EXSU: 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.
EXSU
Largest movements
- Receivables within one year -€38,152
down €38,152 (-71.9%), from €53,056 to €14,905
of which Other amounts receivable: -€40,051
- Cash +€26,736
up €26,736 (+260%), from €10,293 to €37,029
mainly Receivables within one year (+€38,152) and Net result for the year (+€31,309)
- Tangible fixed assets -€8,892
down €8,892 (-16.1%), from €55,352 to €46,460
of which Furniture and vehicles: -€7,374
- Deferred charges and accrued income -€1,421
down €1,421 (-37.2%), from €3,822 to €2,401
- Reserves -€14,403
down €14,403 (-16.9%), from €85,388 to €70,985
of which Distributable reserves: -€14,403
- Debts after one year -€7,463
down €7,463 (-62.7%), from €11,906 to €4,443
- Trade debts -€4,735
down €4,735 (-84.7%), from €5,588 to €853
- Tax, wage and social debts +€4,684
up €4,684 (+65.4%), from €7,157 to €11,841
- Gross operating margin +€17,821
up €17,821 (+51.0%), from €34,933 to €52,754
- Taxes +€4,602
up €4,602 (+43.2%), from €10,656 to €15,257
- Financial income -€1,357
down €1,357 (-54.8%), from €2,476 to €1,120
- Other operating charges -€1,120
down €1,120 (-28.8%), from €3,886 to €2,766
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 | €123,512 | €101,784 | -€21,728 | -17.6% |
| Fixed assets | 21/28 | €56,342 | €47,450 | -€8,892 | -15.8% |
| Tangible fixed assets | 22/27 | €55,352 | €46,460 | -€8,892 | -16.1% |
| Land and buildings | 22 | €43,541 | €42,023 | -€1,518 | -3.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €11,811 | €4,437 | -€7,374 | -62.4% |
| Financial fixed assets | 28 | €990 | €990 | = | 0.0% |
| Current assets | 29/58 | €67,171 | €54,335 | -€12,836 | -19.1% |
| Amounts receivable within one year | 40/41 | €53,056 | €14,905 | -€38,152 | -71.9% |
| Trade receivables | 40 | €12,849 | €14,749 | +€1,900 | +14.8% |
| Other amounts receivable | 41 | €40,207 | €156 | -€40,051 | -99.6% |
| Cash at bank and in hand | 54/58 | €10,293 | €37,029 | +€26,736 | +260% |
| Deferred charges and accrued income | 490/1 | €3,822 | €2,401 | -€1,421 | -37.2% |
| Total equity and liabilities | 10/49 | €123,512 | €101,784 | -€21,728 | -17.6% |
| Equity | 10/15 | €91,588 | €77,185 | -€14,403 | -15.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,388 | €70,985 | -€14,403 | -16.9% |
| Tax-exempt reserves | 132 | €459 | €459 | = | 0.0% |
| Distributable reserves | 133 | €84,929 | €70,526 | -€14,403 | -17.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €31,924 | €24,600 | -€7,325 | -22.9% |
| Amounts payable after more than one year | 17 | €11,906 | €4,443 | -€7,463 | -62.7% |
| Financial debts | 170/4 | €11,906 | €4,443 | -€7,463 | -62.7% |
| Amounts payable within one year | 42/48 | €20,018 | €20,157 | +€138 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €7,274 | €7,463 | +€190 | +2.6% |
| Trade debts | 44 | €5,588 | €853 | -€4,735 | -84.7% |
| Suppliers | 440/4 | €5,588 | €853 | -€4,735 | -84.7% |
| Taxes, remuneration and social security | 45 | €7,157 | €11,841 | +€4,684 | +65.4% |
| Taxes | 450/3 | €7,157 | €11,841 | +€4,684 | +65.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,523 | €3,918 | +€395 | +11.2% |
| Other operating charges | 640/8 | €3,886 | €2,766 | -€1,120 | -28.8% |
| Gross operating margin | 9900 | €34,933 | €52,754 | +€17,821 | +51.0% |
| Operating profit (loss) | 9901 | €27,524 | €46,070 | +€18,546 | +67.4% |
| Financial income | 75/76B | €2,476 | €1,120 | -€1,357 | -54.8% |
| Recurring financial income | 75 | €2,476 | €1,120 | -€1,357 | -54.8% |
| Financial charges | 65/66B | €806 | €624 | -€183 | -22.7% |
| Recurring financial charges | 65 | €806 | €624 | -€183 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €29,194 | €46,566 | +€17,372 | +59.5% |
| Income taxes | 67/77 | €10,656 | €15,257 | +€4,602 | +43.2% |
| Profit (loss) for the period | 9904 | €18,538 | €31,309 | +€12,771 | +68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,538 | €31,309 | +€12,771 | +68.9% |
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 15 October 2026 via checked.be.