Exploration Labs: 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.
Exploration Labs
Largest movements
- Tangible fixed assets -€12,868
down €12,868 (-19.9%), from €64,753 to €51,885
of which Furniture and vehicles: -€16,180
- Cash -€2,933
down €2,933 (-3.7%), from €78,233 to €75,300
mainly Contributions, distributions and other (-€44,698) and Debts after one year (-€14,920)
- Debts after one year -€14,920
down €14,920 (-42.0%), from €35,511 to €20,590
- Advances received -€7,767
down €7,767 (-99.0%), from €7,843 to €75
- Other debts +€5,760
up €5,760 (+18.6%), from €30,893 to €36,652
- Turnover +€243,266
new in 2025: €243,266
- Purchases and services +€167,861
new in 2025: €167,861
- Gross operating margin +€30,663
up €30,663 (+63.6%), from €48,184 to €78,847
- Taxes +€4,560
up €4,560 (+60.3%), from €7,557 to €12,116
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 | €158,843 | €144,244 | -€14,599 | -9.2% |
| Fixed assets | 21/28 | €64,753 | €51,885 | -€12,868 | -19.9% |
| Tangible fixed assets | 22/27 | €64,753 | €51,885 | -€12,868 | -19.9% |
| Plant, machinery and equipment | 23 | €2,012 | €6,255 | +€4,244 | +210.9% |
| Furniture and vehicles | 24 | €54,570 | €38,390 | -€16,180 | -29.7% |
| Other tangible fixed assets | 26 | €8,171 | €7,240 | -€931 | -11.4% |
| Current assets | 29/58 | €94,090 | €92,359 | -€1,731 | -1.8% |
| Amounts receivable within one year | 40/41 | €14,584 | €15,712 | +€1,128 | +7.7% |
| Trade receivables | 40 | - | €10,368 | +€10,368 | |
| Other amounts receivable | 41 | €14,584 | €5,345 | -€9,240 | -63.4% |
| Cash at bank and in hand | 54/58 | €78,233 | €75,300 | -€2,933 | -3.7% |
| Deferred charges and accrued income | 490/1 | €1,272 | €1,347 | +€74 | +5.8% |
| Total equity and liabilities | 10/49 | €158,843 | €144,244 | -€14,599 | -9.2% |
| Equity | 10/15 | €60,792 | €60,792 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €50,792 | €50,792 | = | 0.0% |
| Distributable reserves | 133 | €50,792 | €50,792 | = | 0.0% |
| Amounts payable | 17/49 | €98,052 | €83,452 | -€14,599 | -14.9% |
| Amounts payable after more than one year | 17 | €35,511 | €20,590 | -€14,920 | -42.0% |
| Financial debts | 170/4 | €35,511 | €20,590 | -€14,920 | -42.0% |
| Amounts payable within one year | 42/48 | €62,541 | €62,136 | -€405 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €14,487 | €14,920 | +€433 | +3.0% |
| Trade debts | 44 | €972 | €635 | -€338 | -34.7% |
| Suppliers | 440/4 | €972 | €635 | -€338 | -34.7% |
| Advances received on contracts in progress | 46 | €7,843 | €75 | -€7,767 | -99.0% |
| Taxes, remuneration and social security | 45 | €8,346 | €9,854 | +€1,508 | +18.1% |
| Taxes | 450/3 | €5,696 | €9,854 | +€4,158 | +73.0% |
| Remuneration and social security | 454/9 | €2,650 | - | -€2,650 | |
| Other amounts payable | 47/48 | €30,893 | €36,652 | +€5,760 | +18.6% |
| Accrued charges and deferred income | 492/3 | - | €726 | +€726 | |
| Turnover | 70 | - | €243,266 | +€243,266 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €167,861 | +€167,861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,498 | €19,374 | -€2,125 | -9.9% |
| Other operating charges | 640/8 | €76 | €384 | +€308 | +407.2% |
| Gross operating margin | 9900 | €48,184 | €78,847 | +€30,663 | +63.6% |
| Operating profit (loss) | 9901 | €26,610 | €59,090 | +€32,480 | +122.1% |
| Financial income | 75/76B | €1,563 | €590 | -€973 | -62.2% |
| Recurring financial income | 75 | €1,563 | €590 | -€973 | -62.2% |
| Financial charges | 65/66B | €2,534 | €2,866 | +€331 | +13.1% |
| Recurring financial charges | 65 | €2,534 | €2,866 | +€331 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €25,639 | €56,814 | +€31,176 | +121.6% |
| Income taxes | 67/77 | €7,557 | €12,116 | +€4,560 | +60.3% |
| Profit (loss) for the period | 9904 | €18,082 | €44,698 | +€26,616 | +147.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,082 | €44,698 | +€26,616 | +147.2% |
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 9 October 2026 via checked.be.