EXPLORER LABS: 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.
EXPLORER LABS
Largest movements
- Receivables within one year +€11,747
up €11,747 (+301.9%), from €3,891 to €15,638
of which Trade receivables: +€14,388
- Cash +€1,661
up €1,661 (+4.3%), from €38,964 to €40,625
mainly Net result for the year (+€7,057) and Tax, wage and social debts (+€4,975)
- Reserves +€7,057
up €7,057 (+12.1%), from €58,257 to €65,314
- Tax, wage and social debts +€4,975
up €4,975 (+328.8%), from €1,513 to €6,488
- Trade debts +€4,044
up €4,044 (+91.8%), from €4,405 to €8,449
- Financial income +€5,754
up €5,754 (+323.0%), from €1,782 to €7,536
- Gross operating margin +€5,077
up €5,077 (+60.3%), from €8,425 to €13,502
- Financial charges +€4,970
up €4,970 (+100.5%), from €4,947 to €9,917
- Taxes +€1,815
up €1,815 (+119.9%), from €1,513 to €3,328
- Depreciation -€549
down €549 (-47.1%), from €1,165 to €616
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 | €69,939 | €85,732 | +€15,793 | +22.6% |
| Fixed assets | 21/28 | €1,990 | €2,787 | +€797 | +40.0% |
| Tangible fixed assets | 22/27 | €1,990 | €2,787 | +€797 | +40.0% |
| Plant, machinery and equipment | 23 | €1,990 | €1,500 | -€490 | -24.6% |
| Furniture and vehicles | 24 | - | €1,286 | +€1,286 | |
| Current assets | 29/58 | €67,949 | €82,946 | +€14,997 | +22.1% |
| Amounts receivable after more than one year | 29 | €25,050 | €25,890 | +€840 | +3.4% |
| Other amounts receivable | 291 | €25,050 | €25,890 | +€840 | +3.4% |
| Amounts receivable within one year | 40/41 | €3,891 | €15,638 | +€11,747 | +301.9% |
| Trade receivables | 40 | €1,250 | €15,638 | +€14,388 | +1151.1% |
| Other amounts receivable | 41 | €2,641 | - | -€2,641 | |
| Cash at bank and in hand | 54/58 | €38,964 | €40,625 | +€1,661 | +4.3% |
| Deferred charges and accrued income | 490/1 | €44 | €792 | +€748 | +1694.0% |
| Total equity and liabilities | 10/49 | €69,939 | €85,732 | +€15,793 | +22.6% |
| Equity | 10/15 | €61,257 | €68,314 | +€7,057 | +11.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €58,257 | €65,314 | +€7,057 | +12.1% |
| Distributable reserves | 133 | €58,257 | €65,314 | +€7,057 | +12.1% |
| Amounts payable | 17/49 | €8,682 | €17,418 | +€8,736 | +100.6% |
| Amounts payable within one year | 42/48 | €8,682 | €17,352 | +€8,671 | +99.9% |
| Trade debts | 44 | €4,405 | €8,449 | +€4,044 | +91.8% |
| Suppliers | 440/4 | €4,405 | €8,449 | +€4,044 | +91.8% |
| Taxes, remuneration and social security | 45 | €1,513 | €6,488 | +€4,975 | +328.8% |
| Taxes | 450/3 | €1,513 | €6,488 | +€4,975 | +328.8% |
| Other amounts payable | 47/48 | €2,763 | €2,415 | -€348 | -12.6% |
| Accrued charges and deferred income | 492/3 | - | €66 | +€66 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,165 | €616 | -€549 | -47.1% |
| Other operating charges | 640/8 | €390 | €120 | -€270 | -69.3% |
| Gross operating margin | 9900 | €8,425 | €13,502 | +€5,077 | +60.3% |
| Operating profit (loss) | 9901 | €6,870 | €12,766 | +€5,896 | +85.8% |
| Financial income | 75/76B | €1,782 | €7,536 | +€5,754 | +323.0% |
| Recurring financial income | 75 | €1,782 | €7,536 | +€5,754 | +323.0% |
| Financial charges | 65/66B | €4,947 | €9,917 | +€4,970 | +100.5% |
| Recurring financial charges | 65 | €4,947 | €9,917 | +€4,970 | +100.5% |
| Profit (loss) for the period before taxes | 9903 | €3,705 | €10,385 | +€6,680 | +180.3% |
| Income taxes | 67/77 | €1,513 | €3,328 | +€1,815 | +119.9% |
| Profit (loss) for the period | 9904 | €2,192 | €7,057 | +€4,865 | +222.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,192 | €7,057 | +€4,865 | +222.0% |
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 3 October 2026 via checked.be.