EXQURA: 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.
EXQURA
Largest movements
- Cash +€20,017
up €20,017 (+11.3%), from €176,943 to €196,960
mainly Net result for the year (+€40,682) and Depreciation (+€9,990)
- Tangible fixed assets +€2,617
up €2,617 (+34.2%), from €7,647 to €10,264
of which Furniture and vehicles: +€4,455
- Reserves +€15,635
up €15,635 (+10.0%), from €157,119 to €172,754
- Other debts +€7,305
up €7,305 (+33.9%), from €21,528 to €28,832
- Gross operating margin +€12,924
up €12,924 (+23.1%), from €55,999 to €68,923
- Depreciation +€5,482
up €5,482 (+122%), from €4,508 to €9,990
- Taxes +€2,871
up €2,871 (+19.3%), from €14,869 to €17,740
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 | €197,600 | €221,231 | +€23,631 | +12.0% |
| Fixed assets | 21/28 | €7,647 | €10,264 | +€2,617 | +34.2% |
| Tangible fixed assets | 22/27 | €7,647 | €10,264 | +€2,617 | +34.2% |
| Furniture and vehicles | 24 | €4,897 | €9,353 | +€4,455 | +91.0% |
| Other tangible fixed assets | 26 | €2,749 | €911 | -€1,838 | -66.9% |
| Current assets | 29/58 | €189,953 | €210,967 | +€21,014 | +11.1% |
| Amounts receivable within one year | 40/41 | €12,003 | €12,981 | +€978 | +8.1% |
| Trade receivables | 40 | €11,657 | €12,981 | +€1,324 | +11.4% |
| Other amounts receivable | 41 | €346 | €0 | -€346 | -100% |
| Cash at bank and in hand | 54/58 | €176,943 | €196,960 | +€20,017 | +11.3% |
| Deferred charges and accrued income | 490/1 | €1,007 | €1,026 | +€20 | +2.0% |
| Total equity and liabilities | 10/49 | €197,600 | €221,231 | +€23,631 | +12.0% |
| Equity | 10/15 | €163,319 | €178,954 | +€15,635 | +9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €157,119 | €172,754 | +€15,635 | +10.0% |
| Distributable reserves | 133 | €157,119 | €172,754 | +€15,635 | +10.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,281 | €42,277 | +€7,996 | +23.3% |
| Amounts payable within one year | 42/48 | €34,281 | €42,277 | +€7,996 | +23.3% |
| Trade debts | 44 | €2,566 | €2,327 | -€239 | -9.3% |
| Suppliers | 440/4 | €2,566 | €2,327 | -€239 | -9.3% |
| Taxes, remuneration and social security | 45 | €10,187 | €11,118 | +€931 | +9.1% |
| Taxes | 450/3 | €10,187 | €11,118 | +€931 | +9.1% |
| Other amounts payable | 47/48 | €21,528 | €28,832 | +€7,305 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,508 | €9,990 | +€5,482 | +122% |
| Other operating charges | 640/8 | €0 | €409 | +€409 | |
| Gross operating margin | 9900 | €55,999 | €68,923 | +€12,924 | +23.1% |
| Operating profit (loss) | 9901 | €51,491 | €58,524 | +€7,033 | +13.7% |
| Financial income | 75/76B | €0 | €45 | +€45 | +75,217% |
| Recurring financial income | 75 | €0 | €45 | +€45 | +75,217% |
| Financial charges | 65/66B | €320 | €146 | -€174 | -54.4% |
| Recurring financial charges | 65 | €320 | €146 | -€174 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €51,171 | €58,423 | +€7,252 | +14.2% |
| Income taxes | 67/77 | €14,869 | €17,740 | +€2,871 | +19.3% |
| Profit (loss) for the period | 9904 | €36,301 | €40,682 | +€4,381 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,301 | €40,682 | +€4,381 | +12.1% |
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.