EXFISCO: 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.
EXFISCO
Largest movements
- Receivables within one year +€130,959
up €130,959 (+246.5%), from €53,121 to €184,080
of which Other amounts receivable: +€86,563
- Cash +€69,242
up €69,242 (+353.8%), from €19,572 to €88,813
mainly Net result for the year (+€325,561) and Deferred charges and accrued income (+€68,572)
- Deferred charges and accrued income -€68,572
no longer reported in 2025 (was €68,572)
- Reserves +€189,450
up €189,450 (+93.1%), from €203,465 to €392,915
of which Tax-exempt reserves: +€189,450
- Other debts -€186,992
down €186,992 (-99.9%), from €187,091 to €100
- Profit (loss) carried forward +€136,111
up €136,111 (+105.3%), from €129,205 to €265,316
- Advances received +€27,738
new in 2025: €27,738
- Trade debts -€21,811
no longer reported in 2025 (was €21,811)
- Gross operating margin +€325,317
up €325,317 (+435.7%), from €74,659 to €399,977
- Taxes +€48,399
up €48,399 (+473.1%), from €10,230 to €58,629
- Financial income -€34,994
no longer reported in 2025 (was €34,994)
- Staff costs -€28,100
down €28,100 (-70.3%), from €39,996 to €11,896
- Provisions +€20,000
no longer reported in 2025 (was -€20,000)
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 | €641,264 | €772,893 | +€131,629 | +20.5% |
| Fixed assets | 21/28 | €500,000 | €500,000 | = | 0.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €141,264 | €272,893 | +€131,629 | +93.2% |
| Amounts receivable within one year | 40/41 | €53,121 | €184,080 | +€130,959 | +246.5% |
| Trade receivables | 40 | €33,351 | €77,747 | +€44,395 | +133.1% |
| Other amounts receivable | 41 | €19,770 | €106,333 | +€86,563 | +437.9% |
| Cash at bank and in hand | 54/58 | €19,572 | €88,813 | +€69,242 | +353.8% |
| Deferred charges and accrued income | 490/1 | €68,572 | - | -€68,572 | |
| Total equity and liabilities | 10/49 | €641,264 | €772,893 | +€131,629 | +20.5% |
| Equity | 10/15 | €351,220 | €676,781 | +€325,561 | +92.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €203,465 | €392,915 | +€189,450 | +93.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €189,450 | +€189,450 | |
| Distributable reserves | 133 | €201,605 | €201,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,205 | €265,316 | +€136,111 | +105.3% |
| Amounts payable | 17/49 | €290,045 | €96,112 | -€193,933 | -66.9% |
| Amounts payable after more than one year | 17 | €8,786 | €1,798 | -€6,987 | -79.5% |
| Financial debts | 170/4 | €8,786 | €1,798 | -€6,987 | -79.5% |
| Amounts payable within one year | 42/48 | €281,259 | €94,314 | -€186,945 | -66.5% |
| Current portion of amounts payable after more than one year | 42 | €34,227 | €48,310 | +€14,083 | +41.1% |
| Trade debts | 44 | €21,811 | - | -€21,811 | |
| Suppliers | 440/4 | €21,811 | - | -€21,811 | |
| Advances received on contracts in progress | 46 | - | €27,738 | +€27,738 | |
| Taxes, remuneration and social security | 45 | €38,129 | €18,165 | -€19,964 | -52.4% |
| Taxes | 450/3 | €33,004 | €18,165 | -€14,839 | -45.0% |
| Remuneration and social security | 454/9 | €5,125 | - | -€5,125 | |
| Other amounts payable | 47/48 | €187,091 | €100 | -€186,992 | -99.9% |
| Remuneration, social security and pensions | 62 | €39,996 | €11,896 | -€28,100 | -70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,496 | - | -€1,496 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,000 | - | +€20,000 | |
| Other operating charges | 640/8 | €6,132 | €1,454 | -€4,678 | -76.3% |
| Gross operating margin | 9900 | €74,659 | €399,977 | +€325,317 | +435.7% |
| Operating profit (loss) | 9901 | €47,035 | €386,627 | +€339,591 | +722.0% |
| Financial income | 75/76B | €34,994 | - | -€34,994 | |
| Recurring financial income | 75 | €34,994 | - | -€34,994 | |
| Financial charges | 65/66B | €1,879 | €2,436 | +€557 | +29.7% |
| Recurring financial charges | 65 | €1,879 | €2,436 | +€557 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €80,150 | €384,190 | +€304,040 | +379.3% |
| Income taxes | 67/77 | €10,230 | €58,629 | +€48,399 | +473.1% |
| Profit (loss) for the period | 9904 | €69,920 | €325,561 | +€255,641 | +365.6% |
| Transfer to tax-exempt reserves | 689 | - | €189,450 | +€189,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €69,920 | €136,111 | +€66,191 | +94.7% |
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 5 October 2026 via checked.be.