Exfosa: 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.
Exfosa
Largest movements
- Cash -€7,467
down €7,467 (-16.4%), from €45,533 to €38,066
mainly Contributions, distributions and other (-€69,100) and Receivables within one year (-€3,123)
- Receivables within one year +€3,123
up €3,123 (+65.3%), from €4,786 to €7,909
of which Trade receivables: +€3,994
- Tangible fixed assets -€684
down €684 (-14.3%), from €4,786 to €4,103
of which Other tangible fixed assets: -€486
- Profit (loss) carried forward -€46,304
down €46,304 (-98.1%), from €47,178 to €874
- Other debts +€41,919
new in 2025: €41,919
- Gross operating margin +€4,228
up €4,228 (+15.1%), from €27,968 to €32,196
- Taxes -€513
down €513 (-7.2%), from €7,135 to €6,622
- Depreciation +€464
up €464 (+24.6%), from €1,888 to €2,351
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 | €55,105 | €50,589 | -€4,516 | -8.2% |
| Fixed assets | 21/28 | €4,786 | €4,103 | -€684 | -14.3% |
| Tangible fixed assets | 22/27 | €4,786 | €4,103 | -€684 | -14.3% |
| Furniture and vehicles | 24 | €4,141 | €3,944 | -€197 | -4.8% |
| Other tangible fixed assets | 26 | €645 | €158 | -€486 | -75.5% |
| Current assets | 29/58 | €50,319 | €46,486 | -€3,832 | -7.6% |
| Amounts receivable within one year | 40/41 | €4,786 | €7,909 | +€3,123 | +65.3% |
| Trade receivables | 40 | €2,482 | €6,476 | +€3,994 | +160.9% |
| Other amounts receivable | 41 | €2,304 | €1,433 | -€871 | -37.8% |
| Cash at bank and in hand | 54/58 | €45,533 | €38,066 | -€7,467 | -16.4% |
| Deferred charges and accrued income | 490/1 | €0 | €511 | +€511 | |
| Total equity and liabilities | 10/49 | €55,105 | €50,589 | -€4,516 | -8.2% |
| Equity | 10/15 | €54,678 | €8,374 | -€46,304 | -84.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,178 | €874 | -€46,304 | -98.1% |
| Amounts payable | 17/49 | €427 | €42,215 | +€41,789 | +9796.0% |
| Amounts payable within one year | 42/48 | €427 | €42,215 | +€41,789 | +9796.0% |
| Trade debts | 44 | €56 | €223 | +€167 | +298.2% |
| Suppliers | 440/4 | €56 | €223 | +€167 | +298.2% |
| Taxes, remuneration and social security | 45 | €371 | €73 | -€298 | -80.3% |
| Taxes | 450/3 | €371 | €73 | -€298 | -80.3% |
| Other amounts payable | 47/48 | - | €41,919 | +€41,919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,888 | €2,351 | +€464 | +24.6% |
| Other operating charges | 640/8 | €505 | €572 | +€66 | +13.1% |
| Gross operating margin | 9900 | €27,968 | €32,196 | +€4,228 | +15.1% |
| Operating profit (loss) | 9901 | €25,575 | €29,274 | +€3,698 | +14.5% |
| Financial income | 75/76B | €133 | €244 | +€112 | +84.1% |
| Recurring financial income | 75 | €133 | €244 | +€112 | +84.1% |
| Financial charges | 65/66B | €99 | €100 | +€1 | +1.4% |
| Recurring financial charges | 65 | €99 | €100 | +€1 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €25,609 | €29,418 | +€3,809 | +14.9% |
| Income taxes | 67/77 | €7,135 | €6,622 | -€513 | -7.2% |
| Profit (loss) for the period | 9904 | €18,474 | €22,796 | +€4,321 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,474 | €22,796 | +€4,321 | +23.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.