EXPLOTECH: 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.
EXPLOTECH
Largest movements
- Cash +€628,670
up €628,670 (+63.4%), from €991,096 to €1.6m
mainly Net result for the year (+€606,981) and Trade debts (+€140,903)
- Stocks and contracts +€237,847
up €237,847 (+55.9%), from €425,659 to €663,506
of which Stocks: +€410,569
- Tangible fixed assets -€74,044
down €74,044 (-42.2%), from €175,289 to €101,246
of which Plant, machinery and equipment: -€39,816
- Receivables within one year +€36,091
up €36,091 (+3.5%), from €1.0m to €1.1m
of which Other amounts receivable: +€26,185
- Reserves +€1.4m
up €1.4m (+3120.6%), from €43,797 to €1.4m
of which Distributable reserves: +€1.4m
- Profit (loss) carried forward -€759,739
no longer reported in 2024 (was €759,739)
- Trade debts +€140,903
up €140,903 (+15.2%), from €925,472 to €1.1m
- Tax, wage and social debts +€114,474
up €114,474 (+32.3%), from €354,825 to €469,299
of which Taxes: +€130,278
- Staff costs -€93,081
down €93,081 (-10.4%), from €891,673 to €798,591
- Taxes +€27,459
up €27,459 (+13.7%), from €200,542 to €228,001
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,766,445 | €3,605,947 | +€839,502 | +30.3% |
| Fixed assets | 21/28 | €241,848 | €178,429 | -€63,418 | -26.2% |
| Intangible fixed assets | 21 | €7,659 | €5,634 | -€2,025 | -26.4% |
| Tangible fixed assets | 22/27 | €175,289 | €101,246 | -€74,044 | -42.2% |
| Plant, machinery and equipment | 23 | €39,816 | - | -€39,816 | |
| Furniture and vehicles | 24 | €135,473 | €101,246 | -€34,227 | -25.3% |
| Financial fixed assets | 28 | €58,900 | €71,550 | +€12,651 | +21.5% |
| Current assets | 29/58 | €2,524,598 | €3,427,518 | +€902,920 | +35.8% |
| Stocks and contracts in progress | 3 | €425,659 | €663,506 | +€237,847 | +55.9% |
| Stocks | 30/36 | - | €410,569 | +€410,569 | |
| Contracts in progress | 37 | €425,659 | €252,937 | -€172,722 | -40.6% |
| Amounts receivable within one year | 40/41 | €1,021,440 | €1,057,531 | +€36,091 | +3.5% |
| Trade receivables | 40 | €994,281 | €1,004,188 | +€9,907 | +1.0% |
| Other amounts receivable | 41 | €27,159 | €53,343 | +€26,185 | +96.4% |
| Cash at bank and in hand | 54/58 | €991,096 | €1,619,766 | +€628,670 | +63.4% |
| Deferred charges and accrued income | 490/1 | €86,402 | €86,715 | +€313 | +0.4% |
| Total equity and liabilities | 10/49 | €2,766,445 | €3,605,947 | +€839,502 | +30.3% |
| Equity | 10/15 | €1,241,504 | €1,848,485 | +€606,981 | +48.9% |
| Contributions | 10/11 | €437,968 | €437,968 | = | 0.0% |
| Capital | 10 | €437,968 | €437,968 | = | 0.0% |
| Issued capital | 100 | €437,968 | €437,968 | = | 0.0% |
| Reserves | 13 | €43,797 | €1,410,517 | +€1.4m | +3120.6% |
| Non-distributable reserves | 130/1 | €43,797 | €43,797 | = | 0.0% |
| Legal reserve | 130 | €43,797 | €43,797 | = | 0.0% |
| Distributable reserves | 133 | - | €1,366,720 | +€1.4m | |
| Profit (loss) carried forward | 14 | €759,739 | - | -€759,739 | |
| Amounts payable | 17/49 | €1,524,942 | €1,757,463 | +€232,521 | +15.2% |
| Amounts payable after more than one year | 17 | €71,789 | €49,365 | -€22,424 | -31.2% |
| Financial debts | 170/4 | €71,789 | €49,365 | -€22,424 | -31.2% |
| Amounts payable within one year | 42/48 | €1,453,153 | €1,708,097 | +€254,945 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €22,856 | €22,424 | -€432 | -1.9% |
| Trade debts | 44 | €925,472 | €1,066,375 | +€140,903 | +15.2% |
| Suppliers | 440/4 | €925,472 | €1,066,375 | +€140,903 | +15.2% |
| Taxes, remuneration and social security | 45 | €354,825 | €469,299 | +€114,474 | +32.3% |
| Taxes | 450/3 | €309,149 | €439,428 | +€130,278 | +42.1% |
| Remuneration and social security | 454/9 | €45,676 | €29,871 | -€15,804 | -34.6% |
| Other amounts payable | 47/48 | €150,000 | €150,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €891,673 | €798,591 | -€93,081 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,084 | €46,194 | -€5,890 | -11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €177 | €10,000 | +€9,823 | +5549.7% |
| Other operating charges | 640/8 | €3,859 | €5,340 | +€1,481 | +38.4% |
| Gross operating margin | 9900 | €1,691,793 | €1,704,535 | +€12,742 | +0.8% |
| Operating profit (loss) | 9901 | €744,000 | €844,410 | +€100,409 | +13.5% |
| Financial income | 75/76B | €148 | €1 | -€148 | -99.6% |
| Recurring financial income | 75 | €148 | €1 | -€148 | -99.6% |
| Financial charges | 65/66B | €13,524 | €9,428 | -€4,096 | -30.3% |
| Recurring financial charges | 65 | €13,524 | €9,428 | -€4,096 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €730,625 | €834,982 | +€104,358 | +14.3% |
| Income taxes | 67/77 | €200,542 | €228,001 | +€27,459 | +13.7% |
| Profit (loss) for the period | 9904 | €530,082 | €606,981 | +€76,899 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €530,082 | €606,981 | +€76,899 | +14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.