EXQUANDO: 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.
EXQUANDO
Largest movements
- Receivables within one year +€86,629
up €86,629 (+7.9%), from €1.1m to €1.2m
of which Trade receivables: +€86,629
- Tangible fixed assets +€51,164
up €51,164 (+179.6%), from €28,494 to €79,658
of which Furniture and vehicles: +€39,504
- Current investments +€50,000
up €50,000 (+20.0%), from €250,000 to €300,000
- Cash +€36,227
up €36,227 (+6.1%), from €589,939 to €626,166
mainly Net result for the year (+€354,501) and Trade debts (+€67,013)
- Profit (loss) carried forward +€84,501
up €84,501 (+11.5%), from €734,450 to €818,951
- Trade debts +€67,013
up €67,013 (+45.3%), from €147,910 to €214,923
- Tax, wage and social debts +€62,695
up €62,695 (+12.4%), from €504,931 to €567,625
of which Taxes: +€46,465
- Gross operating margin +€375,740
up €375,740 (+13.9%), from €2.7m to €3.1m
- Staff costs +€321,487
up €321,487 (+14.3%), from €2.3m to €2.6m
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 | €2,026,424 | €2,251,120 | +€224,696 | +11.1% |
| Fixed assets | 21/28 | €77,320 | €114,437 | +€37,117 | +48.0% |
| Intangible fixed assets | 21 | €39,709 | €25,629 | -€14,080 | -35.5% |
| Tangible fixed assets | 22/27 | €28,494 | €79,658 | +€51,164 | +179.6% |
| Plant, machinery and equipment | 23 | €625 | - | -€625 | |
| Furniture and vehicles | 24 | €27,232 | €66,736 | +€39,504 | +145.1% |
| Other tangible fixed assets | 26 | €637 | €12,921 | +€12,284 | +1927.7% |
| Financial fixed assets | 28 | €9,117 | €9,151 | +€33 | +0.4% |
| Current assets | 29/58 | €1,949,104 | €2,136,683 | +€187,579 | +9.6% |
| Amounts receivable within one year | 40/41 | €1,097,165 | €1,183,794 | +€86,629 | +7.9% |
| Trade receivables | 40 | €1,091,180 | €1,177,809 | +€86,629 | +7.9% |
| Other amounts receivable | 41 | €5,985 | €5,985 | = | 0.0% |
| Current investments | 50/53 | €250,000 | €300,000 | +€50,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €589,939 | €626,166 | +€36,227 | +6.1% |
| Deferred charges and accrued income | 490/1 | €12,000 | €26,723 | +€14,722 | +122.7% |
| Total equity and liabilities | 10/49 | €2,026,424 | €2,251,120 | +€224,696 | +11.1% |
| Equity | 10/15 | €1,060,100 | €1,144,601 | +€84,501 | +8.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €264,150 | €264,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €258,000 | €258,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €734,450 | €818,951 | +€84,501 | +11.5% |
| Amounts payable | 17/49 | €966,325 | €1,106,519 | +€140,195 | +14.5% |
| Amounts payable within one year | 42/48 | €966,325 | €1,106,519 | +€140,195 | +14.5% |
| Financial debts | 43 | €13,547 | €22,375 | +€8,828 | +65.2% |
| Credit institutions | 430/8 | €13,547 | €22,375 | +€8,828 | +65.2% |
| Trade debts | 44 | €147,910 | €214,923 | +€67,013 | +45.3% |
| Suppliers | 440/4 | €147,910 | €214,923 | +€67,013 | +45.3% |
| Advances received on contracts in progress | 46 | €1,208 | - | -€1,208 | |
| Taxes, remuneration and social security | 45 | €504,931 | €567,625 | +€62,695 | +12.4% |
| Taxes | 450/3 | €97,582 | €144,047 | +€46,465 | +47.6% |
| Remuneration and social security | 454/9 | €407,349 | €423,578 | +€16,229 | +4.0% |
| Other amounts payable | 47/48 | €298,728 | €301,596 | +€2,868 | +1.0% |
| Remuneration, social security and pensions | 62 | €2,253,676 | €2,575,163 | +€321,487 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,945 | €35,476 | +€18,532 | +109.4% |
| Other operating charges | 640/8 | €1,651 | €5,030 | +€3,379 | +204.7% |
| Gross operating margin | 9900 | €2,711,087 | €3,086,827 | +€375,740 | +13.9% |
| Operating profit (loss) | 9901 | €438,816 | €471,158 | +€32,343 | +7.4% |
| Financial income | 75/76B | €11,980 | €13,257 | +€1,277 | +10.7% |
| Recurring financial income | 75 | €11,980 | €13,257 | +€1,277 | +10.7% |
| Financial charges | 65/66B | €1,492 | €942 | -€550 | -36.9% |
| Recurring financial charges | 65 | €1,492 | €942 | -€550 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €449,303 | €483,473 | +€34,170 | +7.6% |
| Income taxes | 67/77 | €116,787 | €128,972 | +€12,185 | +10.4% |
| Profit (loss) for the period | 9904 | €332,516 | €354,501 | +€21,985 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €332,516 | €354,501 | +€21,985 | +6.6% |
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 6 October 2026 via checked.be.