Exhaurea: 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.
Exhaurea
Largest movements
- Tangible fixed assets -€1.4m
down €1.4m (-11.0%), from €12.3m to €10.9m
of which Plant, machinery and equipment: -€1.4m
- Cash -€926,380
down €926,380 (-73.5%), from €1.3m to €334,417
- Receivables within one year +€520,469
up €520,469 (+38.8%), from €1.3m to €1.9m
of which Trade receivables: +€502,561
- Investment grants -€782,417
down €782,417 (-11.4%), from €6.8m to €6.1m
- Trade debts -€570,955
down €570,955 (-30.8%), from €1.9m to €1.3m
- Debts after one year -€351,000
no longer reported in 2025 (was €351,000)
- Services and other goods -€241,525
down €241,525 (-12.3%), from €2.0m to €1.7m
- Provisions +€227,381
up €227,381 (+79.8%), from -€284,971 to -€57,590
- Turnover -€87,067
down €87,067 (-3.0%), from €2.9m to €2.8m
- Other operating charges -€65,293
down €65,293 (-11.3%), from €575,488 to €510,194
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,897,705 | €13,134,601 | -€1.8m | -11.8% |
| Fixed assets | 21/28 | €12,296,874 | €10,939,681 | -€1.4m | -11.0% |
| Tangible fixed assets | 22/27 | €12,296,874 | €10,939,681 | -€1.4m | -11.0% |
| Land and buildings | 22 | €291,176 | €291,176 | = | 0.0% |
| Plant, machinery and equipment | 23 | €12,005,698 | €10,648,505 | -€1.4m | -11.3% |
| Current assets | 29/58 | €2,600,831 | €2,194,920 | -€405,911 | -15.6% |
| Amounts receivable within one year | 40/41 | €1,340,034 | €1,860,503 | +€520,469 | +38.8% |
| Trade receivables | 40 | €1,305,330 | €1,807,891 | +€502,561 | +38.5% |
| Other amounts receivable | 41 | €34,704 | €52,612 | +€17,908 | +51.6% |
| Cash at bank and in hand | 54/58 | €1,260,797 | €334,417 | -€926,380 | -73.5% |
| Total equity and liabilities | 10/49 | €14,897,705 | €13,134,601 | -€1.8m | -11.8% |
| Equity | 10/15 | €11,844,867 | €11,062,450 | -€782,417 | -6.6% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Investment grants | 15 | €6,844,867 | €6,062,450 | -€782,417 | -11.4% |
| Provisions and deferred taxes | 16 | €442,066 | €384,476 | -€57,590 | -13.0% |
| Provisions for liabilities and charges | 160/5 | €442,066 | €384,476 | -€57,590 | -13.0% |
| Major repairs and maintenance | 162 | €442,066 | €384,476 | -€57,590 | -13.0% |
| Amounts payable | 17/49 | €2,610,772 | €1,687,675 | -€923,097 | -35.4% |
| Amounts payable after more than one year | 17 | €351,000 | - | -€351,000 | |
| Financial debts | 170/4 | €351,000 | - | -€351,000 | |
| Credit institutions | 173 | €351,000 | - | -€351,000 | |
| Amounts payable within one year | 42/48 | €2,257,482 | €1,686,527 | -€570,955 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €351,000 | €351,000 | = | 0.0% |
| Trade debts | 44 | €1,851,603 | €1,280,648 | -€570,955 | -30.8% |
| Suppliers | 440/4 | €1,851,603 | €1,280,648 | -€570,955 | -30.8% |
| Other amounts payable | 47/48 | €54,879 | €54,879 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,290 | €1,148 | -€1,142 | -49.9% |
| Operating income | 70/76A | €2,896,974 | €2,809,907 | -€87,067 | -3.0% |
| Turnover | 70 | €2,896,974 | €2,809,907 | -€87,067 | -3.0% |
| Operating charges | 60/66A | €3,638,303 | €3,565,638 | -€72,666 | -2.0% |
| Services and other goods | 61 | €1,963,506 | €1,721,980 | -€241,525 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,384,281 | €1,391,053 | +€6,772 | +0.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€284,971 | -€57,590 | +€227,381 | +79.8% |
| Other operating charges | 640/8 | €575,488 | €510,194 | -€65,293 | -11.3% |
| Operating profit (loss) | 9901 | -€741,330 | -€755,731 | -€14,401 | -1.9% |
| Financial income | 75/76B | €782,417 | €782,417 | +€0 | 0.0% |
| Recurring financial income | 75 | €782,417 | €782,417 | +€0 | 0.0% |
| Other financial income | 752/9 | €782,417 | €782,417 | +€0 | 0.0% |
| Financial charges | 65/66B | €41,087 | €26,686 | -€14,400 | -35.0% |
| Recurring financial charges | 65 | €41,087 | €26,686 | -€14,400 | -35.0% |
| Debt charges | 650 | - | €26,335 | +€26,335 | |
| Other financial charges | 652/9 | €41,087 | €352 | -€40,735 | -99.1% |
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 11 October 2026 via checked.be.