Exseed: 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.
Exseed
Largest movements
- Tangible fixed assets -€16,035
down €16,035 (-5.4%), from €298,456 to €282,421
of which Land and buildings: -€12,114
- Receivables within one year +€9,343
up €9,343 (+116%), from €8,059 to €17,402
of which Trade receivables: +€9,330
- Tax, wage and social debts +€10,207
up €10,207 (+142%), from €7,182 to €17,389
- Debts after one year -€10,192
down €10,192 (-3.8%), from €267,595 to €257,403
- Other debts -€9,652
down €9,652 (-9.8%), from €98,698 to €89,046
- Gross operating margin -€16,895
down €16,895 (-11.7%), from €144,746 to €127,851
- Taxes -€4,426
down €4,426 (-15.7%), from €28,220 to €23,794
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 | €437,554 | €430,085 | -€7,469 | -1.7% |
| Formation expenses | 20 | €21 | - | -€21 | |
| Fixed assets | 21/28 | €298,706 | €282,671 | -€16,035 | -5.4% |
| Tangible fixed assets | 22/27 | €298,456 | €282,421 | -€16,035 | -5.4% |
| Land and buildings | 22 | €281,504 | €269,390 | -€12,114 | -4.3% |
| Plant, machinery and equipment | 23 | €9,861 | €8,079 | -€1,782 | -18.1% |
| Furniture and vehicles | 24 | €5,740 | €4,002 | -€1,739 | -30.3% |
| Other tangible fixed assets | 26 | €1,351 | €951 | -€400 | -29.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €138,827 | €147,414 | +€8,588 | +6.2% |
| Amounts receivable within one year | 40/41 | €8,059 | €17,402 | +€9,343 | +116% |
| Trade receivables | 40 | €6,279 | €15,609 | +€9,330 | +149% |
| Other amounts receivable | 41 | €1,780 | €1,793 | +€13 | +0.8% |
| Cash at bank and in hand | 54/58 | €119,297 | €122,849 | +€3,551 | +3.0% |
| Deferred charges and accrued income | 490/1 | €11,470 | €7,163 | -€4,307 | -37.5% |
| Total equity and liabilities | 10/49 | €437,554 | €430,085 | -€7,469 | -1.7% |
| Equity | 10/15 | €49,230 | €49,230 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €49,130 | €49,130 | = | 0.0% |
| Distributable reserves | 133 | €49,130 | €49,130 | = | 0.0% |
| Amounts payable | 17/49 | €388,324 | €380,855 | -€7,469 | -1.9% |
| Amounts payable after more than one year | 17 | €267,595 | €257,403 | -€10,192 | -3.8% |
| Financial debts | 170/4 | €267,595 | €257,403 | -€10,192 | -3.8% |
| Amounts payable within one year | 42/48 | €119,823 | €121,663 | +€1,839 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €9,783 | €10,192 | +€409 | +4.2% |
| Trade debts | 44 | €4,161 | €5,036 | +€875 | +21.0% |
| Suppliers | 440/4 | €4,161 | €5,036 | +€875 | +21.0% |
| Taxes, remuneration and social security | 45 | €7,182 | €17,389 | +€10,207 | +142% |
| Taxes | 450/3 | €7,182 | €17,389 | +€10,207 | +142% |
| Other amounts payable | 47/48 | €98,698 | €89,046 | -€9,652 | -9.8% |
| Accrued charges and deferred income | 492/3 | €906 | €1,789 | +€884 | +97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,831 | €19,450 | +€619 | +3.3% |
| Other operating charges | 640/8 | €2,125 | €2,249 | +€124 | +5.8% |
| Gross operating margin | 9900 | €144,746 | €127,851 | -€16,895 | -11.7% |
| Operating profit (loss) | 9901 | €123,790 | €106,151 | -€17,638 | -14.2% |
| Financial income | 75/76B | €1 | €4 | +€3 | +202% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +202% |
| Financial charges | 65/66B | €12,711 | €13,353 | +€641 | +5.0% |
| Recurring financial charges | 65 | €12,711 | €13,353 | +€641 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €111,080 | €92,803 | -€18,277 | -16.5% |
| Income taxes | 67/77 | €28,220 | €23,794 | -€4,426 | -15.7% |
| Profit (loss) for the period | 9904 | €82,860 | €69,009 | -€13,850 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,860 | €69,009 | -€13,850 | -16.7% |
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 13 October 2026 via checked.be.