EXQUISETH: 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.
EXQUISETH
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets -€23,888
down €23,888 (-43.8%), from €54,563 to €30,675
of which Furniture and vehicles: -€17,487
- Cash -€22,363
down €22,363 (-46.3%), from €48,289 to €25,927
mainly Contributions, distributions and other (-€223,966) and Tax, wage and social debts (-€14,727)
- Receivables within one year +€3,090
up €3,090 (+22.8%), from €13,552 to €16,642
of which Trade receivables: +€2,329
- Reserves -€153,326
down €153,326 (-98.9%), from €155,000 to €1,674
- Tax, wage and social debts -€14,727
down €14,727 (-39.1%), from €37,693 to €22,966
- Debts after one year -€11,367
no longer reported in 2025 (was €11,367)
- Other debts -€8,487
down €8,487 (-20.9%), from €40,569 to €32,082
- Current portion of long-term debt -€5,525
down €5,525 (-30.2%), from €18,308 to €12,782
- Gross operating margin +€17,253
up €17,253 (+17.9%), from €96,411 to €113,664
- Taxes +€3,253
up €3,253 (+22.2%), from €14,681 to €17,934
- Financial income -€1,715
down €1,715 (-42.7%), from €4,021 to €2,306
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.
Derived cash bridge
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 | €267,793 | €75,152 | -€192,642 | -71.9% |
| Fixed assets | 21/28 | €54,563 | €30,675 | -€23,888 | -43.8% |
| Tangible fixed assets | 22/27 | €54,563 | €30,675 | -€23,888 | -43.8% |
| Land and buildings | 22 | €35,159 | €29,547 | -€5,613 | -16.0% |
| Plant, machinery and equipment | 23 | €1,710 | €922 | -€788 | -46.1% |
| Furniture and vehicles | 24 | €17,694 | €207 | -€17,487 | -98.8% |
| Current assets | 29/58 | €213,230 | €44,477 | -€168,754 | -79.1% |
| Amounts receivable within one year | 40/41 | €13,552 | €16,642 | +€3,090 | +22.8% |
| Trade receivables | 40 | €13,552 | €15,881 | +€2,329 | +17.2% |
| Other amounts receivable | 41 | - | €761 | +€761 | |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €48,289 | €25,927 | -€22,363 | -46.3% |
| Deferred charges and accrued income | 490/1 | €1,389 | €1,908 | +€519 | +37.3% |
| Total equity and liabilities | 10/49 | €267,793 | €75,152 | -€192,642 | -71.9% |
| Equity | 10/15 | €158,466 | €4,674 | -€153,792 | -97.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €155,000 | €1,674 | -€153,326 | -98.9% |
| Distributable reserves | 133 | €155,000 | €1,674 | -€153,326 | -98.9% |
| Profit (loss) carried forward | 14 | €466 | - | -€466 | |
| Amounts payable | 17/49 | €109,327 | €70,478 | -€38,850 | -35.5% |
| Amounts payable after more than one year | 17 | €11,367 | - | -€11,367 | |
| Financial debts | 170/4 | €11,367 | - | -€11,367 | |
| Amounts payable within one year | 42/48 | €97,960 | €70,478 | -€27,482 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €18,308 | €12,782 | -€5,525 | -30.2% |
| Trade debts | 44 | €1,390 | €2,647 | +€1,257 | +90.4% |
| Suppliers | 440/4 | €1,390 | €2,647 | +€1,257 | +90.4% |
| Taxes, remuneration and social security | 45 | €37,693 | €22,966 | -€14,727 | -39.1% |
| Taxes | 450/3 | €37,693 | €22,966 | -€14,727 | -39.1% |
| Other amounts payable | 47/48 | €40,569 | €32,082 | -€8,487 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,802 | €23,888 | +€86 | +0.4% |
| Other operating charges | 640/8 | €996 | €1,070 | +€74 | +7.4% |
| Gross operating margin | 9900 | €96,411 | €113,664 | +€17,253 | +17.9% |
| Operating profit (loss) | 9901 | €71,613 | €88,706 | +€17,093 | +23.9% |
| Financial income | 75/76B | €4,021 | €2,306 | -€1,715 | -42.7% |
| Recurring financial income | 75 | €4,021 | €2,306 | -€1,715 | -42.7% |
| Financial charges | 65/66B | €3,867 | €2,904 | -€963 | -24.9% |
| Recurring financial charges | 65 | €3,867 | €2,904 | -€963 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €71,767 | €88,108 | +€16,341 | +22.8% |
| Income taxes | 67/77 | €14,681 | €17,934 | +€3,253 | +22.2% |
| Profit (loss) for the period | 9904 | €57,086 | €70,174 | +€13,088 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,086 | €70,174 | +€13,088 | +22.9% |
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 27 October 2026 via checked.be.