801 | +93.7% |
| Cash at bank and in hand | 54/58 | €184,514 | €119,822 | -€64,692 | -35.1% |
| Deferred charges and accrued income | 490/1 | €9,795 | €27,949 | +€18,155 | +185.4% |
| Total equity and liabilities | 10/49 | €1,319,442 | €1,438,466 | +€119,024 | +9.0% |
| Equity | 10/15 | €1,173,980 | €811,465 | -€362,515 | -30.9% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €1,093,380 | €730,865 | -€362,515 | -33.2% |
| Distributable reserves | 133 | €1,093,380 | €730,865 | -€362,515 | -33.2% |
| Amounts payable | 17/49 | €145,462 | €627,000 | +€481,538 | +331.0% |
| Amounts payable after more than one year | 17 | €49,076 | €25,655 | -€23,421 | -47.7% |
| Financial debts | 170/4 | €49,076 | €25,655 | -€23,421 | -47.7% |
| Amounts payable within one year | 42/48 | €93,806 | €598,765 | +€504,959 | +538.3% |
| Current portion of amounts payable after more than one year | 42 | €36,419 | €23,421 | -€12,999 | -35.7% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €9,663 | €4,089 | -€5,575 | -57.7% |
| Suppliers | 440/4 | €9,663 | €4,089 | -€5,575 | -57.7% |
| Taxes, remuneration and social security | 45 | €44,223 | €32,920 | -€11,303 | -25.6% |
| Taxes | 450/3 | €44,223 | €32,920 | -€11,303 | -25.6% |
| Other amounts payable | 47/48 | €3,500 | €388,335 | +€384,835 | +10995.3% |
| Accrued charges and deferred income | 492/3 | €2,580 | €2,580 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,000 | €71,876 | +€1,875 | +2.7% |
| Other operating charges | 640/8 | €20,200 | €14,325 | -€5,875 | -29.1% |
| Gross operating margin | 9900 | €294,673 | €176,540 | -€118,134 | -40.1% |
| Operating profit (loss) | 9901 | €204,473 | €90,339 | -€114,134 | -55.8% |
| Financial income | 75/76B | €8,014 | €14,127 | +€6,113 | +76.3% |
| Recurring financial income | 75 | €8,014 | €14,127 | +€6,113 | +76.3% |
| Financial charges | 65/66B | €2,940 | €9,197 | +€6,257 | +212.8% |
| Recurring financial charges | 65 | €2,940 | €9,197 | +€6,257 | +212.8% |
| Profit (loss) for the period before taxes | 9903 | €209,547 | €95,269 | -€114,279 | -54.5% |
| Income taxes | 67/77 | €42,937 | €69,449 | +€26,512 | +61.7% |
| Profit (loss) for the period | 9904 | €166,611 | €25,820 | -€140,791 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €166,611 | €25,820 | -€140,791 | -84.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.