EXODUS: 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.
EXODUS
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+68.0%), from €1.8m to €3.0m
of which Land and buildings: +€1.2m
- Financial fixed assets +€738,653
up €738,653 (+1172.8%), from €62,980 to €801,633
- Receivables within one year +€437,978
up €437,978 (+52.5%), from €835,013 to €1.3m
of which Trade receivables: +€395,939
- Revaluation surpluses +€1.3m
up €1.3m (+175.9%), from €725,000 to €2.0m
- Short-term financial debts +€1.2m
up €1.2m (+226.0%), from €533,400 to €1.7m
- Other debts +€222,252
new in 2025: €222,252
- Debts after one year -€212,443
down €212,443 (-23.4%), from €906,011 to €693,568
- Profit (loss) carried forward -€95,500
down €95,500 (-40.0%), from -€238,611 to -€334,111
- Gross operating margin +€111,489
up €111,489 (+142.8%), from €78,057 to €189,546
- Financial charges +€39,276
up €39,276 (+73.2%), from €53,661 to €92,936
- Financial income -€31,123
down €31,123 (-99.7%), from €31,206 to €83
- Staff costs -€22,668
down €22,668 (-71.3%), from €31,812 to €9,144
- Depreciation -€3,649
down €3,649 (-5.6%), from €65,726 to €62,078
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 | €3,000,100 | €5,457,574 | +€2.5m | +81.9% |
| Fixed assets | 21/28 | €1,875,370 | €3,845,786 | +€2.0m | +105.1% |
| Tangible fixed assets | 22/27 | €1,812,390 | €3,044,153 | +€1.2m | +68.0% |
| Land and buildings | 22 | €1,802,843 | €3,031,676 | +€1.2m | +68.2% |
| Furniture and vehicles | 24 | €9,547 | €12,478 | +€2,931 | +30.7% |
| Financial fixed assets | 28 | €62,980 | €801,633 | +€738,653 | +1172.8% |
| Current assets | 29/58 | €1,124,730 | €1,611,787 | +€487,058 | +43.3% |
| Amounts receivable after more than one year | 29 | €283,500 | €283,500 | = | 0.0% |
| Other amounts receivable | 291 | €283,500 | €283,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €12,396 | +€12,396 | |
| Stocks | 30/36 | - | €12,396 | +€12,396 | |
| Amounts receivable within one year | 40/41 | €835,013 | €1,272,991 | +€437,978 | +52.5% |
| Trade receivables | 40 | €346,037 | €741,976 | +€395,939 | +114.4% |
| Other amounts receivable | 41 | €488,976 | €531,015 | +€42,039 | +8.6% |
| Cash at bank and in hand | 54/58 | €25 | €127 | +€102 | +414.5% |
| Deferred charges and accrued income | 490/1 | €6,192 | €42,773 | +€36,581 | +590.8% |
| Total equity and liabilities | 10/49 | €3,000,100 | €5,457,574 | +€2.5m | +81.9% |
| Equity | 10/15 | €1,204,589 | €2,384,089 | +€1.2m | +97.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €725,000 | €2,000,000 | +€1.3m | +175.9% |
| Reserves | 13 | €656,200 | €656,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,611 | -€334,111 | -€95,500 | -40.0% |
| Amounts payable | 17/49 | €1,795,511 | €3,073,485 | +€1.3m | +71.2% |
| Amounts payable after more than one year | 17 | €906,011 | €693,568 | -€212,443 | -23.4% |
| Financial debts | 170/4 | €906,011 | €693,568 | -€212,443 | -23.4% |
| Amounts payable within one year | 42/48 | €882,340 | €2,363,201 | +€1.5m | +167.8% |
| Current portion of amounts payable after more than one year | 42 | €265,196 | €291,348 | +€26,152 | +9.9% |
| Financial debts | 43 | €533,400 | €1,738,880 | +€1.2m | +226.0% |
| Credit institutions | 430/8 | €533,400 | €1,738,880 | +€1.2m | +226.0% |
| Trade debts | 44 | €81,651 | €110,113 | +€28,462 | +34.9% |
| Suppliers | 440/4 | €81,651 | €110,113 | +€28,462 | +34.9% |
| Taxes, remuneration and social security | 45 | €2,092 | €608 | -€1,484 | -70.9% |
| Taxes | 450/3 | €289 | €608 | +€319 | +110.2% |
| Remuneration and social security | 454/9 | €1,803 | €0 | -€1,803 | -100.0% |
| Other amounts payable | 47/48 | - | €222,252 | +€222,252 | |
| Accrued charges and deferred income | 492/3 | €7,159 | €16,715 | +€9,556 | +133.5% |
| Non-recurring operating income | 76A | €4,545 | €0 | -€4,545 | -100.0% |
| Remuneration, social security and pensions | 62 | €31,812 | €9,144 | -€22,668 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,726 | €62,078 | -€3,649 | -5.6% |
| Other operating charges | 640/8 | €10,154 | €10,010 | -€145 | -1.4% |
| Non-recurring operating charges | 66A | €0 | €110,643 | +€110,643 | |
| Gross operating margin | 9900 | €78,057 | €189,546 | +€111,489 | +142.8% |
| Operating profit (loss) | 9901 | -€29,636 | -€2,328 | +€27,309 | +92.1% |
| Financial income | 75/76B | €31,206 | €83 | -€31,123 | -99.7% |
| Recurring financial income | 75 | €31,206 | €83 | -€31,123 | -99.7% |
| Financial charges | 65/66B | €53,661 | €92,936 | +€39,276 | +73.2% |
| Recurring financial charges | 65 | €53,661 | €92,936 | +€39,276 | +73.2% |
| Profit (loss) for the period before taxes | 9903 | -€52,091 | -€95,181 | -€43,090 | -82.7% |
| Income taxes | 67/77 | €289 | €319 | +€30 | +10.2% |
| Profit (loss) for the period | 9904 | -€52,380 | -€95,500 | -€43,120 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,380 | -€95,500 | -€43,120 | -82.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.