EXOP: 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.
EXOP
Largest movements
- Cash -€16,618
down €16,618 (-57.5%), from €28,918 to €12,300
mainly Contributions, distributions and other (-€52,134) and Receivables within one year (-€13,065)
- Receivables within one year +€13,065
up €13,065 (+86.3%), from €15,144 to €28,209
of which Trade receivables: +€16,568
- Tangible fixed assets +€1,115
up €1,115 (+54.7%), from €2,037 to €3,151
of which Other tangible fixed assets: +€2,040
- Other debts -€6,551
down €6,551 (-17.3%), from €37,927 to €31,376
- Tax, wage and social debts +€4,044
up €4,044 (+51.1%), from €7,913 to €11,957
- Gross operating margin +€19,038
up €19,038 (+37.6%), from €50,639 to €69,677
- Taxes +€3,835
up €3,835 (+38.8%), from €9,872 to €13,706
- Financial charges +€883
up €883 (+63.4%), from €1,394 to €2,277
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 | €49,020 | €46,315 | -€2,705 | -5.5% |
| Fixed assets | 21/28 | €2,037 | €3,151 | +€1,115 | +54.7% |
| Tangible fixed assets | 22/27 | €2,037 | €3,151 | +€1,115 | +54.7% |
| Plant, machinery and equipment | 23 | €1,740 | €1,016 | -€724 | -41.6% |
| Furniture and vehicles | 24 | €297 | €96 | -€201 | -67.7% |
| Other tangible fixed assets | 26 | - | €2,040 | +€2,040 | |
| Current assets | 29/58 | €46,983 | €43,164 | -€3,819 | -8.1% |
| Amounts receivable within one year | 40/41 | €15,144 | €28,209 | +€13,065 | +86.3% |
| Trade receivables | 40 | €11,640 | €28,209 | +€16,568 | +142.3% |
| Other amounts receivable | 41 | €3,504 | - | -€3,504 | |
| Cash at bank and in hand | 54/58 | €28,918 | €12,300 | -€16,618 | -57.5% |
| Deferred charges and accrued income | 490/1 | €2,921 | €2,656 | -€266 | -9.1% |
| Total equity and liabilities | 10/49 | €49,020 | €46,315 | -€2,705 | -5.5% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €47,020 | €44,315 | -€2,705 | -5.8% |
| Amounts payable within one year | 42/48 | €47,020 | €44,312 | -€2,708 | -5.8% |
| Trade debts | 44 | €1,179 | €979 | -€200 | -17.0% |
| Suppliers | 440/4 | €1,179 | €979 | -€200 | -17.0% |
| Taxes, remuneration and social security | 45 | €7,913 | €11,957 | +€4,044 | +51.1% |
| Taxes | 450/3 | €7,913 | €11,957 | +€4,044 | +51.1% |
| Other amounts payable | 47/48 | €37,927 | €31,376 | -€6,551 | -17.3% |
| Accrued charges and deferred income | 492/3 | - | €3 | +€3 | |
| Remuneration, social security and pensions | 62 | €86 | - | -€86 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €1,048 | +€123 | +13.3% |
| Other operating charges | 640/8 | €845 | €520 | -€325 | -38.5% |
| Gross operating margin | 9900 | €50,639 | €69,677 | +€19,038 | +37.6% |
| Operating profit (loss) | 9901 | €48,783 | €68,109 | +€19,326 | +39.6% |
| Financial income | 75/76B | €72 | €9 | -€63 | -87.8% |
| Recurring financial income | 75 | €72 | €9 | -€63 | -87.8% |
| Financial charges | 65/66B | €1,394 | €2,277 | +€883 | +63.4% |
| Recurring financial charges | 65 | €1,394 | €2,277 | +€883 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €47,461 | €65,841 | +€18,380 | +38.7% |
| Income taxes | 67/77 | €9,872 | €13,706 | +€3,835 | +38.8% |
| Profit (loss) for the period | 9904 | €37,589 | €52,134 | +€14,545 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,589 | €52,134 | +€14,545 | +38.7% |
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 28 September 2026 via checked.be.