EXKUUZ: 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.
What changed
EXKUUZ
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€10,779
2024 · €13,418-€24,197
Equity
€30,465
2024 · €41,244-€10,779
Cash
€1,562
2024 · €2,779-€1,217
Balance sheet total
€489,553
2024 · €516,516-€26,963
Largest movements
Assets
- Tangible fixed assets -€31,520
down €31,520 (-7.1%), from €442,446 to €410,926
of which Land and buildings: -€20,306
- Receivables within one year +€7,476
up €7,476 (+15.9%), from €47,024 to €54,500
of which Trade receivables: +€4,639
Equity and liabilities
- Debts after one year +€72,171
new in 2025: €72,171
- Other debts -€60,758
no longer reported in 2025 (was €60,758)
- Provisions -€28,888
down €28,888 (-7.2%), from €403,705 to €374,817
- Profit (loss) carried forward -€10,779
down €10,779 (-99.1%), from €10,877 to €98
Income statement
- Write-downs -€26,163
new in 2025: -€26,163
- Gross operating margin +€6,667
up €6,667 (+17.3%), from €38,499 to €45,166
- Staff costs +€2,961
up €2,961 (+64.8%), from €4,566 to €7,527
- Depreciation -€1,324
down €1,324 (-3.4%), from €38,971 to €37,647
- Taxes +€474
up €474 (+66.9%), from €709 to €1,183
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.
Result 2024
€13,418
Gross operating margin
+€6,667
Staff costs
-€2,961
Depreciation
+€1,324
Write-downs
+€26,163
Other operating charges
-€117
Financial income
-€159
Financial charges
+€40
Taxes
-€474
Deferred taxes and other
-€54,680
Result 2025
-€10,779
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€67,261
Investment
-€6,127
Financing
+€72,171
Cash 2024
€2,779
From operations (derived)
-€67,261
Net result for the year
-€10,779
Depreciation
+€37,647
Receivables within one year
-€7,476
Deferred charges and accrued income
+€1,702
Provisions
-€28,888
Trade debts
-€832
Tax, wage and social debts
+€2,123
Other debts
-€60,758
Investment (derived)
-€6,127
Investment in fixed assets (net)
-€6,127
Financing
+€72,171
Debts after one year
+€72,171
Cash 2025
€1,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €516,516 | €489,553 | -€26,963 | -5.2% |
| Fixed assets | 21/28 | €465,011 | €433,491 | -€31,520 | -6.8% |
| Tangible fixed assets | 22/27 | €442,446 | €410,926 | -€31,520 | -7.1% |
| Land and buildings | 22 | €395,014 | €374,708 | -€20,306 | -5.1% |
| Plant, machinery and equipment | 23 | €5,239 | €2,816 | -€2,423 | -46.2% |
| Furniture and vehicles | 24 | €42,193 | €33,402 | -€8,791 | -20.8% |
| Financial fixed assets | 28 | €22,565 | €22,565 | = | 0.0% |
| Current assets | 29/58 | €51,505 | €56,062 | +€4,557 | +8.8% |
| Amounts receivable within one year | 40/41 | €47,024 | €54,500 | +€7,476 | +15.9% |
| Trade receivables | 40 | €46,528 | €51,167 | +€4,639 | +10.0% |
| Other amounts receivable | 41 | €496 | €3,333 | +€2,837 | +572% |
| Cash at bank and in hand | 54/58 | €2,779 | €1,562 | -€1,217 | -43.8% |
| Deferred charges and accrued income | 490/1 | €1,702 | - | -€1,702 | |
| Total equity and liabilities | 10/49 | €516,516 | €489,553 | -€26,963 | -5.2% |
| Equity | 10/15 | €41,244 | €30,465 | -€10,779 | -26.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €11,775 | €11,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €9,916 | €9,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,877 | €98 | -€10,779 | -99.1% |
| Provisions and deferred taxes | 16 | €403,705 | €374,817 | -€28,888 | -7.2% |
| Provisions for liabilities and charges | 160/5 | €403,705 | €374,817 | -€28,888 | -7.2% |
| Pensions and similar obligations | 160 | €26,163 | - | -€26,163 | |
| Other liabilities and charges | 164/5 | €377,542 | €374,817 | -€2,725 | -0.7% |
| Amounts payable | 17/49 | €71,567 | €84,271 | +€12,704 | +17.8% |
| Amounts payable after more than one year | 17 | - | €72,171 | +€72,171 | |
| Other amounts payable | 178/9 | - | €72,171 | +€72,171 | |
| Amounts payable within one year | 42/48 | €71,567 | €12,100 | -€59,467 | -83.1% |
| Trade debts | 44 | €5,968 | €5,136 | -€832 | -13.9% |
| Suppliers | 440/4 | €5,968 | €5,136 | -€832 | -13.9% |
| Taxes, remuneration and social security | 45 | €4,841 | €6,964 | +€2,123 | +43.9% |
| Taxes | 450/3 | €1,398 | €2,460 | +€1,062 | +76.0% |
| Remuneration and social security | 454/9 | €3,443 | €4,504 | +€1,061 | +30.8% |
| Other amounts payable | 47/48 | €60,758 | - | -€60,758 | |
| Remuneration, social security and pensions | 62 | €4,566 | €7,527 | +€2,961 | +64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,971 | €37,647 | -€1,324 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€26,163 | -€26,163 | |
| Other operating charges | 640/8 | €7,982 | €8,099 | +€117 | +1.5% |
| Gross operating margin | 9900 | €38,499 | €45,166 | +€6,667 | +17.3% |
| Operating profit (loss) | 9901 | -€13,020 | €18,056 | +€31,076 | |
| Financial income | 75/76B | €2,904 | €2,745 | -€159 | -5.5% |
| Recurring financial income | 75 | €2,904 | €2,745 | -€159 | -5.5% |
| Financial charges | 65/66B | €30,437 | €30,397 | -€40 | -0.1% |
| Recurring financial charges | 65 | €30,437 | €30,397 | -€40 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,553 | -€9,596 | +€30,957 | +76.3% |
| Transfer from deferred taxes | 780 | €54,680 | - | -€54,680 | |
| Income taxes | 67/77 | €709 | €1,183 | +€474 | +66.9% |
| Profit (loss) for the period | 9904 | €13,418 | -€10,779 | -€24,197 | |
| Transfer from tax-exempt reserves | 789 | €128,933 | - | -€128,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €142,351 | -€10,779 | -€153,130 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.